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Inca Pacific Resources Inc

Publié le 28 février 2008

Provides Corporate Update

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Re: News Release - Thursday, February 28, 2008
Inca Pacific Provides Corporate Update

Vancouver, British Columbia, February 28, 2008 - Inca Pacific Resources
Inc. (TSX-V:IPR) ("Inca Pacific" or the "Company")announces that
Activos Mineros, representing the Government of Peru ("GOP"), has
acknowledged receipt of a comfort letter from each of BNP Paribas and
Barclays Bank stating that they have reviewed the Final Feasibility
Study for the Magistral project ("FFS") that was delivered on December
27, 2007 and that, based solely on a desk top review and without
independent verification of the FFS's assumptions, they confirm that it
is in a form and content that meets the requirements that would allow
BNP Paribas and Barclays Bank to provide all or part of the finance for
the Magistral project, after conducting a satisfactory due diligence
investigation and subject to market and certain other conditions.

The GOP has acknowledged that in delivering the comfort letters Inca
Pacific has complied with the requirement to provide one or more
letters from major financial institutions stating that the FFS is a
"Bankable" Feasibility Study. In addition, the GOP provided Inca
Pacific with a list of observations about the FFS. The observations are
principally requests for further information or detail. Inca Pacific
has 90 days to respond to the observations.

The Company further reports that on January 31, 2008 Inca Pacific
received a copy of an Initial Status Report from Pincock Allen & Holt
("PAH"), independent engineers, which summarizes PAH's site visit,
provides their observations on the Magistral project's technical,
environmental and economic information reviewed to date and provides an
initial assessment of any project fatal flaws or risks. PAH was
retained in December 2007 by Cutfield Freeman & Co Limited ("Cutfield
Freeman") to act as independent engineer on behalf of potential lending
institutions in connection with the possible senior debt component of
project financing. In January PAH completed a site visit to the
Magistral project and also commenced review of the December 2007 FFS
prepared by Samuel Engineering.

In the report PAH state that their review to date has not identified
any issues that would be considered "fatal flaws." There are, of
course, issues that could pose a risk to the project including:
permitting, environmental & social impact assessment preparation, site
access roads, port facility construction, community agreements and
relocation issues, low-grade ore stockpile location, closure and
reclamation and overall project schedule. The Company believes that
these are typical for a project at the stage of Magistral.

Anthony Floyd, President & CEO, said, "Receiving the bank comfort
letters and completion of the independent fatal flaw review are two
more significant steps in our development of the Magistral project. We
now have 90 days to respond to the observations made by the Government
of Peru and mitigate the risks outlined by PAH".

Finally, Cutfield Freeman continues to work with the Company to
identify financing options and any other proposal which maximizes value
to Inca Pacific shareholders.


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 and the Lima Stock Exchange (the Bolsa de
Valores de Lima) have not reviewed and do 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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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
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