Ann: 2.9% Copper with Strong Geophysics in New IOCG Project, page-11

Talk about steak knives... this is yet another incredible find which adds 2 more to the impressive list!

• Riqueza (Peru) epithermal/porphyry target 5kms across
• MaCauley Creek (QLD) – porphyry target 13kms across
• Frewena Fable (the NT) – IOCG target 5kms across
• Lorna May (the NT) – IOCG target 7kms across

• Jean Elson (NT) IOCG Project target 5kms across
• Camel Creek (NT) IOCG Project target 5kms across

“All projects host known targetsthat are of a size and character of IOCG deposits.”IOCG deposits range in size from 10,000,000 tonnes to 9,000,000,000 tonnes with grades of between 0.2% and5% Cu, 0.1g/t and 3g/t Au. The largest IOCG deposit in the world is BHP’s Olympic Dam which contains8,330,000,000 tonnes of ore at 0.8% Cu, 0.76g/t Au, 3.95g/t Ag and 280ppm U. These grades are not consideredhigh but the sheer size of IOCG deposits makes them tremendously valuable. Olympic Dam is the fourth largestproducer of Cu in the world and the fifth largest producer of Au in the world."

Question: "Why is Inca exploring for IOCG deposits when IOCG deposits are arguably too large for a junior?"

Answer: “Whilst Inca might not be able to fully develop a deposit such as these, Inca is certainly capable offinding one,” says Mr Brown. “And… the opportunity to acquire a funding partner is heightened.”“Inca is deploying the same ambitious exploration strategy in Australia as it is in Peru—looking for tier-1 scalemetal deposits with a gold-silver-copper payload. We are exploring for porphyries in Peru and IOCG’s andporphyries in Australia. Furthermore, Inca is acquiring tier-1 projects on their merits and in cost effect ways(application and/or JVRA’s). We feel that this strategy exposes our shareholders to investment growth through,value-add exploration, potential discovery and/or heightened partnership outcomes, which we have recentlyproven well capable of delivering.”

Well done 3 Amigos!

Paul