Inca Pacific Resources Inc.

Inca Pacific Resources Inc.

April 24, 2008 10:20 ET

Inca Pacific Sets Terms for Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2008) -


Inca Pacific Resources Inc. (TSX VENTURE:IPR) is pleased to announce that it has set the terms for its proposed public offering of common shares of approximately C$25 million (the "Offering"). The common shares will be priced at $1.60 per common share.

The Offering syndicate is comprised of Raymond James Ltd., Haywood Securities Inc., and Wellington West Capital Markets Inc. The Offering is scheduled to close on or about May 8, 2008 and remains subject to certain conditions, including the receipt of all required regulatory and other acceptance, including the acceptance of the TSX Venture Exchange.

The net proceeds of the financing are intended to fund capital, project management, development and administrative costs related to Inca Pacific Resources Inc.'s 100%-owned Magistral copper-molybdenum project in Peru, as well as for general administration and working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Not for Distribution in the United States

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


Anthony Floyd, President and Director

Standard & Poor's Listed

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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