Inca One Gold Corp.
TSX.V: IO
Corporate Presentation
Disclaimer
This presentation includes forward-looking statements which are not historical facts but instead address future events and conditions which by their
very nature, involve inherent risks and uncertainties. Such information can generally be identified by the use of forward-looking wording such as “may”,
“expect”, “estimate”, “anticipate”, “intend”, “believe” “potential” and “continue” or the negative thereof or similar variations.
Forward-looking information in this presentation includes, but is not limited to, intended acquisitions, upgrades and production at milling facilities,
financing plans, use of proceeds and estimated net income. 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 and exchange rates; (ii) change in market conditions; (III) the fact that the Company’s
development and factors affecting it may be very different from other companies; (iv) availability and quality of mill feed; (v) regulatory and political
developments and (vi) the Company has limited operating experience with its Chala Plant mill and future operational results may not be accurately
predicted based on this limited test milling information to date.
Forward-looking statements and other information contained herein concerning the metals and mining industry and Inca One’s general expectations
concerning the industry are based on estimates prepared by management using data from publicly available industry sources as well as from private
sources, industry analysis and on assumptions based on data and knowledge of the this industry which the Company believes to be reasonable.
However, this data is inherently imprecise. While Inca One is not aware of any misstatements regarding any industry data presented herein, the
industry involves risks and uncertainties and is subject to change based on various factors. There is no certainty the projections will be met.
Our forward-looking information is based on the beliefs, expectations and opinions of management on the date the statements are made and we do not
assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required
by applicable law. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements
including, but not limited to, changes in general economic, political and market conditions and other risk factors. Although the forward-looking
statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual
results will be consistent with these forward-looking statements. Investors should not place under reliance on these forward-looking statements.
Future-Oriented Financial Information
In addition this presentation contains future-oriented financial information (“FOFI”). The purpose of the FOFI is to provide prospective investors with
information pertaining to the Company’s longer term objectives. Readers should be cautioned that information may not be appropriate for other
purposes.
Currency
Unless otherwise indicated, all dollar values herein are in Canadian dollars.
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Small Scale Mining Sector
Peru’s artisanal and small scale gold mining industry is a major business sector of Peru, began
formalization in June 2012, and contributes significantly to its economy. Key facts include:

It is estimated there is approximately 15,000 TPD of gold-bearing mineral produced
by small scale miners, based on an average recoverable gold grade of 0.5 oz/tonne.

Inca One estimates that there is an average of 5,000 TPD of legal mineral feed
available from small scale miners in Peru.

Peruvian government estimates the small scale mining sector at 20% of all
Peruvian gold production equivalent to US $2.6B

Sector employs a direct workforce of 100,000 workers, with some estimates up to
2
500,000 more indirectly involved.

Approximately 73,000 mines applied for formalization with many thousands still not
formalized.

Gold ore processing plants in Chala produced 315,000 ounces (approximately 9
4
tonnes) of gold annually in 2014 .

