IPR Inca Pacific Resources

Inca Pacific Resources Inc. (TSX VENTURE:IPR) has closed its non-brokered
private placement of 1,515,600 common shares at a price of $1.70 per share (the
"Offering") with Sprott Asset Management on behalf of certain managed accounts
("Sprott") for total proceeds of $2,576,520. As a result of the Offering, Sprott
owns approximately 49.47% of the issued and outstanding shares of Inca Pacific
on a non-diluted basis.


Prior to the completion of the private placement, Sprott sold 1,515,600 common
shares at a price of $1.80 per share through the facilities of the TSX Venture
Exchange. For its role in facilitating this sale, a fee was paid to Credibolsa
SAB S.A. consisting of $136,404 and warrants to purchase a total of 75,780
shares of Inca Pacific exercisable at a price of $2.50 per share on or before
July 14, 2009.


The Sprott shares and any shares issued on exercise of Credibolsa's warrants are
subject to a hold period expiring May 14, 2008.


Proceeds from the Offering will be used to advance Inca Pacific's 100% owned
Magistral Copper-Molybdenum Property in Peru and for general working capital
purposes.


CAUTION REGARDING FORWARD LOOKING STATEMENTS: This release includes certain
statements that may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts that address future
production or resource potential, exploration drilling, exploitation activities
and events or developments that Inca Pacific expects to occur, are
forward-looking statements. Although the company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward looking statements include fluctuations in commodity prices,
exploration successes, and continued availability of capital and financing and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. The Company does not assume any obligation to update
or revise its forward-looking statements, whether as a result of new
information, future events or otherwise.


INCA PACIFIC RESOURCES INC.

Anthony Floyd, President and Director

Standard & Poor's Listed

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