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Inca One Reports July Sales of US$3.7 Million

Vancouver, British Columbia--(Newsfile Corp. - August 17, 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"), announces July production records and comparative year-over-year ("YoY") production results representing consolidated operations.

The Company reports its strongest sales in any prior July of approximately US$3.7 million (unaudited), a 12% increase YoY compared to July 2021 sales of US$3.3 million. Accounting for this increase in sales was a continued strong supply of ore delivered to both Plants for milling. In our first seven months of this year, sales are US$33.3 million, up 73% YoY over the comparable 2021 period (US$19.2 million).

Consolidated Operations

July 2022

July 2021

YoY change

Deliveries (tonnes)

6,404

3,997

60%

Milling (tonnes)

6,614

3,478

90%

Gold Production (ounces)

2,422

1,218

99%

Sales (US$)

$3.7M

$3.3M

12%

 

Combined milling activities from both Plants increased 90% YoY, reaching 6,614 tonnes and averaging 213 tonnes per day ("TPD") throughput for the month. This total represents approximately 47% of our permitted capacity of 450 TPD at both Plants. Deliveries for the month also reached all-time highs for any month of July, increasing 60% YoY.

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/2645/134104_fc2b7a3ec4394a7c_001full.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/134104