Inca One Holds Public Participation Workshop
Vancouver B.C., July 12, 2012 – INCA ONE RESOURCES CORP. (TSX-V: IO) (“ “Inca One”) would like to announce receipt from Minera Huaquillas that it has held its first Public Participation Workshop (“Workshop”) on July 8th, 2012 in San Ignacio, in the Cajamarca department of northern Peru. Minutes of a completed Workshop must be included in Inca One’s application for a 20-platform drill permit from Peru’s Ministry of Energy and Mines (“Ministry”). The permit is a requirement in the Ministry’s approval process for mining projects, and must be in place before Inca One can commence an exploration program on its Las Huaquillas Gold-Copper project (“Project”).
Inca One’s CEO Edward Kelly commented: “We are very pleased with the extensive community participation in this Workshop. It represents another milestone in the process required to obtain our drill permit. We have been working extremely hard to form effective community partnerships. The local citizens and officials who were in attendance gave us a strong message of their support and interest in our comprehensive environmental plan.”
The Workshop was convened to present Inca One’s Environmental Impact Statement or Declaracion de Impacto Ambiental (“DIA”). This open forum was organized by Inca One’s community outreach staff in Peru for approximately 100 participants which included farmers, local residents, representatives and stakeholders from San Ignacio’s neighbouring communities including municipal authorities, regional officers and representatives from the Regional Directorate of Mining (DREM Cajamarca).
CEO Edward Kelly added: “We are moving forward in our plan to develop the Las Huaquillas Project. We are working to complete the formal requirements related to the Workshop which was interrupted. We have yet to receive minutes of the Workshop signed by a local official: the Director Regional de Energía, Minas. If these are not forthcoming, this could require an additional meeting to complete the formal requirements. We have established an effective community outreach program and are confident the Project will also provide sustainable benefits to the region and its residents.”
About Inca One:
Inca One Resources Corp. is a publicly listed (TSX-V:IO) mineral resource company focused on acquiring and advancing properties in the South American country of Peru.
Led by successful entrepreneur Edward Kelly, the team has built multiple successful business ventures in a number of different business sectors. The Company has the option to acquire a 100% interest in the Las Huaquillas Gold-Copper project in Peru.
Previous exploration on the Project was executed by Cooperacion Minero Peruano - Alemana (1988-1992) and Sulliden Gold Corporation Ltd. (TSX: SUE, “Sulliden”) (1996 - 1999). The exploration consisted of surface geological, geochemical, and geophysical studies, 26 drill holes and 1200 meters of underground workings.
In 1998, Sulliden estimated a 500 meter section of the 2.2 km long Los Socavones Zone hosted an estimated geological resource of 6.57 million tonnes grading 2.09 g/t Au and 25.2 g/t Ag (equivalent to 443,000 ounces of gold and 5.3 million ounces of silver). The resource estimate is based on historical findings and is not NI 43-101 compliant.
The historical estimate used a cut-off of 1.5 g/t gold and remains open at depth and along strike. The historical resource estimate was based on data retrieved from 10 drill holes and 20 mineralized intercepts to a depth of 200 meters.
Note: The historic resource was calculated in 1998 and the Company has not completed the work necessary to have the historical estimate verified by a Qualified Person. The Company is not treating the estimate as a current NI 43-101 defined resource and the historical estimate should not be relied upon. The Project will require considerable future exploration which the Company intends to carry out in due course.
More information on the project and Inca one can be found on its web site at www.incaone.com.
On behalf of the Board,
INCA ONE RESOURCES CORP.
President & CEO
For more information, contact the company at: Telephone: (604) 669-9788
Facsimile: (604) 669-9768
Statements in this press release regarding the Company which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the inability of the parties to consummate the definitive letter agreement; (ii) fluctuation of mineral prices; (iii) a change in market conditions; (iv) the inability to produce the technical report for any reason whatsoever; and (v) the refusal of the Exchange to accept the proposed transaction for any reason whatsoever. Except as required by law, the Company does not intend to update any changes to such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.