TSX-V: TWR

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Vancouver, B.C. - May 2, 2018 - Tower Resources Ltd. (“Tower” or the “Company”) (TSXV: TWR) is pleased to announce the results of the Company’s Annual General Meeting of Shareholders held on April 30, 2018 (the “AGM”).

A total of 11,005,144 common shares were represented in person or by proxy at the AGM, representing 12.21% of the votes attached to all outstanding common shares of the Company as at the record date. All the matters submitted to the shareholders as set out in the Notice of Meeting and Information Circular dated March 26, 2018, were approved by the requisite majority of votes cast at the AGM, including the ratification of the Company's stock option plan and the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditors of the Company for the ensuing year.

Tower is also pleased to announce that at the AGM, Messrs. Gerald Shields, Stuart Averill and Garrett Macdonald were re-elected and Messrs. Nicholas Nikolakakis and James Clark were appointed to the board of directors of the Company, each bringing with them a breadth of knowledge and experience. Mr. Nikolakakis is presently the Chief Financial Officer of Rubicon Minerals Corporation and was the Chief Financial Officer of Rainy River Resources Ltd. from July 2010 to September 2013. Mr. Clark is presently the Vice President of Project Development for Coeur Mining, Inc. and was previously Senior Operations Manager at Snap Lake Mine for the De Beers Group of Companies from September 2014 to May 2017 and Manager of Asset Optimization, Snap Lake Mine, De Beers Group of Companies from November 2012 to September 2014.

Immediately following the AGM, Mr. Gerald Shields was appointed as Chairman of the board of directors of the Company, Messrs. Nicholas Nikolakakis, Stuart Averill and Gerald Shields were appointed as members of the Audit Committee and Messrs. Gerald Shields, James Clark and Nicholas Nikolakakis were appointed as members of the Compensation Committee.

The Company further announces that it has granted stock options to acquire up to 3,500,000 common shares of the Company, 2,700,000 of which were granted to certain directors and officers of the Company and the remaining to certain consultants, advisors and employees. Each of the stock options is exercisable for a five year term expiring on May 2, 2023 at a price of $0.125 per common share. On May 1, 2018, the last day that the Company's common shares traded prior to the granting of the stock options, the closing trading price of the common shares on the TSX Venture Exchange was $0.125. The options are subject to vesting provisions, with one-third vesting on the date of grant, an additional one-third on the first anniversary of the date of grant and the remaining one-third on the second anniversary thereof. The stock options are non-transferable. Any common shares issued pursuant to the exercise of the stock options will be subject to a four month hold period expiring on September 3, 2018.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. Darrel Hyde, P.Geo., Exploration Manager for the Company and a Qualified Person as defined by National Instrument 43-101.

About Tower Resources Ltd.

Tower is a Canadian based mineral exploration company focused on the discovery and advancement of economic mineral projects in the Americas. The Company’s key exploration assets are the Rabbit North copper-gold porphyry project located between the New Afton and Highland Valley Copper mines, the Nechako gold project near New Gold’s Blackwater project and the More Creek & Voigtberg gold projects in the Golden Triangle area of Northern British Columbia.

On behalf of the Board of Directors,
Tower Resources Ltd.

Garett Macdonald, President, CEO & Director
(437) 344-9958
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.towerresources.ca 

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.