We exploit the vastly increased sensitivity of the Expanded Very Large Array ( EVLA ) to study the radio continuum and polarization properties of the post–starburst , dwarf irregular galaxy IC 10 at 6 cm , at a linear resolution of \sim 50 pc . We find close agreement between radio continuum and H \alpha emission , from the brightest H ii regions to the weaker emission in the disk . A quantitative analysis shows a strictly linear correlation , where the thermal component contributes 50 \% to the total radio emission , the remainder being due to a non–thermal component with a surprisingly steep radio spectral index of between -0.7 and -1.0 suggesting substantial radiation losses of the cosmic–ray electrons . We confirm and clearly resolve polarized emission at the 10 - 20 \% level associated with a non–thermal superbubble , where the ordered magnetic field is possibly enhanced due to the compression of the expanding bubble . A fraction of the cosmic–ray electrons has likely escaped because the measured radio emission is a factor of 3 lower than what is suggested by the H \alpha inferred SFR .