VANCOUVER, June 7, 2017 /CNW/ - INCA ONE GOLD
CORP. (TSXV: IO, Frankfurt: SU9.F, SSEV:
IOCL) ("Inca One" or the "Company") is
pleased to announce that mineral purchases in February, March and
April, 2017 increased more than 117% while mineral processing
increased 88% compared to the same three month period in 2016.
February, March and April are the height of the rainy season in
Peru. Typically flash-floods and landslides temporarily
disrupt mining activity, causing transportation delays and a sharp
drop in production. Particularly harsh torrential rains in
Peru this year made international
headlines, damaging the national economy. In light of the
state-of-emergency flooding in Peru over the three month period, the Company
still achieved an average throughput of 57 tonnes per day
("TPD") an increase of 88% over the same three month period
in 2016, while gold production at Inca One's Chala One Plant ("Chala One") reached
2290 oz, an increase of 91% from the comparable
February, March and April, 2016 period.
"Despite the unusual weather challenges, mineral buying and
production increased early in 2017," confirmed Inca One President
and CEO, Edward Kelly. "In fact we
reached all-time company highs for these months, compared with
rainy seasons in previous years."
The Company expects that mineral supply and gold production for
Chala One will accelerate as the rainy season has ended, resulting
in higher levels of production for the remaining months of
2017.
Private Placement
The Company will no longer be pursuing the Private Placement
announced on April 6, 2017.
About Inca One
Inca One is a Canadian-based mineral processing company. The
Company's activities consist of the production of gold and silver
from the processing of purchased minerals located in Peru. Peru is
the 6th largest producer of gold in the world and the Peruvian
government estimates the small scale mining sector accounts for a
significant portion of all Peruvian gold production, estimated to
be valued approximately US$3 billion
annually. The Company purchases its minerals from government
registered small-scale mining producers from various regions and
processes it at its Chala One milling facility located in Chala,
Southern Peru.
On behalf of the Board,
Edward Kelly,
President and CEO
INCA ONE GOLD CORP.
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.
SOURCE Inca One Gold Corp.