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Tower Resources Ltd
Symbol TWR
Shares Issued 183,282,352
Close 2026-08-12 C$ 0.14
Market Cap C$ 25,659,529
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Tower Resources drills 18.8 m of 2.57 g/t Au at Rabbit N

2026-08-13 15:40 ET - News Release

Mr. Joe Dhami reports

TOWER REPORTS INITIAL ASSAY RESULTS FROM ITS JUNE DIAMOND DRILLING PROGRAM AT RABBIT NORTH, INTERSECTS 18.8 M OF 2.57 G/T AU NEAR TOP OF THUNDER ZONE

Tower Resources Ltd. has released the gold results for the first three holes of the June diamond drilling program on the company's Rabbit North property near Kamloops, B.C.

Drilling summary

Eight holes totalling 2,303.5 metres were drilled. Three of the four intended targets (see April 23, 2026, press release) were tested, all in the main discovery area. The historical gold intersection farther east in percussion hole No. 1990-05 was not followed up because the risk of forest fires was too high to access the site.

The assay results presented herein are from the first three drill holes, RN26-074 to RN26-076, which targeted the possible western extension of the Thunder gold zone toward the Durand Creek fault. The geologically older Rainbow porphyry copper-gold-molybdenum breccia pipe, which occurs in the same area, was also intersected but was not specifically targeted.

Results

The Thunder gold zone and the larger Thunder North gold zone appear to be the western and eastern parts of a single mineralized structure that has been offset by a minor, southeast-trending fault -- probably a daughter of the major, subparallel Durand Creek fault to the southwest. Holes RN26-074 to RN26-076 were drilled 50 metres apart in the 250-metre gap between these faults with the goal of extending the known part of the Thunder zone farther southwest.

The first hole, RN26-074, successfully intersected the Thunder zone beginning 70 metre svertically below surface in andesitic tuff covered by approximately 35 metres of glacial till and Chilcotin basalt flows. The mineralized section comprises a high-grade upper zone that averaged 5.74 grams per tonne gold over 7.3 m, including 43 g/t Au over 0.7 m and a low-grade lower zone that averaged 0.55 g/t Au over 11.5 m (see Table 1).

Holes RN26-075 and RN26-076 to the west intersected shear-resistant andesite flows rather than shear-prone tuff; consequently, they did not encounter any significant gold mineralization. The abrupt change in volcanic stratigraphy suggests that another southeast-trending daughter fault is present between holes RN26-074 and RN26-075. Hole RN26-075 did, however, reach the older Rainbow Cu-Au-Mo breccia pipe, where it passed through two mineralized sections 13.4 m apart that returned 0.38 per cent Cu, 0.71 g/t Au and 0.015 per cent Mo over 5.3 m and 0.35 per cent Cu, 0.56 g/t Au and 0.012 per cent Mo over 22.6 m (see Table 1).

Operating constraints

British Columbia is currently experiencing an unusually active exploration season and, consequently, a shortage of experienced drilling and geological crews. The risk of forest fires is also extreme due to unusually dry conditions.

Tower was able to secure experienced crews in June, prior to the annual rush to the Golden Triangle in the north, where the exploration season extends only from July to September. All of the core was logged but 568.9 m remain uncut, primarily in holes RN26-078 and RN26-080 on the Blue Sky target and hole RN26-081 on Thunder North. Since the gold zones at Rabbit North tend to be tens of metres wide and most of the cut core sections in these holes were narrow, release of the assays from the cut sections will be delayed until the assays from the intervening uncut sections are available.

Methods and qualified person

The drill core was logged at Tower's leased, fully equipped core facility near Kamloops by and/or under the direction Matthew Husslage, PGeo. Mr. Husslage has managed or co-managed all of Tower's Rabbit North diamond drilling programs since the discovery of the Lightning zone in December, 2021.

Split samples of the core, generally 1.0 or 1.5 m in length, were delivered directly to Activation Laboratories (ActLabs) in Kamloops, B.C., a laboratory certified as ISO/IEC 17025 accredited (Lab 790) by the Standards Council of Canada. Quality assurance/quality control samples, including blanks and standards, were inserted regularly into the sample sequence at a ratio of approximately 1:20.

The samples were analyzed for gold by fire assay and ICP-OES and for silver and 36 additional elements by ICP-OES using a four-acid, near-total digestion. Any overlimit (greater than five g/t) gold analyses were repeated using the same fire assay procedure but with a gravimetric rather than ICP finish.

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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