Category: Silver / Gold

Inter-Citic Intersects 32.5 Metres Averaging 3.91 GPT Gold in Step-Out Hole at Dachang

Other Results Include 19.6 Metres Averaging 6.32 GPT Gold And 13.0 Metres Averaging 4.74 GPT Gold

Inter-Citic Minerals Inc. (TSX: ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report results received from the fifth set of drill holes from the Company's 2008 diamond drill program at its Dachang Gold Project in China. The drill holes reported in this release include both step-out holes in new parts of the property outside of the previously reported NI 43-101 compliant inferred resource area, as well as infill holes on the Dachang Main Zone (DMZ).

Drill Highlights: Drill hole CJV-483 is a step-out hole on the Dachang Main Zone Extension (DMZ-X), and intersected multiple mineralized zones, including 32.5 metres of mineralization averaging 3.91 GPT contained gold.

- Drill hole CJV-495 is a step-out hole on the Dachang Main Zone Extension (DMZ-X), and intersected multiple mineralized zones, including 19.6 metres of mineralization averaging 6.32 GPT contained gold.

- Drill hole CJV-471 is an infill hole on the Dachang Main Zone (DMZ) and intersected multiple mineralized zones, including 13.0 metres of mineralization averaging 4.74 GPT contained gold.

Other results include:

- Drill hole CJV-461 intersected multiple mineralized zones, including 3.5 metres of mineralization averaging 10.67 GPT contained gold. This hole is a step-out hole in a new area of the property outside of the previously reported NI 43-101 compliant inferred resource area.

- Drill hole CJV-475 intersected 4.2 metres of mineralization averaging 7.41 GPT contained gold. This hole is a step-out hole in a new area of the property.

- Drill hole CJV-476 intersected multiple mineralized zones, including 7.1 metres of mineralization averaging 5.36 GPT contained gold. This is an infill hole to the previously reported NI 43-101 compliant inferred resource area.

- Drill hole CJV-477 intersected multiple mineralized zones, including 10.3 metres of mineralization averaging 5.16 GPT contained gold. This is an infill hole.

- Drill hole CJV-478 intersected multiple mineralized zones, including 4.0 metres of mineralization averaging 6.44 GPT contained gold. This hole is a step-out hole in a new area of the property.

- Drill hole CJV-487 intersected multiple mineralized zones, including 6.5 metres of mineralization averaging 5.03 GPT contained gold. This hole is a step-out hole in a new area of the property.

- Drill hole CJV-494 intersected multiple mineralized zones, including 9.4 metres of mineralization averaging 3.62 GPT contained gold. This is an infill hole.

- Drill hole CJV-498 intersected multiple mineralized zones, including 9.0 metres of mineralization averaging 7.00 GPT contained gold. This hole is a step-out hole in a new area of the property.

- Drill hole CJV-504 intersected multiple mineralized zones, including 8.1 metres of mineralization averaging 5.73 GPT contained gold. This hole is a step-out hole in a new area of the property.

- Drill hole CJV-506 intersected multiple mineralized zones, including 1.0 metre of mineralization averaging 14.2 GPT contained gold and another of 3.3 metres of mineralization averaging 5.58 GPT contained gold. This hole is a step-out hole in a new area of the property.

Detailed drilling results are set out in the chart below:


