ROKEBY RESOURCES LIMITED — Capital/Financing Update 2021

Mar 24, 2021

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Targeting a new generation of Tier-1 mineral discoveries in Peru and Australia

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ASX Announcement │ 25 March 2021 │ ASX: ICG

PERU DRILL PERMIT PROGRESS UPDATE

Highlights

• Exploration Permit (or Certificate to Commence Work) progressing with only minor observations received from the Ministry of Energy and Mines ( MINEM )

• Water Permit also progressing with minor observations received from the MINEM

• Company expected to lodge required responses to the various MINEN observations in the next couple of days

Inca Minerals Limited (ASX: ICG ) provides the following update on progress towards securing the final two permits required to commence drilling of Tier-1 targets in the NE Area at its Riqueza Project in Peru, as outlined in previous ASX announcements. The final two pending permits are the Certificate to Commence Work (or EP ) and the Water Permit.

The Company has been informed by the Ministry of Energy and Mines (MINEM) in Peru that its request to reverse the 30 business day assessment period for the EP was unsuccessful. This will not have a material impact on the timing of the approvals given that the 30 business day assessment period expired, in any event, on 18 March 2021.

Inca has subsequently received a number of “observations” (essentially a list of queries) from MINEM which need to be addressed prior to the final granting of the EP. These queries are largely of a clerical nature, and the Company is already well advanced in its responses. By way of example, some of the observations made by MINEM, which the company needs to respond to, include asking for:

• Differences in the effective perimeter area of the project (between MINEM System: Extranet and the FTA). Essentially this means that they are asking for more information about the specific areas covered by the FTA;

• Surface land use authorization: here they are seeking confirmation that the specific drill permit area is within the area covered by the agreement with the Acobambilla (local) community; and

• An integrated map showing the tenements, FTA, CIRA, surface land, the project area and the drill platforms.

Whilst the Company has up to 20 business days to respond to these MINEM observations, these questions are simple to answer and the company expects to finalise and submit the required responses in the next couple of days to ensure timely approval for drilling.

The Water Permit has also progressed. The field inspection has been completed by the water authorities and a number of observations have also now been received. There is no automatic assessment for a water permit though the assessment regime is not as regimented as it is for the EP. These observations are also of a clerical nature and the Company has already begun its responses.

Whilst the delays in obtaining the last two permits are frustrating, Inca respects the approval processes and recognises the efforts of its Peruvian staff to ensure all requested information is provided to authorities on a timely basis, to facilitate the granting of these permits as soon as possible. The company will inform the market as soon as it is advised that the final drill permit has been received.

ASX: ICG │ Shares on issue 402.97m

Suite 1/16 Nicholson Road, Subiaco, WA 6008 │PO BOX 38, West Perth, WA 6872

Telephone: +61 (08) 6145 0300 │ Website: www.incaminerals.com.au │ ABN: 36 128 512 907

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Investor inquiries - Ross Brown, Managing Director - Inca Minerals - 0407 242 810 Media Inquiries/Investor Relations - Nicholas Read, Read Corporate - 0419 929 046

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Ross Brown Managing Director Inca Minerals Limited

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Competent Person’s Statements

The information in this report that relates to exploration activities for the Riqueza project, located in Peru, is based on information compiled by Mr Ross Brown BSc (Hons), MAusIMM, SEG, MAICD Managing Director, Inca Minerals Limited, who is a Member of the Australasian Institute of Mining and Metallurgy. He has sufficient experience, which is relevant to the exploration activities, style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Brown is a fulltime employee of Inca Minerals Limited and consents to the report being issued in the form and context in which it appears.

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