Inter-Citic Minerals Inc.
TSX VENTURE : ICI

Inter-Citic Minerals Inc.

March 21, 2006 08:30 ET

Inter-Citic Reports on Consolidation of Remaining Results From 2005 Exploration Season

TORONTO, ONTARIO--(CCNMatthews - March 21, 2006) - Inter-Citic Minerals Inc. (TSX VENTURE:ICI) ("Inter-Citic" or "The Company"), is pleased to report the last remaining results from its 2005 exploration program for the Dachang Gold Project ("Dachang") in the Province of Qinghai, China. This press release details results from the remaining six reconnaissance drill holes at Dachang (see location map on website) and provides a summary of the significant assay results from 101 trenches excavated during 2005. Also reported is the discovery of four new gold soil anomalies.

OVERVIEW OF TRENCHING RESULTS:

During the 2005 trenching program at Dachang Inter-Citic excavated 101 trenches, representing 23.7 linear kilometres of trenching. Trenching was conducted on 200 to 500 meter spacing along gold soil anomalies discovered in early 2005 in the North River, Western Quarter, Dachang Central districts. Forty three of the trenches exposed bedrock gold mineralization below the gold soil geochemical anomalies and a total of 60 significant gold intercepts were delineated by this trenching program.

The table below is a complete summary of the significant results from the entire 2005 trenching program at Dachang. This table also includes trench results which have been released over the previous 6 months, included here to provide a comprehensive disclosure of all significant 2005 trench assay intervals.



Trench Assay Summary - 2005 Exploration Program
(Assay cut-off 0.5 gpt Au to include 5 gram - metre intercepts)

Trench Number From To Interval grade
(m) (m) (m) (gpt Au)
North River District:

Anomaly NR-1
A1TC35501 73.4 81.4 8.0 4.47
183.0 191.0 8.0 4.07
A1TC3601 (1) 113.0 126.8 13.8 2.38
226.5 228.5 2.0 5.52
A1TC36501 64.0 67.0 3.0 2.74
150.0 152.5 2.5 3.04
A1TC37501 195.0 198.0 3.0 1.90
A1TC3801 (1) 7.0 19.4 12.4 2.00
A1TC38501 8.0 20.0 12.0 4.49
A1TC3901 (1) 27.3 32.0 4.7 1.14
A1TC39501 39.5 45.5 6.0 2.84
A1TC39502 (1) 29.0 40.4 11.4 1.57
A1TC4001 (1) 23.0 27.0 4.0 2.70
A1TC40501 28.5 33.0 4.5 3.35
A1TC40502 (1) 21.5 22.6 1.1 4.62
88.0 89.8 1.8 4.26
A1TC4101 (1) 78.2 80.7 2.5 3.74
A1TC41502 15.0 19.0 4.0 3.65
53.5 56.5 3.0 3.96
86.0 93.0 7.0 4.43
108.0 110.5 2.5 2.23
A1TC4202 (1) 97.0 99.0 2.0 3.94
A1TC4203 (1) 35.0 39.0 4.0 1.63
A1TC42501 (1) 32.0 40.0 8.0 0.82
61.5 67.0 5.5 1.92
A1TC43501 (1) 190.0 196.0 6.0 1.14

Anomaly NR-2
A1TC5101 25.0 29.0 4.0 20.65
195.0 198.0 3.0 2.03
A1TC51501 (1) 89.2 92.0 2.8 5.01
A1TC5201 118.0 136.0 18.0 2.09
217.0 220.0 3.0 14.54
A1TC5301 261.0 266.0 5.0 1.42
A1TC53501 (1) 13.0 18.0 5.0 1.65
A1TC5401 97.0 101.0 4.0 7.25
A1TC5501 56.0 58.0 2.0 2.67
174.4 178.4 4.0 5.14

Anomaly NR-3
A1TC6601 (1) 13.0 16.0 3.0 3.61
A1TC6701 (1) 13.0 14.0 1.0 6.29
50.0 53.0 3.0 3.57
Western Quarter District:

Anomaly WQ-2
A2TC3802 (1) 328.0 330.0 2.0 3.37

Anomaly WQ-5
A2TC4301 (1) 252.5 257.5 5.0 3.15

Anomaly WQ-6
A2TC3801 (1) 81.5 88.0 6.5 2.40

Anomaly WQ-2 & 6
A2TC4001 (1) 112.0 113.0 1.0 5.28
292.5 294.5 2.0 3.64
712.0 713.0 1.0 9.98

Dachang Central District:

