Mr. Brodie Sutherland reports

TOCVAN PROVIDES GRAN PILAR GOLD-SILVER PROJECT UPDATE ADVANCING PILOT MINE DEVELOPMENT AND DRILLING ON SOUTH BLOCK

Tocvan Ventures Corp. has made significant progress in its preparations for the pilot mine and the coming phase of drilling at the Gran Pilar gold-silver project. The company has been actively preparing the site for pilot mining operations while gearing up for an expanded drilling campaign. The drill rig returns to the site this week, enabling the initiation of several critical next steps:

• Assessing and clearing areas for development with condemnation drilling;
• Installation of water monitoring wells to ensure environmental compliance and sustainable operations;
• Leveraging a newly constructed 4.8-kilometre access road and prepared drill pads for exploration drilling to discover untapped potential on the Southern block of Gran Pilar;
• Targeted infill and stepout drilling to grow potential mineral resources.

In parallel, groundwork for the pilot mine is advancing rapidly, with the site being prepared, fenced and essential equipment sourced and positioned for deployment. A magnetic drone survey on the North block is set to finalize this week as a damaged sensor delayed the completion of the survey. Results from the North block drone survey are expected in February.

Tocvan is also awaiting assay results from the initial drill holes on the North block as well as from recent channel sampling in newly opened areas of the North and South blocks. These results are expected to provide valuable insights into the mineralization and guide future activities.

"We are excited with the momentum building at Gran Pilar as we move toward pilot production and further resource delineation," said Brodie Sutherland, chief executive officer of Tocvan. "Our team has worked diligently to position the project for success, and we look forward to sharing the pending results with our stakeholders."

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 grams per tonne gold 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 silver 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 RC 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 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-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.

We seek Safe Harbor.