Tocvan Finalizes Agreement with Millrock Resources for the Transfer of the El Picacho Au‐Ag Property Option in Sonora, Mexico.
PRESS RELEASE
Tocvan Finalizes Agreement with Millrock Resources for the Transfer of the El Picacho Au‐Ag Property
Option in Sonora, Mexico.
Calgary, Alberta – September 15, 2021 Tocvan Ventures (CSE‐ TOC, OTCQB: TCVNF WKN: TV3/A2PE64), is
pleased to announce the company has completed their due diligence process and completed and executed the final
agreement to acquire Millrock Resources’ option to acquire up to 100% interest in the El Picacho mining concessions
located in the state of Sonora, Mexico.
The Project is located 140 kilometers north of Hermosillo in Sonora, Mexico and is fully accessible by road. Extensive
surface exploration has been conducted historically defining five gold targets on the project. Millrock and Tocvan
believe these targets will be ready for drill testing with surface confirmation via trenching. A permit is currently
active to allow for trenching and drilling on the Project.
About El Picacho
Location and Infrastructure
Total Area: 2,413.7 ha
Road accessible, 140 km north‐northwest of Hermosillo
Excellent Road access. Railroad on eastern edge of Project
18 km southwest of San Francisco Mine.
Historic Work Summary
Five Orogenic Gold Targets Defined: San Ramon, Tortuga, El Peurto, La Cornea, and El Jabali (see Figure 2)
2,650 rock samples collected
Regional Scale mapping completed
3,548 soil samples collected, covering Project Area
70% of area covered by ground magnetic survey
17.8 line‐km of IP surveys
Limited drilling completed, widely spaced
Fully permitted for drilling and trenching
Derek Wood CEO of Tocvan Ventures Commented “We are very please to have negotiated and completed this
agreement with Millrock. This is a prime example of the ability of Tocvan to negotiate transactions which we believe
add significant accretive value to Tocvan shareholders, while allowing previous operators and landowners to benefit
greatly from a successful outcome as Tocvan works to de‐risk the property toward economic viability. We like to
create win‐win opportunities for all stake holders and feel that we have accomplished this with execution of this
agreement.”
Terms of Option Agreement
Tocvan must make cash payments of $1,989,600 USD to the underlying concession owners (the Suarez brothers)
over a five‐year term to acquire 100% interest in the project.
Terms of Assignment Agreement
In the event that Tocvan exercises its option to purchase a 100% interest from the Suarez brothers, Millrock will
vest with a 2% NSR royalty. Tocvan may purchase back 1% for US$1.0 million. The royalty contains a provision for
an Annual Advance Minimum Royalty (“AMR”). The initial AMR payment to Millrock would be US$25,000. The
amount of the AMR will double each year until commercial production occurs. Any AMR payments made can be
deducted from NSR royalty payments.
Figure 1. Location of El Picacho Project within the Caborca Orogenic Gold Belt
Figure 2. Plan View Map of Target Areas at El Picacho.
Qualified Person
Brodie A. Sutherland, P.Geo., VP Exploration 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.
About Tocvan Ventures Corp.
Tocvan is a well‐structured exploration development 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 currently has approximately 29 million
shares outstanding and is earning into three exciting opportunities. The Pilar Gold‐Silver project and the El Picacho
Property within the Caborca Orogenic Gold Belt both located in Sonora and the Rogers Creek Copper project in
southern British Columbia, management feels all three projects represent tremendous opportunity to create long
term shareholder value.
ON BEHALF OF THE BOARD
Derek Wood President & CEO
Phone:403‐668‐7855