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Diamond        Section/       Dip/        From         To    Drill    Gold
Drill Hole     Location    Azimuth     (Metres)   (Metres)   Width   Assay
No.                       (Degrees)                        (Metres) (grams
                                                                       Per
                                                                     tonne)
---------------------------------------------------------------------------
CJV-457   3065E / DMZ-X     -88/20       21.70      23.70     2.00    0.75
CJV-457                                  70.70      71.90     1.20    1.19
CJV-457                                  81.20      82.30     1.10    1.61
CJV-457                                  92.60      93.40     0.80    1.62
CJV-457                                 106.10     107.10     1.00    1.87
CJV-457                                 124.80     126.00     1.20    4.98
CJV-461   3065E / DMZ-X     -45/20       28.50      33.50     5.00    2.16
CJV-461                                  40.50      41.70     1.20    1.46
CJV-461                                  47.50      48.90     1.40    1.25
CJV-461                                  51.00      52.00     1.00    0.93
CJV-461                                  90.50      91.50     1.00    0.61
CJV-461                                 106.50     110.00     3.50   10.67
CJV-465   3234E / DMZ-X     -88/20  assays pending
CJV-466      11100 /DMZ     -48/20       52.50      53.50     1.00    2.29
CJV-466                                  66.60      71.60     5.00    1.74
CJV-466                                  79.20      82.60     3.40    1.83
CJV-466                                  95.00      95.70     0.70    5.23
CJV-466                                  98.20     101.00     2.80    2.68
CJV-466                                 110.90     114.30     3.40    1.15
CJV-470   3234E / DMZ-X     -45/20  assays pending
CJV-471     10150 / DMZ     -80/20       17.00      18.00     1.00    0.91
CJV-471                                  46.10      59.10    13.00    4.74
CJV-471                                  68.00      71.00     3.00    1.44
CJV-472   2900E / DMZ-X     -74/20  assays pending
CJV-473     10150 / DMZ     -45/20  assays pending
CJV-474   3400E / DMZ-X     -80/20  assays pending
CJV-475   3400E / DMZ-X     -50/20      114.10     118.30     4.20    7.41
CJV-475                                 142.30     143.40     1.10    1.64
CJV-476     11300 / DMZ     -83/20       41.40      42.40     1.00    0.65
CJV-476                                  71.40      72.40     1.00    1.34
CJV-476                                  74.80      75.40     0.60    6.55
CJV-476                                  88.00      89.00     1.00   12.00
CJV-476                                  93.50      94.50     1.00    3.81
CJV-476                                  98.00      98.70     0.70    0.81
CJV-476                                 115.60     119.30     3.70    1.01
CJV-476                                 135.40     136.40     1.00    2.58
CJV-476                                 144.90     145.50     0.60    1.52
CJV-476                                 164.50     166.50     2.00   10.90
CJV-476                                 173.50     179.30     5.80    1.98
CJV-476                                 187.00     188.00     1.00    0.52
CJV-476                                 196.80     203.90     7.10    5.36
CJV-477     11700 / DMZ     -53/20       82.80      83.80     1.00    1.28
CJV-477                                  87.80      89.80     2.00    1.37
CJV-477                                  95.50     100.60     5.10    2.42
CJV-477                                 104.00     105.00     1.00    1.25
CJV-477                                 115.00     125.30    10.30    5.16
CJV-477                                 133.90     134.90     1.00    2.12
CJV-478   2900E / DMZ-X     -88/20       39.60      43.60     4.00    6.44
CJV-478                                  99.30     100.70     1.40    3.20
CJV-478                                 142.50     144.70     2.20    2.13
CJV-478                                 156.20     158.20     2.00    1.81
CJV-479   3400E / DMZ-X     -45/20       49.50      52.60     3.10    0.93
CJV-479                                  75.00      77.00     2.00    0.58
CJV-479                                  87.00      88.30     1.30    0.86
CJV-480     12100 / DMZ     -61/20       60.00      61.00     1.00    0.99
CJV-480                                  73.50      74.50     1.00    1.33
CJV-480                                  87.50      89.50     2.00    3.66
CJV-480                                 102.90     105.00     2.10    1.61
CJV-480                                 109.50     119.00     9.50    1.31
CJV-480                                 135.00     141.90     6.90    2.77
CJV-480                                 149.50     152.60     3.10    2.00
CJV-481     1300W / PVZ     -45/20       17.50      19.00     1.50    0.64
CJV-481                                  24.00      25.00     1.00    0.61
CJV-481                                  70.00      75.00     5.00    1.28
CJV-481                                  94.00      98.00     4.00    1.19
CJV-481                                 171.00     173.30     2.30    1.60
CJV-481                                 177.20     179.50     2.30    2.29
CJV-481                                 191.00     192.00     1.00    0.67
CJV-481                                 198.00     199.00     1.00    1.00
CJV-481                                 211.70     212.50     0.80    0.66
CJV-482     12100 / DMZ     -76/20       63.50      64.80     1.30    1.00
CJV-482                                  90.50      93.60     3.10    3.15
CJV-482                                 105.50     107.50     2.00    0.54
CJV-482                                 112.80     114.30     1.50    2.30
CJV-482                                 122.00     125.00     3.00    0.90
CJV-482                                 135.50     137.60     2.10    2.95
CJV-482                                 152.00     154.00     2.00    1.51
CJV-482                                 159.00     160.00     1.00    0.89
CJV-482                                 170.00     174.00     4.00    2.65
CJV-483   3565E / DMZ-X     -65/20       32.00      64.50    32.50    3.91
CJV-483                                  71.50      73.50     2.00    0.85
CJV-483                                 107.50     108.50     1.00    0.60
CJV-484     11700 / DMZ     -78/20      114.50     116.00     1.50    0.53
CJV-484                                 120.30     125.30     5.00    0.73
CJV-485   3565E / DMZ-X     -48/20       32.50      34.50     2.00    0.81
CJV-485                                  42.50      49.50     7.00    1.64
CJV-485                                  53.00      54.00     1.00    2.01
CJV-485                                  76.70      85.30     8.60    0.91
CJV-485A  3565E / DMZ-X     -45/20       36.50      38.50     2.00    0.50
CJV-486   3900E / DMZ-X     -65/20       24.00      26.00     2.00    0.70
CJV-486                                  66.90      68.60     1.70    2.11
CJV-487     1300W / PVZ     -90/20        2.00       3.00     1.00    0.60
CJV-487                                   9.70      10.70     1.00    0.52
CJV-487                                  24.70      31.20     6.50    5.05
CJV-487                                 101.50     102.40     0.90    5.68
CJV-487                                 120.20     121.20     1.00    1.47
CJV-487                                 147.80     148.50     0.70    1.08
CJV-487                                 155.80     158.80     3.00    2.71
CJV-487                                 172.00     173.00     1.00    0.50
CJV-487                                 175.80     176.80     1.00    1.16
CJV-487                                 198.00     201.00     3.00    1.68
