October 11, 2011

Inter-Citic Minerals Inc. (TSX: ICI; USOTC: ICMTF) is exploring and developing the 83%-controlled Dachang Gold Project in western China. The company is expanding its current NI 43-101-compliant global resource of 3.8 million oz. gold, characterized as follows:

Measured & Ind’d1.88 mil oz @ 3.41 grams/tonne gold

Inferred1.93 mil oz @ 2.83 g/t

Dachang is one of the largest open-pittable gold resources in China, the country with the world’s largest annual gold production, where the gold-producing companies are anxious to gain control of new large gold resources, and particularly, open-pittable gold grading 3 grams/tonne.

This is not an idle assertion. Last week, ICI issued a news release stating that the Board has rejected an unsolicited proposal from a large Chinese mining company to acquire all shares of ICI for between $1.20 and $1.70/share. Given current market conditions and the importance of gold in China, it is conceivable that further proposals may emerge.

ICI has a market cap today of approx. $120 million ($1.00/share, 117.5 mil shares outstanding). Each gold oz in the ground is valued by the market at just $38/oz today. For comparison, the average in-situ gold oz among advanced exploration companies is valued at approx. $106/oz according to Canaccord/Genuity mining analysts (Jr. Mining Weekly, dated October 4, 2011, covering 37 advanced gold explorers).

Here’s where a tremendous opportunity lies! With Inter-Citic’s current actions, this low valuation ($38/oz in-situ, while many others less qualified avg $106/oz in-situ) will not last and is expected to be gone fast.

•Chinese feasibility is being completed. This will provide crucial data and open the door to completion of mine permitting, and contribute to a potential listing on the Hong Kong Exchange, where the few gold companies enjoy higher valuations. The PEA completed by independent consultants in August 2009 was highly positive, and based on a gold price of $750/oz.

•Current exploration includes 25,000 meters of drilling and 10,000 meters of trenching. A significant portion of the drilling is concentrated on extensions of mineralization to depth, to the east and on-strike with the main zone, and in additional new areas marked by trenching and soil sampling with high gold values. Management is confident of new gold discoveries at Dachang before year’s end, adding more value in the short-term.

Like many other companies, ICI has been pounded in recent weeks, and is very attractively priced. Unlike other firms, 65% of this company’s shares are controlled by very large Chinese investors who are not selling a share because they see first-hand how coveted this large gold resource is, directly there in China.

Review the unique value proposition that Inter-Citic offers today. Visit http://list.netatlantic.com/t/57696492/93941935/117336/0/">www.inter-citic.com, call CEO Jim Moore or Vice-President, Communications Stephen Lautens at 1-905-479-5072,email info@inter-citic.com, or give us a call anytime at 1-818-542-6880.

Thank you,

George Duggan

Snr Vice President

Michael Baybak & Company Inc.

Communications Counsel for Inter-Citic Minerals Inc.

gduggan@nat-media.com

Note the Chinese connection. WE have it also I presume. JW