Initial drill program underway at the El Picacho gold-silver project

(via TheNewswire)

highlights

• Initial drill program underway at El Picachoin the Caborca ​​​​Gold Trend, 18 km away San Francisco mine

• Initial drilling at San Ramon target area, initial target area 500 by 500 meters

• Two main target areas of high grade gold mineralization:

  • Las Guijas – Underground working, chip samples range from 0.5 to 8.2 g/t Au, averaging 3.6 g/t Au

  • San Ramon 90 meter underground drift, chip samples range from 0.3 to 22 g/t Au, averaging 5.0 g/t Au

• Currently allowed for 14 drill plates at San Ramon

Calgary, Alberta –TheNewswire –November 17, 2022 – Tocvan Ventures Corp.(the “Company”) (CSE:TOC);(OTC:TCVNF);(BFS:TV3),is pleased to announce that drilling is underway at it El Picacho Gold-Silver Project in Sonoran, Mexico. Initial drilling will focus on two main areas within the San Ramon Prospect, Las Guijas and San Ramon. Both targets have returned high-grade gold mineralization with silver mineralization associated with historical mine workings. In 2012, three reconnaissance RC holes were completed Timmin’s Gold. All three holes intersected low-grade mineralization and alteration associated with multiple shear zones, reducing the risk of continued mineralization at depth. The high grade corridors associated with the old mine workings have never been targeted. The Company plans to connect the low-grade mineralization identified by historic drilling with high-grade mineralization that has been drilled from the workings through targeted drilling. Analysis and interpretation of this data is used to plan follow-up drilling. El Picacho hosts several other permissive drill target areas extending over 24 km2project area.

“We are very much looking forward to drilling El Picacho where there is no shortage of drill targets to assess the potential of this highly prospective area,”specified Brodie SutherlandCHAIRMAN. “San Ramon has long been our priority target as the established historical workings have identified high grade structures with the potential for low grade mineralization in between. There are many parallels to the local San Francisco mine which was discovered due to very similar surface characteristics and considerable craftsmanship. We look forward to evaluating these results as we begin to unleash the potential of El Picacho.”

Click below to hear CEO, Brodie Sutherland Explain more:

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Illustration 1. El Picacho ProjectTarget Map San Ramon Prospecting.

About the El Picacho property

The El Picacho gold-silver property is interpreted as an orogenic gold system within the Caborca ​​regional orogenic gold belt known for producing gold mines, including La Herradura (>10 Moz Au) and san francisco (>3 Moz Au). The project is 140 kilometers north of Hermosillo and only 18 kilometers southwest of production San Francisco mine. The project covers a total of 24 square kilometers. Five primary zones of mineralization totaling over six kilometers of prospective trends have been identified across the property. Surface sampling and historical work have identified high-grade gold and silver values. The project has only conducted widely spaced reconnaissance drilling with no follow-up. Tocvan believes this presents an excellent opportunity for the discovery of a multi-million ounce prospect.

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Figure 2. Outline map of the El Picacho Gold-Silver Project.

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Figure 3. Schematic cross-section of the El Picacho exploration model.

Pit of San Francisco Outline shown for size reference only

About the Pilar property

That Pilar Gold Silver The property has recently returned some of the best drill results in the region. Coupled with encouraging gold and silver recoveries from metallurgical testwork, Pilar is well positioned to be a potential producer in the near term. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Three primary zones of mineralization have been identified in the northwestern portion of the property through historical surface work and drilling and are referred to as the main zoneNorth Hill and 4-T. The main zone and 4-T trends are open to the southeast and new parallel zones have recently been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. The mineralization extends along a 1.2km trend, only half of this trend has been drill tested to date. Over 22,000 meters of drilling has been completed to date.

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

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

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

  • 63.4m @ 0.6g/t Au and 11g/t Ag including 29.9m @ 0.9g/t Au and 18g/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 @ 0.7g/t Au including 3m @ 5.6g/t Au and 22g/t Ag

  • 29m at 0.7g/t Au

  • 35.1m at 0.7g/t Au

• 2020 Phase I RC drillinghighlights are (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 at 1.1 g/t Au, including 3.1m at 6.0 g/t Au and 12 g/t Ag;

  • 24.4m @ 2.5g/t Au and 73g/t Ag including 1.5m @ 33.4g/t Au and 1090g/t Ag

• 15,000m of historic core RC drilling. Highlights include:

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Figure 3. Map of Sonoran, Mexico with the location of Tocvan’s projects relative to other large ones sonoran projects

Around Tocvan Ventures Corp.

Tocvan is a well structured exploration development company. Tocvan was formed to capitalize on the ongoing downturn in the junior mining exploration sector by identifying and negotiating interest in opportunities where management believes it can build on previous successes. Tocvan has approximately 37 million shares outstanding and is earning 100% on two exciting opportunities in Sonoran, Mexico: the Pilar Gold-Silver Project and the El Picacho Gold-Silver Project. Management believes both projects represent a tremendous opportunity to create shareholder value.

Brodie A Sutherland, P.Geo., Managing Director 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 news release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking information,” which may include, among other things, statements regarding activities, events or developments that the Company expects or anticipates or may occur in the future. Forward-looking information in this press 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”, “planned”, “estimates”, “forecasts”. , “intend,” “anticipate,” or “believe,” or variations (including negative variations) of such words and phrases, or state that particular actions, events, or results “may,” “could,” “would,” “could,” or ” will” be met, 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 views as to the direction of our business. Management believes these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information . These factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s early stages of development and the Company’s financial condition. The forward-looking statements contained herein are made as of the date of this press 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 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 SutherlandCHAIRMAN

820-1130 West Pender St.

Vancouver, BC V6E 4A4

Telephone: 1.888.772.2452

E-mail:ir@tocvan.ca

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