Operational momentum: Tocvan accelerates on multiple fronts

Disclaimer and Forward-Looking Information: Rockstone and Tocvan Ventures Corp. (“Tocvan”; “the Company”) expressly point out that all forward-looking information contained in this report does not represent a guarantee of future results or performance. Actual results may differ materially from those projected. Readers are referred to Tocvan’s public filings, available on SEDAR+ at www.sedarplus.ca, for a more detailed discussion of risk factors and their potential impact. All statements in this report that are not historical facts constitute forward-looking statements. This report contains expectations, interpretations, projections, and assumptions made by the author based on information available at the time of writing. Forward-looking statements include, but are not limited to, statements, expectations, assessments, and assumptions regarding: The Company’s transition into an accelerated execution phase following the closing of the 10 million CAD bought-deal financing and the deployment of proceeds across parallel exploration and pilot development workstreams; the continued exploration, evaluation, and advancement of the Gran Pilar Gold-Silver Project in Sonora, Mexico; the scope, timing, pace, and execution of current and future drilling, trenching, sampling, geophysical, and geological programs, including the progression of drilling across newly defined South Block target areas informed by integrated drone magnetic, geochemical, structural, and geological datasets; the timing, interpretation, and significance of pending and future assay results and the extent to which such results may support follow-up drilling, revised targeting, or broader mineralized footprint expansion; the potential to expand known mineralization and the extent to which South Block drilling and trenching results may contribute to resource growth concepts; the continued evaluation of additional targets across the broader Gran Pilar land package, including potential future work on the North Block; the availability, deployment, and concurrent operation of multiple drill rigs, including the evaluation of a third rig, and the expected impact of increased drilling capacity on program pace, operational momentum, and the cadence of news flow; the ongoing preparation, construction, commissioning, and operational readiness of the permitted 50,000 tonne pilot mine, including assumptions regarding scheduling, logistics, infrastructure completion, staffing, and contractor performance; the anticipated timing, performance, and outcomes of pilot-scale mining and processing activities, including metallurgical performance, recoveries, operating costs, and the applicability of pilot-scale results to decisions regarding larger-scale commercial development; the Company’s ability to execute safely and responsibly, including adherence to environmental standards, implementation of strong safety practices, and constructive engagement with local communities; expectations regarding gold and silver prices, foreign exchange rates, capital markets conditions, and broader investor interest; and Tocvan’s ability to manage liquidity and execute exploration and development programs in a manner consistent with its stated objectives. Forward-looking statements are based on current expectations, assumptions, and beliefs of management and the author as of the date of publication and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, developments, or events to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to: The inherently speculative nature of mineral exploration and early-stage mining activities; the risk that planned drilling, trenching, and sampling programs may be delayed, modified, expanded, reduced, or discontinued due to contractor performance, rig availability, equipment failure, weather, access, infrastructure, or logistical constraints; the risk that exploration results may not confirm current geological interpretations, structural models, target concepts, or expectations, including the possibility that anomalous surface geochemistry or geophysical responses may not translate into economically meaningful mineralization at depth or across mineable dimensions; geological uncertainties, including variability in grade, continuity, geometry, structural controls, and scale of mineralized zones; the possibility that interim or selective results may change as additional drilling, trenching, and data become available; risks related to sampling, assaying, QA/QC, data integrity, and interpretation; operational risks associated with maintaining safe field activities and advancing the pilot mine site, including technical challenges, supply-chain constraints, contractor availability, labor availability, fuel, power, water, and infrastructure readiness; uncertainties related to pilot-scale performance, recoveries, throughput, metallurgical variability, operating costs, timelines, commissioning, and ramp-up, and the risk that pilot-scale outcomes may not be indicative of larger-scale commercial results; potential cost overruns, inflationary pressures, and deviations from projected budgets; regulatory, environmental, social, and permitting risks, including the risk of changes to compliance requirements, monitoring obligations, operating conditions, or community expectations, even where key permits have been granted; volatility in gold and silver prices, exchange rates, interest rates, and capital markets; political, regulatory, fiscal, or legal changes in Mexico that could affect mining operations, permitting, taxation, repatriation of capital, or project economics; risks related to financing, liquidity, and access to capital on acceptable terms, including potential dilution from future financings or the exercise of outstanding securities; dependence on key personnel, contractors, suppliers, and third-party service providers; environmental, community, land access, stakeholder, and security-related risks; and broader macroeconomic, geopolitical, or market-related factors beyond the Company’s control. Forward-looking statements are inherently subject to significant risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Actual results and future events may differ materially from those expressed or implied by forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Neither Rockstone, the author, nor Tocvan Ventures Corp. undertakes any obligation to update or revise forward-looking statements, except as required by applicable law.

Disclosure of Interests and Legal Notice: Nothing in this report should be construed as an invitation to buy or sell securities. Rockstone, its owners, and the author of this report are not registered broker-dealers or financial advisors. Before investing in securities, you should always consult your financial advisor and a registered broker-dealer. Never make an investment decision based solely on online or printed reports, including reports from Rockstone – particularly when it comes to small, thinly traded companies. The author of this report, Stephan Bogner, received compensation from Tocvan Ventures Corp. in the amount of 19,000 CAD for a period of 3 months. In addition, he holds securities of Tocvan and will therefore also benefit from increased trading volume and share price appreciation. This represents a significant conflict of interest that may affect the objectivity of this reporting. The author may buy or sell securities of Tocvan at any time without notice, which may give rise to additional conflicts of interest. This report should be understood as a promotional publication and does not replace individual investment advice. All information is current as of the date of publication and is subject to change without notice. Liability for financial losses resulting from investments made on the basis of this report is excluded. The views of Rockstone and the author regarding the companies presented in this report reflect solely their own assessments and are based on information from public sources deemed reliable. Rockstone and the author have not conducted independent due diligence. Neither Rockstone nor the author guarantees the accuracy, completeness, or usefulness of the content, nor its suitability for any particular purpose. There is likewise no guarantee that the companies mentioned will perform as expected, or that comparisons with other companies will prove valid. Please read the full disclaimer carefully. If you do not agree with it, do not use this website or report. By using the website or this report, you agree to the disclaimer, regardless of whether you have read it in full. The information provided is of a general and educational nature. Data, tables, figures, and images, unless otherwise indicated or linked, originate from Tradingview.com, Stockwatch.com, Tocvan Ventures Corp., and publicly available sources.