CJV-488     12500 / DMZ     -45/20       30.50      33.50     3.00    5.01
CJV-488                                  37.90      42.90     5.00    0.90
CJV-488                                  62.00      63.00     1.00    0.77
CJV-488                                  67.50      71.00     3.50    4.26
CJV-488                                  78.00      80.00     2.00    1.40
CJV-488                                  86.00      87.20     1.20    2.50
CJV-488                                  90.00      92.00     2.00    4.79
CJV-489     12000 / DMZ     -54/20       81.20      88.80     7.60    1.16
CJV-489                                  91.50      95.50     4.00    2.76
CJV-489                                  98.50     102.00     3.50    1.43
CJV-489                                 105.30     108.30     3.00    1.10
CJV-489                                 120.80     127.00     6.20    3.10
CJV-489                                 135.80     139.80     4.00    1.14
CJV-489                                 145.50     147.70     2.20    2.97
CJV-489                                 159.80     163.60     3.80    2.45
CJV-490     12500 / DMZ     -70/20       37.90      40.00     2.10    1.64
CJV-490                                  42.20      43.70     1.50    0.65
CJV-490                                  59.60      61.60     2.00    2.22
CJV-490                                  68.90      73.30     4.40    0.55
CJV-490                                  91.50      93.50     2.00    3.39
CJV-490                                 114.70     115.70     1.00    1.23
CJV-491     1300W / PVZ     -90/20       23.20      24.30     1.10    2.52
CJV-491                                 102.00     103.10     1.10    2.26
CJV-492     1300W / PVZ     -60/20       16.20      19.20     3.00    0.92
CJV-492                                  87.00      88.00     1.00    0.50
CJV-492                                 145.30     146.40     1.10    0.67
CJV-492                                 147.40     148.40     1.00    0.59
CJV-493   3900E / DMZ-X     -45/20      126.60     127.60     1.00    0.90
CJV-494     12500 / DMZ     -88/20       33.50      34.40     0.90    1.01
CJV-494                                  37.50      40.70     3.20    0.80
CJV-494                                  47.20      48.20     1.00    1.20
CJV-494                                  55.00      56.00     1.00    0.90
CJV-494                                  98.20      99.20     1.00    0.58
CJV-494                                 108.90     111.40     2.50    2.86
CJV-494                                 117.30     126.70     9.40    3.62
CJV-494                                 142.90     143.70     0.80    0.54
CJV-494                                 151.70     152.50     0.80    0.78
CJV-494                                 157.60     158.30     0.70    1.90
CJV-495   3565E / DMZ-X     -88/20       33.00      37.00     4.00    1.58
CJV-495                                  65.70      85.30    19.60    6.32
CJV-495                                  90.30      91.30     1.00    0.51
CJV-495                                 103.10     103.80     0.70    0.62
CJV-496     12000 / DMZ     -77/20       72.40      76.40     4.00    0.59
CJV-496                                 108.50     109.50     1.00    0.62
CJV-496                                 118.70     119.70     1.00    0.73
CJV-496                                 122.00     123.30     1.30    1.15
CJV-496                                 127.00     130.00     3.00    1.96
CJV-496                                 161.30     162.80     1.50    1.60
CJV-496                                 170.00     173.20     3.20    0.91
CJV-496                                 181.50     182.70     1.20    1.36
CJV-496                                 186.60     188.60     2.00    0.85
CJV-497   2250E / DMZ-X     -45/20       30.00      31.00     1.00    2.54
CJV-498      1100W /PVZ     -45/20        3.70       7.60     3.90    0.50
CJV-498                                  23.00      32.00     9.00    7.00
CJV-498                                  45.60      47.10     1.50    0.99
CJV-498                                  92.00      93.00     1.00    1.04
CJV-498                                 142.00     143.00     1.00    0.59
CJV-498                                 156.70     161.10     4.40    1.51
CJV-498                                 167.60     169.60     2.00    1.80
CJV-499     12500 / DMZ     -70/20       53.10      55.40     2.30    3.27
CJV-499                                  70.50      73.00     2.50    4.16
CJV-499                                  86.00      87.20     1.20    2.40
CJV-499                                 121.10     129.00     7.90    2.23
CJV-499                                 131.60     133.50     1.90    2.49
CJV-499                                 141.00     142.00     1.00    0.51
CJV-500   3065E / DMZ-X     -45/20    no significant assays
CJV-501   3900E / DMZ-X     -88/20      147.00     148.00     1.00    0.51
CJV-501                                 163.50     164.50     1.00    0.65
CJV-502      8500 / DMZ     -45/20       39.00      49.00    10.00    1.84
CJV-502                                  67.40      69.80     2.40    2.99
CJV-502                                  97.00     100.00     3.00    1.51
CJV-503   3565E / DMZ-X     -80/20       22.00      23.50     1.50    1.33
CJV-503                                  49.00      49.90     0.90    0.51
CJV-503                                  56.20      57.80     1.60    3.74
CJV-503                                  72.00      73.00     1.00    1.27
CJV-503                                  75.70      78.00     2.30    2.49
CJV-503                                 110.70     111.70     1.00    0.96
CJV-503                                 125.50     126.30     0.80    2.03
CJV-503                                 138.30     139.30     1.00    0.75
CJV-504   3565E / DMZ-X     -70/20       93.40     101.50     8.10    5.73
CJV-505     12500 / DMZ     -70/20       58.00      59.00     1.00    0.75
CJV-505                                  73.00      75.10     2.10    2.47
CJV-505                                 131.00     132.00     1.00    1.12
CJV-505                                 138.80     141.80     3.00    4.65
CJV-505                                 148.50     151.70     3.20    0.99
CJV-505                                 158.30     159.30     1.00    1.74
CJV-505                                 171.50     172.50     1.00    1.41
CJV-506      1100W /PVZ     -89/20       30.00      34.00     4.00    0.70
CJV-506                                  65.00      66.00     1.00    1.02
CJV-506                                 129.40     130.40     1.00    1.51
CJV-506                                 145.20     146.20     1.00   14.20
CJV-506                                 175.80     179.10     3.30    5.58
CJV-506                                 208.30     209.30     1.00    1.60
CJV-506                                 213.30     214.30     1.00    0.58
CJV-506                                 217.30     218.65     1.35    0.67
CJV-507    2250E /DMZ-X     -89/20    no significant assays
CJV-508      8500 / DMZ     -65/20    lost in fault zone
CJV-509   3565E / DMZ-X     -45/20       48.00      57.30     9.30    1.02
CJV-509                                  71.80      74.50     2.70    0.93
CJV-510      1100W /PVZ     -68/20       13.70      16.70     3.00    1.39
CJV-510                                  38.00      39.00     1.00    2.88
CJV-510                                  49.00      50.00     1.00    1.19
CJV-510                                  64.00      67.00     3.00    1.66
CJV-510                                  84.40      85.60     1.20    4.53
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
PVZ:   Placer Valley Zone - A south dipping mineralized fault 1 km south of
       the DMZ

