Highlights:
• Initial surface results from North Block across historic mine workings yield high silver values
• Over 1,300 meters drilled to date across the North Block, results pending
• Surface data strengthens target areas for drill testing higher grade gold potential at depth.
• Mineralized shoots and feeder zones could coincide with strong alteration signatures where Ag–Pb–Zn–Sb–As and Au–As–Sb–Bi are present.
• Road building and preparation work continues in South Block for trenching and extraction.
Hermosillo, Mexico – December 04, 2025 – Tocvan Ventures Corp. (the “Company” or “Tocvan”) (CSE: TOC) (OTCQB: TCVNF) (WKN: TV3/ A2PE64) a leading exploration company focused on advancing its flagship Gran Pilar Gold-Silver Project in Sonora, Mexico, is pleased to announce encouraging results from initial surface sampling on the North Block of the Gran Pilar property. The sampling program has revealed elevated silver values, strong pathfinder elements and alteration indicators, highlighting significant potential for expanded mineralization. The surface sampling campaign targeted underexplored areas within the North Block, including several new zones and historic mine workings. Key highlights include: Elevated silver assays reaching up to 134 g/t (4.3 oz/t Ag), indicating high-grade potential in surface exposures.
Widespread elevated pathfinder elements and alteration signatures, such as anomalous arsenic, antimony, lead and zinc, which are commonly associated with epithermal gold-silver systems.
Identification of mineralization indicators across multiple new areas, including old mine workings that suggest historical activity and untapped exploration opportunities.
These results build on Tocvan’s ongoing efforts to delineate and expand the known mineralized zones at Gran Pilar. The North Block, part of the larger Gran Pilar expansion area, represents a strategic addition to the project and underscores the district-scale potential of the property.
“We are thrilled with these initial surface results from the North Block, which confirm our belief in the expansive mineralization system at Pilar,” said Brodie Sutherland, CEO of Tocvan Ventures. “The high silver values and strong alteration indicators point to exciting new targets that could significantly enhance our resource base. Combined with our active drill program, these findings position us well for continued growth and value creation for our shareholders. Furthermore, our pilot preparations are advancing steadily following the full permit approval for the pilot mine facility, allowing us to test processing methods on-site. In parallel, roads for trenching efforts are being built to expose and sample these new zones, providing critical data to guide our expansion strategy.”
In addition to the sampling update, Tocvan reports progress on its ongoing drill program at Gran Pilar. To date, approximately 1,300 meters have been drilled across five holes, focusing on resource discovery targets. The program is designed to further define high-priority zones and test extensions of known mineralization. Assay results from these holes are pending and will be released as they become available. Tocvan remains committed to advancing the Gran Pilar Project through systematic exploration, with plans for additional sampling, geophysical surveys, and ongoing drilling in the coming months. The Company continues to prioritize environmental stewardship and community engagement in all operations.
In addition, road work and preparations for trenching and drilling in the South Block continues as the Company prepares for the next phase of Pilot Production setup and testing.
Figure 1. Map of North Alteration Zone with Target Rankings defined by creating an Overall Composite Index of Au and Ag pathfinders. Target Rankings are based on: SPI (Silver‑Polymetallic Index): highlights Ag‑Pb‑Zn‑Sb‑As ± Cu/W/Mo halos typical of epithermal or polymetallic systems. GPI (Gold‑Pathfinder Index): emphasizes Au‑As‑Sb‑Pb‑Bi ± S associations common in Au systems. Overall composite index (shown on map): the mean of SPI and GPI percentiles, capturing samples that are strong in either system or both.
