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Inca One Reports August Sales of US$3.5 Million

Vancouver, British Columbia--(Newsfile Corp. - September 27, 2022) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two mineral processing facilities in Peru, (the "Plants") reports consolidated sales for August and comparative year-over-year ("YoY") operational results.

Coming off the strongest July sales ever reported, Inca One reports August sales of approximately US$3.5 million (unaudited), a slight 4% decrease YoY compared to August 2021 sales of US$3.6 million.

The trailing twelve month trend from August, continues to reflect positive results, with sales reaching approximately US$50.4 million, a 57% increase YoY over the comparable 12 month period of US$32.2 million.



Monthly Gold Sales (US$)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2645/138503_graph.jpg

Combined milling activities from both Plants reached 5,708 tonnes, averaging 184 tonnes per day ("TPD") throughput for the month. This total represents approximately 40% of our consolidated permitted capacity of 450 TPD. Deliveries for the month reached 6,046 tonnes to both plants.

The Company also reports it has sourced a revolving US$2 million trade finance facility, that will increase near term working capital for ore supply.

About Inca One

Inca One Gold Corp is a gold producer operating two fully permitted, gold mineral processing facilities in Peru. The Company possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One and has produced more than 116,000 ounces of gold, generating over US$165 million in sales from its processing operations. Inca One is led by an experienced and capable management team that has established the Company as a trusted leader in servicing permitted, small-scale and artisanal miners (ASM) in Peru. Peru is one of the world's largest producers of gold, and its ASM sector is estimated by government officials to be valued in the billions of dollars annually. To learn more, visit www.incaone.com.

Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2645/138503_322a93a004c98b02_004full.jpg

On behalf of the Board,

Edward Kelly
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
ktsakumis@incaone.com

604-568-4877

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, they involve inherent risks and uncertainties by their very nature. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operating results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138503