Inca Pacific Delivers Final Feasibility Study to Government of Peru

    TSX Venture Symbol: IPR
    Standard & Poor's Listed

    VANCOUVER, Jan. 2 /CNW/ - Inca Pacific Resources Inc. (TSX-V: IPR, BVL:
IPR) is pleased to announce that, in accordance with its agreements with the
Government of Peru (GOP), it has:

    1. Delivered a copy of the Magistral Final Feasibility Study to the GOP.
    2. Paid US$400,000 to the GOP.

    Anthony Floyd, President & CEO, said "This major milestone has been
achieved as a result of a monumental effort by our consultants MTB Project
Management, Samuel Engineering, Mine Development Associates and Vector Peru.
Notwithstanding how busy the industry is today, the consultants managed to
complete the study and deliver it before our deadline of December 31st 2007."
    The Company has appointed Pincock, Allen & Holt as Independent Engineer
to review the Final Feasibility Study and to express an opinion as to whether
the study is in a form and content that would allow major financial
institutions to provide all or part of the debt and/or equity financing for
the construction of the Magistral project.

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


SOURCES INC. Signed: "Anthony Floyd" President and Director

For further information:

For further information: Bill Galine, Investor Relations, Phone: (604)
662-3922, Email:

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