Mr. Brodie Sutherland reports

TOCVAN BEGINS TRENCHING MATERIAL FOR THE PILOT MINE AND PUSHES AHEAD WITH INFRASTRUCTURE DEVELOPMENT

Tocvan Ventures Corp. has started sampling for pilot mine feed at its Gran Pilar project (South block). The company has also received local community council approval for pilot mine development. This framework builds on Tocvan's commitment to responsible mining practices and complies with Mexican regulations requiring active involvement of local communities. Clearing and levelling for the heap-leach pile and containment ponds have started. These milestones support the continuing development of the company's fully permitted 50,000-tonne pilot mine facility, ensuring sustainable operations and mutual benefits for stakeholders.

Highlights:

• Pilot mine advancement: Tocvan has begun trenching material for pilot mine feed at the Gran Pilar South block, secured local community approval, and initiated site preparation, including clearing for heap-leach pad and containment ponds to support the fully permitted 50,000-tonne facility.
• Infrastructure and exploration progress: Dozer cuts for channel sampling and ground levelling for processing equipment and access roads are under way, aligning with recent positive surface sampling and continuing maiden drilling in the North block, which shows encouraging gold and silver potential.
• Pending results: First results for maiden drilling in the North block are expected to be available early in the new year. Sampling of new road and outcrop exposed across the North and South blocks is continuing.

"We are thrilled to have solidified this partnership with our neighbouring communities, which reflects our dedication to building lasting relationships based on trust and shared value," said Brodie Sutherland, chief executive officer of Tocvan Ventures. "This engagement not only strengthens our social licence to operate but also positions us for efficient progress toward near-term production at Gran Pilar. With permits in place and infrastructure work and sampling under way, we are excited about the momentum building into 2026."

Site preparation activities are progressing. Dozer cuts have been opened across key target areas to facilitate channel sampling for later bulk sampling, providing critical data on mineralization and supporting resource delineation efforts. Concurrently, ground levelling operations are under way to prepare the site for pilot mine infrastructure, including processing equipment, access roads, leach pads and support facilities. These steps follow recent positive surface sampling results from the North block and align with the continuing maiden drill program in the north, which has yielded encouraging indicators of gold and silver potential.

Tocvan remains focused on advancing the Gran Pilar project through systematic exploration and development, with plans for additional geophysical surveys, expanded sampling and drilling in the coming months. The company continues to prioritize safety, environmental responsibility and community benefits in all operations.

100-per-cent-controlled priority targets for trenching and drilling:

1. South block main zone expansion:
   1. Follow-up on 2025 drill success:
      1. 19.4 g/t Au over 3.1 metres within 106.6 metres of 0.6 g/t Au (Feb. 25, 2025, news release);
      2. 5.4 g/t Au over 6.1 metres within 41.2 metres of 1.0 g/t Au (May 7, 2025, news release);
      3. 136 g/t Ag over 10.7 metres within 42.7 metres of 41 g/t Ag (June 25, 2025, news release);
2. South block (Nov. 12, 2024, news release):
   1. Placer corridor (900-metre strike length):
      1. Soil samples up to 21.2 g/t Au and greater than 2,000 g/t Ag;
   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-kilometre-by-1.5-kilometre area):
      1. Two-metre chip sample -- 5.6 g/t Au and 106 g/t Ag (Oct. 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).

Gran Pilar drill highlights:

• 2025 diamond drilling highlights include:
  • 83.5 m of 1.3 g/t Au, including 9.7 m of 10.3 g/t Au (March 11, 2025, news release);
  • 97.4 m of 0.7 g/t Au, including 36.3 m of 1.6 g/t Au (March 19, 2025, news release);
  • 64.9 m of 1.2 g/t Au, including 3.0 m of 21.6 g/t Au and 209 g/t Ag (March 26, 2025, news release);
  • 46.9 m of 0.5 g/t Au, including 2.6 m of 7.2 g/t Au and 80 g/t Ag (April 16, 2025, news release);
• 2025 reverse circulation drilling highlights include:
  • 106.8 m of 0.6 g/t Au, including 3.1 m of 19.4 g/t Au (Feb. 25, 2025, news release);
  • 41.2 m of 1.0 g/t Au, including 6.1 m of 5.4 g/t Au (May 7, 2025, news release);
• 2024 RC drilling highlights (all lengths are drilled thicknesses):
  • 42.7 m of 1.0 g/t Au, including 3.1 m of 10.9 g/t Au;
  • 56.4 m of 1.0 g/t Au, including 3.1 m of 14.7 g/t Au;
  • 16.8 m of 0.8 g/t Au and 19 g/t Ag;
• 2022 phase 3 diamond drilling highlights (all lengths are drilled thicknesses):
  • 116.9 m of 1.2 g/t Au, including 10.2 m of 12 g/t Au and 23 g/t Ag;
  • 108.9 m of 0.8 g/t Au, including 9.4 m of 7.6 g/t Au and five g/t Ag;
  • 63.4 m of 0.6 g/t Au and 11 g/t Ag, including 29.9 m of 0.9 g/t Au and 18 g/t Ag;
• 2021 phase 2 RC drilling highlights (all lengths are drilled thicknesses):
  • 39.7 m of 1.0 g/t Au, including 1.5 m of 14.6 g/t Au;
  • 47.7 m of 0.7 g/t Au, including three m of 5.6 g/t Au and 22 g/t Ag;
  • 29 m of 0.7 g/t Au;
  • 35.1 m of 0.7 g/t Au;
• 2020 phase 1 RC drilling highlights (all lengths are drilled thicknesses):
  • 94.6 m of 1.6 g/t Au, including 9.2 m of 10.8 g/t Au and 38 g/t Ag;
  • 41.2 m of 1.1 g/t Au, including 3.1 m of 6.0 g/t Au and 12 g/t Ag;
  • 24.4 m of 2.5 g/t Au and 73 g/t Ag, including 1.5 m of 33.4 g/t Au and 1,090 g/t Ag;
• 15,000 m of historic core and RC drilling; highlights include:
  • 61.0 m of 0.8 g/t Au;
  • 21.0 m of 38.3 g/t Au and 38 g/t Ag;
  • 13.0 m of 9.6 g/t Au;
  • 9.0 m of 10.2 g/t Au and 46 g/t Ag.

Pilar bulk sample summary:

• 62-per-cent recovery of gold achieved over 46-day leaching period;
• Head grade calculated at 1.9 grams per tonne 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-fourths of an inch to one-eighth of an inch);
• Fine fraction (minus one-eighth of an 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 gold and 73 per cent silver from drill core composite at 120-metre depth.

About Tocvan Ventures Corp.

Tocvan Ventures is a dynamic exploration and development company 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-per-cent interest in over 21 square kilometres 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-per-cent interest in a one-square-kilometre joint venture area with Colibri Resources, further expanding its footprint. Recent exploration successes, including near surface 3.1 m at 19.4 g/t Au, underscore Gran Pilar's potential as a premier gold-silver asset. Additionally, Tocvan's 100-per-cent-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-per-cent gold recovery and 97-per-cent 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 59 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 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 ICP finish. Overlimit analyses for silver (greater than 100 g/t) were reassayed 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 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 multielement analysis of soils was completed by aqua regia digestion and ICP-MS finish using a 50-gram nominal weight. Overlimit gold values greater than one g/t were reassayed with a more robust aqua regia digestion and ICP-MS finish. Overlimit analyses for silver (greater than 100 g/t) were reassayed 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.

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

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