Inca Pacific Resources Inc.
TSX VENTURE : IPR

Inca Pacific Resources Inc.

June 29, 2009 09:00 ET

Inca Pacific Receives Environmental Approval for Magistral Mine From Government of Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2009) - Inca Pacific Resources Inc. (TSX VENTURE:IPR) announces that it has received formal approval of the Environmental and Social Impact Assessment ("ESIA") for the Magistral Copper-Molybdenum Project from the Peruvian Ministry of Mines and Energy ("MEM").

The initial ESIA document was submitted on March 28, 2008 and was followed by presentations to local communities together with a process of public consultation, commentary and response and interaction with several government agencies.

James R. Rothwell, President & CEO said, "Receipt of the ESIA is a very significant step forward in positioning Magistral for development. A great deal of excellent work has been done by our employees and consultants as well as the local communities and government staff to reach this point. We are very pleased that the major permitting requirement for the Magistral Project has been successfully completed."

Clara Garcia, Head of the Mining Environmental Bureau of MEM said, "It is very important for Peru that the Magistral Project moves forward. The approval of the ESIA is a big step in this sense, as it will help the development of one of the most interesting copper deposits with moly contents in Peru. The approval procedure has been long, but the best social and environmental conditions considered therein have been verified."

Magistral is located in northern Peru approximately 260 kilometers east of the city of Trujillo. The project involves development of a 20,000 tonnes per day open-pit mine and concentrator operation that will produce separate copper and molybdenum concentrates over a 15-year period. Please see Inca Pacific's technical report on the property for a detailed discussion of the project including critical assumptions, risks and sensitivities. The report is available on Inca Pacific's website and on SEDAR at www.sedar.com.

INCA PACIFIC RESOURCES INC.

James R. Rothwell, President and Chief Executive Officer

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