Tocvan Ventures Secures 100% Ownership of Gran Pilar Project

Tocvan Ventures Corp. announced a definitive agreement to acquire the remaining 49% interest in the Pilar mining concessions from Colibri Resources Corp. This transaction will grant Tocvan full ownership of the Gran Pilar Gold-Silver Project in Sonora, Mexico. The 105-hectare Concessions, hosting the Main Zone, are integral to Tocvan’s flagship project.

The purchase involves a total of CAD $3.6 million in cash payments to Colibri. Additionally, Tocvan will grant a 1.0% Net Smelter Return royalty, with an option to repurchase for CAD $1 million. This strategic move is anticipated to streamline decision-making, optimize development, and enhance Tocvan's position in Sonora.

Closing is contingent upon receiving regulatory approvals. Tocvan plans to provide updates on the transaction and exploration progress at Gran Pilar, including new drilling data and pilot production outcomes. This acquisition marks a significant advancement in Tocvan's exploration efforts in Mexico.