Inca One Reports November Sales of US$4.6 Million
Vancouver, December 21, 2023 - Inca One Gold Corp. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two mineral processing facilities in Peru, (the "Plants") reports consolidated sales (unaudited) for November 2023 and comparative month over month ("MoM") operational results.
Sales revenue in November reached US$4.6 million from the sale of 2,251 ounces of gold Dore, a 70% increase over the prior month of October. The increase was primarily driven by an increase in the number of exports, an increase in ounces sold and a slightly higher gold price (US$1,978 per ounce).
Additionally, the Company has realized year over year increases in operations, with deliveries up 66%, milling up 27% and gold production up 49% as compared to last November 2022.
| Consolidated Operations | November 2023 | October 2023 | MoM change |
| Sales (US) | $4.6 M | $2.7 M | 70% |
| Deliveries (tonnes) | 7,000 | 5,766 | 21% |
| Milling (tonnes) | 4,919 | 4,647 | 6% |
| Gold Production (ounces) | 1,888 | 1,919 | -2% |
Deliveries in November reached their highest level (7,000 tonnes) since May 2022, representing a 21% increase over the prior month and deliveries in the first two weeks of December continue to be robust. As previously reported, Inca One is seeing evidence of increased seasonal mining activity among its artisanal and small-scale mining partners, which is expected to translate into increased milling activity in the coming weeks.
Total tonnes milled in November climbed 6% as the company operated at 164 tonnes per day ("TPD") while gold production was slightly lower on a MoM basis.
About Inca One
Inca One Gold Corp. is an established gold producer operating two permitted, gold mineral processing facilities in Peru. The Company possesses a combined 450 TPD permitted operating capacity at its two fully integrated plants, Chala One and Kori One, generating over US$200 million in sales from its processing operations. Inca One is led by an experienced and capable management team that has established the Company as a trusted leader in servicing permitted, Artisanal and Small-scale Gold Miners (ASGM). Peru is one of the world's largest producers of gold, and its ASGM sector is estimated by government officials to be valued in the billions of dollars annually. Through the Company's partnerships with the UN backed PlanetGold Program and the Swiss Better Gold Initiative, Inca One supports the sustainable development and mining practises of the ASGM sector and the responsible gold supply chain from mine to market. To learn more, visit www.incaone.com.
Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)
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On behalf of the Board,
Edward Kelly
President and CEO
Inca One Gold Corp.
For More Information Contact:
Konstantine Tsakumis
ktsakumis@incaone.com
604-568-4877
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 NEWS RELEASE.
Statements 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, they involve inherent risks and uncertainties by their very nature. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operating results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.
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 these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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