Announcement • Jan 19

Tower Resources Ltd. Reports the Results of the First Follow-Up Diamond Drill Holes on the Newly Discovered Rainbow Porphyry Cu-Au-Mo Zone

Tower Resources Ltd. reported the results of the first follow-up diamond drill holes on the newly discovered Rainbow porphyry Cu-Au-Mo zone (two holes) and younger, shear-hosted Thunder Au zone (two holes) on its Rabbit North property in the heart of the Kamloops mining district . Holes 047 and 048, Rainbow Cu-Au-Mo Zone The February 2023 Rainbow Zone discovery holes, Nos. 041 and 042, intersected the eastern edge of the zone which, based on its magnetic response, appears to extend 350 m westward to the Durand Creek Fault (see press release of November 14, 2023). These holes were drilled from the same pad with the steeper hole, No. 042 at -65°, intersecting 72.4 m at an average 0.57% Cu-equivalent grade (0.27% Cu, 0.40 g/t Au, 0.01% Mo). The discovery portion of the Rainbow Zone lies beneath ~10 m of glacial till and 35 m of Miocene basalt cover rocks that infill a narrow (~150 m wide) bedrock trough – an erosional paleo-drainage channel – that cuts westward across the Rainbow Zone to a deeper paleo-valley along the Durand Creek Fault. In discovery Hole 042, the mineralization occurs between vertical depths of ~51 and 116 metres. New holes 048 and 049, were designed to follow the Rainbow Zone westward beneath the basalt flows which, although strongly magnetic, are reverse-polarized and thus tend to cancel the positive magnetic anomaly produced by the magnetite-bearing magmatic-hydrothermal breccica that hosts the Rainbow mineralization. The 150-m-wide paleo-channel traced by the cover basalt was found to deepen rapidly into a canyon in which the entire Rainbow Zone has been eroded at Hole 048 and only the basal 10 m is preserved in Hole 049. However, the preserved section is of a higher grade than the corresponding basal part of the thick intersection is discovery Hole 042. Hole 048 was drilled vertically 50 m west of Hole 042 on the northern edge of the paleo-channel. It did not encounter any basalt, instead intersecting an exceptional 57-m-thick glacial till section followed by a 40 m dyke of post-Rainbow quartz-feldspar porphyry (QFP) to 96.8 m before reaching the targeted magmatic-hydrothermal breccias. Together the till and QFP occupy the same interval as the Rainbow Zone occupies in Hole 042, precluding intersection of the zone. The underlying breccias is, however, weakly mineralized like the corresponding breccias interval directly below the Rainbow Zone in Hole 042. A slightly deeper, high-grade, 8.0 m satellite interval between 154.0 and 162.0 m averaged 0.86% Cu- equivalent (0.45% Cu, 0.59 g/t Au, 0.009% Mo; see Fig. 3 and Table 1), significantly higher than the average 0.57% Cu-equivalent grade of the Rainbow Zone in Hole 042. Hole 049 was drilled at a -50° dip from the same pad as Holes 041 and 042 but in the opposite (southsouthwest) direction. Due to the unforeseen westward deepening of the underlying paleo-channel, it encountered much thicker basalt and only reached the targeted underlying breccia 63 m down-hole at a vertical depth of ~63 m (see Fig. 4). The Cu-equivalent grade of the directly underlying 10 m (core length; true thickness ~8 m) remnant of the Rainbow Zone averages 0.62% (0.29% Cu, 0.51 g/t Au, 0.002% Mo; see Table 1) – significantly higher than the 0.39 grade of the corresponding basal part of the Hole 42 intersection. Interestingly, the host breccia is oxidized and part of the Cu from the primary chalcopyrite has been converted to native copper (see Fig. 5). This may account, in part, for the apparent metal enrichment although Mo appears to be significantly depleted rather than enriched in the upper part of the section. As in Hole 042 other, deeper, lower-grade mineralized zones were encountered. Each of Holes 048 and 049 intersected two of these zones, typically about 20 m thick (see Table 1). These zones occur where the grain size of the magmatic (monzodiorite) matrix of the breccia is finest – ideally aphanitic – indicating that it cooled and crystallized rapidly, trapping the mineralizing hydrothermal fluid phase. Breccia zones with a coarser-grained matrix that cooled more slowly and thus crystallized later tend to be unmineralized. The Rainbow Zone appears to represent the upper part of the breccia chamber where the fluid concentration was highest and the magma crystallized most rapidly. In the slightly deeper and higher grade satellite zone in Hole 048 the magma crystallized so rapidly that it trapped bubbles of the mineralizing fluid which were then replaced by chalcopyrite. Holes 046 and 047, Thunder Au Target As explained in the Company’s November 14 press release, Holes 046 and 047 at the shear-hosted Thunder Au Zone were not drilled to expand the zone but rather to determine whether the two discovery intersections of Holes 039 and 041 from the previous (February 2023) drilling program (see Fig. 2) were from a single, south-southeast striking shear zone or two parallel, east-northeast trending shear zones related to the major Lightning shear trend. The drilling targeted only the area near Hole 039 and the locations of the drill pads were constrained by a protected riparian creek corridor. Partly due to this limitation the first and longer hole, No. 046, did not reach far enough to intersect mineralization that would confirm the east-northeast shear model. Hole 047 was drilled across the trace of Hole 046. It unequivocally discounted the south-southeast shear model and thereby indirectly confirmed that there are two parallel, east-northeast trending gold zones, Thunder North and Thunder South. Next Steps With Holes 048 and 049 clearly showing that the cover basalt follows and fills in a 150-m-wide paleochannel that cuts across and locally has eroded through the Rainbow Cu-Au-Mo Zone, the next drilling program will focus on those portions of the Rainbow-associated magnetic anomaly on either side of the basalt. Since the magnetic target is large, measuring ~350 x 1200 m, wider 100 m step-outs are planned, with the initial holes drilled vertically. Also, since most of the deeper, satellite Cu-Au-Mo zones intersected below the Rainbow Zone in Holes 042, 048 and 049 are not of a sufficient grade to be of immediate economic interest, most drill holes will be terminated about 50 m below Rainbow unless strong mineralization is still present at that depth. This will allow more holes to be drilled and a significant portion of the Rainbow magnetic target to be tested by the drilling program. Follow-up drilling is also planned for Thunder South, the higher grade of the two Thunder Zones with Discovery Hole 041 obtaining two closely spaced (10 m apart) intersections averaging 3.28 g/t Au over 13.25 m and 2.19 g/t Au over 10.12 m at a shallow depth of ~100 metres. As Thunder South lies south of the protected riparian corridor and can be accessed from this side, it can be tested efficiently with relatively short, 150 to 200 m drill holes.

Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

Historical stock prices
Current Share Price	CA$0.092
52 Week High	CA$0.16
52 Week Low	CA$0.07
Beta	-0.87
1 Month Change	6.98%
3 Month Change	0%
1 Year Change	64.29%
3 Year Change	35.29%
5 Year Change	132.91%
Change since IPO	-63.20%

	T7Y1	DE Metals and Mining	DE Market
7D	1.1%	-3.9%	-2.5%
1Y	64.3%	37.8%	-0.6%

T7Y1 volatility
T7Y1 Average Weekly Movement	7.8%
Metals and Mining Industry Average Movement	8.9%
Market Average Movement	5.4%
10% most volatile stocks in DE Market	12.7%
10% least volatile stocks in DE Market	2.8%

T7Y1 fundamental statistics
Market cap	€16.09m
Earnings (TTM)	-€1.91m
Revenue (TTM)	n/a

T7Y1 income statement (TTM)
Revenue	CA$0
Cost of Revenue	CA$0
Gross Profit	CA$0
Other Expenses	CA$3.09m
Earnings	-CA$3.09m

Earnings per share (EPS)	-0.018
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	0%

Data	Last Updated (UTC time)
Company Analysis	2026/07/12 17:29
End of Day Share Price	2026/07/10 00:00
Earnings	2026/04/30
Annual Earnings	2025/10/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Tower Resources (T7Y1) Stock Overview

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Price History & Performance

Recent News & Updates

Tower Resources Ltd. announced that it expects to receive CAD 1.72 million in funding

Insufficient new directors

Tower Resources Ltd. announced that it has received CAD 2.157 million in funding

Tower Resources Ltd. announced that it expects to receive CAD 2 million in funding

Tower Resources Ltd., Annual General Meeting, Sep 26, 2025

Tower Resources Ltd. Reports Gold Assays from the First Two of Four Holes

Recent updates

Tower Resources Ltd. announced that it expects to receive CAD 1.72 million in funding

Insufficient new directors

Tower Resources Ltd. announced that it has received CAD 2.157 million in funding

Tower Resources Ltd. announced that it expects to receive CAD 2 million in funding

Tower Resources Ltd., Annual General Meeting, Sep 26, 2025

Tower Resources Ltd. Reports Gold Assays from the First Two of Four Holes

Tower Resources Ltd. Commences Spring Drilling Program At Rabbit North Focusing on Blue Sky Discovery

Tower Resources Ltd. Reports Complete Gold Assays from Hole R24-056 on the Thunder North Gold Zone on the Company's Rabbit North Property in the Heart of the Kamloops Mining District

Tower Resources Ltd. Reports Complete Gold Assays from Blue Sky Discovery Hole R24-055 on the Rabbit North Property in the Heart of the Kamloops Mining District

Tower Resources Ltd. announced that it has received CAD 0.8 million in funding

Tower Resources Ltd. announced that it expects to receive CAD 0.8 million in funding

Tower Resources Ltd. Commences Fall Drill Program

New major risk - Financial position

Tower Resources Ltd. 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

Tower Resources Ltd. Completes First Phase of 2024 Drilling Program At Rabbit North

New major risk - Market cap size

Tower Resources Ltd. announced that it has received CAD 0.408 million in funding

Tower Resources Ltd. announced that it expects to receive CAD 0.408 million in funding

Tower Resources Ltd. Initiates 2024 Drill Plan

Tower Resources Ltd. Prepares to Resume Drilling at Rabbit North, Focuses on Prime Au and Porphyry Cu-Au Targets

Tower Resources Ltd. announced that it expects to receive CAD 0.5 million in funding

New major risk - Market cap size

Tower Resources Ltd. Reports the Results of the First Follow-Up Diamond Drill Holes on the Newly Discovered Rainbow Porphyry Cu-Au-Mo Zone

Tower Resources' Gold Grain Sampling on the More Creek Property in B.C.'S Prolific Golden Triangle Locates A New Gold Source Straddling the Key Red Line Rift Structure

New major risk - Market cap size

New major risk - Financial position

Tower Resources Ltd. Provides Exploration Update on Its B.C. Properties

Tower Resources Ltd. announced that it has received CAD 0.45 million in funding

Tower Resources Ltd. announced that it expects to receive CAD 0.45 million in funding

Independent Director recently bought €50k worth of stock

Tower Resources Ltd. Prepares to Start 2000 M Diamond Drilling Program on Three Key Gold Targets at Rabbit North

Insufficient new directors

Insufficient new directors

Insufficient new directors

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