VANCOUVER, B.C. - Tower Resources Ltd. (the "Company")(TSXV: TWR) announces that it has arranged, subject to regulatory approval, a non-brokered private placement of up to 8,750,000 units of the Company at a price of $0.08 per unit for gross proceeds of up to $700,000. Each unit is to consist of one common share and one non-transferable common share purchase warrant exercisable at $0.15 for a period of eighteen months. Net proceeds from the private placement will be used for exploration and general working capital purposes.
Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.