Tocvan Announces Bulk Sample Material Averaging Grades of 1.9 g/t Gold and 13 g/t Silver

Leaching Process Underway for Bulk Sample

Highlights

• Consistent Gold Values Reported from Bulk Sample Improve Grade
  • 148 samples range between 0.8 and 3.4 g/t Au, weighted mean of 1.85 g/t Au
  • Silver values range between 5 and 26 g/t Ag, weighted mean of 12.7 g/t Ag
• Fine Fraction Samples (excluded from Heap Leach Process), Report Equal Gold and Silver Values
  • 32 Samples range between 1.2 and 2.8 g/t Au, weighted mean of 2.02 g/t Au
  • Silver values range between 9 and 25 g/t Au, weighted mean of 15.6 g/t Ag
• Leaching Process Underway for Bulk Sample

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CALGARY, AB / ACCESSWIRE / May 16, 2023 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide an update and sampling results from a Bulk Sample being completed at its Pilar gold-silver project in Sonora, Mexico. Sampling of duplicate material collected at regular intervals during crushing/screening process from the Bulk Sample have returned consistent gold and silver values. In total, 148 samples were collected averaging 1.87 g/t Au and 13 g/t Ag (see Table 1 for full results). The first batch of 32 samples (111 samples pending) were collected from the fine fraction of screened material not included in the heap leach pile, are showing slightly higher grades of gold and silver, averaging 2.02 g/t Au and 15.6 g/t Ag (see Table 2 for full results). The fine fraction along with additional bulk sample material will be used in testing gravity recovery methods. Samples were submitted to ALS Hermosillo for fire assay and ICP analysis. Blanks and standards were submitted into the sample stream as part of the Company's robust QA/QC protocol The samples total 910.7 kg of crush reject material from the Bulk Sample collected for heap leach testing. The heap leach process is currently underway for the Bulk Sample. Over 800 tonnes of Bulk Sample material have been prepared for heap leach processing, an additional 350 tonnes of crushed material and 250 tonnes of raw-bulk sample are available for gravity recovery and later agitated leach testing as recommended by an independent report provided by LTM.

"Pilar continues to surprise with excellent gold and silver values." stated Brodie Sutherland, CEO. "The results are clearly indicating the average grade of material making up the Bulk Sample are well above our expectations for gold and silver. To see this represented in the data gives us added confidence that Pilar can be advanced towards production, especially with these impressive grades. We eagerly await the results from heap leaching and further evaluation of gravity recovery methods."

Photo 1 & 2. Bulk Sample heap leach pile during irrigation setup.

Table 1. Summary of results from Bulk Sample Duplicate Sampling.