Tocvan Ventures – Bulk Sample Announcement

Tocvan Announces Plan for Bulk Sample from Pilar Gold-Silver Project, Outlines Next Steps for Development

Tocvan has entered into an agreement with a neighboring private mining company for the completion of its first bulk sample from the Pilar Gold-Silver Project in Sonora, Mexico. Bulk sample material will be prepared early in 2023 for processing by heap-leach method at a private mining operation less than 25 kilometers to the east of Pilar. Up to 1,000 tonnes of material will be processed for the bulk sample, which will aim to provide a more detailed account of expected head-grade and recovery percentage of gold. Total duration of the processing and analysis of the bulk sample is expected to span three to four months. The information provided from the sample will be used for planning in coordination for permitting of full-scale mine and process facilities on-site at Pilar.

Pilar Project Summary:
• Over 22,000 meters drilled to date
• Gold-Silver Mineralization defined from surface along a 600-meter Trend and expanding
• Drilling Highlighted by: 116.9-meters of 1.2 g/t Au, including 10.2-meters of 12 g/t Au and 23 g/t Ag
• Preliminary Gold Recovery from Bottle-Roll and Column Leach above 85%

Next Steps:
• Bulk Sampling
• Continued Drilling (SE Extensions and Infill)
• Updated Reporting and Maiden Resource Estimate
• Permitting for Full-Scale On-site Mine Facilities and Processing

“A bulk sample at Pilar is an important next step in showcasing the head-grade and recovery of gold,” stated Brodie Sutherland, CEO. “We are very fortunate to have access to a local facility with all of the needed equipment and support staff to conduct the sample. Planning is now underway to begin the collection and processing of the sample in early 2023. Results from this sample will be used for permitting a full-scale facility at Pilar, expected to be filed in 2023. The next year is shaping up to be our most exciting yet as we continue to advance both our projects in Sonora.”

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