Tower Announces $2,000,000 Non-Brokered Flow-Through Private Placement

Executive Summary

• Tower Resources announced a non‑brokered flow‑through private placement of up to 8 million common shares at $0.25 per share, targeting gross proceeds of up to $2 million.
• Net proceeds will be used for Canadian Exploration Expenses, principally a 3,000‑metre diamond drilling program on the Rabbit North property and follow‑up work from a recent 70‑sample till gold‑grain survey.
• The offering includes a 6% cash finder's fee and compensation warrants (exercisable at $0.25) equal to 6 % of the shares sold, with a four‑month‑plus hold period on all securities issued.

Key Details

• Offering size: Up to 8,000,000 common shares at $0.25 per share → gross proceeds up to $2,000,000.
• Share type: Flow‑through shares qualifying for Canadian Exploration Expenses (CEE) under the Income Tax Act.
• Use of proceeds: Primarily to fund a 3,000 m diamond drilling program on Rabbit North; also to cover expenditures related to the recent gold‑grain till survey results (expected in two weeks).
• Drilling focus: Confirm continuity of high‑grade “Blue Sky” and “Thunder North” zones; 50‑m hole spacing aimed at generating an initial indicated‑level resource estimate for upper portions of these zones.
• Finder’s fee: Cash payment equal to 6 % of gross proceeds raised.
• Compensation warrants: Issued to qualified non‑related parties, exercisable at $0.25 for a 12‑month period; amount equals 6 % of the total number of shares sold.
• Hold period: All securities (including exercised warrants) subject to a hold period expiring 4 months and 1 day after issuance, per TSX Venture Exchange rules.
• Related announcement: Reference to an October 2, 2025 press release detailing the completion of a 70‑sample till gold‑grain survey on Rabbit North, with results pending.

Notable Quotes

• “The net proceeds from this offering will enable us to advance a robust 3,000‑metre drilling program at Rabbit North, building on the promising results of our recent gold‑grain survey,” – Joe Dhami, President and CEO.