Tocvan appoints Sutherland as president, CEO

Jan 14, 2022

2022-01-14 07:09 ET – News Release

Mr. Brodie Sutherland reports

TOCVAN ANNOUNCES CHANGE TO EXECUTIVE MANAGEMENT TEAM, TRANSITIONS LEADERSHIP TOWARDS DEVELOPMENT FOCUS

Tocvan Ventures Corp. has made strategic changes to executive management as it pro-actively looks toward the advancement of its core gold-silver assets in Sonora, Mexico. Brodie A. Sutherland, vice-president, exploration, will replace co-founder Derek A. Wood as president, chief executive officer and corporate secretary. Mr. Wood will remain a director and strategic adviser of the company. The changes will better align with technical and professional expertise required as projects advance toward development.

“On behalf of the company we would like to thank Derek for his hard work and dedication to Tocvan from inception,” commented Mr. Sutherland. “Derek will remain an important adviser to the board while our focus remains on the advancement of our two quality gold-silver assets in Sonora, Mexico.”

Website update

The company also announces its new website has gone live. The company thanks its shareholders for their patience while updates were made.

AGM (annual general meeting) update

The company has postponed the scheduled AGM to a later date due to the COVID-19 global pandemic and resulting delays obtaining court and shareholder approval of the Cascade Copper spinout transaction. The company will provide a further update once a final date for the meeting can be set.

About the Sonora portfolio

Pilar property

The Pilar gold-silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks.

Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling and are referred to as the Main zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend of mineralization. Over 22,700 metres of drilling have been completed to date. Significant results are highlighted below:

2021 phase 2 reverse circulation drilling highlights include (all lengths are drilled thicknesses):
- 39.7 m at 0.96 g/t Au, including 1.5 m at 14.6 g/t Au;
- 47.7 m at 0.75 g/t Au, including three m at 5.6 g/t Au and 22 g/t Ag;
- 29 m at 0.71 g/t Au; 35.1 m at 0.66 g/t Au;
2020 phase 1 RC drilling highlights include (all lengths are drilled thicknesses):
- 94.6 m at 1.6 g/t Au, including 9.2 m at 10.8 g/t Au and 38 g/t Ag;
- 41.2 m at 1.1 g/t Au, including 3.1 m at 6.0 g/t Au and 12 g/t Ag;
- 24.4 m at 2.5 g/t Au and 73 g/t Ag, including 1.5 m at 33.4 g/t Au and 1,090 g/t Ag;
17,700 m of historic core RC drilling; highlights include:
- 61.0 m at 0.8 g/t Au;
- 16.5 m at 53.5 g/t Au and 53 g/t Ag;
- 13.0 m at 9.6 g/t Au;
- 9.0 m at 10.2 g/t Au and 46 g/t Ag.

Soil and rock sampling results from undrilled areas indicate mineralization extends toward the southeast from the Main zone and 4-Trench zone. Recent surface exploration has defined three new target areas: Triple Vein zone, SE Vein zone and 4-Trench extension.

El Picacho property

The El Picacho gold-silver property is interpreted as a orogenic gold system within the regional Caborca orogenic gold belt known for producing gold mines that include La Herradura and San Francisco. The project is 140 kilometres north of Hermosillo and totals 2,414 hectares.

Five primary zones of mineralization have been identified across the property totalling over six kilometres of prospective trends. Surface sampling has identified high-grade gold and silver values. The five primary target areas are summarized below:

San Ramon:
- 1.4 km prospective trend;
- Several historic mine workings associated with low-angle faults;
- Historic drill highlights (both were reconnaissance holes with no follow-up):
  - Drill hole PD-01 — 7.6 m at 0.73 g/t Au, including 3.0 m at 1.37 g/t Au;
  - Drill hole RCP-02 — 10.7 m at 0.67 g/t Au, including 4.6 m at 1.4 g/t Au;
- Rock sampling highlights:
  - 22 g/t Au and 22 g/t Ag;
  - 16 g/t Au and 26 g/t Ag;
  - 14 g/t Au and 83 g/t Ag;
Cornea:
- 2.3 km prospective trend;
- Historic mine workings up to 30 metres deep along shear zones;
- Rock sampling highlights:
  - 26 g/t Au and 340 g/t Ag;
  - 15 g/t Au and 66 g/t Ag;
  - 15 g/t Au and 29 g/t Ag;
Jabali:
- 0.5 km prospective trend;
- Historic mine workings among low-angle thrust faults;
- Rock sampling highlights:
  - 32 g/t Au;
  - 28 g/t Au and 10 g/t Ag;
El Puerto:
- 1.2 km prospective trend;
- Historic mine workings along vertical shear zones hosted within a banded gneiss;
- Rock sampling highlights:
  - Eight g/t Au and 10 g/t Ag;
  - 6.5 g/t Au and 176 g/t Ag;
Tortuga:
- 1.0 km prospective trend;
- Historic mine workings in Jurassic metasediments surrounded by mineralized biotite gneiss;
- Rock chip sampling highlights:
  - Two m at 4.4 g/t Au and 46 g/t Ag.

Mr. Sutherland, a qualified person (QP) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector by identifying and negotiating interest in opportunities where management feels it can build upon previous success. Tocvan currently has approximately 28 million shares outstanding and is earning into two exciting opportunities: the Pilar gold-silver project in Sonora, Mexico, and the Rogers Creek copper project in Southern British Columbia. Management feels both projects represent tremendous opportunity to create shareholder value.

We seek Safe Harbor.

https://tocvan.com/