Mr. Brodie Sutherland reports

TOCVAN ANNOUNCES CLOSING OF BOUGHT DEAL FINANCING FOR $10 MILLION

Tocvan Ventures Corp. has closed its previously announced bought deal private placement, with Stifel Canada as sole underwriter and bookrunner, pursuant to which the underwriter purchased 10,005,000 units of the company at a price of $1 per unit for aggregate gross proceeds of $10,005,000, which included the full exercise of the underwriter's overallotment option.

Each unit is composed of one common share and one common share purchase warrant of the company. Each warrant is exercisable to acquire one additional common share for a period of 36 months following the closing date of the offering at an exercise price of $1.40 per warrant share.

The net proceeds of the offering shall be used to advance the company's gold projects in Sonora, Mexico, as well as for general working capital.

A cash commission equal to 7.0 per cent on the gross proceeds of the offering and compensation warrants equal to 7.0 per cent of the number of units of the company sold under the offering was paid to the underwriter. Each compensation warrant entitles the holder to acquire a common share of the company at the issue price for a period of 24 months from the date of issue thereof.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units were offered for sale to purchasers resident in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). As the offering is being completed pursuant to the listed issuer financing exemption, the units issued pursuant to the offering will not be subject to a statutory hold period pursuant to applicable Canadian securities laws. The units were also offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis.

Participation in the offering by Christopher Gordon, an officer of the company, and Anna Ladd-Kruger, a director of the company, was considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering in reliance of sections 5.5(a), 5.7(1)(a) and 5.7(1)(b) of MI 61-101.

There is an offering document related to the offering that can be accessed under the company's issuer profile on SEDAR+ and on the company's website.

About Tocvan Ventures Corp.

Tocvan is a dynamic exploration and near-term producer 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 metres at 19.4 grams per tonne gold, 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 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 78 million shares outstanding, Tocvan is committed to unlocking the full potential of its assets through innovative exploration, strategic development and investor-focused initiatives.

We seek Safe Harbor.