Inter-Citic Minerals Inc. Announces Positive Scoping Study and Updated Resource Estimate at Dachang Gold Project

TORONTO, ONTARIO, Jul 06 (MARKET WIRE) --
Inter-Citic Minerals Inc. (TSX: ICI) ("Inter-Citic" or the "Company") is
pleased to announce the results of a positive Scoping Study and
Preliminary Economic Assessment ("PEA", or "Scoping Study") as defined by
NI-43-101 based on the latest resource estimate update for the Company's
Dachang Gold Project located in Qinghai Province in the People's Republic
of China.

James Moore, President and CEO of Inter-Citic, said, "This Scoping Study
demonstrates that with only a small portion of the property fully
explored, our Dachang Gold Project already has the capacity to become a
significant gold producer and a project that can be placed into
production in a short time frame. We are also very pleased with our
conversion rate of Inferred resources to Measured and Indicated. As a
result of our work last year, we are confident that further infill
drilling along the DMZ should result in further conversion of our current
Inferred resource estimate. Our focus during 2009 will be to fulfill
requirements under Chinese law to allow us to advance Dachang to a full
permitting status as soon as possible."

SCOPING STUDY

The Scoping Study has been prepared based upon the mineral resource
update reported below and uses the results derived from a programme of
preliminary process testwork, conceptual mining schedules and cost
forecasts. The Scoping Study has been prepared by qualified, experienced,
independent engineering consulting groups, working under the direction of
Mr. Patrick Gorman, M.Sc., C.Eng., Eur.Ing., MIOMMM, acting in his
capacity as ICI's project development manager.

The preferred case reported in the Scoping Study comprises of an open pit
mine delivering 2 Million tonnes per year of ore to a fully integrated
flotation, Biox(R) and CIL circuit which produces Dore.

Highlights of the preferred case reported in the Scoping Study includes:

- At a gold price of US$750/troy ounce the Dachang project is estimated
to generate an after tax internal rate of return (IRR) in excess of 40%
and an after tax project Net Present Value (NPV5) at a 5% discount rate
in excess of US$198 million.

- At a gold price of US$800/troy ounce, the after tax IRR increases to
47% and NPV5 exceeds US$241 million.

- Total gold production of approximately 1.5 million ounces is forecast
to be generated during a mine life of approximately 9 years

- Estimated minesite cash operating costs average US$404/oz and project
capital cost is forecast to be US$104 million.

The scoping study economic model is based upon conceptually scheduling an
estimated 17.8 Million tonnes of mineral resources at an average grade of
3 grams gold/tonne. This was derived from pit optimizations generated
from using the resource model prepared to update the mineral resource
estimate for the Dachang Main Zone ("DMZ") as reported below. It does not
include resources contained in areas such as Placer Valley.

The Company cautions that the results of this Scoping Study are
preliminary in nature and includes mineral resources that are not mineral
reserves and do not have demonstrated economic viability as defined by NI
43-101. The preliminary economic assessment includes inferred mineral
resources that are considered to be too speculative geologically to have
the economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
preliminary assessment will be realized. There is no certainty that the
preliminary assessment will be realized as presented since certain
engineering parameters related to construction, operating, environment,
geotechnical and other technical and cost factors will require further
systematic assessment and validation during the pre-feasibility study
phase. The results of the Scoping Study are considered to have an
accuracy of +/- 30%.

MINERAL RESOURCE UPDATE

The Company is also pleased to report an update to its inventory of
mineral resources for Dachang, as follows:

- Estimated Measured and Indicated mineral resources of 12.4 million
tonnes grading 3.37 g/t Au (1.34 million ounces contained gold) retaining
over 90% from the original Inferred mineral resource estimate.

- Estimated Inferred mineral resources of 11.9 million tonnes grading
3.00 g/t Au (1.14 million ounces contained gold) for the Dachang Main
Zone ("DMZ"), and 2.4 million tonnes grading 4.82 g/t Au (0.37 million
ounces contained gold) for the NR-2 and other areas, for a total Inferred
mineral resource estimate of 14.3 million tonnes grading 3.31 g/t Au
(1.52 million ounces contained gold).

- These estimates of mineral resources are not affected by any known
environmental, permitting, legal, title, taxation, socio-political,
marketing or other relevant issues.

