Compañia Minera Milpo S.A.A. Completes Acquisition of Inca Pacific Resources Inc.

    




 /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN  THE UNITED STATES OF AMERICA.  FAILURE TO COMPLY WITH THIS RESTRICTION  MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/ 

 VANCOUVER AND LIMA, Peru, Oct. 26, 2011 /CNW/ - Inca Pacific Resources  Inc.  ("Inca Pacific") and Compañía Minera Milpo  S.A.A. (BVL: MILPOC1) ("MILPO") jointly announce the completion of the  acquisition by MILPO of all of the issued and outstanding common shares  of Inca Pacific, effective today, by way of a statutory arrangement  under the provisions of the Business Corporations Act (British Columbia). 

 Shareholders of Inca Pacific will receive C$0.61 in cash for each common  share (each, a "Share") of Inca Pacific held and holders of options to  acquire Shares (each, an "Option") will receive a cash payment in  respect of each Option held equal to the excess, if any, of C$0.61 over  the applicable exercise price of such Option.  Registered shareholders  and holders of Options should follow the instructions in Inca Pacific's  management information circular dated September 22, 2011 in order to  obtain the cash consideration in respect of their Shares and Options. 

 The Shares were halted from trading on the TSX Venture Exchange on  October 26, 2011 and will be voluntarily delisted from the TSX Venture  Exchange and the Lima Stock Exchange in the near future. Inca Pacific  will also apply to terminate its status as a reporting issuer in  certain provinces of Canada and as a public company in Peru. 

 About MILPO 

 MILPO is a Peruvian mining company headquartered in Lima and listed on  the Lima Stock Exchange.  The company was founded in 1949 and is  controlled by Votorantim Metais Ltda. 

 MILPO is engaged in the exploration, development, and mining of zinc,  copper, lead, silver and gold.  It operates four mines in Peru: the El  Porvenir and the Atacocha mines, located in Pasco; the Chapi mine,  located in Moquegua, and the Cerro Lindo mine, located in Ica.  In  addition, MILPO operates the Ivan mine and refinery, located in  Antofagasta, Chile.  Also, MILPO has a strong pipeline of exploration  projects at different development stages and is working to expand its  operational footprint. 

 CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION 

 Certain information contained in this news release, including any  information relating to the transaction, Inca Pacific, may be deemed  "forward-looking". All statements in this news release, other than  statements of historical fact, that address events or developments that  Inca Pacific expects to occur, are considered "forward-looking  information".   These statements relate to future events and reflect  Inca Pacific's current internal projections, expectations or beliefs  and are based on information currently available to Inca Pacific.  In  some cases forward-looking information can be identified by terminology  such as "may", "will", "should", "expect", "intend", "plan",  "anticipate", "believe", "estimate", "projects", "potential", or the  negative of those terms or other comparable terminology.  Although Inca  Pacific believes that the forward-looking information contained in this  news release is based on reasonable assumptions, readers cannot be  assured that actual results will be consistent with such statements.   Accordingly, readers are cautioned against placing undue reliance on  forward-looking information.  Inca Pacific expressly disclaims any  intention or obligation to update or revise any forward-looking  information, whether as a result of new information, events or  otherwise, except in accordance with applicable securities laws.    

 This news release and the information contained herein does not  constitute an offer of securities for sale in the United States and  securities may not be offered or sold in the United States absent  registration or exemption from registration.   

 Neither the TSX Venture Exchange nor the Investment Industry Regulatory  Organization of Canada accepts responsibility for the adequacy or  accuracy of this release. 

Inca Pacific Resources Inc.


CONTACT:  regarding MILPO contact Francisco Ismodes Mezzano, (51-1)710-5517 


    

Copyright