Vancouver, British Columbia–(Newsfile Corp. – March 15, 2022) – INCA ONE GOLD CORP. (TSXV: CNIB) (OTCQB: INCAF) (ESF: SU92) (“Inca One“or the”Company“), a gold producer operating two ore processing facilities in Peru, reports record deliveries, crushing and sales in February from its Chala One plant (“Shala a“) and Kori One Plant (“Kori One“), collectively (“Inca One Plants“) and year-over-year comparison (“Annual“) production figures representing the consolidated operations of the two facilities.

The company reports record monthly sales of approximately US$4.3 million (unaudited) in February 2022, a 13% year-over-year increase from February 2021 sales of US$3.8 million.

Consolidated operations

Feb. 2022

Feb. 2021

Annual change

Deliveries (tons)

5,724

2,123

170%

Grinding (tons)

5,051

2,383

112%

Gold production (ounces)

1,883

1,332

41%

Sales (USD)

$4.3M

$3.8M

13%

The Company also reports year-over-year increases in ore purchases of 170% and crushing activities of 112% compared to February 2021, averaging 180 tonnes per day (“TPD“) debit for the month.

Demand for machining services was robust given the strong commodity market and rising gold price in the first two months of the year.

About Inca One

Inca One Gold Corp is an established gold producer that operates two fully licensed gold ore processing facilities in Peru. The Company has a combined allowable mining capacity of 450 tonnes per day at its two fully integrated mills, Chala One and Kori One, and has produced over 116,000 ounces of gold, generating over $165 million in sales through to its processing operations. Inca One is led by an experienced and knowledgeable management team that has made the company a trusted leader in serving licensed, small-scale and artisanal (ASM) miners in Peru. Peru is one of the largest gold producers in the world, and its ASM sector is estimated by government officials at billions of dollars annually. To learn more, visit www.incaone.com.

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

To view an improved version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2645/116748_1d2f7957b4b3da41_001full.jpg

On behalf of the Council,

Edward Kelly
President and CEO
Inca One Gold Corp.

For more information contact:

Constantin Tsakumis
[email protected]
604-568-4877

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

Statements about the Company that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forward-looking terms such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, and “continue”. or the negative thereof or similar variations. Because forward-looking statements address future events and conditions, they inherently involve risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuations in 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 these statements. Inca One believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that such expectations will prove to be correct and undue reliance should not be placed on any forward-looking statements included herein.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no 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 such state.

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