Peru is South America’s largest source of high grade, narrow vein mining - ideal for
small scale mining.
1
3
1.
2.
3.
4.
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Reported to Peruvian newspaper La Republica (August 2013 report from news portal Peru This Week).
The Global Initiative (April 2016 report on mining in Latin America).
April 10, 2014 report from news portal Peru This Week.
Sourced from Peru’s Ministry of Energy and Mines (MINEM) figures.
Location
Trujillo
Chala One SAC
The Plant is located in the Arequipa
region of Peru at kilometer 620 of the
PanAmerican Highway, 3 kilometers
northeast of the coastal town of Chala.
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Puno
Arequipa
Mineral Processing Business
 Miner delivers mineral to our Chala One plant.
 We conduct careful, systematic testing prior to mineral purchase to determine
grade and recovery.
 Mineral is acquired, we take possession, and hedging occurs (we lock in
purchase price).
 Inventories turnover every 20 to 30 days and revenues are achieved quickly.
 Loaded carbon is harvested from tanks and gold/silver concentrate is desorbed
from the loaded carbon.
 Concentrate is smelted into gold dore and sold/exported to Switzerland.
Chala One SAC Plant East view.
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Plant Layout and Facilities
Desorption Plant
Reagent Storage
Warehouse
Chemical Lab
Recycled Water
Tailings Ponds
Camp Area
Scale
Stockpiles
Met Lab
Ramp
Ball Mills
Plant Entrance
Leaching Tanks
Plant Roadway
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2015 Milestones
 Constructed processing plant with operating capacity up to 140TPD.
 Attained key environmental and operating permits for 100TPD capacity, noting
may operate at 50% over-capacity to a maximum of 150TPD. Ability to expand
location to 350TPD with additional permits.
 In 2015 processed over 19,200 tonnes of mineral at an average grade of 0.74 oz.
per tonne.
 In 2015 produced 13,097 oz. of gold, and realized gold sales of approximately
US$15.4M.
 Increased and stabilized our
net revenue margin (“NRM”)
key metric (see slide 12).
 Implemented gold hedging to
lock in purchase margins.
 Hired a very experienced and
trustworthy Peruvian team
(ex-Barrick, ex-Newmont, etal.).
Chala One SAC stockpiled ore bearing material waiting for processing.
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2016 Milestones
 Graduated to the SUNAT large tax group.
 Received first VAT/IGV refund and attained monthly reporting and
refund status.
 Right-sized the company to operate more efficiently with lower costs.
 Restructured our balance sheet (preliminarily).
 Attained additional key permits.
Chala One SAC Plant west view.
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Mineral Supply
The Peruvian government estimates that approximately USD$3.0 billion of gold is exported
annually from small scale, formal, and informal mining sources. Based on an estimated small
scale average grade of 0.5 oz/tonne, this would be approximately 15,000 TPD of annual
supply.
Of this amount we estimate from that there is approximately 5,000 TPD of legal mineral feed
available. To accomplish a steady 100 TPD operations Inca One only requires a 2% market
penetration.
 Amount of mineral Inca One would like to purchase at market: 150 TPD.
 Total market penetration required for 150 TPD is 3%.
Photo of clients delivering ore bearing material to Chala One SAC Plant.
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Top Areas of Mineral Supply
Region
Number of
Mines *
1. Arequipa
14,859
2. Ayacucho
9,015
3. Puno
6,920
4. Apurimac
7,269
5. La Libertad
5,298
6. Piura
2,123

Chart above is a summary of “compromiso’s” or special
permits issued by region to continue mining activities.

The small scale mining Industry has been in existence for
centuries.

Toll processing is an ESSENTIAL service to thousands of
miners who require compliant processing.

