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Inca Pacific Resources Inc

Publié le 03 novembre 2008

Announces Steps To Conserve Working Capital

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=======================================================================
Re:   News Release - Monday, November 03, 2008
      Inca Pacific Announces Steps To Conserve Working Capital
=======================================================================

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.

=======================================================================
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
=======================================================================
.

Inca Pacific Resources Inc

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CODE : IPR.V
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Inca Pacific Res. est une société d’exploration minière de cuivre basée au Canada.

Inca Pacific Res. est en développement de projets de cuivre, d'argent et de molybdène au Perou.

Son principal projet en développement est MAGISTRAL PROPERTY au Perou et son principal projet en exploration est PASACANCHA au Perou.

Inca Pacific Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 34,0 millions CA$ (34,0 millions US$, 24,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,35 CA$, et son plus bas niveau récent le 21 novembre 2008 à 0,12 CA$.

Inca Pacific Res. possède 56 648 000 actions en circulation.

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Financements de Inca Pacific Resources Inc
14/01/2008 Closes $2.57 Million Private Placement
Nominations de Inca Pacific Resources Inc
26/11/2008Appoints Rothwell As President & Ceo
04/02/2008 Appoints Chief Operating Officer
Projets de Inca Pacific Resources Inc
21/01/2008(Magistral Property) Files Magistral Final Feasibility Study On SEDAR
03/12/2007(Magistral Property) Completes Final Feasibility Study For Magistral Copper-Moly...
28/06/2007(Magistral Property)Obtains 30 Day Extension to the Deadline to File Feasibility...
07/05/2007Reports Continued Progress On Final Feasibility Study For Ma...
Communiqués de Presse de Inca Pacific Resources Inc
18/04/2011Disagrees With the Government of Peru's Sale of Magistral
03/03/2011.: Modification to Magistral Arbitration Demand
03/11/2008Announces Steps To Conserve Working Capital
02/04/2008Submits Environmental And Social Impact Assessment To Govern...
28/02/2008 Provides Corporate Update
26/07/2007Signs Formal Agreement with Government Of Peru
26/02/2007UPDATE
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