TORONTO, ONTARIO, Oct. 6, 2009 (Marketwire) -- Inter-Citic Minerals Inc. (TSX:ICI) ("Inter-Citic" or "the Company") President and CEO James Moore, is pleased to announce it has engaged experienced mining engineer Malcolm Swallow to lead the development of its Dachang Gold Project.
Mr. Swallow is a senior mining industry professional with over thirty five years of operations and project management experience in the mining industry, principally concentrating on the evaluation, development, construction and operation of underground and open pit mines and their associated plants and infrastructure. He was the Project Manager for Imperial Metals Corporation's Flagship Mount Polley Mine, directing the build team on all aspects of the $125 million construction of a 19,000 metric tonne per day open pit gold copper mine, which was constructed 4 months ahead of schedule and 10% under budget. Mr. Swallow has extensive experience in the evaluation and development of operations from green field sites through planning, permitting, feasibility and financing, to construction and then into production. Most recent experience includes the construction of large scale open pit operations, planning, permitting, control of shaft sinkers, contractors, consultants, metallurgical test work, government and bank negotiation, and all other work involved in mine management and corporate development.
"We are very pleased to have someone of Malcolm's experience and credentials bringing the defined resource at Dachang forward towards production while we continue to explore Dachang's further potential," said Inter-Citic's President and CEO James Moore. "Malcolm's past experience shows he not only knows how to build a gold mine, but that he knows how to build gold mines ahead of schedule and under budget."
Malcolm Swallow received his B.Sc. (Hons.) Mining Engineering in 1972. He is an Associate of the Royal School Mines, a Fellow of the Institute of Materials, Minerals and Mining, a Chartered Engineer (UK), a European Engineer and a Professional Engineer, (British Columbia). Mr. Swallow has also been a member of the Inter-Citic board since 2007.
"I am very pleased to be working to bring the Dachang Gold Project forward to full bankable feasibility over the next year and then forward through construction into production in the shortest possible time," said Malcolm Swallow. "I have worked on many gold mines around the world and Dachang stands out as an exceptional gold project. The recent Scoping Study demonstrated its excellent economic potential, along with robust grade and good metallurgy, and I believe additional work will result in further improvement in economics by reducing costs and optimizing the mine design itself."
On Behalf of the Board:
James J. Moore, President & CEO
Toronto-based Inter-Citic Minerals Inc. is a gold exploration and development company with property 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.