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Inca Pacific Reports Continued Progress On Final Feasibility
Study For Magistral Copper-Molybdenum Project
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Vancouver, BC, May 7, 2007 - Inca Pacific Resources Inc. (TSX-V:IPR)
reports continued progress with the preparation of a Final Feasibility
Study (FFS) for its Magistral Copper-Molybdenum project in Ancash,
Peru. The drilling program (infill, condemnation and geotechnical) has
been completed. The program consisted of 11,167.00 meters in 66 new
holes. Drilling at Magistral since discovery now totals 65,214.28
meters in 286 holes.

Mine Development Associates are currently updating the geological model
in preparation for completing a new resource estimate. This will be
followed by open pit design work and an estimate of proven and probable
reserves in accordance with NI 43-101 requirements. Vector Engineering
is continuing work on facility design, tailings dam configuration,
waste dump, topsoil storage facility and haul roads. G&T Metallurgical
Services, under the supervision of Samuel Engineering, is nearing
completion of the Phase 2 metallurgical work and Phase 3 (pilot
testing) is under way. In addition the first regulatory public
workshops were held in the neighboring towns of Conchucos and Pampas.

MTB Project Management Professionals, of Denver, who are managing the
FFS, have advised the company that the FFS is estimated to be complete
by October 30th 2007. In parallel the Environmental Impact Assessment
is estimated to be complete by November 26th, 2007. The process to
select a strategic partner to assist in the development of the project
continues. To date confidentiality agreements have been signed with
eleven different parties. Four groups have made site visits and more
are planned for May.

The Magistral deposit contains Measured and Indicated Resources
estimated at 189 million tonnes grading 0.51% Cu and 0.05% Mo
containing 2.14 billion lbs of Copper and 216 million lbs of
Molybdenum. The Inferred Resources were estimated at 56 million tonnes
grading 0.56% Cu and 0.02% Mo containing 688 million lbs of Copper and
29 million lbs of Molybdenum. This Mineral Resource estimate was filed
on SEDAR on December 22, 2005. The qualified persons were Steven
Ristorcelli, C.P.G., and George Sivertz, PGeo.

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

CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation. Forward-looking
statements include Inca Pacific's commitment to, and plans for
completing a final feasibility study, obtaining approval of an
Environmental Impact Assessment and developing the Magistral Project.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Inca Pacific to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the exploration and
potential development of the Magistral Project, risks related to
international operations, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of copper,
silver and molybdenum. Although Inca Pacific has attempted to identify
important factors that could cause actual results to differ materially
from those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Inca Pacific does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws.

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) 2007 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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