Tocvan Announces Discovery of New Target with Historic Underground Workings in North Alteration Zone at Gran Pilar Gold-Silver Project

Rhea-AI Summary

Tocvan (OTCQB:TCVNF) announced discovery of a new mineralized target with historic underground workings in the North Alteration Zone at the Gran Pilar project, expanding a 3.2 km by 1.5 km alteration footprint. An 80‑metre exposed section of silicified vein breccia and waste piles was identified; initial surface samples returned up to 5.6 g/t Au and 106 g/t Ag over 2 m, with additional channel and grab assays pending. The company plans trenching, detailed mapping and drilling on 100% controlled ground and holds full permits for a 50,000‑tonne heap leach facility.

Positive

• New target inside a 3.2 km North Alteration Zone
• 80 m exposed historic underground workings identified
• Peak surface sample of 5.6 g/t Au and 106 g/t Ag
• Full permits secured for 50,000‑tonne heap leach facility

Negative

• North Alteration Zone remains largely undrilled and untested
• Channel and grab assay results are still pending
• Pilar bulk sample extracted grade 1.2 g/t Au (head 1.9 g/t Au)

CALGARY, AB / ACCESS Newswire / October 9, 2025 / Tocvan Ventures Corp. ("Tocvan" or the "Company") (CSE:TOC)(OTCQB:TCVNF)(WKN:TV3/A2PE64), a leading exploration and near-term producer focused on gold and silver projects in Sonora, Mexico, is excited to report the discovery of a new mineralized zone featuring historic underground workings within the expansive North Alteration Zone at its flagship Gran Pilar Gold-Silver Project in Sonora, Mexico. This finding expands the known mineralized footprint and highlights significant potential for high-grade gold and silver resources.

Highlights:

• New Target Identified in the middle of the North Alteration Zone, a 3.2-kilometer-long zone of extensive alteration

• 80-meter exposed section of historic underground workings and waste piles of silicified vein breccia material. Intense phyllic and argillic alteration.

• Channel and grab samples collected, results pending.

• 800-meters southwest from permitted drill target (3.2 g/t Au and 1,225 g/t Ag)

• 1,100-meters northeast from permitted drill target (2-meter chip sample of 5.6 g/t Au and 106 g/t Ag)

The newly identified zone, delineated through recent surface mapping and rock-chip sampling trends northwest and aligns with alteration patterns observed across the 3.2 km by 1.5 km North Alteration Zone. Historic underground workings, including adits and shafts dating back decades, confirm early mining activity and provide direct evidence of vein breccia hosted mineralization. Within the North Alteration Zone. Initial sampling from exposed outcrops in the area returned encouraging results, including peak values of up to 5.6 g/t Au and 106 g/t Ag over 2 meters, with broader intervals showing consistent anomalous gold and silver.

"This discovery marks a pivotal step in unlocking the full potential of the North Alteration Zone, which remains largely undrilled and underexplored," said Brodie Sutherland, CEO of Tocvan Ventures. "The presence of historic workings in this 2-kilometer corridor underscores the area's prospectivity and ties directly into our ongoing expansion strategy. We're prioritizing drill targets here to chase high-grade extensions and build on our recent success across Gran Pilar."

The North Alteration Zone, part of the broader Greater Pilar system, exhibits epithermal alteration characteristics typical of major gold-silver deposits in the region. This zone lies 5-kilometers north of the Main Zone, where Tocvan has previously reported significant drill intercepts, including 94.6 meters of 1.6 g/t Au. The Company plans follow-up trenching, detailed mapping, and drilling to further define the zone's extent and grade.

Gran Pilar spans over 22 square kilometers and hosts multiple mineralized trends, with recent drone magnetic surveys revealing structural complexities that correlate with surface geochemistry in the South Block. Tocvan continues to advance toward pilot mine production, with full permits secured for a 50,000-tonne heap leach facility.

Figure 1. Map of North Alteration Zone with key target areas within alteration footprint.