Anomaly CD-1
A2TC6302 (1) 232.0 236.0 4.0 2.00

Anomaly CD-4
A2TC5401 26.0 32.0 6.0 1.41
A2TC6002 (1) 135.0 138.0 3.0 2.23
A2TC6401 (1) 31.0 35.0 4.0 3.94
A2TC6901 (1) 89.0 91.0 2.0 2.51
137.0 139.0 2.0 2.80
Anomaly CD-5
A2TC5402 55.0 64.0 9.0 6.09
A2TC5601 (1) 40.5 55.5 15.0 0.73
62.5 73.5 11.0 1.30
A2TC6501 (1) 118.0 122.0 4.0 1.43
126.0 131.5 5.5 7.26
A2TC6601 (1) 52.0 68.5 16.5 4.89
A2TC6701 283.6 284.6 1.0 12.10
A2TC6702 (1) 12.5 21.5 9.0 1.88
A2TC7001 (1) 174.0 186.5 12.5 2.25

(1) Trenches marked above with an asterisk (1) are results that
have not been previously reported by the Company.


NEW DRILL RESULTS:

During 2005 Inter-Citic drilled 22 NQ diamond drill holes, totalling 2,487.4 m. The significant results of the first 16 holes of 2005 were released previously by the Company. Inter-Citic is pleased to announce the assay results for the remaining six (6) reconnaissance diamond drill holes. All six holes were drilled in the Dachang Central district, and were located to test encouraging gold mineralization exposed by widely spaced trenches. Descriptions and a map of the gold soil anomalies in the Dachang Central district were previously reported in the Company's press release of May 2, 2005, available on the Company's website.

For the final six drill holes in the 2005 program the Company tested three separate anomaly trends in Dachang Central which represented newly-discovered fault structures defined by 2005 trenching. Two holes were placed in each of these targets to test the structure from opposite sides of the fault. In each case one drill hole in each drill cross section was gold bearing. These mineralized holes intersected replacement sulphide zones hosted in intensely-faulted sediments.



The unmineralized holes failed to penetrate the target fault zone due
to poor ground conditions. Results are tabulated below:

Hole Line Dip Azimuth From To Interval Assay
Number Number (m) (m) (m) (gpt Au)

CJV-32 Line 54 45 024 47.1 52.9 5.8 3.32
degrees
CJV-33 Line 54 45 204 Abandoned in fault zone
degrees short of target
CJV-34 Line 66 60 24 Drilled parallel to north
degrees dipping zone
CJV-35 Line 66 55 204 32.6 35.1 2.5 4.496
degrees
CJV-36 Line 67 65 24 Abandoned in fault zone
degrees short of target
CJV-37 Line 67 48 204 12.4 16.6 4.2 3.81
degrees


The Company is encouraged by the gold intercepts discovered by these widely-spaced reconnaissance drill holes. The three new mineralized fault zones indicated by the final six holes of the 2005 program brings to 5 the number of new gold bearing fault structures confirmed by 2005 drill testing. All 5 structures have to date only been trenched and drill tested at widely spaced intervals and these fault structures will require more aggressive testing in 2006.

OVERVIEW OF NEW SOIL GEOCHEMISTRY ANOMALIES:

The Company is also pleased to report the discovery of four new large gold soil anomalies from continued soil testing at Dachang. During the 2005 Inter-Citic completed the 200 meter grid B-Horizon gold soil geochemical survey initiated in 2004. During the 2005 program a further 11,220 soil samples were collected and analyzed for gold, arsenic and antimony. The results of the recent survey discovered the following four new gold anomalies and extended the strike length of previous identified gold anomalies in the North River, Dachang North and Dachang Central districts.

North River:

NR-4: A new 1 km long gold soil anomaly was identified approximately 1 km southeast along strike of anomaly NR-3. The anomaly consists of three parallel ribbon like zones exhibiting gold values up to 186 ppb Au with one sample returning a value of greater than 300 ppb Au. Background levels for the soils in this district range from 1 to 5 ppb with anomalous values typically grading greater than 50 to 100 ppb.

NR-5: This anomaly represents the northwestern extension of an anomaly discovered in 2004. It is located in the northwestern portion of the North River district and is parallel to and approximately 1 km southwest of anomaly NR-1. NR-5 is approximately 2 kms long and is open along strike off the property to the northwest and may be open to the southeast below a shallow river valley It is possible that this anomaly represents the northwestern extension of the NR-2 fault zone on which Inter-Citic recently reported a 43-101 compliant inferred resource of approximately 1.3 million tonnes averaging 5.81 gpt Au (238,000 oz. Au.).

