Inca One Resources Corp.

May 14, 2013 08:30 ET

Inca One Resources Corp.: Community Agreement Signed for Surface Rights at Corizona Gold Project

- 5 Year Community Agreement Signed for Surface Rights at Corizona

- Commercial Mining Permitting process on Corizona well underway

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2013) - INCA ONE RESOURCES CORP. (TSX VENTURE:IO) (the "Company" or "Inca One") is pleased to announce that its operating partner at the Corizona Gold Project in Lima - Peru, Canadian Mining SA, is rapidly progressing the application for commercial mining permits at the Corizona Gold Project.

On April 28th, 2013, Canadian Mining SA held a Community Assembly and successfully obtained the consent for the use of the surface land for a five-year (5) term from the Community of Llambilla. The Company is extremely pleased with the agreement, as it is integral in the process of obtaining commercial mining permits.

Rural communities in Peru are organizations recognized by Peruvian law, comprising of families living on and owning certain territories, linked by ancestral, social, economic and cultural bonds. The Community of Lambilla is the legal owner of the surface land where the Corizona Gold Project is located; therefore it was extremely important this authorization was obtained and supported by the local community.

The in country team conducted a thorough fieldwork study in order to identify the requirements and needs of the community. With this information Canadian Mining SA tailored a proposal, which fulfilled the communities' expectations and is economically viable for the project. The Company believes this agreement will be the basis for continued good relations between Canadian Mining SA and the Community of Lambilla.

Commercial Permitting Update

Canadian Mining started the process of obtaining commercial mining permits on Corizona in order to formalize the current mining that was being undertaken on the Property by informal miners. The process requires the completion of the following steps:

  1. Submitting the Statement of Commitment to the Regional Direction of Mines. (DREM)
    Status: Completed
  1. Certifying the ownership of the mining concession, or proving the registration of a contract of assignment / transfer of the mining concession and registration.
    Status: Completed
  1. Authorization for use of the surface land:
    The minutes that were obtained from the Assembly will be transferred into a public deed that will authorize Canadian Mining to register the agreement in SUNARP.
    Status: Agreement signed - registration in process
  1. Submitting the Corrective Environmental Management Instrument (IGAC)
    Status: Submitted
  1. Obtaining the authorization for the use of water, issued by the local authority of the water
    Status: Pending
  1. Obtaining a certificate of approval of start/restart of mining activities issued by the DGM (General Direction of Mining from the Ministry of Energy and Mines)
    Status: Pending

Edward Kelly, President& CEO of Inca One commented: "Once again, we are very pleased with our Peruvian in-country team as they continue to achieve major milestones in a timely fashion. Being able to rapidly obtain commercial mining permits is a key part of executing our business model of consolidating near term cash flowing assets."

More information on the Company and its projects can be found at

On behalf of the Board,


Edward Kelly, President& CEO

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.

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.

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.

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