Inter-Citic Minerals Inc. Files Preliminary Economic Assessment and Updated Resource Estimate at Dachang Gold Project

TORONTO, ONTARIO--(Marketwire - 08/24/09) - Inter-Citic Minerals Inc. (TSX:ICI - News) ("Inter-Citic" or the "Company") is pleased to announce it has filed its Preliminary Economic Assessment ("PEA") and resource estimate as defined by NI 43-101 for the Company's Dachang Gold Project located in Qinghai Province in the People's Republic of China. The highlights of the PEA and resource estimate were previously announced in a press release dated July 6, 2009.

The document, filed August 20, 2009, is available on SEDAR and through the Company's website, www.inter-citic.com.

On Behalf of the Board:

James J. Moore, President & CEO

ABOUT INTER-CITIC:

Toronto-based Inter-Citic Minerals Inc. is a gold 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 2008 Financial Statements and Annual Information Form, and quarterly updates, 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
stephen@inter-citic.com
www.inter-citic.com