Inca One Receives Court Approval of Claims Process

Vancouver, British Columbia--(Newsfile Corp. - August 27, 2024) - Inca One Gold Corp. (TSXV: INCA.H) (OTC Pink: INCAF) (FSE: SU92) (the "Company") announced today that, on application by the Company, the Supreme Court of British Columbia has approved a Claims Process Order (the "Order) as part of the Company's ongoing Companies' Creditors Arrangement Act ("CCAA") proceedings. The Order provides for a "Claims Process" pursuant to which the court-appointed Monitor, FTI Consulting Canada Inc. (the "Monitor") and the Company will call for and adjudicate, as necessary, all claims against the Company.

Known creditors with respect to whom the Company and the Monitor have sufficient information to make a reasonable assessment of their claim will be sent a "Claims Notice" setting out the amount and status of their claim. Creditors who receive a Claims Notice do not need to take any further action if they do not wish to dispute the amount or status of their claim as set out in the Claims Notice.

Creditors who receive a Claims Notice but wish to dispute the amount and status of their claim must submit a "Proof of Claim Form" to the Monitor.

All other creditors who wish to assert a claim must submit a "Proof of Claim Form" to assert a claim against the Company or a "Director/ Officer Claim Form" to assert a claim against the Company's directors and officers.

Copies of all Claims Process forms will be available on the Monitor's website at http://cfcanada.fticonsulting.com/incaone/ (the "Monitor's Website").

With the exception of "Restructuring Claims," all Proof of Claim Forms and Director/Officer Claim Forms must be received by the Monitor by no later than 4:00 p.m. (PST) on the "Claims Bar Date" of September 16, 2024. All Proof of Claim Forms with respect to Restructuring Claims must be received by the "Restructuring Claims Bar Date," which is the later of: (a) the Claims Bar Date; and (b) 4:00 p.m. on the day that is seven calendar days after the date that an applicable Notice of Disclaimer or Resiliation is sent to a creditor. Any claims not received by the Claims Bar Date or the Restructuring Claims Bar Date, as applicable, will be forever barred and extinguished.

All claims submitted to the Monitor will be subject to the Claims Process as set out in the Order.

All inquiries regarding Claims Process and Inca One's CCAA proceedings should be directed to the Monitor (email: [email protected] or telephone: +1-877-294-8998).

Information about the Company's CCAA proceedings, including all court orders, are available on the Monitor's Website.

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 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 practices 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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