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File: IO- NR $1500000 CONV DEBT CLOSE $400K JUN 1.pdf

 INCA ONE CLOSES THIRD AND FINAL TRANCHE OF USD$1,500,000
                   CONVERTIBLE LOAN
VANCOUVER, BC � June 1, 2015 - INCA ONE GOLD CORP. (TSX-V:IO) ("Inca One" or
the "Company"), further to its press releases of March 20, 2015, April 27, 2015, and May 25,
2015 wishes to announce that it has closed the third and final tranche of the previously
announced convertible loan (the "Convertible Loan") for gross proceeds of USD$400,000 (the
"Third Tranche").

Each tranche of the Convertible Loan bears interest at a rate of 15% per annum, has a 12-month
term, is subject to a 12-month renewal option, subject to certain conditions, and is secured by a
priority pledge of the inventory and related assets of the Company's subsidiary, Chala One
S.A.C. ("Chala One").

In certain circumstances, up to 40% of the outstanding indebtedness under the Convertible Loan
will be convertible into common shares of Inca One ("Common Shares") at the option of the
Lenders at a conversion price of CAD$0.25. The conversion amount is based on a fixed foreign
exchange rate which will result in a maximum of 2,987,800 Common Shares issuable upon
conversion.

The Convertible Loan is with a syndicate of lenders lead by Promerita Financial Corp.
("Promerita"). The Company will pay an arrangement fee of 5% of the gross proceeds of the
Convertible Loan to Promerita for its role in arranging the Convertible Loan.

Concurrent with signing the Convertible Loan, the Company amended the security terms of its
CAD$5,500,000 bond financing announced May 20, 2014 (the "Bond Financing") whereby the
Bond Financing lenders released their priority security over the Chala One inventory assets for a
temporary 1% increase in the annual interest rate from 10% to 11%. The 1% interest rate
increase will be in effect until the Convertible Loan has been repaid in full.

The proceeds of the Convertible Loan will be used to finance mill feed inventory purchases at
the Company's Chala One plant in Peru, and for general working capital purposes.

About Inca One

Inca One is a Canadian-based mineral processing company with a gold milling facility in Peru,
servicing government-permitted small-scale miners. As part of the terms of the original purchase
agreement for the Chala, Peru processing facility, Inca One has an agreement between its wholly
owned subsidiary, Chala One SAC, and the seller and initial permit applicant, to operate under
the umbrella of formalization until the successful completion of all the environmental and
operating permits. Peru, a highly mineral-rich country, is one of the world's top producers of
gold, silver, copper and zinc, with substantial production coming from small scale miners who
                                            INCA ONE GOLD CORP.
                        1125 - 595 Howe Street, Vancouver, British Columbia, Canada V6C 2T5
                                      Tel: 1 604 568 4877Fax: 1 604 569 1604
                                                  ir@incaone.com
                                                 www.incaone.com
 need government permitted milling facilities to process their mineral (such as the Company's
Chala Plant).

On behalf of the Board,


Edward Kelly
President & CEO
INCA ONE GOLD CORP.


For More Information Contact:

Konstantine Tsakumis
Inca One Gold Corp.
Email: irincagold@incaone.com
Telephone: (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 the Company has limited operating
experience with its Chala plant and 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.

This news release deals only with the Company's Chala plant, which is an industrial project. This
presentation does not deal at all with the Company's sole mineral exploration property, the
Corizona property. Investors should note that no resource has been established on the Corizona
property and all of the material currently being processed at the Chala plant is received from
local small-scale mining operations.