Tower Resources Announces Optioning of Golden Triangle and Toodoggone Properties
Tower Resources Announces Optioning of Golden Triangle and Toodoggone Properties
Vancouver, B.C. – August 26, 2020 ‐ Tower Resources Ltd. (“Tower” or the “Company”) (TSXV: TWR;
OTCQB: TWRFF) is pleased to announce that geophysical field work on the Company’s Nechako property
in central B.C. has been completed and a diamond drilling contract has been awarded for the upcoming
2000‐metre program focused on expanding the recently announced Discovery Zone along the April Trend.
The Company is currently awaiting IP interpretations to finalize the designs of and coordinate the RC and
diamond drilling programs.
As a result of Tower’s concentrated focus on its Nechako property, the Company has entered into an
arm’s length transaction with Volatus Capital Corp. (“Volatus ”) (CSE: VC), pursuant to which Tower
proposes to sell its 100% interests in and to the More Creek property (the “More Option ”) in the
Golden Triangle area of northwestern B.C. and the Belle property (the “Belle Option ”) in the
Toodoggone area to the east.
To exercise the More Option and earn a 100% interest in five mineral claims (6,430 ha), Volatus is
required to make a total of $150,000 in cash payments, issue 100,000 common shares and complete
$600,000 in expenditures associated with the exploration and development of the More Creek
property over a 36‐month period. Tower will retain a 1% net smelter returns royalty on the More Creek
property of which 0.5% can be repurchased for $500,000.
To exercise the Belle Option and earn a 100% interest in seven claims (1,691 ha), Volatus is required to
make a total of $100,000 in cash payments and issue 500,000 common shares over a 36‐month
period. Volatus must also fulfill all work commitments required to keep the Belle property in good
standing.
Mr. Joe Dhami, Tower’s President and CEO, comments, "Our drilling success at Nechako and the recent
acquisition of the nearby Blackwater gold deposit by Artemis has mandated that we focus our exploration
on the Nechako area. At the same time, given current market interest, Tower has elected to monetize the
More Creek and Belle projects in the prolific Golden Triangle and Toodoggone areas under terms that will
advance the exploration and development of these properties.”
About Volatus
Volatus is focused on exploration and development of resources in gold and copper in the Toodoggone
District of Northern British Columbia, and metals in the green economy that have strong demand profiles
such as magnesium metal.
National Instrument 43‐101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. Stuart Averill,
Chairman of ODM, a Director of 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 and the
Nechako gold project near New Gold’s Blackwater project in northern British Columbia.
On behalf of the Board of Directors
Tower Resources Ltd.
Joe Dhami, President and CEO
(778) 996‐4730
www.towerresources.ca
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