Innocent Inc. (INCT) Enters into a Definitive Agreement to Acquire Murciealagos Vizcaya and Lilly Rai Mines in Ecuador

Mon Aug 9, 2010 7:00am EDT

* Reuters is not responsible for the content in this press release.

LAS VEGAS--(Business Wire)--
Innocent Inc. (OTCBB:INCT), a gold mining company focused in Ecuador, announced
today that Global Finishing Ecuador has entered into a definitive agreement to
acquire 100% of the Murciealagos Vizcaya and Lilly Rai mining concessions in the
Zaruma-Portovelo Mining District of Ecuador's El Oro Province. Innocent holds a
51% majority interest in Global Finishing Inc., The parent company of Global
Finishing Ecuador S.A. 

The terms of the agreement are: 1,200,000 USD, with an initial deposit of
$250,000 USD due on August 16th, 2010 to consummate the acquisition. Five
additional payments totaling 950,000 USD will be due every sixth month
thereafter. Innocent Inc. has agreed to secure and provide the funding for the

The acquisition of Murciealagos Vizcaya and Lilly Rai concessions represent a
significant step forward by Innocent in its strategy of acquiring strategic
clusters of in-production and near-term production mines in both the
Zaruma-Portovelo district and the nearby San Gerardo district, also located in
the El Oro Province. 

The Zaruma-Portovelo mining district is an historic Ecuadorian gold producer.
The Incas were extracting gold in the area when the Spanish founded the town of
Zaruma in 1549. Modern mining was first initiated in the district in 1905. To
date, 90% of all gold found in Ecuador comes from these two regions. 

Innocent Inc. is in various stages of acquiring multiple projects in the two
mining districts that meet its strategic business goals. Innocent was attracted
to the Murciealagos Vizcaya and Lilly Rai opportunities for a number of reasons,

* Innocent Inc. was able to negotiate the acquisition of 100% of the property. 
* Innocent Inc. is confident that the application of new production
technologies, investment capital for expansion, and an enhanced labor force will
result in increased production output at the property.

"This is a fantastic property that we believe has been badly underperforming due
to lack of strategic investment capital," said Richard Diotte, Innocent's
Vice-President, South America Operations. "We feel confident that our talented
team will be able to significantly enhance production efficiencies and output,
making the Murciealagos Vizcaya and Lilly Rai concessions a great addition to
building our portfolio." 

This transaction is subject to securing and payment of the initial two hundred
fifty thousand dollars by the expected close date of August 16, 2010. 

About Innocent Inc.

Innocent Inc. (INCT:OTCBB) is an emerging mining company focused on rapid
growth. Innocent specializes in acquiring high-quality in-production and
near-term production properties that are performing significantly below their
projected capacity. Through improvements in processing techniques and strategic
investments in mechanization, we seek to rapidly increase production levels and
generate predictable, sustainable value. Our current focus is on southern
Ecuador supported by a strong pipeline of acquisitions in various stages of

Safe Harbor

This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act
of 1995. Those statements include statements regarding the intent, belief or
current expectations of Innocent Inc. with members of its management team as
well as the assumptions on which such statements are based. Prospective
investors are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, and that
actual results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to management that
could cause actual results to differ materially from those in forward-statements
include fluctuation of operating results, the ability to compete successfully
and the ability to complete before-mentioned transactions. The Company
undertakes no obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events or changes
to future operating results.

Innocent Inc
Wayne Doss, 828-489-9409
Investor Relations:
OTC Connections Inc., 1-800-723-5030

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