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Tower Resources Ltd
Symbol TWR
Shares Issued 173,281,101
Close 2026-06-03 C$ 0.16
Market Cap C$ 27,724,976
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Tower Resources begins drilling at Rabbit North

2026-06-03 17:50 ET - News Release

Mr. Joe Dhami reports

TOWER BEGINS DRILLING AT RABBIT NORTH FOLLOWING LOGISTICAL DELAYS

The drilling program previously scheduled for late April (see April 23, 2026, news release) to advance Tower Resources Ltd.'s major orogenic Au (gold) discovery on its Rabbit North property near Kamloops, B.C., is now under way, following logistical delays related to the unusually high level of exploration activity in the province.

Thunder-Blue Sky trend: a long, mesothermal orogenic Au structure

Tower is currently focusing its drilling at Rabbit North on untested segments of the Thunder-Blue Sky trend, an east-northeast-trending, gold-rich, mesothermal orogenic structure that the company discovered in 2023 and has traced by drilling and till gold grain sampling for 2.7 kilometres (km). Only 600 metres (m) of the structure have been drilled to date, and every hole crossing it has returned a long and/or high-grade Au intersection. The present program will test an additional 400 m of the structure.

Expected deep Au potential

With 2.1 km of the Thunder-Blue Sky structure not yet tested, the company is still focused on the top 250 m. However, orogenic Au systems are generally subvertical and run much deeper than porphyry and epithermal systems because the Au scavenging fluids originate in the mantle and rise through thick, accreted continental crust rather than thin oceanic crust, stripping Au from the crustal rocks and precipitating it within 10 km of surface as they flow through the two to three km thick mesothermal temperature-pressure window. As a result, the depths of mesothermal Au deposits commonly reach two to three km and in many cases are greater than their lengths.

Many of the world's top Au deposits are of this type irrespective of their ages. They include the two to three km deep mines at Timmins and Kirkland in the Archean Abitibi greenstone belt and the much younger (Cretaceous) Bralone deposit in British Columbia, which was mined to 1.9 km, yielded 4.1 million ounces (oz) of Au at a very high average grade of 0.5 ounce per ton (oz/t) and remains open at depth. While the Thunder-Blue Sky structure is notable for its exceptional 2.7 km length and has consistently yield strong gold grades over attractive widths from shallow drilling, its full potential is expected to be realized at depth.

Current drilling focused on two untested gaps in the Thunder-Blue Sky trend

As explained in the April 23 news release, approximately 10 holes are planned, mainly to extend the Thunder gold zone southwest toward the Durand Creek fault and partially close the untested gap between the Thunder North and Blue Sky zones.

The first hole, No. 074 on the Thunder zone, has intersected at least two strongly deformed and pyritized intervals typical of both this zone and Thunder North.

A planned extension to hole 073, which was started at Thunder North at the end of the December, 2025, drilling program, has been deferred until a study of current access restrictions along a seasonal creek in this area has been completed. Drilling closer to the creek should then be possible, allowing for shorter and better placed holes in the company's next drilling program.

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 B.C., 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' 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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