Tower Receives Partial Assays for Rabbit North Drill Holes 50 to 54; Connects Lightning and Thunder Zones with High-Grade, 6.06 g/t Au Intersection over 4.27 m in Untested 450 m Gap between Zones

Vancouver, September 26, 2024 - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report that it has received assays for two-thirds of the core samples from its initial 2024 drilling program on the Rabbit North property in the heart of the Kamloops mining district (see Fig. 1), and is readying a follow-up drilling program based on the positive Au results obtained.

Assayed Drill Holes

The initial drilling campaign comprised five shallow (-50°) drill holes, Nos. RN24-050 to 054 (see Fig. 2 and Table 1). Due to a core saw issue, only two-thirds of the core was cut and submitted for assay at the end of the drilling program and has now been analyzed.

Three of the five drill holes, Nos. 051, 053 and 054, targeted Au mineralization along the southern (Lightning-Thunder) and central (Thunder North) shear trends. Complete assays have been received for Holes 51 and 54.

Gold Highlights

Hole 051 was drilled roughly halfway along the previously untested 450 m gap in the southern shear trend between the Lightning and Thunder Gold Zones (see 3D gold model and hole location map below) to test for continuity of the gold mineralization between these zones. It succeeded not only in confirming continuity of the mineralization but also returned the highest average Au grade obtained to date from the Lightning-Thunder trend - 6.06 g/t over 4.27 m including 24.0 g/t over 0.7 m (see Table 1).

Block model of the shear-hosted Thunder, Thunder North and Lightning Au zones. The Au component of the Rainbow porphyry Cu-Au zone is included. Note the strategic location of the new, high-grade Hole 051 intersection midway between the Lightning and Thunder Gold Zones.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5023/224687_3c55d2b4d49d3ba9_002full.jpg

Significant Au intercepts from Tower's drill holes in the Lightning-Thunder gold area. Note the strategic location of the new, high-grade Hole 051 intersection midway between the Lightning and Thunder Gold Zones.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5023/224687_3c55d2b4d49d3ba9_003full.jpg

Hole 054 was drilled ~60 m west of and parallel to the Thunder North discovery hole, No. 039 (10.2 m of 1.46 g/t Au and 15.6 m of 2.41 g/t Au separated by a barren 4.5 m dyke) on the central trend (see Fig. 2). It intersected a similar thickness of favourably sheared and mineralized (pyritized) ash tuff and quartz-feldspar porphyry dykes. This mineralized section contained only anomalous levels of gold but was obtained at a shallower depth and confirms that the Au-fertile shear trend continues significantly westward into the magnetically active area that was previously thought to be prospective only for porphyry Cu-Au-Mo mineralization.

Pending Assays

The assays for Holes 050, 052 and 053 will be reported later. Hole 050 targeted a magnetic high north of the Rainbow porphyry Cu-Au-Mo Zone (see Fig. 2) which is hosted by magnetite-rich magmatic-hydrothermal breccia. No core was obtained from the upper part of the hole and the missing section was re-drilled as Hole 052. Complete assays have been received for the Hole 050 (lower) core but not for Hole 052 (upper) core. No assays are currently available for Hole 53 which targeted the eastern part of the auriferous central shear trend northeast of the Lightning Zone (see Target 1 of Fig. 2).

Follow-up Drilling Plans

Follow-up drilling will build systematically on the indicated continuity of the Thunder-Lightning and Thunder North gold trends using a mix of infill, stepout and steeper (i.e. deeper) holes.

Methods and Qualified Person

The drill core was logged at Tower's leased, fully equipped core facility near Kamloops by Matthew Husslage, P.Geo. and Sean Jubinville, G.I.T. 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, BC, a laboratory certified as ISO/IEC 17025 Accredited (Lab 790) by the Standards Council of Canada. QA/QC samples including blanks and standards were inserted regularly into the sample sequence at a ratio of approximately 1:20.

The samples were analyzed for Au by fire assay and ICP-OES and for Ag and 36 additional elements by ICP-OES using a four-acid, near-total digestion. Any over-limit (>5 g/t) Au 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, 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 copper-gold porphyry 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.

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.

Figure 1 - Location of the Rabbit North property.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5023/224687_3c55d2b4d49d3ba9_004full.jpg

Figure 2 - Locations of Holes 050 to 054 relative to the five targets of the 2024 drilling program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5023/224687_3c55d2b4d49d3ba9_005full.jpg

Table 1 - Significant gold intercepts of the shear-hosted type from the Thunder and Lightning trends.
Gold-bearing intercepts of the porphyry Cu-Au type are excluded. Gold values are uncut. Samples
with Au grades greater than 15 g/t are shown individually. True widths have not been determined.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224687