19:51:27 EDT Thu 23 Apr 2026
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Tower Resources Ltd
Symbol TWR
Shares Issued 173,281,101
Close 2026-04-23 C$ 0.17
Market Cap C$ 29,457,787
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Tower Resources receives drill permit for Rabbit North

2026-04-23 17:10 ET - News Release

Mr. Joe Dhami reports

TOWER RECEIVES PERMIT FOR NEW DIAMOND DRILLING PROGRAM AT RABBIT NORTH

Tower Resources Ltd.'s application to resume diamond drilling on its Rabbit North orogenic gold discovery in the heart of the Kamloops porphyry Cu (copper) mining district has been approved and mobilization of the drill rig is under way.

Fifteen new drill sites have been approved and drilling is planned at a minimum of 10 sites with a possible second hole at some sites. In addition, hole 73, which was started in December to test the high-grade Thunder North gold zone at depth (see March 18, 2026, news release), will be extended southeast to its targeted 300-metre (m) depth. As the gold zones tend to dip southeast, most of the other drill sites are positioned for shorter, more efficient, northwest-oriented drill holes.

The main focus will be on closing the untested gap between the Thunder North and Blue Sky gold zones and extending the Thunder zone westward. A historical gold intersection one kilometre (km) northeast of Blue Sky will also be investigated. All but the latter target are "blind" because the gold-hosting Mesozoic basement rocks are covered by both glacial till and Miocene basalt lava flows.

Thunder North holes

A minimum of four holes are planned to further fill in the 400 m untested gap between the Thunder North and Blue Sky zones. Drilling will begin on the ridge at Blue Sky and proceed downslope at 50 m intervals toward Thunder North.

Thunder extension

Approximately five holes will be drilled to trace the Thunder zone -- the faulted western end of Thunder North -- westward at 50 m intervals toward the Durand Creek fault, which is incised by a deep valley.

Historical Au (gold) intersection

A vertical percussion hole drilled on the Durand stock approximately 300 m north of the eastern part of the Blue Sky gold trend in 1990 targeted porphyry Cu-Au mineralization but instead intersected 39.7 m of apparently shear-hosted Au mineralization averaging 1.75 grams per tonne (g/t) Au. This occurrence was never followed up by diamond drilling.

The till gold grain anomaly outlined by Tower is not as strong at this site as along the Blue Sky trend but is still significant at 139 grains (see Nov. 3, 2025, news release). Tower plans to drill a single hole across the gold zone to obtain a preliminary assessment of its potential significance.

Methods and qualified person

The technical content of this news release has been reviewed and approved by Stuart Averill, PGeo, a director of the company and a qualified person as defined by National Instrument 43-101

About Tower Resources Ltd.

Tower is a Canadian-based mineral exploration company focused on the discovery and advancement of economic mineral projects in the Americas. The company's key exploration assets, all in British Columbia, are the Rabbit North orogenic gold and porphyry copper-gold project located between the New Afton copper-gold and Highland Valley copper mines in the Kamloops mining district, the Nechako porphyry-associated gold-silver project near Artemis's Blackwater project, and the More Creek epithermal gold project on the critical "red line" structural zone connecting the mineral deposits of the Golden Triangle.

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