Inter-Citic Minerals Inc.
TSX : ICI

Inter-Citic Minerals Inc.

August 07, 2008 08:45 ET

Inter-Citic Reports Results From 26 Drill Holes at Dachang Gold Project. Results Include 12 Metres Averaging 10.09 GPT Gold

Multiple Zones of Gold Mineralization Found In 25 of 26 Holes. Hole CJV-414 reports 60.1 metres total composite width of gold mineralization.

TORONTO, ONTARIO--(Marketwire - Aug. 7, 2008) - Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report results received from the third set of drill holes from the Company's 2008 diamond drill program at its Dachang Gold Project in China. The reported drill holes are located along the length of the 3+ km of the Dachang Main Zone as defined in the company's NI 43-101 inferred mineral resource as described in the Company's press release of April 10, 2008.

Six drills are currently operating at Dachang to complete up to 50,000 metres of drilling this year, Approximately 25,000 meters of Inter-Citic's current 50,000 meter drill program is aimed at increasing much of the existing inferred resource inventory to an indicated level, with the remaining 25,000 meters of drilling to focus on resource expansion in new areas of the property. Mr. Patrick Gorman, a chartered mining engineer with more than 30 years of experience, is overseeing the preparation and drafting of a Preliminary Scoping Study for Inter-Citic's Dachang Gold Project. All work necessary to complete the Scoping Study, including engineering and metallurgy, has commenced.

Drill Highlights:

- Drill hole CJV-414 intersected multiple mineralized zones, including 31.8 metres of mineralization averaging 3.39 GPT contained gold, and another with 18.2 metres of mineralization averaging 2.34 GPT contained gold. A total composite width of 60.1 metres of gold mineralization was encountered in hole CJV-414. As reported in the Company's press release of July 18, 2008, Company geologists also encountered visible gold in approximately 10 cm of core from hole CJV-414.

- Drill hole CJV-370 intersected multiple mineralized zones, including 15.4 metres of mineralization averaging 2.62 GPT contained gold.

- Drill hole CJV-372 intersected multiple mineralized zones, including 11.4 metres of mineralization averaging 5.13 GPT contained gold.

- Drill hole CJV-382 intersected multiple mineralized zones, including 4.4 metres of mineralization averaging 9.89 GPT contained gold.

- Drill hole CJV-392 intersected multiple mineralized zones, including 7.0 metres of mineralization averaging 11.08 GPT contained gold.

- Drill hole CJV-394 intersected multiple mineralized zones, including 14.0 metres of mineralization averaging 6.23 GPT contained gold.

- Drill hole CJV-396 intersected multiple mineralized zones, including 9.7 metres of mineralization averaging 3.78 GPT contained gold.

- Drill hole CJV-397 intersected multiple mineralized zones, including 18.6 metres of mineralization averaging 3.80 GPT contained gold.

- Drill hole CJV-398 intersected multiple mineralized zones, including 11.9 metres of mineralization averaging 3.28 GPT contained gold.

- Drill hole CJV-405 intersected multiple mineralized zones, including 7.0 metres of mineralization averaging 10.25 GPT contained gold.

- Drill hole CJV-406 intersected multiple mineralized zones, including 10.4 metres of mineralization averaging 3.91 GPT contained gold.

- Drill hole CJV-408 intersected multiple mineralized zones, including 4.7 metres of mineralization averaging 9.94 GPT contained gold.

- Drill hole CJV-409 intersected multiple mineralized zones, including 8.7 metres of mineralization averaging 8.12 GPT contained gold.

- Drill hole CJV-412 intersected multiple mineralized zones, including 12.0 metres of mineralization averaging 10.09 GPT contained gold.

- Drill hole CJV-415 intersected multiple mineralized zones, including 6.1 metres of mineralization averaging 11.09 GPT contained gold.

- Drill hole CJV-419 intersected multiple mineralized zones, including 18.6 metres of mineralization averaging 4.76 GPT contained gold.

Detailed drilling results are set out in the chart below:



-------------------------------------------------------------------
Diamond Section/ Dip/ From To Drill Gold
Drill Hole Location Azimuth (Metres) (Metres) Width Assay
No. (Degrees) (Metres) (grams
per
tonne)
-------------------------------------------------------------------
CJV-370 11400/DMZ -50/20 56.00 63.00 7.00 1.39
CJV-370 74.00 89.40 15.40 2.62
CJV-370 168.00 169.00 1.00 1.45

CJV-371 11400/DMZ -65/20 26.00 27.00 1.00 1.63
CJV-371 48.00 53.50 5.50 1.74
CJV-371 58.00 59.40 1.40 0.76
CJV-371 62.40 64.40 2.00 0.91
CJV-371 73.00 80.80 7.80 1.16
CJV-371 89.10 90.10 1.00 2.61
CJV-371 95.50 99.70 4.20 2.72
CJV-371 103.00 104.00 1.00 0.61
CJV-371 132.00 133.00 1.00 0.79
CJV-371 138.50 141.40 2.90 4.14
CJV-371 164.50 165.50 1.00 1.14

