Tocvan Ventures Unveils Six-Phase Pilot Mining Strategy at Gran Pilar Gold-Silver Project with Q4 2026 Doré Production Goal

Gran Pilar Advances from Exploration to Pilot Production Stage

On July 15, 2026, Tocvan Ventures Corp. announced the progression of Gran Pilar from exploration to pilot-scale production. This pivotal transition is supported by the acquisition of all major operating permits and significant construction progress onsite. The update provides one of the most detailed operational disclosures to date, moving beyond resource data to outline engineering and infrastructure milestones necessary before ore processing can commence.

Situated in Sonora, Mexico—a jurisdiction Tocvan describes as mine-friendly—the Gran Pilar Gold-Silver Project covers over 21 square kilometres under 100% company ownership. Exploration highlights include near-surface intercepts of 3.1 metres grading 19.4 grams per tonne gold. Previous metallurgical testing demonstrated up to 99% gold and 97% silver recovery in laboratory conditions. The pilot heap-leach facility targets a more conservative 70% gold recovery at operational scale, aligning with typical oxide heap-leach benchmarks.

Permit Acquisition and Community Agreement Establish Operational Stability

A key foundation for the pilot program is the regulatory framework Tocvan has secured over the past year. The company obtained a 10-year pilot mine permit in August 2025, authorizing extractive operations at Gran Pilar. This was complemented by a 6-year Community Agreement executed in May 2026, which provides long-term operational stability and flexibility for expansion. Together, these agreements significantly mitigate permitting and social risks—two major challenges for junior miners transitioning from exploration to production in Mexico.

While financial terms and specific community stakeholders involved in the Community Agreement were not disclosed, these arrangements are considered critical to the phased advancement of the project. Their completion ahead of construction phases marks an important de-risking milestone. The combined permit and agreement duration extends well beyond the pilot phase, consistent with Tocvan’s strategy to use pilot data to guide a broader commercial development.

Construction Progress on Heap-Leach Facility Infrastructure

Construction of the pilot facility is actively progressing. Heavy equipment including a dozer, excavator, and haul truck were mobilized onsite in April 2026. Site preparation such as fencing, leveling, and groundwork for the heap-leach pad and containment ponds has been completed. Currently, the containment ponds’ base is packed with clay and ready for liner installation, while the heap-leach pad foundation excavation is complete and being prepared for its clay base and liner.

Simultaneously, Tocvan has contracted local crushing equipment and is building the processing plant in Hermosillo, Sonora’s capital. Condemnation drilling and water monitoring wells are finished, with baseline environmental data collection ongoing. Active trenching of near-surface oxide gold-silver material across expansion targets is also underway. The release includes a plan-view layout of the pilot facility and photos documenting construction, showcasing tangible progress. The 1.76-hectare engineered heap-leach pad is the facility’s core infrastructure.

Phases 1 & 2: Material Stockpiling and Leach Pad Construction

The six-phase plan begins with two concurrent phases targeting completion by Q3 2026. Phase 1 involves trenching and transporting material to secure and characterize 50,000 tonnes of high-grade oxide feed. Activities include expanding dozer trenching across South Block priority targets and hauling and stockpiling mineralized material. The key milestone is accumulating 50,000 tonnes of feedstock.

Phase 2, running concurrently, focuses on constructing the engineered 1.76-hectare heap-leach pad and containment system. Tasks include site grading, compaction, installing impermeable liners, solution collection pipes, containment berms, and emergency ponds. The milestone is official certification of the pad as ready for ore stacking with full environmental approval. The announcement does not disclose construction costs or total capital expenditure for the pilot facility.

Phases 3 & 4: Crushing, Stacking, and Processing Plant Commissioning

Phase 3, planned for Q3 2026, involves crushing mined ore to optimal size and stacking it on the heap-leach pad in lifts of four to six metres. The milestone is having 50,000 tonnes fully stacked and preconditioned for leaching. Local crushing equipment has been contracted to support this timeline.

Phase 4, concurrent with Phases 2 and 3 and also targeting Q3 2026 completion, entails commissioning the hydrometallurgical processing plant. Activities include installing a five-column carbon adsorption circuit, solution ponds, and pumps. The milestone is full commissioning and dry testing of the plant, which is being constructed in Hermosillo before transport to the site. No equipment costs or detailed installation timelines beyond Q3 2026 were provided.

