Mr. Edward Kelly reports

INCA ONE GOLD REPORTS INCREASE IN SUPPLY IN APRIL

Inca One Gold Corp. has released consolidated sales (unaudited) for April, 2023, and comparative month-over-month operational results.

Deliveries to Inca One Plants increased by 31 per cent as transportation of gold feedstock picked up again as management previously referenced. This was a result of transport corridors re-opening following previous social unrest in some areas of the country and the end of the annual rainy season.

Milling activity also increased slightly as Inca One operated at 121 tonnes per day of throughput. Gold production in April also decreased by 6 per cent, reaching 1,499 ounces for the month.

Sales revenue in April reached $1.4-million (U.S.), from the sale of 675 ounces of gold, a 59-per-cent decrease over the prior month of March, 2023. The decrease, as compared with the prior month of March, was due to the timing of exports, which caused a lower volume of ounces sold, despite a higher gold price.

With a return to normal in-country transportation, ore supply to Inca One plants continued to increase in the early days of May and the company's outlook on future growth in raw material supply for processing remains positive.

About Inca One Gold Corp.

Inca One Gold is an established gold producer operating two fully permitted, gold mineral processing facilities in Peru. The company possesses a combined 450 tonne-per-day 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 $200-million (U.S.) 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.

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