PLACEMENT Notice Under ASX Listing Rule 3.10.5 and Section 708A...

PLACEMENT Notice Under ASX Listing Rule 3.10.5 and Section 708A of the Corporations Act and Appendix 3B

Inca Minerals Limited (Inca or Company) is pleased to advise the Company has completed a capital raising of $170,000 (before raising costs)through the issue of 38,600,000 fully paid ordinary shares and 13,450,000 options. The capital raising was completed through: (a) The placement of 13,450,000 fully paid ordinary shares, each with a free attaching option, at an issue price of 0.5 cents per share (Placement 1); (b) The placement of 25,150,000 fully paid ordinary shares at an issue price of 0.4 cents per share (Placement 2). The funds raised from Placement 1 and Placement 2 will be used for exploration at the Company’s zincsilver-lead projects in Peru and for working capital. The requisite Appendix 3B is attached to this announcement and Inca provides the following information pursuant to ASX Listing Rule 3.10.5 and Section 708A(5)(e) of the Corporations Act. Placement 1 was made to new and existing shareholders without disclosure under Part 6D.2 of the Corporations Act, using Inca’s ASX 7.1 (15%) capacity, under Section 708(1) of the Corporations Act. Placement 2 was made to Acuity Capital Investment Management Pty Ltd without disclosure under Part 6D.2 of the Corporations Act, using Inca’s ASX 7.1 (15%) capacity, under Section 708(8) of the Corporations Act. Shares issued under Placement 1 and Placement 2 rank equally with all other fully paid issued ordinary shares (ASX: ICG). The options issued under Placement 1 rank equally with, and were issued under the same terms and conditions as, the options first issued under the Company’s Prospectus dated 2 August 2018 (ASX: ICGO). As at the date of this notice Inca has complied with: (a) The provisions of Chapter 2M of the Corporations Act; (b) Section 674 of the Corporations Act; and there is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.