Exploration Licenses Renewed at Inter-Citic's Dachang Gold Project
Mon Dec 8, 9:00 AM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - Dec. 8, 2008) - Inter-Citic Minerals Inc. (TSX: ICI.TO) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to report that two of the key exploration licenses at its Dachang Gold Project have been renewed.
The Ministry of Land and Resources (MOLAR) of the People's Republic of China has recently granted renewals of two exploration licenses comprising a total of approximately 116 square kilometres of the Dachang Gold Project. The renewal is effective immediately and is valid until November 25, 2010, when it will be eligible for further renewal.
The renewed license areas include the Dachang Main Zone and extension, which hosts most of the Company's current NI 43-101 compliant inferred mineral resource estimate.
The 279 square kilometre Dachang Gold Project is comprised of several license areas, all of which have been renewed successfully by Inter-Citic on their individual renewal dates in the past as they have come due.
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
Stephen Lautens
Inter-Citic Minerals Inc.
Vice President, Corporate Communications
(905) 479-5072 x 227
Email: stephen@inter-citic.com
Website: www.inter-citic.com |
