On April 8, 2024, Inca One Gold Corp. received a notice of default from OCIM Precious Metals related to a missed gold loan payment, due pursuant to the Company's Gold Pre-Payment Facility with OCIM, that was previously announced on August 9, 2021. The Facility included an immediate USD 6 million drawdown payable in 4,181 ounces in gold in equal, monthly gold payments of 261.3 ounces with access to an additional USD 3 million after payment of 50% of the Facility.

The missed payment consists of 75 ounces of gold valued at approximately USD 170,000. Inca One continues to operate and serve its ASMs, partners, and shareholders and is actively working to address the matter. The Company is taking decisive action to stabilize its financial position and ensure a sustainable path forward.