Tower Resources Announces Corporate Update
Tower Resources Announces Corporate Update
Vancouver, B.C. – May 29, 2018 ‐ Tower Resources Ltd. (“Tower” or the “Company”) (TSXV: TWR)
is pleased to provide an update with respect to the Company’s ongoing exploration activities and
plans for 2018.
Corporate
Over the past 2 months Tower has undergone a number of changes on the corporate side of the
business with the appointment of Garett Macdonald, MBA, P.Eng. a s P r e s i d e n t & C E O , L e s i a
Burianyk, CPA, CA as interim CFO and Darrel Hyde, P.Geo. as Exp loration Manager. At the April
30th AGM the Company appointed a new Chairman and two new members to the Board of
Directors. The board now consists of Gerry Shields, LLB (Chair man), Stuart Averill, P.Geo., James
Clark, MBA, P.Eng., Nick Nikolakakis, MBA and Garett Macdonald. This group brings a wealth of
experience and a recognized track record in the discovery, fina ncing, engineering and
development of resource projects to the Tower team.
To complement Tower’s highly prospective and well located explo ration projects, the Company
also plans on securing a more advanced project with a current NI 43‐101‐ compliant resource
estimate. Tower’s focus will be on advanced stage gold and copp er projects in North America,
leveraging the team’s experience in developing projects through from concept to development.
“The combination of early stage exploration projects together with the right advanced stage
development asset will set Tower up to better realize sharehold er value” noted Garett
Macdonald, President & CEO.
2018 Exploration
Nechako ‐ The 2017 till sampling program (see press release dated May 15th, 2018) identified
a highly anomalous sulphide dispe rsal train carrying elevated g rades of gold, silver, copper,
lead and zinc in an area of the project that is largely unexplo red. Plans for the year include
approximately 2,000 metres of diamond drilling and potentially additional reverse circulation
(RC) drilling of the structural and porphyry targets identified by the till sampling program. The
Company also plans to complete additional geophysical surveys and sampling in sections of
the property with exposed outcrop.
Rabbit North ‐ This year Tower will be focused on expanding on the excellent results from the
p r e v i o u s e x p l o r a t i o n p r o g r a m s w i t h a w o r k p r o g r a m c o n s i s t i n g o f additional mapping,
sampling, geophysical surveys, core re‐logging and up to 2,000 metres of diamond drilling in
the second half of the year. Additional shallow RC drilling may also be completed to target
the diamond drill program. Rabbit North is a large copper‐gold porphyry project measuring 4
km x 4 km and situated between two large scale operating mines, Teck’s Highland Valley
Copper open pit mine (average reserve grade 0.3% Cu) and New Go l d ’ s N e w A f t o n
underground mine (average reserve grade 0.78% Cu, 0.6 gpt Au and 2.0 gpt Ag). Previous
results at Rabbit indicate the potential for high grade copper‐ gold mineralization over
significant widths as evidenced by drill hole RN17‐015 at the Western Magnetite Zone, which
returned 247m @ 0.75% CuEq, inclu ding 37.9m @ 1.22% CuEq). Else where on the property,
previous work identified narrower zones of high grade gold mineralization including drill hole
97‐07, which intersected 8m @ 15.4 gpt Au.
V o i g t b e r g a n d M o r e C r e e k ‐ The Voigtberg and More Creek projects are early stage
exploration projects in the Golden Triangle area of British Col umbia. Tower plans to
systematically explore both projects this year, with detailed geological and geochemical work
and drill‐target definition within the extensive surface altera tion and mineralization exposed
o n t h e p r o p e r t y . P r e v i o u s e x p l o ration at Voigtberg includes thr ee diamond drill holes
completed by Hemlo Gold Mines/Hayden Resources in 1996 and eight diamond drill holes in
2006/2007 by BCGold Corp. for a total of 1760m testing two of f ive main
showings. Identification of high grade gold and widespread gold‐copper mineralization in
rock and soil samples was follo wed up with diamond drilling at the Gold Zone and the North
Zone showings. Mineralization was intersected in all holes dril l e d a t t h e G o l d a n d N o r t h
Zones, with notable intervals of gold‐copper mineralization reported from the Gold Zone drill
holes. Highlights from historic drill testing include 51.2 m of 1.03 g/t Au including 18.2m of
1.87 g/t Au in drill hole VGT06‐05, collared at the Gold Zone.
National Instrument 43‐101 Disclosure
The technical content of this news release has been reviewed and approved by Darrell Hyde,
P.Geo., Exploration Manager for the Company and Qualified Perso n a s d e f i n e d b y N a t i o n a l
Instrument 43‐101.
About Tower Resources
Tower is a Canadian based mineral exploration company focused o n the discovery and
a d v a n c e m e n t o f e c o n o m i c m i n e r a l p r o j e c t s i n t h e A m e r i c a s . T h e Company’s key exploration
assets are the Rabbit North copper‐gold porphyry project locate d between the New Afton and
Highland Valley Copper mines, the Nechako gold project near New Gold’s Blackwater project and
t h e M o r e C r e e k & V o i g t b e r g g o l d p r o j e c t s i n t h e G o l d e n T r i a n g l e a r e a o f N o r t h e r n B r i t i s h
Columbia.
On behalf of the Board of Directors,
Tower Resources Ltd.
Garett Macdonald, President, CEO & Director
(437) 344‐9958
www.towerresources.ca
Reader Advisory
This news release may contain st a t e m e n t s w h i c h c o n s t i t u t e “ f o r ward‐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”, “a nticipate”, “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 activi ties and involve risks and
uncertainties, and that the Company’s future business activitie s 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, s uccesses of the operations of t he Company, continued availability
of capital and financing and general economic, market or busine ss conditions. There can be no
assurances that such information will prove accurate and, there fore, 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 fo r the adequacy or accuracy of this
release.