CJV-372 11400/DMZ -80/20 25.70 26.70 1.00 4.07
CJV-372 70.10 71.00 0.90 0.71
CJV-372 96.80 99.60 2.80 0.68
CJV-372 110.70 114.20 3.50 1.59
CJV-372 116.50 127.90 11.40 5.13
CJV-372 158.70 160.10 1.40 4.98
CJV-372 167.50 168.70 1.20 1.30

CJV-382 2220E/DMZ-X -70/20 76.80 81.20 4.40 9.89
CJV-382 102.20 104.20 2.00 2.69
CJV-382 108.20 114.80 6.60 2.14
CJV-382 129.60 130.20 0.60 5.46
CJV-382 176.50 178.60 2.10 1.54

CJV-392 9800/DMZ -65/20 32.50 39.50 7.00 11.08
CJV-392 113.00 113.80 0.80 1.22

CJV-393 Shallow hole - no significant assays

CJV-394 9800/DMZ -60/20 29.80 31.00 1.20 0.69
CJV-394 77.40 78.40 1.00 3.30
CJV-394 89.40 91.00 1.60 3.13
CJV-394 96.40 98.00 1.60 2.59
CJV-394 101.40 115.40 14.00 6.23
CJV-394 160.80 162.10 1.30 0.95

CJV-395 1720E/DMZ-X -45/20 48.70 49.70 1.00 1.87
CJV-395 77.20 77.80 0.60 3.90
CJV-395 102.00 103.00 1.00 0.71
CJV-395 107.50 108.20 0.70 0.92
CJV-395 116.00 117.00 1.00 1.79
CJV-395 121.10 121.60 0.50 0.62
CJV-395 123.00 124.00 1.00 0.71
CJV-395 129.20 131.20 2.00 1.70
CJV-395 136.20 138.20 2.00 0.94

CJV-396 1720E/DMZ-X -65/20 59.50 60.50 1.00 1.35
CJV-396 64.20 65.20 1.00 1.61
CJV-396 93.00 94.50 1.50 1.68
CJV-396 97.00 103.50 6.50 1.66
CJV-396 107.50 108.50 1.00 0.73
CJV-396 113.00 122.70 9.70 3.78
CJV-396 125.00 128.00 3.00 1.21
CJV-396 148.70 149.70 1.00 0.51

CJV-397 9150/DMZ -50/20 88.80 93.00 4.20 4.10
CJV-397 111.40 130.00 18.60 3.80
CJV-397 134.00 140.00 6.00 2.86

CJV-398 9150/DMZ -65/20 95.00 97.20 2.20 3.28
CJV-398 120.30 132.20 11.90 3.28
CJV-398 135.70 137.80 2.10 7.27
CJV-398 149.00 150.00 1.00 3.68
CJV-398 153.20 155.60 2.40 2.13

CJV-399 9150/DMZ -80/20 104.80 106.80 2.00 1.07
CJV-399 110.60 112.80 2.20 1.40
CJV-399 115.20 118.00 2.80 1.23
CJV-399 124.30 124.90 0.60 4.90
CJV-399 157.00 161.80 4.80 2.25
CJV-399 164.30 165.80 1.50 0.60
CJV-399 177.90 182.10 4.20 3.40

CJV-400 1720E/DMZ-X -45/20 111.00 112.00 1.00 2.65
CJV-400 134.70 135.70 1.00 3.44
CJV-400 142.60 148.20 5.60 0.60

CJV-401 Assays pending

CJV-402 2220E/DMZ-X -65/20 43.00 44.00 1.00 0.54
CJV-402 66.00 72.80 6.80 2.01

CJV-402 75.60 78.80 3.20 5.07
CJV-402 96.20 96.70 0.50 2.90

CJV-403 Assays pending

CJV-404 Assays pending

CJV-405 2060E/DMZ-X -65/20 19.40 21.40 2.00 1.03
CJV-405 60.00 67.00 7.00 10.25
CJV-405 80.00 81.00 1.00 0.95
CJV-405 95.30 99.60 4.30 5.30
CJV-405 111.00 113.00 2.00 3.37
CJV-405 121.00 122.00 1.00 0.50
CJV-405 170.10 170.60 0.50 1.05

CJV-406 9400/DMZ -53/20 71.70 72.60 0.90 5.72
CJV-406 81.80 83.10 1.30 1.78
CJV-406 122.80 133.20 10.40 3.91

CJV-407 1720E/DMZ-X -45/20 135.00 142.20 7.20 1.46
CJV-407 147.80 150.80 3.00 1.17
CJV-407 153.80 155.80 2.00 0.68
CJV-407 166.00 168.00 2.00 0.79
CJV-407 171.00 172.00 1.00 0.83
CJV-407 174.00 175.00 1.00 0.88
CJV-407 189.00 191.00 2.00 16.99
CJV-407 211.30 212.30 1.00 0.66
CJV-407 221.40 222.00 0.60 2.81

