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Re:   News Release - Monday, November 03, 2008
      Inca Pacific Announces Steps To Conserve Working Capital
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Vancouver, BC, November 3, 2008 - Inca Pacific Resources Inc. (TSX-V:
IPR) announces that as a result of turbulent equity, debt and metal
markets it is taking steps to conserve working capital.

Until recently the Company, in the interests of accelerating the
development of its Magistral Copper & Molybdenum property, had budgeted
to order long lead time equipment and upgrade the main access road to
the project prior to receiving approval of its Environmental & Social
Impact Assessment (ESIA) and being granted the majority of its
construction permits.

As result of current circumstances and the uncertainty of when project
financing might be obtained the Company has decided to:

1. cancel the previously placed order for a ball mill announced in
August;
2. postpone any new orders for long lead time equipment; and
3. postpone the upgrade of the main access road.

All efforts will now be focused on obtaining ESIA approval and the
principal construction permits. Once permitting has been achieved and
assuming a return of more stable equity, debt and metal markets the
Company will resume development of the project.

These decisions may impact the commencement of commercial production.
Under the Company's current agreement with the Government of Peru
(GOP), Inca Pacific has an obligation to place the Magistral property
into production no later than December 31, 2011.  Failure to meet this
deadline may result in the loss of a key portion of the Magistral
property. As the current deterioration of equity, debt and metal
markets is beyond the control of the Company, Inca Pacific intends to
request an extension of the current deadline from the GOP by invoking
the clause in our existing agreement which provides that terms may be
extended for duly justified causes.

As of August 31, 2008 the Company had working capital of US$17.3
million. The board of directors recently approved a US$11.5 million
budget covering the period September 1, 2008-February 28, 2010. A
cancellation charge payable to the supplier of the ball mill will be
reported in the fourth quarter financial statements.

INCA PACIFIC RESOURCES INC.

Signed:  "Anthony Floyd"
President and Director


For further information contact:
Bill Galine
Investor Relations
Phone:  604-662-3922
Email:  bgaline@incapacific.com


The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

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Copyright (c) 2008 INCA PACIFIC RESOURCES INC. (IPR)  All rights
reserved.  For more information visit our website at
http://www.incapacific.com/ or send mailto:contact@incapacific.com
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