Tocvan Enters Into Definitive Agreement to Acquire Remaining 49% Interest in Original Pilar Concessions, Consolidating 100% Ownership of Flagship Gran Pilar Gold-Silver Project
HERMOSILLO, MX / ACCESS Newswire / July 9, 2026 / Tocvan Ventures Corp. (the "Company" or "Tocvan") (CSE:TOC)(OTCQB:TCVNF)(WKN:TV3/A2PE64) is pleased to announce that it has entered into a definitive agreement (the "Agreement") with Colibri Resources Corp. ("Colibri") to acquire the remaining 49% interest in the two original Pilar mining concessions (the "Concessions") (collectively, the "Transaction"). Upon closing, Tocvan will hold 100% ownership of its flagship Gran Pilar Gold-Silver Project in Sonora, Mexico (the "Project").
The Concessions comprise approximately 105 hectares and host the Main Zone, being the most advanced area of the Project with extensive historic and recent drilling. Tocvan currently holds a 51% interest in the Concessions, while maintaining 100% ownership of the surrounding expansion areas that make up the majority of the greater than 21 km² Gran Pilar land package.
"This acquisition represents a major milestone for Tocvan and our shareholders," said Brodie Sutherland, CEO of Tocvan. "Eliminating any joint ownership on the core Main Zone area simplifies our ownership structure, streamlines decision-making, and allows us to fully optimize development plans as we advance toward pilot production and resource definition. With 100% ownership of the entire project, we are better positioned to capture the full upside of Gran Pilar's significant exploration potential and near-term production opportunity."
Key Terms of the Agreement
Total cash consideration: CAD $3,600,000 payable by Tocvan to Colibri, consisting of:
CAD $2,000,000 payable in cash on the closing date ("Closing"); and
CAD $1,600,000 payable in cash on the date that is twelve (12) months from the date of Closing.
Royalty: Tocvan will grant Colibri a 1.0% Net Smelter Return ("NSR") royalty on the Project.
Royalty Buyback: Tocvan retains the right to repurchase the entire 1% NSR royalty from Colibri at any time for a one-time cash payment of CAD $1,000,000.
Right of First Refusal: Colibri has granted Tocvan a right of first refusal on any proposed sale of the NSR royalty to a third party.
Pursuant to the Agreement, the mining claims comprising the Concessions are currently held by Colibri's Mexican subsidiary and will be transferred to Tocvan's Mexican subsidiary.
Closing and Conditions
Closing of the Transaction is expected to occur shortly following receipt of all required regulatory approvals, including approval from the Canadian Securities Exchange (CSE) and the Transaction remains subject to customary closing conditions, including regulatory approvals and the satisfaction of other conditions precedent set out in the Agreement.
Strategic Benefits of Transaction
Consolidating 100% ownership of Gran Pilar provides Tocvan with full control over one of the most advanced and strategically located gold-silver projects in Sonora, Mexico's premier mining jurisdiction.
Next Steps
Tocvan will provide further updates on the closing of the Transaction and ongoing exploration and development activities at Gran Pilar, including the fully funded drill program and pilot production progress. This year over 9,000 meters has been drilled on new exploration targets with results for over 6,000 meters still pending.
Figure 1. Gran Pilar target summary. Drone magnetic survey map showing tilt derivative of the Reduced to Pole (RTP) and priority target areas identified to date by geological mapping and surface geochemistry. Location of the new El Mezquite target area.
The Gran Pilar Project, Sonora, Mexico
100% CONTROLLED PRIORITY TARGETS FOR TRENCHING & DRILLING
South Block Main Zone Expansion
Follow-up on 2025 Drill Success
19.4 grams per tonne ("g/t") Au over 3.1 meters ("m") within 106.6 m of 0.6 g/t Au (February 25, 2025 News Release)
5.4 g/t Au over 6.1 m within 41.2 m of 1.0 g/t Au (May 7, 2025 News Release)
136 g/t Ag over 10.7 m within 42.7 m of 41 g/t Ag (June 25, 2025 News Release)
South Block (November 12, 2024 News Release)
Placer Corridor (900-m strike length)
Soil samples up to 21.2 g/t Au and >2,000 g/t
Placer Source Area
Soil samples up to 2.4 g/t Au and 22 g/t Ag
Rock samples up to 7.3 g/t Au and 389 g/t Ag
North Block
North Alteration Zone (3.2 km by 1.5 km area)
2-m chip sample, 5.6 g/t Au and 106 g/t Ag (October 19, 2023 News Release)
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:
83.5m @ 1.3 g/t Au, including 9.7m @ 10.3 g/t Au (March 11, 2025 News Release)
97.4m @ 0.7 g/t Au, including 36.3m @ 1.6 g/t Au (March 19, 2025 News Release)
64.9m @ 1.2 g/t Au, including 3.0m @ 21.6 g/t Au and 209 g/t Ag (March 26, 2025 News Release)
46.9m @ 0.5 g/t Au, including 2.6m @ 7.2 g/t Au and 80 g/t Ag (April 16, 2025 News Release)
2025 RC Drilling Highlights include:
106.8m @ 0.6 g/t Au, including 3.1m @ 19.4 g/t Au (February 25, 2025 News Release)
41.2m @ 1.0 g/t Au, including 6.1m @ 5.4 g/t Au (May 7, 2025 News Release)
2024 RC Drilling Highlights include (all lengths are drilled thicknesses):
42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au
16.8m @ 0.8 g/t Au and 19 g/t Ag
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/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 @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (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 @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-m depth.
About Tocvan Ventures Corp.
Tocvan Ventures Corp. 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% interest in over 21 km² 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. 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% 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% gold and 97% 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 78.7 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 Limited 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. Over limits for gold (>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. Over limit analyses for silver (>100 g/t) were re-assayed 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.
Brodie A. Sutherland, CEO 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 release.
Cautionary Statement Regarding Forward Looking Statements
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the Transaction and anticipated next steps. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, 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 judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news 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 may be 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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
1150, 707 - 7 Ave SW
Calgary, Alberta T2P 3H6
Telephone: 1 306 690 8886
Email: ir@tocvan.ca
STAY CONNECTED:
LinkedIn: TOC LinkedIn
X: TOC X
Facebook: TOC Facebook
YouTube: TOC YouTube
Web: tocvan.com
SOURCE: Tocvan Ventures Corp
View the original press release on ACCESS Newswire