Ann: Proposed issue of Securities - ICG, page-36

Here's the details of the offer as presented to investors:

Company: Inca Minerals
Code: ICG

Deal Summary:

180 Markets has the first right to invest in a placement being conducted by Inca Minerals (ASX Code: ICG)

Inca Minerals is seeking to raise $2.8M by way of issuing 28M new ICG shares at an issue price of 10c per new share.

For each three (3) new shares subscribed for under this offer, participants will receive the following: one (1) new ICGOA, one (1) new ICGOB and one (1) new ICGOC.

All otions are listed

ICGOA Last trade: $0.028 (2.8 cents)

ICGOB Last trade$0.016 (1.6 cents)

ICGOC Last trade$0.025 (2.5 cents)

Strike Price:

***The minimum raise amount has already been reached and as such, the options will need to be approved at the next shareholder meeting***

Yesterday, Inca (ASX: ICG) shares hit a 12 month high of 11c ($0.11)

Raise Price: 10.0c (10.0 cents)

Effective entry price: 7.7c (7.7 cents)

Closing Price: 10.5c (10.5 cents)

Effective entry discount to last close: 26.67%

Use of Funds

Total: $2.8M

• $0.7M to provide additional capital for the flagship Riqueza Cu-Au-Ag porphyry-skarn Project (Peru) for the current drill program
• $1.3M to provide additional capital for the emerging Frewena Group IOCG-SEDEX Project to fast track possible geophysics and drill program
• $0.25M to provide additional capital at the emerging Jean Elson IOCG Project for possible airborne geophysics
• $0.25M to provide additional capital at the MaCauley Creek porphyry-skarn Project for possible drill program
• $0.3M for working capital

Company Overview

Inca Minerals Limited (Inca) is a junior resource company listed on the Australian Stock Exchange (code: ICG) with a track record of exploration, discovery and the generation of positive newsflow. Inca has been exploring in Peru since 2012 which is one of the best places in the world to search for metal deposits.

Inca now also explores in the Northern Territory and Queensland. “Whether in Peru or the outback of Australia, our objective is to find tier-1 sized economic deposits” says Inca’s Managing Director. “Our focus is gold-copper porphyry deposits, copper and zinc skarn deposits and iron ore-copper-gold deposits.” Inca also knows the value of forming partnerships with major mining houses as a way to conduct highly effective and substantive exploration. The ultimate purpose is to make discoveries and to generate shareholder wealth.

Investment Highlights

• Commencement of drilling at Riqueza to investigate the occurrence of Tier-1 scale porphyry and skarn mineralisation (Commencing March/April):
  • The drill targets were independently generated using major-mining house selection criteria.
• Airborne geophysics at Frewena East – this project is adjacent to the Middle Island copper discovery in the emerging East Tennant IOCG Belt (mid-year)
  • Applications for Gov co-funding to be lodged soon.
  • The MDI copper occurrence is believe to be on the western margin of a 5km target located on our ground
• Ground geophysics and/or drilling at Frewena Far East – this project surrounds the excised NT Government drilling block that recently discovered copper mineralisation in the emerging East Tennant IOCG Belt:
  • Applications for Gov co-funding to be lodged soon.
• Ground geophysics and/or drilling at Frewena Fable – in the emerging East Tennant IOCG Belt (2021)
• Sampling widespread copper in a 500 m vein swarm at Jean Elson (April)
  • Applications for Gov co-funding to be lodged soon.
• Airborne geophysics at Jean Elson – this project is highly prospective for IOCG-Orogenic gold mineralisation (mid-year).
  • Applications for Gov co-funding to be lodged soon.
• Drilling at MaCauley Creek (late 2021- early 2022).

Recent Announcements

Geoscience Intersects IOCG-style Sulphides Near Frewena

Soil Sample Program Over IOCG Target - Frewena East

Explanation of NE Area Drilling at Riqueza

Australian Geophysics Programs Update