| Sample | Au (g/t) | Ag (g/t) | As (ppm) | Sb (ppm) | Pb (ppm) | Zn (ppm) |
| 334067 | 3.16 | 1225.0 | 1,845 | 2,350 | 200,000 | 34,200 |
| 334066 | 0.16 | 744.0 | 99 | 584 | 7,990 | 487 |
| 504602 | 0.04 | 134.0 | 35 | 38 | 3,050 | 223 |
| 494827 | 5.60 | 106.0 | 45 | 5 | 2,950 | 1,125 |
| 504600 | 0.04 | 69.4 | 122 | 34 | 2,740 | 3,060 |
| 504580 | 0.15 | 68.9 | 864 | 60 | 5,130 | 107 |
| 493320 | 0.11 | 63.4 | 72 | 624 | 4,430 | 167 |
| 493339 | 0.32 | 55.0 | 6 | 30 | 1,370 | 22 |
| 334064 | 0.02 | 44.7 | 20 | 19 | 23,500 | 41,000 |
| 334063 | 0.02 | 41.7 | 18 | 30 | 14,500 | 20,500 |
Table 1. Highlight results from surface sampling across the Northen Block to date. All samples are rock chips and channels over intervals ranging from 0.5m to 2m in length. Only 104 samples have been collected so far.
Figure 2. Cross-section of key target areas identified to date across the North Block of Gran Pilar. Two of the target areas have been part of recent drilling, with results pending. The two central target areas have recently been discovered and will be incorporated into the ongoing drill campaign.
SUMMARY OF FINDINGS
Au ranges from 0.0025 to 5.6 ppm, Ag from 0.25 to 1,225 ppm, indicating significant high-grade silver zones and moderate gold occurrences. Ag strongly correlates with Pb, Sb, Zn, As, Cu, suggesting a polymetallic vein or intermediate-sulfidation epithermal system. Au correlates with Ag, As, Sb, Pb, Bi, pointing to feeder zones with arsenopyrite/stibnite and sulfosalt associations.
Composite Target Indices:
SPI (Silver-Polymetallic Index) highlights Ag–Pb–Zn–Sb–As corridors;
GPI (Gold-Pathfinder Index) emphasizes Au–As–Sb–Pb–Bi halos;
Combined Overall Index ranks samples for integrated Au–Ag potential (top samples: 334067, 334066, 494827). The results of the Overall Index are highlighted in Figure 1.
Alteration Index:
Built from proxies for sericitization, chlorite-carbonate-pyrite, carbonate, argillic, and sulfidation trends.
High Alteration Index scores cluster with Ag-rich zones, supporting alteration-driven targeting.
Exploration Implication:
Focus drilling/trenching on structures where Ag–Pb–Zn–Sb–As and Au–As–Sb–Bi coincide with strong alteration signatures, as these could represent mineralized shoots and feeder zones.
100% CONTROLLED PRIORITY TARGETS FOR TRENCHING & DRILLING
1. South Block Main Zone Expansion
a. Follow-up on 2025 Drill Success
i. 19.4 g/t Au over 3.1 meters within 106.6 meters of 0.6 g/t Au (February 25, 2025 News Release)
ii. 5.4 g/t Au over 6.1 meters within 41.2 meters of 1.0 g/t Au (May 7, 2025 News Release)
iii. 136 g/t Ag over 10.7 meters within 42.7 meters of 41 g/t Ag (June 25, 2025 News Release)
2. South Block (November 12, 2024 News Release)
a. Placer Corridor (900-meter strike length)
i. Soil samples up to 21.2 g/t Au and >2,000 g/t
b. Placer Source Area
i. Soil samples up to 2.4 g/t Au and 22 g/t Ag
ii. Rock samples up to 7.3 g/t Au and 389 g/t Ag
3. North Block
a. North Alteration Zone (3.2 km by 1.5 km area)
i. 2-meter chip sample, 5.6 g/t Au and 106 g/t Ag (October 19, 2023 News Release)
ii. Historic mine working sample, 3.2 g/t Au and 1,225 g/t Ag (March 8, 2024 News Release)
Figure 3. Gran Pilar Project Overview, > 22km2 of prospective ground with two primary targets: South Block, the direct extension and expansion of the historic Main Zone defined by an expanding vein field of untested drill targets; North Block a 3.2-km by 1.5-km pyrite and clay alteration zone that coincides with high-grade gold-silver, the area remains largely untested
Gran Pilar Drill Highlights:
• 2025 Diamond Drilling Highlights include:
o 83.5m @ 1.3 g/t Au, including 9.7m @ 10.3 g/t Au (March 11, 2025 News Release)
o 97.4m @ 0.7 g/t Au, including 36.3m @ 1.6 g/t Au (March 19, 2025 News Release)
o 64.9m @ 1.2 g/t Au, including 3.0m @ 21.6 g/t Au and 209 g/t Ag (March 26, 2025 News Release)
o 46.9m @ 0.5 g/t Au, including 2.6m @ 7.2 g/t Au and 80 g/t Ag (April 16, 2025 News Release)
• 2025 RC Drilling Highlights include:
o 106.8m @ 0.6 g/t Au, including 3.1m @ 19.4 g/t Au (February 25, 2025 News Release)
