Tocvan Builds Momentum at Gran Pilar: Six Exploration Holes Drilled, Drone Mag Survey and Water Monitoring Wells for Pilot Completed

Executive Summary

• Tocvan Ventures reported completion of six RC exploration holes across four new high‑priority targets in the South Block of its Gran Pilar Gold‑Silver Project.
• The company finished a high‑resolution drone magnetic survey and installed two water‑monitoring wells to support environmental baseline work for the upcoming pilot mine.
• Capital from the recently closed $10 million bought‑deal financing is being allocated to continue drilling (20,000 m planned this year), pilot‑mine construction, and infrastructure development.

Key Details

• Drilling Progress: Six reverse‑circulation holes drilled to planned depths in four new target areas of the South Block; samples submitted for assay.
• Geophysical Work: Completed a high‑resolution drone magnetic survey over principal target zones; data being integrated with surface geochemistry and structural mapping.
• Environmental Monitoring: Two water monitoring wells installed as part of baseline program for pilot‑mine permitting.
• Capital Deployment: $10 million bought‑deal financing proceeds earmarked for:
• Ongoing South Block drill campaign (target ≥20,000 m in 2026)
• Restart of North Block drilling
• Site infrastructure for a 50,000‑tonne pilot production facility
• Preparatory work for pilot‑scale mining and processing later in the year
• Future Drilling Plans: Minimum 20,000 m of drilling planned at Gran Pilar in 2026 plus an additional 6,000 m at the El Picacho project.
• Historical Highlights (for context):
• 19.4 g/t Au over 3.1 m (Feb 25 2025) – South Block Main Zone expansion
• 5.4 g/t Au over 6.1 m (May 7 2025) – South Block
• 136 g/t Ag over 10.7 m (June 25 2025) – South Block
• Multiple diamond and RC drill intercepts from 2020‑2025 ranging up to >100 g/t Au/Ag in historic core holes.
• Metallurgical Results (summary): Bulk sample testing showed 62 % gold recovery over a 46‑day leach; agitated bottle roll tests returned 80 % Au and 94 % Ag recovery after 24 h. Additional gravity‑leach work demonstrated 95‑99 % Au and 73‑97 % Ag recoveries on composite samples.
• Quote: “This is excellent operational momentum… completing six holes across four new targets in such a short time highlights the team’s execution capability…” – Brodie Sutherland, CEO.

Notable Quotes

“We are eager to receive assay results from these first holes and to keep the drill turning as we unlock the potential of the South Block.” – Brodie Sutherland, CEO

Materiality Assessment: Non‑Material – Positive (operational progress update without immediate financial impact).