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.”

Cautionary Statement Regarding Forward Looking Statements

This video contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.

There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

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