Inter-Citic Minerals Inc.
TSX : ICI

Inter-Citic Minerals Inc.

January 17, 2011 08:30 ET

Exploration Licenses Renewed At Inter-Citic's Dachang Gold Project

TORONTO, ONTARIO--(Marketwire - Jan. 17, 2011) - Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report on the extension of key exploration licenses at its Dachang Gold Project in China.

The two key exploration licenses that cover the Dachang Main Zone and adjoining resource areas were extended by the Chinese Central Government's Ministry of Land and Resources (MOLAR) for a period of two years to November, 2013, when they will again be eligible for further extension.

The total 279 square kilometre Dachang Gold Project area comprises five separate exploration license areas. These licenses are granted for an initial period of three years and can be renewed / extended every two years thereafter providing minimum exploration expenditures are met. The Company has always exceeded minimum exploration expenditures and has successfully renewed all licenses at Dachang when they have become eligible for extension.

"Being able to give assurances of the security of licenses and license renewal are very important to investors," said James Moore, President and CEO of Inter-Citic, "and we are pleased that we have always been able to provide solid and timely renewals of these key assets through our close work with the Chinese government and other stakeholders."

On Behalf of the Board:

James J. Moore, President & CEO

ABOUT INTER-CITIC:

Toronto-based Inter-Citic Minerals Inc. is a gold exploration and development company advancing its Dachang Gold Project in the People's Republic of China. 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 2009 Financial Statements and Annual Information Form, along with updates, 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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