Inca One Reports October Sales of US$2.7 Million
Vancouver, December 1, 2023 - 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 (unaudited) for October 2023 and comparative month over month ("MoM") operational results.
While milling and gold production remained almost identical MoM, total ounces sold was lower as compared to the prior month resulting in sales revenue in October of US$2.7 million from the sale of 1,371 ounces of gold, a 10% decrease from September 2023. The decrease was due to timing of exports and fewer ounces of gold sold along with a slightly lower gold price received (US$1,888.37 per ounce vs US$1,928.53 per ounce in September). The balance of ounces remain in the system and are due for export in the following month which is expected to positively impact sales in November.
| Consolidated Operations | October 2023 | September 2023 | MoM Change | |
| Sales (US$) | 2.7 M | 3.0 M | -10% | |
| Deliveries (tonnes) | 5,766 | 3,929 | 47% | |
| Milling (tonnes) | 4,647 | 4,614 | 1% | |
| Gold Production (ounces) | 1,919 | 1,907 | 1% | |
Deliveries in October reached 5,766 tonnes, a 47% increase over the prior month of September. Inca One Plants have seen a significant increase in supplied tonnage for processing as the Company is entering a seasonal busy period of mining activity.
Inca One continues discussions with institutions for a suitable, non-dilutive finance arrangement that will fulfill the Company's ore buying requirements and fill the excess capacity at its Plants.
About Inca One
Inca One Gold Corp. is an established gold producer operating two fully permitted, gold mineral processing facilities in Peru. The Company possesses a combined 450 TPD permitted operating capacity at its two fully integrated plants, Chala One and Kori One and has produced more than 130,000 ounces of gold, generating over US$200 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, artisanal and small-scale 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
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.
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