Tocvan pours dore bar of Au, Ag from Pilar sample

Dec 1, 2023

2023-11-30 16:55 ET – News Release

Mr. Brodie Sutherland reports

TOCVAN POURS FIRST DORE BAR FROM PILAR BULK SAMPLE

Tocvan Ventures Corp. has poured the first dore bar of gold and silver from bulk sample material processed at its Pilar gold-silver project in Sonora, Mexico. The bar weighs 1.487 kilograms in total, with assays from local certified laboratory LTM returning 18% of gold and 69% of silver. The bar was processed at a local facility under the supervision of Company staff. Carbon material used to absorb gold and silver during the heap leach bulk test was processed to extract the precious metals. Results are pending to determine the other metals present in the dore bar and to quantify the remaining gold and silver present in the carbon material. Remaining gold and silver in the carbon and will be processed shortly during a second dore bar pour. During the bulk sample 700 tonnes of material were crushed and processed through heap leach, returning a 1.9 g/t Au head grade and gold recovery of 62%. An additional 700 tonnes of bulk sample material are available for follow on testing of alternative recovery methods including, gravity with agitated leach. Preliminary agitated leach studies have shown rapid recovery of gold of up to 81% (see news release August 22, 2023). Gravity with later agitated leach studies have shown recoveries over 95% for gold (see news release April 11, 2023).

“Recovering gold and silver is an important step towards full-scale production and the first of many ounces to be produced from Pilar.” stated Brodie Sutherland, CEO. “Pilar has returned high head grade, well above the average of open pit mines in the region. The recoveries are also consistent with local operations, with the advantage at Pilar for even higher recovery through gravity and agitated leach methods. More gold and silver are yet to be extracted from the material in hand while we continue to advance our near-term permitting initiatives towards mine development. In addition, we are extremely excited to bring on The Howard Group as a key advisor to both capital markets and corporate communications as we look to broaden our outreach to current and prospective investors.”

The Company is also pleased to announce it has engaged The Howard Group Inc. as its Capital Markets and Corporate Digital Communications advisor. The Howard Group will direct both traditional and online initiatives with a special emphasis on connecting the Company to retail investing communities and select members of numerous investment and institutional organizations.

The Company entered into an investor relations engagement agreement (the “Agreement”) with The Howard Group dated December 1, 2023 (the “Effective Date”) subject to approval of the Canadian Securities Exchange (CSE), whereby the Company has agreed to engage The Howard Group for a term of twelve months with a six-month renewal feature. Under the Agreement, the Company will pay $10,000 a month and grant the following stock options to The Howard Group under the Company’s incentive stock option plan: (i) 200,000 stock options granted within 15 days of the date of the Agreement with an exercise price of $0.45 per share vesting 25% every 3 months and expiring 3 years after the date of grant; and (ii) 100,000 stock options granted upon first renewal at six months, and the stock options shall have an exercise price equal to the applicable market price pursuant to the policies of the Canadian Securities Exchange, vesting 25% every 3 months and expiring 3 years after the date of grant.

“Tocvan is an extremely interesting opportunity,” commented Grant Howard, President of The Howard Group. “We feel the investing and investment communities will find the story particularly appealing. It sits in the heart of gold country in Sonora, Mexico, has dramatically expanded its 100% Pilar Gold & Silver project and there are multiple high-grade assay results. Tocvan management is focused on the company becoming a near-term producer.”

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 they can build upon previous success. Tocvan has approximately 41.7 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.

Brodie A. Sutherland, P.Geo., 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.

We seek Safe Harbor.

https://tocvan.com/