Inca One Resources Corp.

TSX VENTURE : IO


Inca One Resources Corp.

February 07, 2014 08:30 ET

Inca One Begins Construction to Double Capacity at Chala One Production Plant

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 7, 2014) - INCA ONE RESOURCES CORP. (TSX VENTURE:IO) ("Inca One" or the "Company") is pleased to announce the company has begun construction on a significant performance and capacity upgrade to its Chala One gold milling facility located in Chala, Peru. This upgrade will mark a 100% increase to the current 25TPD capacity and allows the company to process up to 50 TPD. Under the formalization process Chala One can be permitted to scale up to 350TPD.

Highlights of the upgrade include the following:

  • Plant capacity upgrade comes three months after first successful gold production announced on November 14, 2013.
  • Construction and plans are currently being undertaken on new ball mill and tailings pond impoundment.
  • An onsite metallurgical laboratory has been built and placed into operation, enabling various metallurgical tests and analyses to be performed on site, including moisture content, particle size analyses and reagent consumption. Samples of mill feed and product streams are analyzed by an independent third party laboratory in Chala for gold and other values.

Mr. Edward Kelly, President and CEO, stated: "We continue to make significant progress on the development and construction of Chala One. We anticipate this upgrade to be one of several upgrades moving forward with the goal of increasing efficiency and capacity to 100 TPD later this year. Also, with the construction of the metallurgical laboratory facility, we will greatly increase Chala One's ability to develop, test, scale-up and demonstrate extraction and processing methods for mill feed."

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.

Edward Kelly, President& CEO

NEITHER 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 NEWS RELEASE.

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 INHERENTRISKS AND UNCERTAINTIES SUCH AS THE RISK THAT THE CLOSING MAY NOT OCCUR FOR ANYREASON. 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 PARTIESTO 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 COMPANYDOES NOT INTEND TO UPDATE ANY CHANGES TO SUCH STATEMENTS.

THE TECHNICAL INFORMATION IN THIS NEWS RELEASE HAS BEEN REVIEWED ON BEHALF OF THE COMPANY BY PHU VAN BUI, A QUALIFIED PERSON UNDER NI 43-101.

INVESTORS SHOULD NOTE THAT NO RESOURCE HAS BEEN ESTABLISHED ON THE CORIZONA PROPERTY IN RESPECT OF WHICH THE BULK SAMPLING PROGRAM HAS BEEN INITIATED AND THE OBTAINING OF COMMERCIAL MINING PERMITS WITH RESPECT TO THE CORIZONA PROPERTY DOES NOT MEAN THAT THE PROPERTY CAN BE MINED COMMERCIALLY OR AT ALL.

Contact Information