Phase 5: Heap-Leach Processing and Real-Time Recovery Tracking

Phase 5 covers pilot-scale gold and silver extraction scheduled from Q3 through Q4 2026. A dilute sodium cyanide solution will be applied via drip irrigation over the stacked ore during a 60 to 90-day leach cycle. The pregnant solution will circulate through the system, with dissolved metals adsorbed onto activated carbon in the five-column circuit installed during Phase 4. Recovery will be monitored in real time throughout the cycle.

The milestone is achieving over 70% gold recovery and collecting detailed metallurgical and cost data. This information will directly inform Tocvan’s commercial development plans, specifically evaluating the economics and design of a potential Phase 2 expansion. Assuming stacking starts on schedule in Q3 2026, processing results are expected between October and December 2026, aligning with the Q4 2026 doré pour target.

Phase 6: First Doré Pour and Financial Reporting in Late Q4 2026

The final phase targets producing and reporting the first gold-silver doré in late Q4 2026. Key activities include weighing and assaying the initial pour, securing the material, and preparing a cash flow analysis and report. Tocvan will also assess all-in sustaining cost (AISC) data and optimization results to support planning for a potential Phase 2 commercial expansion.

This first doré pour represents both an operational and financial milestone intended to generate initial revenue amid high gold prices. CEO Brodie Sutherland stated, "This pilot operation is the first step toward establishing Gran Pilar as a scalable, long-life gold-silver producer. With construction progressing, equipment onsite, and processing infrastructure being built, we remain firmly on track for our first gold-silver doré pour in Q4 2026. The operating data and cash flow generated will directly inform our commercial development strategy." The company has not disclosed projected revenue or doré production volumes for the pilot phase.

Gran Pilar Resource Base and Picacho Project Overview

Gran Pilar is Tocvan’s flagship asset, encompassing over 21 square kilometres with 100% ownership, expanded through a key 2023 acquisition providing ample room for scalable infrastructure. Exploration results include near-surface intercepts of 3.1 metres grading 19.4 grams per tonne gold. Metallurgical testing reported up to 99% gold and 97% silver recovery under laboratory conditions, though the heap-leach pilot targets a more operationally realistic 70% gold recovery.

Tocvan also owns 100% of the Picacho Gold-Silver Project in the Caborca Trend of Sonora, a region hosting some of Mexico’s largest gold deposits. Picacho serves as a growth asset complementing Gran Pilar’s near-term pilot production focus. No updated resource estimates, drilling results, or development timelines for Picacho were included in this announcement. Investors interested in Picacho should consult prior disclosures. Tocvan’s total shares outstanding are approximately 78.7 million.

Technical Oversight and Qualified Person Certification

The technical information in this announcement has been reviewed and approved by Brodie A. Sutherland, CEO of Tocvan Ventures Corp., who is a Qualified Person (QP) under Canadian National Instrument 43-101 standards. This certification ensures the accuracy and appropriateness of the disclosed scientific and technical data.

Sutherland’s dual role as CEO and technical approver is common among junior mining companies, where leadership often holds professional geological qualifications. The release does not mention independent QP review of the technical data, which is typical at the pilot development stage but may be a consideration for investors evaluating the technical claims. The immediate impact on the company’s share price was unclear at the time of publication.

Sonora Jurisdiction and Gold Market Environment

Tocvan consistently highlights Sonora, Mexico, as a favorable jurisdiction for gold and silver mining, citing its established mining history and multiple significant producing operations. The company emphasizes the successful acquisition of a 10-year pilot mine permit and a multi-year community agreement as evidence of regulatory and social support.

The announcement references a robust gold market and record-high prices as a positive backdrop for advancing the pilot facility toward production. Although specific gold price levels were not cited, the timing of the Q4 2026 first pour is positioned as potentially advantageous for revenue generation. Investors should note gold price volatility and that the company does not provide revenue forecasts or economic guarantees. All forward-looking statements are subject to risks and uncertainties outlined in the release’s cautionary language.