Plate 1. Photos across the North Alteration Zone. Upper, Tocvan team at NAZ drill target. Lower left, vein breccia with bands of arsenopyrite and pyrite. Lower right, historic underground working with intense silica alteration, pyrite and arsenopyrite, channel samples pending

The Company is currently processing the full magnetic dataset as additional data is acquired for the North Block and integrating it with existing geophysical, geological, and geochemical information to prioritize drill targets. Surface sampling is underway, with drilling and trenching expected to commence shortly. Tocvan remains committed to a systematic approach to exploration, leveraging advanced technologies to minimize environmental impact while maximizing discovery potential.

Tocvan remains well-positioned with a strong balance sheet and a dedicated team of local experts to execute this program efficiently. Work planned will be conducted on 100% controlled ground. The Company will provide updates as results become available.

100% CONTROLLED PRIORITY TARGETS FOR TRENCHING & DRILLING

1. South Block Main Zone Expansion

   1. Follow-up on 2025 Drill Success

      1. 19.4 g/t Au over 3.1 meters within 106.6 meters of 0.6 g/t Au (February 25, 2025 News Release)

      2. 5.4 g/t Au over 6.1 meters within 41.2 meters of 1.0 g/t Au (May 7, 2025 News Release)

      3. 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)

   1. Placer Corridor (900-meter strike length)

      1. Soil samples up to 21.2 g/t Au and >2,000 g/t

   2. Placer Source Area

      1. Soil samples up to 2.4 g/t Au and 22 g/t Ag

      2. Rock samples up to 7.3 g/t Au and 389 g/t Ag

3. North Block

   1. North Alteration Zone (3.2 km by 1.5 km area)

      1. 2-meter chip sample, 5.6 g/t Au and 106 g/t Ag (October 19, 2023 News Release)

      2. Historic mine working sample, 3.2 g/t Au and 1,225 g/t Ag (March 8, 2024 News Release)

Figure 2. 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:

  • 83.5m @ 1.3 g/t Au, including 9.7m @ 10.3 g/t Au (March 11, 2025 News Release)

  • 97.4m @ 0.7 g/t Au, including 36.3m @ 1.6 g/t Au (March 19, 2025 News Release)

  • 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)

  • 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:

  • 106.8m @ 0.6 g/t Au, including 3.1m @ 19.4 g/t Au (February 25, 2025 News Release)

  • 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):

  • 42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au

  • 56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au

  • 16.8m @ 0.8 g/t Au and 19 g/t Ag

• 2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):

  • 116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag

  • 108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag

  • 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):

  • 39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au

  • 47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag

  • 29m @ 0.7 g/t Au

  • 35.1m @ 0.7 g/t Au

• 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):

  • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;

  • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;

  • 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:

  • 61.0m @ 0.8 g/t Au

  • 21.0m @ 38.3 g/t Au and 38 g/t Ag

  • 13.0m @ 9.6 g/t Au

  • 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

  • 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

  • 95 to 99% Recovery of Gold

  • 73 to 97% Recovery of Silver

  • 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 64 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: ir@tocvan.ca

STAY CONNECTED:

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Web: tocvan.com

SOURCE: Tocvan Ventures Corp

View the original press release on ACCESS Newswire

FAQ

What did Tocvan (TCVNF) discover at Gran Pilar on October 9, 2025?

Tocvan reported a new mineralized target with historic underground workings in the North Alteration Zone and surface samples up to 5.6 g/t Au and 106 g/t Ag.

How large is the North Alteration Zone at Gran Pilar and how close is the new target?

The North Alteration Zone covers about 3.2 km by 1.5 km; the new target lies within that footprint with an 80‑metre exposed section of workings.

Are there permits in place for near‑term production at Gran Pilar (TCVNF)?

Yes. Tocvan holds full permits for a 50,000‑tonne heap leach facility on site.

Will Tocvan drill the newly identified North Alteration Zone (TCVNF)?

The company plans follow‑up trenching, detailed mapping and drilling on 100% controlled ground to prioritize targets.

What assay results are pending from the October 2025 discovery at Gran Pilar?

Channel and grab sample assay results from the exposed vein breccia and historic workings are pending laboratory reporting.

What recent drill or sampling highlights support Gran Pilar's prospectivity for Tocvan (TCVNF)?

Recent highlights include historical and 2025 intercepts such as 94.6 m @ 1.6 g/t Au and RC results like 19.4 g/t Au over 3.1 m cited in company releases.