Inca One Reports Continued Strong Demand for Milling with Sales in May Reaching US$4.5 Million
Vancouver, June 14, 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, announces May production records and comparative year-over-year ("YoY") production results representing consolidated operations from both Chala One and Kori One milling facilities, collectively the ("Plants").
The Company reports its highest ever monthly sales in any prior month of May of approximately US$4.5M (unaudited), a 150% increase YoY as compared to May 2021 sales of US$1.8M. Accounting for this increase in sales was a higher volume of ore milled for the month. Notably, in the first 5 months of this year sales are US$26.0M, up 105% YoY over the comparable 2021 period (US$12.6M sales).
| Consolidated Operations | May 2022 | May 2021 | YoY change |
| Deliveries (tonnes) | 7,801 | 5,367 | 45% |
| Milling (tonnes) | 7,111 | 3,538 | 101% |
| Gold Production (ounces) | 2,512 | 2,219 | 13% |
| Sales (US$) | $4.5M | $1.8M | 150% |
Combined milling activites from both Plants increased 101% YoY reaching 7,111 tonnes and averaging 229 tonnes per day ("TPD") throughput for the month. This total represents just over 50% of our permitted capacity of 450 TPD at both Plants, indicating excess capacity available to scale production. Deliveries for the month also reached all time highs for any month of May increasing 45% 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)
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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
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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.
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