Dachang North:

DN-4 Extension: This gold soil anomaly represents the northern extension of Anomaly DN-4. The 2005 sampling extends DN-4 a further 600 m along strike to the southeast and is characterized by gold values of up to 125 ppb Au, with isolated single station values of greater than 300 ppb Au. Background gold levels for the soils in this district range from 1 to 5 ppb. The survey returned a mean gold value of 17 ppb Au with a threshold of 31 ppb Au defined as highly anomalous. As a result of the 2005 survey, DN-4 now has a total strike length of approximately 2 km and is open along strike off the property to the southeast.

Dachang Central (also referred to as "Central Dachang"):

CD-8: This anomaly cluster may represent the western extension of the Dachang East gold resource. This new anomaly has maximum gold values greater than 300 ppb Au. Background gold levels for the soils in this district are less than 5 ppb Au. Threshold values are between 5 and 20 ppb. Over 20 ppb Au is defined as anomalous. This anomaly occurs in an area of intense faulting and appears to represent one complex gold soil anomaly approximately 1.6 km long. This anomaly is open along strike to the northwest.

METHODOLOGY

Sampling Criteria:

The sampling program at Dachang included the collection of soil samples at designated intervals of the established grids, the collections of channel samples of geologically significant intervals exposed by trenching and split core samples over geological significant interval intersected during drilling.

Conventional "B" horizon soil samples were collected at 20m intervals along grid lines established at 200m intervals. The sample interval and collection methodology are consistent with industry standards. There are no factors that could materially impact on the accuracy or reliability of the results and the samples collected at each site are representative of the soil at each site and there are not factors, which may have resulted in bias.

Trench chip-channel samples were taken at geologically established intervals consistent with the width of each mineralized exposed in the trench. The sample interval was typically one meter as this is the optimum interval of potential economic significance and is consistent with the historic data, providing a reliable base level for comparison on the Main Parcel. The individual samples collected over the designated intervals are representative of the material for the respective intervals. Selected samples "splits" were analyzed by several independent laboratories using Chinese and International standards with good correlation within normally accepted statistical limits. The sample interval and collection methodology are consistent with industry standards

Drill core samples were taken at geological significant intervals, typically over one metre. Core recovery was in excess of 90%. The designated sample intervals were cut with a diamond saw by qualified technicians. One half of the cut core was selected for assay with the remaining half being placed back into the core box. Care was taken to ensure that neither half of the core represents a bias with respect to the nature and mineral content of the sample. The sample interval and methodology are consistent with industry standards.

Analytical Procedures:

Soil samples were air dried on site and delivered to an independent arm's length Chinese government laboratory in Xi'an, Shaanxi, China, the Research Center of Xi'an Institute of Geology and Mineral Resources, or to the Qinghai Institute of Rock &Mineral Testing and Application, located in Xining, Qinghai. Gold content in the soil was determined by analyzing 10 gram samples of minus 200 mesh, adding 10 ml 1:1 aqua regia, absorbing with active carbon, reducing to ashes, dissolving in another 5 ml 1:1 aqua regia with gold detection by spectrophotometer.

Trench chip-channel samples, each comprising approximately 5 kg of material, were secured and transported to a qualified offsite laboratory. The trench samples were delivered to the Research Centre of Xi'an Institute of Geology and Mineral Resources, and independent arm's length Chinese government laboratory in Xi'an, Shaanxi Province, China. At the laboratory each sample was dried, crushed and a portion ground to minus 200-mesh. The gold content of each sample was determined by analyzing 20-gram sample of the minus 200-mesh material through an aqua regia acid digestion and then analyzed for gold using atomic absorption. Accuracy of the result was tested through the inclusion of international and Chinese standards and blanks.

Drill core samples were shipped to SGS Geochemical Laboratories ("SGS") located in Kunming and Tianjin, China for sample preparation and fire assay respectively. SGS is the world's leading inspection, verification, testing and certification company. Analytical work is performed in accordance with recognized standards such as ASTM, ISO, JIS, and other accepted industry standards. Accuracy of the results is tested through the systematic inclusion of certified reference standards, blanks and duplicate samples.

Security of Samples

All of the samples collected at Dachang are stored in a restricted secure storage area. Samples are shipped by truck to Golmud and delivered to Inter-Citic's courier agent in Golmud for shipment to the various laboratories for analysis. Inter-Citic's courier agents are present at all transhipment point between Golmud and the laboratories. All the laboratories used by Inter-Citic are ISO approved and subject to the security protocols of that designation.

Exploration at Dachang was conducted with the assistance of the numerous professionals from QGSI, working in co-operation with Inter-Citic's technical team on site and supervised by Mr. Garth Pierce, Vice-President of Exploration and David. G. Wahl, P.Eng., P.Geo.. Mr. Wahl is Inter-Citic's Vice President of Resource Development and the Qualified Person for the project under the requirements of National Instrument 43-101.

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 Venture Exchange 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 2004 Financial Statements 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 Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information