Inca One Gold Reports Full Production During the 2nd Quarter

VANCOUVER, July 11, 2018 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") is pleased to announce that gold production at its wholly owned Chala One Plant ("Chala One") in June 2018 reached 1,541 ounces. Throughput at Chala One averaged 115 tonnes per day ("TPD") in June 2018, up from 70 TPD year-over-year and up from 110 TPD from the prior month of May 2018. 

Gold-bearing material supplied at Chala One continued to be robust as deliveries reached 2,871 tonnes over this month, an increase of 51% year-over-year (1,906 tonnes) and an increase of 25% over the prior month of May 2018 (2,300 tonnes). 

Quarterly Results
It is important to indicate Inca One surpassed its quarterly production target for the most recent quarter ending June 30, 2018, for the first time. Production over the three months of April, May, and June 2018 ("Q2-2018" or "the Quarter") reached 9,400 tonnes, an increase of 75% over the same three-month period in 2017 (5,367 tonnes) and an increase of 40% from the prior three-month period of January, February and March 2018 (6,697 tonnes).

During Q2-2018, throughput at Chala One averaged 103 TPD, an increase from 59 TPD year-over-year and an increase from 74 TPD from the prior three-month period of January, February and March 2018. 

Gold produced during the Quarter reached 4,297 ounces, an increase of 71% year-over-year and an increase of 49% quarter-over-quarter.  Average monthly gold production reached approximately 1,430 ounces during the Quarter, as compared to 835 ounces in the comparable quarter in 2017.

Inca One President and CEO, Edward Kelly stated, "We are extremely pleased with this milestone of an average of over 100 TPD these past three months. Our entire team is to be commended for surpassing our target and achieving this record production for the Quarter.  We enter the next three- month period with a goal of sustaining the throughput rate at an average of 100 TPD, with a focus on increasing the average gold grade processed."

About Inca One

Inca One is a Canadian-based mineral processing company. The Company's activities consist of the production of gold and silver from the processing of purchased minerals located in Peru. Peru is the 6th largest producer of gold in the world and the Peruvian government estimates the small-scale mining sector accounts for a significant portion of all Peruvian gold production, estimated to be valued approximately US$3 billion annually. The Company purchases its minerals from government registered small-scale mining producers from various regions and processes it at its Chala One milling facility located in Chala, Southern Peru.

On behalf of the Board,

Edward Kelly,
President and CEO
INCA ONE GOLD CORP.

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, by their very nature, they involve inherent risks and uncertainties.  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 operational 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.

SOURCE Inca One Gold Corp.