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.

Step-out drill holes are in new areas of the Dachang Gold Property adjacent to the Company's existing NI 43-101-compliant inferred resource area on the DMZ, and on the Placer Valley anomaly (PVZ), a mineralized fault zone identified approximately 1 km to the south of the DMZ. 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 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 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/ or as a map on the Company's website.

Seven drills are currently operating at Dachang to complete up to 50,000 metres of drilling this year aimed at increasing much of the existing inferred resource inventory to an indicated level as well as resource expansion in new areas of the property. Inter-Citic has now completed the majority of its infill program and is currently drilling in new areas outside the Company's existing NI 43-101-compliant inferred resource area.

More than 100 additional drill holes have been completed at Dachang and are pending assay results, which will be reported as they become available.

Inter-Citic is also pleased to report that its third quarter financial statements for the period ending August 31, 2008, shows Inter-Citic had in excess of $20 million CDN in cash. The Company's third quarter financial statements dated October 10, 2008 are available on Inter-Citic's website and SEDAR.

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.

Subject to regulatory approval, the Company also announces that the Board has approved the grant of 100,000 stock options to Mr. Patrick Gorman pursuant to the terms of Inter-Citic's Stock Option Plan, at an exercise price of $0.50 with an expiry date of November 3, 2010. As reported in the Company's press release of July 22, 2008, Mr. Gorman is a chartered mining engineer and is a competent/qualified person as defined by the NI-43-101 and AIM rules, and has been engaged to oversee the preparation and drafting of a Preliminary Scoping Study for Inter-Citic's Dachang Gold Project.

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.

Contacts: Inter-Citic Minerals Inc. Stephen Lautens Vice President, Corporate Communications (905) 479-5072 x 227 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.inter-citic.com

SOURCE: Inter-Citic Minerals Inc.

mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.inter-citic.com

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