Dachang Mineral Resources at July 6, 2009

----------------------------------------------------------------------------
Tonnage Grade Gold
Category ('000) (g/t Au) ('000 oz)
----------------------------------------------------------------------------
Measured (DMZ) 4,500 3.65 520
----------------------------------------------------------------------------
Indicated (DMZ) 7,900 3.21 820
----------------------------------------------------------------------------
Total Measured & Indicated (DMZ) 12,400 3.37 1,340
----------------------------------------------------------------------------
Inferred (DMZ) 11,900 3.00 1,140
----------------------------------------------------------------------------
Inferred (NR-2) 1,300 5.81 240
----------------------------------------------------------------------------
Inferred (Exploration) 1,100 3.68 130
----------------------------------------------------------------------------
Total Inferred 14,300 3.28 1,510
----------------------------------------------------------------------------

(Cut off grade for the above table is 0.6 g/t Au)

MINERAL RESOURCES ESTIMATE DETAILS:

In 2008, drilling on the DMZ was designed to test continuity of
mineralization of the fault structures along the 3.5 km strike length
defined in 2007. This testing occurred over drill sections spaced from 20
to 80 meters apart. 268 holes totalling 39,563 meters were drilled on the
DMZ in 2008. Drilling was successful in confirming grade and continuity
of the mineralization and extended strike of both the eastern and western
limits of the DMZ such that the fault is now defined along a 4 km strike.

Drilling was also undertaken in 2008 in the Placer Valley anomaly
approximately 1 km south of the DMZ on anomalous soil and trench results
with some coincident IP targets, consisting of 51 holes totalling 6,573
meters.

Finally, limited drilling was undertaken on IP targets north of the DMZ
with no significant mineralization detected.

DMZ mineral resources were estimated using a block model with block
dimensions of 10 m x 5 m x 5 m and 3-D mineralized wireframes defined
with a cut-off of 0.5 g/t Au. Outlier samples were top cut to 40 g/t Au
and assays within the mineralized zones were composited to 1 m. Block
model grades were interpolated using Ordinary Kriging. The tonnage and
grade at different cut-off grades were calculated using a selective
mining unit (SMU) of 2.5 m x 2.5 m x 2.5 m with Uniform Conditioning. A
bulk density of 2.7 t/m3 was used to convert volume to tonnage.

Blocks within 20 m of a drill hole and for which a minimum five sample
composites from at least 2 drill holes were used to calculate the gold
grade were defined as Measured mineral resources. Blocks within 40 m of a
drill hole and for which a minimum three sample composites from at least
2 drill holes were used to calculate the gold grade were defined as
Indicated mineral resources. Blocks remaining within the mineralized
envelope that did not meet the Measured or Indicated criteria were
categorized as Inferred mineral resources. An economic cut-off grade of
0.6 g/t Au was used for mineral resource reporting.

For NR-2 and other exploration areas, mineral resources were estimated
using a cross-sectional polygonal method. Polygons were drawn using a
cut-off grade of 0.5 g/t Au and projected half the distance to adjacent
sections to generate a mineralized volume. A bulk density of 2.7 t/m3 was
used to convert volume to tonnage. Polygon gold grades are the average of
all sample assays inside the polygon. Mineral resources estimated using
polygons were assigned to the Inferred category. The resource estimate
for the NR-2 Anomaly was not further tested in 2008, and remains
unchanged as described in the Company's press release of December 12,
2005.

The Company will file a new independent technical report within 45 days
of this release.

The updated mineral resource estimate for the DMZ and other exploration
areas were prepared for the Company under the supervision of Stanley C.
Bartlett, P.Geo., of Micon International Co Limited, an independent
"Qualified Person" as that term is defined under National Instrument
43-101. The estimate complies with the CIM mineral resource definitions
referenced in National Instrument 43-101. Mr. B. Terrence Hennessey,
P.Geo., a Qualified Person under the requirements of National Instrument
43-101, has also reviewed a copy of this press release.

OPTION GRANT:

Mark R. Frederick, Chairman of Inter-Citic, also announces that the
Company will seek board approval for the issuance of 2,460,000 options to
directors and employees on Thursday, July 9, 2009. If approved, these
options will be priced as at market close on Wednesday, July 8, 2009 and
will be for a five year term under the Company's Stock Option Plan. The
issuance of these options has been delayed by the Company pending the
release of the above resource update and Scoping Study. Of the 2,460,000
options to be approved, 1,325,000 are to replace director and employee
options that expired earlier this year unexercised and out of the money.
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 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

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