Tocvan Finalizes Agreement to Acquire up to 100% Interest in the Pilar Gold Project from Colibri Resource Corp.

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Tocvan Ventures Corp [TOC:CNSX] is pleased to announce the company has completed all necessary due diligence and has finalized their option agreement dated September 22nd with Colibri Resource Corp. The agreement allows Tocvan to acquire up to 100% interest in the Pilar project located in Sonora Mexico. The Pilar project is located within the historic Sonora gold district within the Sierra Madre Occidental geological province, host to epithermal gold-silver and porphyry copper deposits. Pilar is accessible by road and is geographically located 140km south-east of the city of Hermosillo.Under the terms of the agreement Tocvan has now advanced the first year’s cash payment of $125,000 to Colibri and issued 2,000,000 common shares of Tocvan to Colibri Resource corp. Under the terms of the agreement Tocvan must now complete $2,000,000 of exploration on the property over five years, advance Colibri an additional $275,000 over the 5-year period with $50,000 due on the 1st anniversary date of the agreement and $75,000 due on the 3rd, 4th and 5th anniversary dates. Tocvan will also issue an additional 1,000,000 shares of the corporation to Colibri on the 3rd, 4th and 5th anniversary dates. Once the above is satisfied Tocvan will have earned a 51% interest in the property and have the option to acquire the additional 49% interest by making a further $2,000,000 payment to Colibri Resource Corp. within in 6 months of fulfilling the obligations listed above.

During the due diligence period management analyzed all available data collected to date, met with former exploration managers, completed a detailed search of tenure on concessions, and conducted a thorough site visit. Management now believe firmly that the Pilar property represents tremendous potential for a proven economic resource in the short term and the host the potential for a multimillion-ounce discovery.

Mark Smethurst, a Director of Tocvan, commented:

“This is one of the more exciting properties I’ve come across in my career. The Pilar property has the right features and system to allow for great potential in defining a multimillion-ounce property.”

About the Pilar Project

The Pilar Gold Project consists of low-sulfidation epithermal mineralization in oxidized rhyolite and andesite host rock. Three zones of mineralization have been identified from surface work and drilling and are referred to as the Main Zone, North Hill and 4 Trench (Figure 1). Soil sampling along trend of the three known zones indicates a continuation of mineralization to the southeast (Figure 1).

Key Points on Pilar:

  • – 17,700m of Core & RC drilling. Highlights shown in Table 1.- 2,650m of surface and trench channel sampling. Highlights include:
    • – 55 g/t Au over 3m- 28.6 g/t Au over 6m

      – 3.39 g/t Au over 50m

    – Up to 92% recovery of oxide gold from preliminary metallurgical studies;

    – Soil sampling in undrilled areas indicating mineralization southeast of Main Zone and 4 Trench.

Figure 1. Project map of Pilar showing mineralized oxide zones defined by drilling and soil sample results.

Table 1. Drill highlights from the oxide gold mineralization zones at Pilar. Intervals are length-weighted and uncapped. Intervals are calculated based on gold equivalent cut-off and less than 5 meters of dilution below the cut-off grade. Gold equivalent (AuEq) is calculated based on $1250/oz gold and $16/oz silver.

Target Hole ID From (m) To (m) Width* (m) Au (g/t) Ag (g/t) AuEq (g/t) AuEq Cut-off AuEq x Width (g/t x m)
2018 Drilling Highlights
Main Zone JES-18-3 117.0 130.5 13.5 5.64 21.5 5.91 0.2 79.8
Incl. 117.0 118.5 1.5 33.40 49.9 34.04 10 51.1
Main Zone JES-18-19 43.5 73.5 30.0 0.91 2.1 0.94 0.2 28.2
Main Zone JES-18-24 34.5 82.5 48.0 0.87 1.5 0.89 0.2 42.5
Incl. 57.0 58.5 1.5 17.30 0.9 17.31 10 26.0
Main Zone JES-18-25 72.0 75.0 3.0 5.40 3.0 5.44 0.2 16.3
2010-2013 Drilling Highlights
4 Trench JESP-18 19.80 50.30 30.50 0.69 NA 0.69 0.2 21.0
North Hill JESP-21 1.50 13.70 12.20 0.83 NA 0.83 0.2 10.1
Main Zone JESP-12-3 10.67 33.53 22.86 0.31 0.4 0.32 0.2 7.3
and 71.63 92.96 21.33 0.46 0.5 0.47 0.2 10.0
Main Zone JESP-12-4 15.24 35.05 19.81 0.90 0.6 0.91 0.2 18.0
and 54.86 62.48 7.62 1.45 2.8 1.49 0.2 11.3
Incl. 56.39 57.91 1.52 5.89 2.9 5.93 5 9.0
Main Zone JESP-13-08 52.50 85.50 33.00 0.35 8.5 0.46 0.2 15.1
Main Zone JESP-13-09 54.00 76.50 22.50 0.65 2.0 0.67 0.2 15.2
Main Zone JESP-13-15 40.50 75.00 34.50 1.27 9.4 1.39 0.2 48.1
Incl. 42.00 45.00 3.00 9.52 27.5 9.87 5 29.6
and 84.00 105.00 21.00 0.83 1.1 0.85 0.2 17.8
Incl. 91.50 93.00 1.50 7.36 1.4 7.38 5 11.1
1996-1997 Drilling Highlights**
Main Zone P-8 4.5 69.0 64.5 0.51 5.2 0.58 0.2 37.1
Incl. 67.5 69.0 1.5 12.86 200.0 15.42 10.0 23.1
Main Zone P-9b 57.0 69.0 12.0 7.75 35.3 8.21 0.5 98.5
Incl. 58.5 66.0 7.5 12.41 56.4 13.13 5.0 98.5
Main Zone PP-8c 6.0 22.5 16.5 0.91 0.8 0.92 0.2 15.1
and 33.0 58.5 25.5 1.13 1.8 1.16 0.2 29.5
Incl. 33.0 42.0 9.0 2.78 2.6 2.81 0.5 25.3
Main Zone R-8 19.5 25.5 6.0 2.19 14.8 2.38 0.5 14.3
and 46.5 60.0 13.5 3.06 29.4 3.43 0.2 46.4
Incl. 46.5 52.5 6.0 6.60 62.8 7.40 0.5 44.4
Incl. 48.0 51.0 3.0 10.93 116.5 12.42 5.0 37.3
North Hill S-10 48.0 69.0 21.0 38.17 38.1 38.66 0.2 811.9
Incl. 52.5 58.5 6.0 131.09 118.7 132.61 10.0 795.6
4 Trench K-16 0.0 7.5 7.5 3.31 31.3 3.71 0.5 27.8

About Tocvan Ventures Corp. Tocvan is a well-structured exploration mining company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan Ventures Currently has approximately 10.8 million shares outstanding and is earning into two exiting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both opportunities represent tremendous opportunity.

The technical information in this news release has been prepared or approved by Mark Smethurst, P.Geo., Independent Director, of the Company, and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

For more information please contact: https://tocvan.com/proactive-tocvan-ventures-is-a-company-with-experienced-management-wanting-to-be-different/

Derek Wood
President/CEO
Tocvan Ventures Corp.

800-825 8th Ave SW
Calgary AB T2P 2T3

O 403-668-7855
C 403-200-3569

dwood@tocvan.ca
www.tocvan.ca

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