Vancouver, British Columbia--(Newsfile Corp. - September 21, 2021) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer, operating two fully permitted mineral processing facilities in Peru, is pleased to report it has achieved record production this past month of August 2021.

Following record processing months in both May and July, Inca One had its best-ever month of August in the Company's history for each of ore deliveries, processing and daily throughput.

The Company received its highest ever deliveries totaling 6,982 tonnes of gold-bearing material, surpassing its prior record of 6,111 tonnes. This represents a 14% increase over the previous high and a 75% increase over July 2021 deliveries. Additionally, the Company processed 6,838 tonnes of material in surpassing its prior record of 6,581 tonnes. Both plants processed a combined 221 tonnes per day ("tpd") in August 2021. This represents a 4% increase from the prior highest months daily average output of 212 tpd and a 97% increase over last month's processing. Fueling these records was the high volume of mineral supplies to both processing facilities.

Operations (trailing 6 months)

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"We are excited to see the continuing and increasing volumes of high-quality mineral being sourced and delivered to both plants, which led directly to our record deliveries, processing and best-ever August gold production," stated Edward Kelly, President and CEO of Inca One. "It validates our business model and operational aptitude that we were able to so quickly and effectively deploy the working capital received from our second Gold Prepayment Facility received in the first week of August from OCIM Precious Metals (August 9, 2021, press release). The Company, now armed with sufficient working capital, its only 10% off its record processing pace set in 2018 and has a goal of achieving a new production record for calendar 2021, as we come into the traditionally busier final few months of the year."

Gold production this past August was 2,309 ounces and is the Company's highest gold production since March 2020 (2,315 ounces). August was the highest August production in the Company's history and one of the Company's best-ever production months. This represents a 90% increase over the prior month's production in July 2021 (1,218 ounces).

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 more than 92,000 ounces of gold, generating over US$125 million in revenue from its first six 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 of 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)

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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 operating 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. Still, 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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