Inca One Initiates the Termination of its Las Huaquillas Project
Vancouver, B.C., December 30, 2013– INCA ONE RESOURCES CORP. (TSX‐V: IO) (“Inca One” or the “Company”) wishes to provide an update on its Las Huaquillas Project (“the Project”) in northern Peru.
Due to the Company’s successful shift to becoming a primary toll milling company in Peru and in view of the required capital to maintain the option and related exploration expenditures on the Las Huaquillas Project, management has initiated the process to terminate the Las Huaquillas option agreement.
The Company will continue to hold the permits or Environmental Impact Statement ("DIA"), allowing for a drilling program to be conducted with respect to the Project and evaluate potential opportunities to monetize the permits.
Edward Kelly, President and CEO states “If we want to lower risk and maximize leverage for our shareholders, we must concentrate our efforts in expanding our toll milling business. We consider the Las Huaquillas Project to be very prospective. However, we had to recognize the difficulties of progressing the Project and we shifted focus to the toll milling business. We believe that concentrating all of our resources on the cash flow producing toll milling business is the prudent decision for Inca One.”
About Inca One Resources Corp
Inca One is a Canadian-based mineral resource company with a newly acquired gold milling facility & exploration assets in Peru, which was home to the Inca Empire. Peru is currently the largest gold producer in South America, hosting mines which have produced up to 26 million ounces of gold. A highly mineral-rich country, Peru is one of the world’s top producers of gold, silver, copper and zinc.
On behalf of the Board,
INCA ONE RESOURCES CORP.
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