Mr. Edward Kelly reports

INCA ONE REPORTS US$13.2 MILLION SALES IN CALENDAR Q3 2023

Inca One Gold Corp. has released its consolidated sales (unaudited) and comparative operational results for the three-month period of July, August and September, 2023 (Q3 2023).

Sales revenue in the quarter was $13.2-million (U.S.), a 97-per-cent increase over the prior quarter ($6.7-million (U.S.)) and a 38-per-cent increase over the same quarter last year. Contributing to the increase was a higher number of exports in this three-month period and an increase in total ounces produced, despite a lower price of gold received over the quarter ($1,934.08 (U.S.) per ounce) versus the prior second quarter ($1,990.49 (U.S.)).

Deliveries of mineral-bearing feedstock to the plants reached 13,239 tonnes over the quarter, a 12-per-cent decrease from Q2 2023.

The company operated at 159 tonnes per day (tpd) over the three-month period, indicating approximately 291 tonnes of capacity available for increasing production.

"I am extremely pleased to see such a productive quarter with sales doubling over the prior three months," reflected Edward Kelly, president and chief executive officer of Inca One. "Our Peruvian team has operated very efficiently given the cash constraints facing us this year. We maintain discussions with prospective funding groups with a goal to secure a long-term funding arrangement that will help fill our excess capacity."

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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