12:19:21 EDT Thu 23 Apr 2026
Enter Symbol
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Tower Resources Ltd.
Symbol TWR
Shares Issued 173,281,101
Close 2026-04-22 C$ 0.165
Market Cap C$ 28,591,382
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ORIGINAL: Tower Receives Permit for New Diamond Drilling Program at Rabbit North

To Close the Untested Gap Between the Thunder North and Blue Sky Gold Zones, Extend the Thunder Zone Further West and Investigate an Outlying Historical Au Occurrence 1 Km Northeast of Blue Sky

2026-04-23 07:01 ET - News Release

Vancouver, British Columbia--(Newsfile Corp. - April 23, 2026) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that its application to resume diamond drilling on its Rabbit North orogenic gold discovery in the heart of the Kamloops porphyry Cu mining district (see Fig. 1) has been approved and mobilization of the drill rig is underway.

Fifteen new drill sites have been approved and drilling is planned at a minimum of ten 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 press release) will be extended southeast to its targeted 300 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 1 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.

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Figure 1 - Geology of the central part of the Rabbit North property showing the major shear structures controlling Tower's gold discoveries. These shear zones are roughly coincident with more recent graben fault valleys that have been infilled by Chilcotin basalt flows. The yellow stars mark the locations of the main Au intersections in the initial discovery holes on the gold zones. Areas targeted in the current drill program are highlighted.

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Figure 2 - Significant gold intersections in the Thunder and Thunder North zones. Areas targeted in the current drill program are highlighted. See Fig. 1 for bedrock lithologies and expanded legend.

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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 (see Figs. 1 and 2). 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 (see Figs. 1 and 2) - westward at 50 m intervals toward the Durand Creek Fault which is incised by a deep valley.

Historical Au Intersection

A vertical percussion hole drilled on the Durand Stock ~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 g/t Au (see Fig. 1). 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 November 3, 2025 press 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, P.Geo., a director of the Company and a Qualified Person as defined by National Instrument 43-101

About Tower Resources

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.

On behalf of the Board of Directors
Tower Resources Ltd.

Joe Dhami, President and CEO
(778) 996-4730
www.towerresources.ca

Reader Advisory

This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293922

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