$6.3 Million Exploration Program at Inter-Citic's Dachang Gold Project Well Underway
One Third of Budget Earmarked for Deep Hole Drilling
TORONTO, ONTARIO, Aug 8, 2011 --Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "theCompany") President and CEO James Moore, is pleased to announce thatthe 2011 exploration program of the Company's Dachang Gold Project isunderway.
The Company has presently allocated approximately CDN$6.3million to exploration in 2011 to include up to 25,000 meters ofdrilling and 10,000 meters of trenching. Inter-Citic's 2011exploration program is geared towards further resource growth on newareas of the property.
For the first time Inter-Citic will also besystematically drilling under the current resource area of the DachangMain Zone ("DMZ"), which has only been drilled to a vertical depth ofapproximately 150 m from the surface. The Company will be testing themineralized fault structure of the DMZ at depths of between 500 m and750 m.
Two of the Company's drills are presently deployed inthe previously unexplored gap zone off the eastern extent of theDachang Main Zone resource area. Early drilling in 2011 has alreadyvisually identified traces in core samples of a fault structure in a500 metre step out hole on strike with the Dachang Main Zone.
An additional drill is expected to be deployed later this week on a 200 metre step out on the Acadia Zone.
Exploration in 2011 will continue in the Acadia, XP, andNR-1 Zones, as well as new work off the eastern end of the currentDachang Main Zone, where a gap between known mineralization extendsfor approximately 4 km under thicker overburden. On the far side ofthe gap soil geochemistry has shown a significant number of large goldsoil anomalies in the South East Area Zone, which the Companybelieves is likely the continuation of the Dachang Main Zonemineralization not visible under the gap's heavier soil cover.
"We're looking forward to another excellent season atDachang," said Inter-Citic President & CEO James Moore, "includingpursuing new resources on some of the many strong gold in soilsurface anomalies throughout the property, and possibly below thecurrent DMZ resource."
Mr. Gerald Bidwell, P.Geo., the Company's internalQualified Person under the requirements of National Instrument 43-101,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 anexploration and development company advancing its Dachang Gold Projectin the People's Republic of China. Inter-Citic is listed on the TSXunder 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 2010Financial Statements, MD&A and Annual Information Form, along withupdates, available on the SEDAR website at www.sedar.com. Thestatements herein that are not historical facts are forward-lookingstatements. These statements address future events and conditions andso involve inherent risks and uncertainties, as disclosed under theheading "Risk Factors" in the company's periodic filings with Canadiansecurities regulators. Actual results could differ from thosecurrently projected. The Company does not assume the obligation toupdate any forward-looking statement.
Inter-Citic Minerals Inc. Stephen Lautens Vice President, Corporate Communications (905) 479-5072 ir@inter-citic.com
www.inter-citic.com