Blue Sky Discovery Delivers for Tower as Expected; Hole 55 Intersects 31.5 m of 4.15 g/t Au, Hits Seven Overlying Gold Zones Including 9.0 m of 2.92 g/t Au

Vancouver, December 23, 2024 - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") is pleased to report complete gold assays from Blue Sky discovery hole RN24-055 on the Rabbit North property in the heart of the Kamloops mining district (see Fig. 1). These assays confirm earlier indications from partial assays (see October 31 press release) that Blue Sky is Tower's most illuminating discovery to date, revealing both the scale and Au grade potential of the gold structures.

Hole 055 Au Results

The Blue Sky intersection in Hole 055 spans 31.5 m, from 255 to 286.5 m down hole, and averages 4.15 g/t Au (see Table 1). Seven other gold zones, all diorite hosted like Blue Sky, were intersected higher in the hole, and all but one of the intervals between zones are highly anomalous, suggesting potential for both open pit and underground development. The closest zone, only 15 m above and potentially connected to Blue Sky, returned 2.92 g/t over 9.0 metres.

At Hole 55 the diorite occurs under ~63 m (vertical thickness) of cover comprised of 1 m of glacial till, 48 m of Chilcotin basalt flows (see Fig. 2) and 14 m of saprolite. However, the extremely high gold grain content of the till ~100 m to the south (i.e. down-ice) at the head of the Dominic Lake gold dispersal train (see Fig. 3) suggests that Blue Sky surfaces just north of the basalt.

The diorite immediately below the saprolite, 72.6 m down-hole, and in six of the seven intervals between gold zones, is highly anomalous, typically averaging ~0.3 g/t Au - a common cut-off grade in open pit gold mines.

Table 1 - Significant gold intercepts of the shear-hosted type from Hole 55. Samples with Au grades greater than 15 g/t are shown individually. True widths have not been determined.

Figure 2 - Location of the new Blue Sky gold zone relative to the Thunder and Lightning Au trends and the Durand Stock. The Au grade x metres value for significant Au intersections in previous drill holes are used by Tower for exploration targeting only; they are not indicative of the economic potential of the mineralization.

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In addition to its attractive width and grade, the Blue Sky mineralization is of a favoured type. Both the upper and lower contacts are easily recognizable visually. The gold grade is relatively uniform and not influenced by erratic high-grade "outliers"; the highest and lowest Au grades obtained from 35 core samples spanning the 31.5 m zone were 17.10 and 0.44 g/t, respectively. Arsenic and other deleterious elements are absent.

The highest Cu value, 1.96% representing ~5.7% chalcopyrite, was obtained from the coarsely chalcopyrite-veined section pictured in the October 31 news release. The visual estimate of 10% chalcopyrite reported for the pyrite-rich core section in the lower part of the gold zone is not supported by the Cu analyses, with the highest value being 0.25%. Copper is not necessarily a beneficial element in gold deposits because it can increase gold extraction costs.

Overdue Hole 053 Au Results

Hole 53 was drilled in Tower's earlier June drilling program but the core could not be cut at that time because the core saw failed and required significant repairs. The core was cut and assayed during the October campaign, along with that from Hole 052 on the Rainbow porphyry Cu-Au-Mo zone and new Holes 055 to 058.

Hole 053 was drilled near the apparent head of the Dominic Lake Train (see Fig. 3) in search of its bedrock source. With Hole 055 subsequently locating the source, it is now apparent that Hole 053 was collared too far south. The hole did not intersect any significant gold zones but was only 147 m long, leaving a 100 m untested gap between its termination and the top of the mineralized diorite in Hole 055.

Next Steps

The laboratory analyses for Holes 056 to 058 have now been received and are being evaluated. The Company expects to release these results early in the new year, probably in two batches starting with Hole 056 on Thunder North because Holes 057 and 058 targeted a different trend, Thunder-Lightning, as outlined in the Company's October 31 news release.

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 Ryan Parsons, 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 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.

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.

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Figure 3 - Location of the new Blue Sky Au discovery in relation to the Dominic Lake gold grain dispersal train in the glacial till. Blue Sky appears to account for the strong central part of the train.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234837