ICG 20.0% 0.6¢ inca minerals limited

Ann: FINAL GEOPHYSICS REPORT UNVEILS RIQUEZA MASSIVE POTENTIAL, page-19

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    Earn In Agreement NegotiationsImportant key principles of the earn-in agreement (EIA) between Inca and South32 were agreed in the originaloption agreement signed in March 2018. In August 2018 the two companies agreed that, subject to execution ofthe EIA, South32 shall earn a 60% interest in Riqueza for an amount, to be agreed, between $US8 - $US10 million.Discussion and negotiations between the two companies concerning the proposed exploration programcommenced in September 2018 and have progressed well. Contractually, there is now a 90-day negotiationperiod which commenced on receipt of the Geophysics Report (subject of this announcement). Given thepositive interaction and tenor of discussions to date, Inca expects negotiations can be completed within thistimeframe and looks forward to doing so.*

 
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