Construction/Building — February 5, 2013Inca One Resources Corp.: Peruvian Government to Spend $68 Million USD in Infrastructure near Las Huaquillas Gold Project in Northern Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 5, 2013) - INCA ONE RESOURCES CORP. (TSX VENTURE:IO) -
- $68M USD infrastructure spend in Northern Peru has commenced
- Infrastructure upgrades benefit Las Huaquillas Gold Project
- Improving roads and major power grid.
Inca One Resources Corp. ("the Company" or "Inca One") announces that as part of Peruvian President Huamala's mandate for public investment, $68 million US dollars will be spent over the span of 2013-2015 on building and improving infrastructure in Northern Peru to rehabilitating roads from Chamaya-Jaen-San Ignacio-Rio Chinchipe near the Peruvian/Ecuador boarder. This is a major transformation of approx. 125 km of poorly build gravel/dirt roads to widened paved roads, and great news for both local residents and foreign operating mining operation.
Currently four international mining companies operate out of Northern Peru: Rio Tinto (La Granja), Newmont (Yanacocha), Anglo American (Michiquillay) and Goldfields (La Cima). Inca One Resources' Las Huaquillas Gold project will greatly benefit from large-scale investment and construction of modernized roads and power grid.
President Humala's won the National Peruvian election in 2011 based on the mandate for social inclusion, revitalizing the economy, and closing the income gap between the rich and poor. In the newest national poll by GFK Peru, President Humala's popularity increased by five points to 55 percent. He is most popular among the wealthy, with 66 percent, and in the jungle, with 67 percent. According to the poll, The President gets his strongest marks for social programs on behalf of the poor.
"This news about the government's major investment to build infrastructure is a testament of President Humala's fulfilling his campaign promise of social inclusion," commented Edward Kelly, President of Inca One. "We are very encouraged to see this commitment by the central government to further the economic development of Northern Peru."
Inca One announced on Tuesday January 28, 2013, that it has submitted a DIA to the Ministry of Energy and Mines for the Las Haquillas project in Northern Peru.
About Inca One:
Inca One Resources Corp. (TSX VENTURE:IO) is focused on acquiring and advancing properties in Peru with an option to acquire a 100% interest in the Las Huaquillas Gold project.
In 1998, Sulliden Resources estimated a geological resource on Las Huaquillas of 6.57 million tons grading 2.09 g/t Au and 25.2 g/t Ag (equivalent to 443,000 ounces of gold and 5.3 million ounces of silver)*. The historical estimate used a cut-off of 1.5 g/t gold and remains open at depth and along its 2.2 km strike.
* Note: The historic resource was calculated in 1998 and the Company has not completed the work necessary to have the historical estimate verified by a Qualified Person. The Company is not treating the estimate as a current NI 43-101 defined resource and the historical estimate should not be relied upon. The Project will require considerable future exploration which the Company intends to carry out in due course.
More information on the project and Inca one can be found on its web site at www.incaone.com.
On behalf of the Board,
INCA ONE RESOURCES CORP.
Edward Kelly, President& CEO
Statements in this press release 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 such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the inability of the parties to consummate the definitive letter agreement; (ii) fluctuation of mineral prices; (iii) a change in market conditions; (iv) the inability to produce the technical report for any reason whatsoever; and (v) the refusal of the Exchange to accept the proposed transaction for any reason whatsoever. Except as required by law, the Company does not intend to update any changes to such statements.
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