Mr. Brodie Sutherland reports

TOCVAN DRILLS BIGGEST INTERSECT OUTSIDE OF MAIN ZONE TO DATE RETURNS 56.4 METERS OF 1.0 G/T GOLD NEAR SURFACE, INCLUDING 9.2 METERS OF 5.3 G/T GOLD

Tocvan Ventures Corp. has released first drill results from its 2024 reverse circulation (RC) drill program at its road-accessible Pilar gold-silver project in mine-friendly Sonora, Mexico. A total of 1,825.4 metres have been drilled to date in 15 drill holes.

Results today are highlighted by drill hole JES-24-77 which returned 56.4 metres of one gram per tonne Au from 18.3 metres vertical depth, including 9.2 metres of 5.3 g/t Au. The entire length of the hole returned anomalous gold values averaging 76.3 metres of 0.8 g/t Au. A high-grade centre to the mineralized zone returned 5.3 g/t Au and 3 g/t Ag over 9.2 metres, including 1.5 metres of 26.7 g/t Au. Like the Main zone, the 4-T trend is exposed at surface along a rounded ridge top, allowing the potential for a low strip ratio during early development. The hole tested near-surface mineralization and was stopped at 76.3 metres, mineralization at 4-T remains open at depth.

Results for 11 drill holes are currently pending analysis, including holes farther northwest, along the 4-T trend.

"We are extremely excited with the results today highlighting the additional resource potential that exists along the several parallel trends to the main zone which we believe can be tied together into a sizable area," commented Brodie Sutherland, chief executive officer. "Today's results are the best from the 4-T trend to date and rank as a top five drill intersect in Tocvan's history of drilling at Pilar. Gold mineralization intersected in hole JES-24-77 is close to surface, projecting to workings exposed along a low rolling ridgeline much like the Main zone. This allows for low strip ratio potential in future mine development, reducing costs for extraction. We are confident the 4-T trend will continue to develop into another key resource area for Pilar, being just 400 metres from the heart of our Main zone. Part of our bulk sample was extracted from 4-T adding to that confidence of resource viability. More results from the trend are pending. As for our exploration drill targets, it is still early in testing these areas and the data available suggests more work is needed to fully evaluate and target mineralization. Surface mapping and geochemistry strongly suggests the known trends extend to the southeast and northwest, while new trends have yet to be tested. Recent sampling across the expansion area supports this thesis, indicating much more is to be uncovered."

In addition, three exploration holes on the southeastern flanks of known mineralization (JES-24-74, 75 and 76) are also included in this release, testing known areas of significant surface mineralization. Although anomalous intervals were encountered, no significant mineralization has been recorded yet.

Discussion of results

JES-24-77

The drill hole targeted near-surface mineralization vertically below the 4-T prospect. The prospect gets its name from four trenches completed historically across a known area of artisanal underground workings. The prospect was first drilled in 1996 by Santa Catalina, a Lundin company evaluating Pilar. First drilling hit 7.5 metres of 3.3 g/t Au and 31 g/t Ag in drill hole K-16 (hole was stopped at 7.5 m). Follow-up drilling over 15 years later by a private operator returned 30.5 metres of 0.7 g/t Au (JESP-18). In 2021, Tocvan drilled 15.3 metres of 1.1 g/t Au along the same ridgeline 300 metres to the northwest. The result released today from JES-24-77 is the most significant result along the 4-T trend drilled to date and ranks as the fifth best drill result ever from the over 60 drill holes Tocvan has completed thus far at Pilar. JES-24-77 was a vertical drill hole testing the down-dip projection of surface mineralization, successfully intersecting several zones of low-grade gold and silver and one high-grade zone. Follow-up work is to be completed along this developing trend.

Exploration drill results

Drill holes JES-24-74 and 75 tested an area southeast of the Main zone where local surface mineralization hosted along structures and veins had returned 5.1 g/t Au and 24 g/t Ag. Although no significant mineralization was recorded in these holes, anomalous values of silver warrant further investigation. Drill hole JES-24-76 tested the southernmost flank of the 4-T trend, alteration and veining were recorded in logging although no significant mineralization was recorded.

About the Pilar property

The Pilar gold-silver property has returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend of mineralization. Mineralization extends along a 1.2-kilometre trend, only half of that trend has been drill tested so far. The company has now expanded its interest in the area by consolidating 22 square kilometres of highly prospective ground where it has already made significant surface discoveries.

Pilar drill highlights:

2022 phase III diamond drilling highlights include (all lengths are drilled thicknesses):

• 116.9 m at 1.2 g/t Au, including 10.2 m at 12 g/t Au and 23 g/t Ag;
• 108.9 m at 0.8 g/t Au, including 9.4 m at 7.6 g/t Au and five g/t Ag
• 63.4 m at 0.6 g/t Au and 11 g/t Ag, including 29.9 m at 0.9 g/t Au and 18 g/t Ag.

2021 phase II RC drilling highlights include (all lengths are drilled thicknesses):

• 39.7 m at one g/t Au, including 1.5 m at 14.6 g/t Au;
• 47.7 m at 0.7 g/t Au, including three m at 5.6 g/t Au and 22 g/t Ag;
• 29 m at 0.7 g/t Au;
• 35.1m at 0.7 g/t Au.

2020 phase I 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 six 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.

15,000 m of historic core and RC drilling -- highlights include:

• 21 m at 38.3 g/t Au and 38 g/t Ag;
• 13 m at 9.6 g/t Au;
• Nine m at 10.2 g/t Au and 46 g/t Ag;
• 61 m at 0.8 g/t Au.

Pilar bulk sample summary:

• 62-per-cent recovery of gold achieved over 46-day leaching period;
• Head grade calculated at 1.9 g/t Au and seven g/t Ag; extracted grade calculated at 1.2 g/t Au and three g/t Ag;
• Bulk sample only included coarse fraction of material (three-quarter-inch to one-eighth-inch);
• Fine fraction (negative-one-eighth-inch) indicates rapid recovery with agitated leach:
  • Agitated bottle roll test returned rapid and high recovery results: 80-per-cent recovery of gold and 94-per-cent 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-per-cent recovery of gold;
  • 73- to 97-per-cent recovery of silver;
  • Includes the recovery of 99 per cent Au and 73 per cent Ag from drill core composite at 120-metre depth.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration and 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 has approximately 51 million shares outstanding and is earning into two exciting opportunities in Sonora, Mexico. The company has consolidated an attractive land position at its Pilar gold-silver project where it holds 100-per-cent interests in over 21 square kilometres of prospective area and a majority ownership (51 per cent) in a one-square-kilometre area shared with Colibri Resources. The company also holds a 100-per-cent interest in the Picacho gold-silver project in the Caborca trend of northern Sonora, a trend host to some of the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.

Quality assurance/quality control

RC samples were shipped for sample preparation to ALS Ltd. 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. Overlimits for gold (greater than 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 inductively coupled plasma finish. Overlimit analyses for silver (greater than 100 g/t) were reassayed using an ore-grade four-acid digestion with inductively coupled plasma atomic emission spectroscopy 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.

Mr. Sutherland, CEO for Tocvan Ventures and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

We seek Safe Harbor.