Tower Announces Closing of Final Tranche of Non-Brokered Private Placement

Tower Resources Ltd. has closed the second and final tranche of its previously announced non-brokered private placement. The company issued 4,001,250 units at $0.16 per unit, generating $640,200 in gross proceeds. Each unit consists of one common share and one-half of a common share purchase warrant. Warrants are exercisable into one common share at $0.25 until July 17, 2027. Proceeds are designated for general working capital and corporate purposes. Directors participated in the transaction as a related party transaction, relying on MI 61-101 exemptions. All securities are subject to a statutory hold period expiring November 18, 2026. Finder's fees included a 6% cash commission and 130,875 non-transferrable finder's warrants.

Tower Resources Ltd. (TWR) is closing the final tranche of its financing, an expected incremental follow-up to the $1.72 million offering announced in June 2026. The transaction extends the company's cash runway, allowing for continued exploration at the Rabbit North project without immediate dilution shocks.

The deal is fully in line with previous expectations and does not introduce new strategic partnerships, material operational changes, or unexpected valuation drivers. Dilution is moderate and consistent with standard junior explorer financing practices, with no material impact on the stock price anticipated beyond routine market absorption.

Tower Resources Ltd. (TWR) is a pre-revenue junior explorer focused on the Rabbit North orogenic gold project in the Kamloops porphyry Cu-Au district of British Columbia. The flagship project features two primary zones: Blue Sky and Thunder North. Recent drilling has successfully expanded the near-surface open-pit resource potential at Blue Sky and extended the high-grade Thunder North zone.

Notable intercepts include 40.05 g/t Au over 6.3 m in Hole 072 and 6.02 m @ 23.63 g/t Au in Hole 060. The company utilizes a proprietary till gold-grain survey methodology to identify hidden mineralization beneath glacial cover, achieving a historic ~50% drill hole hit rate. Management emphasizes a process-driven approach to de-risk an economic, near-surface gold resource with predictable strike and dip.