o 41.2m @ 1.0 g/t Au, including 6.1m @ 5.4 g/t Au (May 7, 2025 News Release)
• 2024 RC Drilling Highlights include (all lengths are drilled thicknesses):
o 42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
o 56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au
o 16.8m @ 0.8 g/t Au and 19 g/t Ag
• 2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
o 116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
o 108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
o 63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
• 2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
o 39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
o 47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
o 29m @ 0.7 g/t Au
o 35.1m @ 0.7 g/t Au
• 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
o 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
o 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
o 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
• 15,000m of Historic Core & RC drilling. Highlights include:
o 61.0m @ 0.8 g/t Au
o 21.0m @ 38.3 g/t Au and 38 g/t Ag
o 13.0m @ 9.6 g/t Au
o 9.0m @ 10.2 g/t Au and 46 g/t Ag
Pilar Bulk Sample Summary:
• 62% Recovery of Gold Achieved Over 46-day Leaching Period
• Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
• Bulk Sample Only Included Coarse Fraction of Material (+3/4” to +1/8”)
• Fine Fraction (-1/8”) Indicates Rapid Recovery with Agitated Leach
o Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
• Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
o 95 to 99% Recovery of Gold
o 73 to 97% Recovery of Silver
o Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
About Tocvan Ventures Corp.
Tocvan Ventures Corp. is a dynamic exploration and near-term producer advancing high-potential gold and silver projects in the mine-friendly jurisdiction of Sonora, Mexico. At its flagship Gran Pilar Gold-Silver Project, Tocvan holds a 100% interest in over 21 km² of prospective ground, bolstered by the pivotal 2023 land acquisition that provides ample space for scalable mine infrastructure, including a planned 50,000-tonne pilot production facility. The Company also maintains a 51% interest in a 1 km² joint venture area with Colibri Resources, further expanding its footprint. Recent exploration successes, including near surface 3.1 meters at 19.4 g/t Au, underscore Gran Pilar’s potential as a premier gold-silver asset. Additionally, Tocvan’s 100% owned Picacho Gold-Silver Project, located in the prolific Caborca Trend—home to some of Mexico’s largest gold deposits—positions the Company for further growth. With robust metallurgical results (up to 99% gold and 97% silver recovery) and a strategic capital to bolster growth, Tocvan is poised to deliver significant shareholder value in a market buoyed by record-high gold prices. With approximately 66 million shares outstanding, Tocvan is committed to unlocking the full potential of its assets through innovative exploration, strategic development, and investor-focused initiatives.
Quality Assurance / Quality Control
Rock and Drill samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s robust quality assurance / quality control protocol.
Soil Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold and multi-element analysis of soils was completed by aqua regia digestion and ICP-MS finish using a 50-gram nominal weight. Over limit gold values greater than 1 g/t were re-assayed with a more robust aqua regia digestion ad ICP-MS finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising blank samples and certified reference materials were systematically inserted into the sample stream and analyzed as part of the Company’s robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person (“QP“) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release 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.
FOR MORE INFORMATION, PLEASE CONTACT:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
1150, 707 – 7 Ave SW
Calgary, Alberta T2P 3H6
Telephone: 1 888 772 2452
Email: [email protected]
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