Tower Reports Initial Assay Results from Its June Diamond Drilling Program at Rabbit North, Intersects 18.8 m of 2.57 g/t Au near Top of Thunder Zone

Tower Resources Ltd. (TWR) has released initial gold assay results for the first three holes—RN26-074 to RN26-076—from its June 2026 diamond drilling program at the Rabbit North property near Kamloops, B.C. The company drilled eight holes for a total of 2,303.5 m, testing three of four intended targets. The fourth target, a historical gold intersection located east of the main area, was not followed up due to forest-fire risk preventing access.

Hole RN26-074 intersected the Thunder gold zone. The results include an interval from 99.00 m to 117.80 m grading 18.80 m @ 2.57 g/t Au. This encompasses a higher-grade section from 99.00 m to 106.30 m grading 7.30 m @ 5.74 g/t Au, which further includes a narrow high-grade interval from 101.00 m to 101.70 m grading 0.70 m @ 43.00 g/t Au. The remainder of the main intersection, from 106.30 m to 117.80 m, graded 11.50 m @ 0.55 g/t Au. Additionally, a separate undetermined interval from 136.00 m to 137.00 m returned 1.00 m @ 2.64 g/t Au.

Hole RN26-075 did not intersect significant gold in the target zone but cut the Rainbow Cu-Au-Mo breccia pipe. Assays from this hole show an interval from 126.20 m to 130.50 m grading 5.30 m @ 0.71 g/t Au, 0.38% Cu, and 0.015% Mo. Another interval from 143.90 m to 166.50 m graded 22.60 m @ 0.56 g/t Au, 0.35% Cu, and 0.012% Mo. Hole RN26-076 encountered no significant mineralization.

The release notes that true widths have not been determined and gold values are uncut. The minimum reporting threshold for orogenic gold is set at 1 g/t Au over 1.0 m. Assay coverage remains incomplete, with 568.9 m of core still uncut, primarily in holes RN26-078, RN26-080, and RN26-081. The company states that the assay release for cut sections will be delayed until the intervening uncut sections are available.

Tower Resources Ltd. (TWR) is a pre-resource junior explorer with no revenue and no operating cash flow, meaning exploration results serve as the primary value driver. The company’s recent release did not materially de-risk or grow the deposit, providing only one moderate Thunder intercept and two failed western step-out attempts.

The market has round-tripped since reaching a 52-week high of C$0.25 in January 2026, with the stock falling back to C$0.14, equal to the prior 2025 low. The market has not re-rated substantially on the earlier high-grade hole RN25-072, so this release is not being judged against an elevated price that assumes repeated bonanza hits.

Nevertheless, the delta versus the anchor is clearly negative: 48 gram-metres versus roughly 287 gram-metres, and two of three holes missed. Because the price is already at the 52-week low, this is not classified as a thesis-destroying or company-specific material negative, but it is a modest negative result with no positive surprise. Pending assays from the uncut core could still change the picture, but this release alone does not support accumulation.

Tower Resources Ltd. is a Canadian junior mineral exploration company listed on the TSX Venture Exchange. Its primary asset is the Rabbit North property near Kamloops, B.C., an orogenic gold system discovered by till sampling and drilling, with associated porphyry Cu-Au-Mo potential. Other projects include Nechako Gold and More Creek, but exploration there has been deferred to conserve capital.

Financials show no revenue, positive working capital of about C$1.4 million as of Q1 FY2026, and a net loss in Q1 FY2026 of C$86,625 after C$906,507 of exploration spending. The company explicitly states a going-concern risk and dependence on equity financing. Share count has grown from about 173.3 million in Q1 FY2026 to roughly 183.3 million after July 2026 placements, indicating continuing dilution.