Inca One Reports Sales of US$8.3 Million in Calendar Q1 2021

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) -  INCA ONE GOLD CORP. (TSXV: INCA) (OTC Pink: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two, fully permitted, mineral processing facilities in Peru, reports (unaudited) consolidated gold and silver sales for the three months ending March 31, 2021 ("Q1 2021" or "the Quarter") from its Chala One Plant ("Chala One") and Kori One Plant ("Kori One"). All comparative year-over-year ("YoY") production numbers represent consolidated operations from both facilities.

Total revenue for calendar Q1 2021 was approximately US$8.3 million, as compared to US$7.7 million in Q1 2020. This represents an 8% increase YoY and Inca One's second highest calendar Q1 revenue to date. Given the strong first Quarter revenues, the Company is setting its sights on matching or exceeding its all-time annual sales record of US$35 million with its best production months ahead and continued strength in the price of gold.

"On the back of our very strong first quarter revenues, I am pleased with our encouraging April results," stated Inca One President and CEO, Edward Kelly. "We are looking forward to continued production growth over the next few months, fueled by increased ore purchases, made possible by our recently completed Gold Pre-payment Facility."

About Inca One

Inca One Gold Corp is a TSXV listed, gold producer operating two, fully permitted, gold mineral processing facilities in Peru. The Company has produced in excess of 92,000 ounces of gold, generating over US$125 million in revenue from its first 6 years of operations. Inca One, is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small-scale miners in Peru. Peru is the world's seventh-largest producer of gold and its small-scale mining sector is estimated by government officials to be valued in the billions of dollars annually. Inca One possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One. 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)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2645/83557_275169af94ecf8e7_001full.jpg

On behalf of the Board,

Edward Kelly
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
Inca One Gold Corp.
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, by their very nature, they involve inherent risks and uncertainties. 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 operational 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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