IO is primarily focused on procuring mill feed from two of the
top five major mineral centers.
* Internal Numbers Provided by Ministry of Energy and Mines of Peru
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LIMA
CHALA
Peru Formalization
PRE FORMALIZATION
POST FORMALIZATION
REGULATION
-Low regulation and informality means low barriers to entry
-Minimal tax compliance
-Heavy mercury usage mean environmental devastation
-Low restrictions on plant locations
-High degree of illegal mining
-High regulation and formality means higher barriers to entry
-Mandatory tax compliance
-Significant reductions in mercury means less environmental damage
-Efforts to centralize processing plants (i.e. Chala)
-Reduced illegal mining activities
FINANCIAL
-Small, widely dispersed plants means low capital needs
-Low competition for mineral means lower payouts to miners
-Plant owners are families with limited capital
-Use of unskilled labour and primitive extraction techniques
-No capital tax burden
-Large, centrally located plant means high capital needs
-Higher competition for mineral means quicker payouts
-Plants owners are corporations with sophisticated financing methods
-Highly trained professionals using modern extraction technology
-18% IGV on all mineral purchases means more financing required
SOCIETY
-High degree of criminal participation
-Child and slave labour common practice
-Small plants have limited means for benefits
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-Less illegal mining means less criminal involvement
-Better pay for miners means lower need for low priced labour
-Larger corporations provide welfare net to employees
Revenue Forecast Models
Scenario: 0.75 oz/tonne, 35% NRM, US$1250 gold price
Production Capacity
Operating revenue
Operating cost
Operating margin
G&A expense
EBITDA
ANNUAL GOLD PRODUCTION
100 tonnes per day
150 tonnes per day
300 tonnes per day
34,200,000
51.300,000
102,600,000
(27,800,000)
(40,400,000)
(80,800,000)
6,400,000
10,900,000
21,800,000
(2,300,000)
(2,800,000)
(3,500,000)
4,100,000
8,100,000
18,300,000
27,400
41,100
81,200
Scenario: 0.9 oz/tonne, 35% NRM, US$1250 gold price
Production Capacity @
Operating revenue
Operating cost
Operating margin
G&A expense
EBITDA
ANNUAL GOLD PRODUCTION
100 tonnes per day
150 tonnes per day
300 tonnes per day
41,100,000
61,600,000
123,200,000
(32,600,000)
(47,600,000)
(95,200,000)
8,500,000
14,000,000
28,000,000
(2,300,000)
(2,800,000)
(3,500,000)
6,200,000
11,200,000
24,500,000
32,800
49,300
98,600
Prepared for presentation purposes and are approximations not to be used for investing purposes.
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Share Structure
Share Structure
Issued and Outstanding
(Post Consolidation, Financing and Restructuring)
As of Sept. 9, 2016
45.0 M
Warrants
1.1 M
Options
0.9 M
Fully Diluted
47 M
Market Cap
$11 M
52 week trading range
Ownership - Management/Directors
- Funds/Institutions
$0.21-1.05
21%
4%
* Chart reflective of August 19, 2016
restructuring of the company’s
common shares consolidating on the
basis of 7 old shares to 1 new share.
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Key People
Management
Directors
Experience
Edward Kelly, BBA
President, CEO and Director
Edward Kelly
Entrepreneur, 20+ years
managerial experience
Oliver Foeste,
CPA, CA
CFO and Director
Oliver Foeste
Managing Partner Invictus
Accounting Group LLP
Rafael Rossi, CPA,
MBA
General Manager, Peru
Bruce Bragagnolo
Co-Founder and Former CEO
Timmins Gold Corp, and
Silvermex Resources Ltd
Mark St.John
Wright, B.Sc., MBA
VP Operations and New
Projects
Brian Antenbring
CEO of TEEMA Solutions
Group Inc
Phu Van Bui
P.Geo, Company QP,
President, Director Arc
Geoscience Group
Advisors
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Position
Experience
George Moen
Co-Founder Rapid Time
Networks, Former President of
Blenz Coffee
George S. Young
Director Lion One Metals
Jaime Polar, P.
Eng., MBA
Formerly Operations GM with
Barrick at Pierrina
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Summary
Features of the restructured and re-financed Inca One:
 A negotiated balance sheet restructuring with key debtholders.
 Closed first tranche of $3.25 million in gross proceeds of previously announced
$4.0 million non brokered private placement.
 Pursuing second and final tranche of private placement to ramp production back
up to a minimum 100 TPD capacity.
 Expect to be operating at 100 TPD within 90 days of finance close.
 Have enacted cost cutting and right-sizing measures to improve bottom line.
 Net Revenue Margins averaging 40% over the last 26 operating weeks.
 Project positive future cash flows from ramped up operations.
 Poised for growth with permitting, people, systems, and IGV refunds in place.
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Appendices
A. Laboratory
B. Desorption plant
C. Security at plant
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Appendix A - Laboratory
Photos of chemical laboratory
(top left), laboratory
technician (top right) and
employee conducting gold
assays (bottom), Chala One
SAC Plant .
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Appendix B - Desorption Plant
Various photos of
desorption plant
and workers from
delivery of loaded
carbon and bagging
concentrate, Chala
One SAC Plant.
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Appendix C - Security at Plant
Armed Security at
different locations
and CCTV
overviewing various
processes and
storage facilities at
Chala One SAC
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Contact Information
www.incaone.com
Head Office
Suite 1915 – 1030 West Georgia St.
Vancouver, BC V6E 2Y3
604-568-4877
Peru Office
Calle los tulipanes N°147
Office 503
Urbanización Lima, Polo Hunt
Surco, Lima 33 - Perú
(+51) 1 717-4388 / 4387
Investor Relations
Konstantine Tsakumis
604-568-4877
[email protected]