Inter-Citic Minerals Inc.
TSX VENTURE : ICI

Inter-Citic Minerals Inc.

November 01, 2005 12:48 ET

Inter-Citic's Dachang Exploration Continues to Produce Encouraging Results. First Drill Hole Reports 7.59 grams per tonne Gold over 7 Metres. Trenching Results in More New Gold Discoveries.

TORONTO, ONTARIO--(CCNMatthews - Nov. 1, 2005) - Inter-Citic Minerals Inc. (TSX VENTURE:ICI) ("Inter-Citic" or "The Company") President, James Moore, is pleased to provide an update on its Dachang Gold Project exploration program in the Province of Qinghai, China.

On October 7, 2005 the Company announced the commencement of a 3,000 metre drill program. This press release reports results achieved from the first hole drilled in this program as well as results from trenches located in the Central Dachang district. Additional results from drilling and trenching operations will be released when they are received.

Highlights of Exploration Results:

Observations from recent exploration include the following:

1. The first hole of 2005, hole CJV-16, intersected gold mineralization at a vertical depth of 55 metres. The mineralization intersected in CJV-16 undercut the mineralization exposed this year in trench TC 5101 ( 10.25 gpt Au over 4 metres - see press release dated September 7, 2005).

2. Hole CJV-16 is on strike with hole CJV-15 (6.5 gpt Au over 8 metres occurring at a vertical depth of approximately 100 metres), which was drilled by Inter-Citic during 2004. CJV-16 is located 600 metres west along strike from drill hole CJV-15.

3. Trenching in other areas of the property continues to expose mineralization of material width and grade contained within well defined sheer zones.

4. A spatial relationship is consistently evident between the gold in soil anomalies and underlying strongly altered sheer zones.

5. The company has yet to trench a gold in soil anomaly which has not exposed gold mineralization.

6. Unlike other areas of the property, trenching in Central Dachang encountered thicker overburden as well as more extensive permafrost. In spite of these conditions, the gold zones exposed by trenching are within mineralized structures displaying some of the most intense alteration observed on the property to date.

James Moore, the Company's President & CEO commented: " I continue to be encouraged by the results being achieved by Garth and his crew at Dachang. The results from the first hole drilled in 2005 are consistent with our expectations. At the Dachang camp, drill rate productivity is in line with targets and we look forward to releasing results from additional holes as soon as they are available."

Hole CJV-16:

Hole CJV-16 is the first hole drilled in 2005. It was drilled on line 51 of the NR-2 anomaly in a southwesterly direction at a dip of minus 46 degrees and was 112 metres long. This hole intersected 7.59 gpt gold over 7.0 metres from 74.5 metres to 81.5 metres. The mineralization discovered in hole CJV-16 was intersected at a vertical depth of 55 metres and is below the mineralization observed in trench 5101.



Trench Results From Central Dachang Exploration:

Trench Assay
Number: Result

TC-6702 2.57 gpt gold over 18 metres.
TC-5402 6.09 gpt gold over 9 metres.
TC-5401 1.0 gpt gold over 9 metres and a second
zone of 0.743 gpt gold over 4.5 metres.


Each of the trenches was excavated in the Central Dachang district on separate gold soil anomalies.

Trench Sampling and Assay Procedure:

The 2005 trenching program is testing the 22 gold soil geochemical anomalies discovered in 2004. The trenches average 350 metres in length and are typically up to two metres deep. All trenches are mapped in detail and channel samples are taken at one metre intervals across all mineralized zones. Each sample, comprising approximately 5 kg of material, is secured and transported to a qualified offsite laboratory. Qualified Chinese geologists and technicians under the direct field supervision of Mr. Garth Pierce, Inter-Citic's Vice President of Exploration, carry out the trench sampling. The trench samples are delivered to the Research Center of Xi'an Institute of Geology and Mineral Resources, an independent arm's length Chinese government laboratory in Xi'an, Shaanxi Province, China. At the laboratory each sample is dried, crushed and a portion ground to minus 200 mesh. The gold content of each sample was determined by analyzing a 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 results is tested through the systematic inclusion of standards and replicate samples.

Drill Core Sample and Assay Procedure:

The drill core was logged and sampled under the supervision of Mr. Garth Pierce. The sample interval was split with a diamond saw and sampled over designated intervals of typically 1 metre. One half of the core is archived at the core storage facility on site while the other half was shipped to SGS labs located in Kunming and Tianjin, China for fire assay. Accuracy of the results is tested through the systematic inclusion of certified reference standards, blanks and duplicate samples.

Exploration at Dachang was conducted with the assistance of the numerous professionals from the Qinghai Geological Survey Institute ("QGSI"), working in co-operation with Inter-Citic's technical team. David G. Wahl, P.Eng., P.Geo., 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.

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