Mr. Edward Kelly reports

INCA ONE REPORTS JANUARY SALES OF US$4.6 MILLION

Inca One Gold Corp. has released its sales (unaudited) for January, 2024, and comparative year-over-year (YoY) operational results.

Sales revenue for Inca One reached $4.6-million (U.S.) in January, 2024, a 32-per-cent increase over January, 2023, and a 56-per-cent increase over the prior month of December, 2023, marking the company's best January monthly sales. The increases were the result of higher volume of gold ounces produced and sold, combined with an additional export in January, sold at a higher price per ounce of gold ($2,049 (U.S.) as compared with $1,909 (U.S.) in January, 2023). The political turmoil that hindered mineral transportation across the country from December, 2022, into the first quarter of 2023 also contributed to the year-over-year increases.

Notably, gold production in January reached an all-time high for any prior month of January.

Deliveries and milling activity also improved YoY as the company realized increases of 111 per cent and 120 per cent, respectively, with the plants milling at an average of 213 tonnes per day (tpd) in January, 2024. With the seasonal rainy period expected in the weeks ahead, the company may experience occasional but temporary impacts to its supply of gold ore feedstock.

The company continues to look for the required working capital to purchase the gold ore feedstock necessary for the plants to operate at full permitted capacity of 450 tpd.

Marketing services engagement

Inca One also is pleased to announce it has engaged X-EC Digital Ltd. (XEC) to provide content creation, and digital and video marketing services to the company.

XEC is a Vancouver-based digital marketing agency that specializes in digital marketing services for public-companies. XEC is focused on the preparation and distribution of social media content, chief executive officer interviews, e-mail marketing and other digital marketing services.

Under the terms of the engagement, XEC has been retained for a fee of $1,667 plus GST (goods and services tax) per month over an initial six-month term commencing March 1, 2024. The company has the option to renew the engagement for an additional six months. No common shares or common share purchase options will be issued under the engagement.

The engagement remains subject to TSX Venture Exchange approval.

About Inca One Gold Corp.

Inca One is an established gold producer operating two 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, 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 gold miners (ASGM). Peru is one of the world's largest producers of gold, and its ASGM sector is estimated by government officials to be valued in the billions of dollars annually. Through the company's partnerships with the United Nations backed PlanetGold Program and the Swiss Better Gold Initiative, Inca One supports the sustainable development and mining practices of the ASGM sector and the responsible gold supply chain from mine to market.

We seek Safe Harbor.