Mr. Edward Kelly reports

INCA ONE ANNOUNCES FINANCING AND AGM RESULTS

Inca One Gold Corp. has arranged a non-brokered private placement for gross proceeds of up to $1-million.

The private placement will consist of the issuance of 10 million units at a subscription price of 10 cents per unit. Each unit will comprise one common share of the company and one transferable common share purchase warrant. Each warrant will be exercisable to purchase an additional share of the company at an exercise price of 15 cents for a period of 36 months from the closing date.

The proceeds from the offering will be used for general working capital requirements. Insiders of the company will also subscribe for units under the private placement. All securities issued in connection with the private placement will be subject to a statutory hold period of four months and one day from the closing date, in accordance with applicable securities legislation. Finders' fees may be paid in connection with this offering. Closing of the private placement is subject to the approval of the TSX Venture Exchange.

The securities described herein have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, unless registered under the act or unless an exemption from registration is available.

Annual general meeting results

Additionally, all matters were approved at the company's annual general meeting of shareholders held on Dec. 14, 2023.

At the meeting, the company's shareholders re-elected all of the company's current directors, Bruce Bragagnolo, Edward Kelly, Rodney Stevens and Adrian Morger, as well as approved the reappointment of the company's current auditor, Grant Thornton LLP. The company's shareholders also approved the adoption of a 10-per-cent rolling long-term incentive plan.

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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