Inca Pacific Announces Securityholder Approval of Arrangement With Compania Minera Milpo S.A.A.

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UNITED STATES OF AMERICA. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE
A VIOLATION OF U.S. SECURITIES LAWS.


Inca Pacific Resources Inc. (TSX VENTURE:IPR)(BVLAC:IPR) ("Inca Pacific") is
pleased to announce that Inca Pacific received, at the meeting of its
securityholders held on October 19, 2011, securityholder approval for the
previously announced arrangement pursuant to which Compania Minera Milpo S.A.A.
("MILPO") will acquire all of the issued and outstanding common shares of Inca
Pacific (the "Transaction"). 63.60% of the eligible Inca Pacific securities were
voted at the Inca Pacific meeting, with 99.97% of the securities being voted in
favour of the Transaction. The Transaction is described in the management
information circular of Inca Pacific dated September 22, 2011.


Closing of the Transaction is expected to occur on or about October 26, 2011.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain information contained in this news release, including any information
relating to the proposed Transaction and 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 expectations regarding the
Transaction and the business prospects and opportunities of Inca Pacific. These
forward-looking statements 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. Assumptions upon which such
forward-looking information (regarding completion of the Transaction) is based
include that Inca Pacific and MILPO will be able to satisfy the conditions in
the arrangement agreement between them dated September 5, 2011 , that all third
party regulatory and governmental approvals to the Transaction will be obtained
and all other conditions to completion of the Transaction will be satisfied or
waived. 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.