Inca Pacific Initiates Final Feasibility Study for Magistral Copper-Molybdenum Deposit

Inca Pacific Resources Inc. has initiated a final feasibility study and awarded contracts to engineering firms for the Magistral copper-molybdenum project located in Ancash, Peru. The final feasibility study will be of a form and content that will satisfy the requirements of banking institutions to provide financing to construct a mining operation at Magistral. T he final feasibility study is scheduled to be completed in the third quarter of 2007. Project management for the study will be provided by MTB Project Management Professionals of Denver.

The following engineering firms have been contracted to complete the final feasibility study:

– Mine Design Services- Mine Development Associates (Reno); – Geotechnical Engineering, Environmental, Permitting & Social-Vector (Peru);

– Detailed Feasibility Study Engineering-Samuel Engineering (Denver).

Anthony Floyd, President and Chief Executive Officer, said: “Our recently completed Preliminary Feasibility Study has demonstrated that Magistral can be developed into a significant copper and molybdenum producer. If we are able to complete the final feasibility study by the third quarter of 2007 and gain approval of our Environmental Impact Assessment (EIA) by March 2008 then we are on track to commence production by the first quarter of 2010.”

INCA PACIFIC RESOURCES INC.

Anthony Floyd, President and Director

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include Inca Pacific’s commitment to, and plans for completing a final feasibility study, obtaining approval of an Environmental Impact Assessment and developing the Magistral Project. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Inca Pacific to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Magistral Project, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of copper, silver and molybdenum. Although Inca Pacific has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Inca Pacific does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Standard & Poor’s Listed

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact:

Bill Galine Inca Pacific Resources Inc. Investor Relations (604) 662-3922 Email: bgaline@incapacific.com

Website: www.incapacific.com

Source: Inca Pacific Resources Inc.