Inter-Citic Mineral Technologies Inc. today announced that Mr. Cheong Wing Domine Ko, CPA. MBA, the Chief Financial Officer of Henderson China, has been appointed to the Board of Directors of the Company. He replaces Mr. Dennis Wong who has resigned.

James J. Moore, President and CEO, warmly welcomed Mr. Ko to the Board. He noted that Mr. Ko's involvement is particularly relevant because Henderson China's parent company is a major shareholder of Inter-Citic and the two companies are equal partners in the development of a major metals trading internet portal focused on China.

Mr. Ko has been a member of the American Institute of Certified Public Accountants and a fellow member of the Hong Kong Society of Accountants. His MBA is from Murdoch University in Perth, Australia.

Separately, Inter-Citic announced that, subject to regulatory approval, it has granted stock options to a Consultant of the Company in the amount of 50,000 common shares in the capital stock of the Company, at a price of $0.96 per share for a period of five years.

Toronto-based Inter-Citic Mineral Technologies Inc. is an investment holding company applying western merchant banking fundamentals to China. It has forged partnerships with several large, financially strong and established funding groups in Hong Kong and China. In addition to its investment in the rare earth industry, the Company, in conjunction with partners, is evaluating the creation of an on-line Business-to-Business metals exchange and the application of advanced process technology for the development of zinc ore deposits in the PRC. The Company also owns advanced mineral processing technology now undergoing pre-market testing.

Inter-Citic's shares trade on the Canadian Venture Exchange under the symbol ICI.

FOR FURTHER INFORMATION PLEASE CONTACT:

James J. Moore, President & CEO (416) 363-5055 Inter-Citic Mineral Technologies Inc. (invest@inter-citic.com)

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

(This release and other information are available at http://www.inter-citic.com)

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