Mr. Edward Kelly reports

INCA ONE ANNOUNCES CLOSING OF NON-BROKERED DEBENTURE FINANCING

Inca One Gold Corp. has closed the previously announced non-brokered debenture financing for gross proceeds of $500,000 (U.S.).

The debenture financing consists of 20 units with each unit comprising one non-convertible debenture in the principal amount of $25,000 (U.S.) and 25,000 non-transferable warrants. Each warrant is exercisable into one common share of the company at a price of 25 cents until a date that is 12 months from the closing date of the debenture financing. The holders of the debentures are entitled to receive interest at the rate of 14 per cent per annum, calculated and paid quarterly in arrears. The term of the debentures is 12 months with a 12-month extension at the option of the company.

A finder's fee of 5 per cent of the gross proceeds of the debenture financing is payable in cash by the company to certain finders. The debentures are secured by a security interest in certain of the company's present and after-acquired property to be registered in British Columbia.

The net proceeds from the debenture financing will be used to finance the purchase of capital additions such as a desorption plant, to retire certain higher-interest maturing debts and for general working capital purposes, as applicable.

We seek Safe Harbor.