Tower closes final tranche of non-brokered private placement

Vancouver, British Columbia--(Newsfile Corp. - July 21, 2026) - Tower Resources Ltd. (TSXV: TWR) (" Tower " or the " Company ") announces it has closed the second and final tranche of its previously announced non-brokered private placement (the " Offering ") with the issuance of 4,001,250 units (the " Units ") at a price of $0.16 per Unit for aggregate gross proceeds of $640,200. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 until July 17, 2027.

The gross proceeds from the sale of the Units will be used for general working capital and corporate purposes. The Company paid finder's fees in connection with the Offering to eligible arm's-length parties in accordance with the policies of the TSX Venture Exchange (the " TSXV "). Consisting of a cash commission of $20,940 equal to 6% of the gross proceeds raised from subscribers introduced by the finder and 130,875 finder's warrants equal to 6% of the securities sold to such subscribers.

Each finder's warrant will be exercisable into one common share of the Company at a price of $0.16 until July 17, 2027 and is non-transferrable. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring November 18, 2026 in accordance with applicable securities laws. Certain directors of the Company participated in the Offering and acquired an aggregate of 200,000 Units.

Such participation constituted a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the securities issued to, nor the consideration to be paid by, such related parties exceeded 25% of the Company's market capitalization, as determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of the Offering because the Company wished to complete the Offering on an expedited basis for sound business reasons.

About Tower Resources Tower Resources Ltd. is a mineral exploration company focused on the advancement of its 100%-owned Rabbit North gold project located in the Kamloops Mining Division of British Columbia and the evaluation of additional exploration opportunities in Canada. On behalf of the Board of Directors Joe Dhami, President and CEO For further information, please contact: Telephone: (778) 996-4730 Email: joedhami@telus.net Website: www.towerresources.ca Reader Advisory This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements are frequently identified by words such as "expects", "anticipates", "intends", "plans", "believes", "may", "will", "would", "potential" and similar expressions.