CJV-408 1720E/DMZ-X -65/20 112.00 113.00 1.00 1.45
CJV-408 131.70 133.80 2.10 1.17
CJV-408 136.80 140.60 3.80 1.68
CJV-408 162.60 165.60 3.00 1.25
CJV-408 179.50 180.20 0.70 1.80
CJV-408 182.80 187.50 4.70 9.94
CJV-408 205.00 209.00 4.00 0.56

CJV-409 2220E/DMZ-X -45/20 18.60 20.10 1.50 2.96
CJV-409 52.90 53.90 1.00 0.51
CJV-409 56.50 65.20 8.70 8.12
CJV-409 80.10 81.10 1.00 2.89
CJV-409 100.00 105.40 5.40 0.68
CJV-409 128.50 129.50 1.00 0.67

CJV-410 1720E/DMZ-X -55/20 113.80 118.60 4.80 0.80
CJV-410 131.70 132.70 1.00 2.11
CJV-410 140.30 141.50 1.20 3.70
CJV-410 149.80 150.80 1.00 0.54
CJV-410 163.10 166.10 3.00 0.78

CJV-411 2060E/DMZ-X -45/20 64.20 68.00 3.80 4.32
CJV-411 88.80 90.30 1.50 1.79
CJV-411 123.20 125.00 1.80 0.73
CJV-411 153.80 158.00 4.20 0.82
CJV-411 164.20 165.70 1.50 0.68
CJV-411 183.00 184.00 1.00 0.53
CJV-411 188.00 188.90 0.90 2.37

CJV-412 2567E/DMZ-X -85/20 31.00 43.00 12.00 10.09
CJV-412 56.20 57.80 1.60 2.04
CJV-412 64.20 66.80 2.60 2.47
CJV-412 89.00 91.00 2.00 5.09
CJV-412 112.60 123.00 10.40 1.82
CJV-412 142.00 144.00 2.00 0.72

CJV-413 9400/DMZ -65/20 72.30 73.80 1.50 1.73
CJV-413 84.90 86.00 1.10 5.28
CJV-413 126.90 128.90 2.00 2.23
CJV-413 131.00 140.00 9.00 0.84
CJV-413 145.50 149.90 4.40 1.86

CJV-414 2567E/DMZ-X -65/20 36.00 54.20 18.20 2.34
CJV-414 58.90 65.00 6.10 5.33
CJV-414 71.50 103.30 31.80 3.39
CJV-414 105.50 107.50 2.00 0.93
CJV-414 111.30 112.30 1.00 1.24
CJV-414 117.30 118.30 1.00 0.73

CJV-415 2220E/DMZ-X -45/20 11.00 12.50 1.50 0.73
CJV-415 34.20 40.30 6.10 11.09

CJV-416 Assays pending

CJV-417 Assays pending

CJV-418 9400/DMZ -80/20 98.20 99.00 0.80 4.48
CJV-418 146.50 150.50 4.00 0.53

CJV-419 9400/DMZ -75/20 41.40 42.40 1.00 1.00
CJV-419 48.00 66.60 18.60 4.76
CJV-419 75.50 77.10 1.60 1.32
CJV-419 112.10 113.10 1.00 0.65

DMZ: Dachang Main Zone - The original 2km long zone of
mineralization defined by the 2006 DDH program
DMZ-X: Dachang Main Zone Extension - A 1.5 km long zone of
mineralization extending off the eastern end of the DMZ as
defined by the 2007 DDH program


Assay cut-off for the above table was at 0.5 gpt Au, however, intervals were determined by geological interpretation of consistent mineralized zones. Broader intervals may include waste intervals of up to 2m. There was no evidence of nugget effect and none were topcut. True widths for the intervals above have yet to be determined.

Infill holes are testing continuity of the Company's existing NI 43-101-compliant inferred resource area on the total 3+ km extent of the Dachang Main Zone (DMZ), as described in the Company's press release of April 10, 2008. The sulphide mineralization of the DMZ is open to depth along most of this defined fault structure and last section tested (Section 2900 East) shows it is still open to the east. A visual representation of the location of the drill holes in this release can be seen at: http://www.corebox.net/properties/dachang/.

Sample Methodology:

Drill core samples were taken at geologically 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. Drill core samples were shipped to SGS Geochemical Laboratories ("SGS") located in Kunming and Tianjin, China for sample preparation and 50g fire assay with AA finish. 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 reference samples 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 transshipment points between Golmud and the laboratories. Exploration at Dachang was conducted with the assistance of the numerous professionals from the Qinghai Geological Survey Institute, working in co-operation with Inter-Citic's technical team on site and supervised by Mr. Garth Pierce, Vice-President of Exploration.

Mr. Michael W. Leahey, P.Geo., the Company's internal Qualified Person under the requirements of National Instrument 43-101, has reviewed a copy of this press release.

Mr. B. Terrence Hennessey, P.Geo., of Micon International Limited is a Qualified Person under the requirements of National Instrument 43-101 and has reviewed a copy of this press release.

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, including its Dachang Gold Project in Qinghai Province. 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 2007 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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