Inter-Citic Minerals Inc.
TSX : ICI

Inter-Citic Minerals Inc.

January 18, 2007 10:00 ET

Inter-Citic Warrant Exercise Nets C$1.08 Million

Company now has $4.7 million in the treasury

TORONTO, ONTARIO--(CCNMatthews - Jan. 18, 2007) - Inter-Citic Minerals Inc. (TSX:ICI)("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report the exercise of 1,358,333 warrants at a price of C$0.80 for proceeds of C$1,086,666. No commissions or fees were paid on the exercise of the warrants. The Company now has cash on hand of approximately CAD $4.7 million.

On Behalf of the Board:

James J. Moore, President & CEO

ABOUT INTER-CITIC:

Toronto-based Inter-Citic Minerals Inc. is an exploration and development company with properties in the People's Republic of China. The Company has strategic partnerships with several large financially strong and established groups in China to facilitate investment in China for both Western and Chinese partners. Inter-Citic is listed on the TSX under the symbol ICI. Inter-Citic's website is www.inter-citic.com.

Investors are encouraged to review "Risk Factors" associated with the Dachang project as outlined in the Company's 2005 Financial Statements and Annual Information Form available on the SEDAR website at www.sedar.com. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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