#1TOWER Resources Ltd. TSX-V: TWR GOLD & COPPER EXPLORATION IN BRITISH COLUMBIA Tower Resources Ltd. Corporate Presentation May 2020#2DISCLAIMER Tower Resources Ltd - TSX-V: TWR 2 This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. This presentation does not constitute or form part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Tower Resources Ltd. (the "Company"), nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. This presentation may contain statements and information that may constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements in this presentation, other than statements of historical fact, 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 and operating performance of the Company, are forward-looking statements and contain forward-looking information. 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, all costs varying significantly from estimates, production rates varying from estimates, changes in resource markets, equipment failure, unexpected geological conditions, imprecision in resource estimates or resource recoveries, ability to complete future drill programs, drill program results varying from expectations, delays in obtaining survey results, success of future development initiatives, competition, operating performance, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from local authorities, community relations, and other development and operating risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Although the Company believes that assumptions inherent in the forward- looking statements are reasonable, forward looking statements are not guarantees of future performance and 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. Some of the technical information contained in this presentation is historical in nature and has been compiled from sources believed to be accurate. The technical information has not been verified by the Company and may in some instances be unverifiable dependent on the existence of historical drill core, trench and grab samples. Management also cautions that mineral resources on nearby properties are not necessarily indicative of the results that may be achieved on the subject property. The Qualified Person (QP) for the Company is Mr. Stuart Averill, a Director of the Company and a Qualified Person as defined by National Instrument 43-101.#3INVESTMENT HIGHLIGHTS Tower Resources Ltd - TSX-V: TWR Low cost Au and Cu exploration near major Canadian mining projects including; Blackwater, New Afton, Highland Valley Copper, Brucejack, Red Chris WHY GOLD & COPPER FOCUS? Nechako: Large Au-Ag-Zn-Pb dispersal train identified in till and traced to bedrock source area utilizing methodology and team that discovered Rainy River and Casa Berardi gold mines. Methodology proven extremely effective at nearby Blackwater Au-Ag deposit. GOLD Scarcity of projects in stable jurisdictions COPPER Demand from electric vehicles & renewable energy projects causing supply deficit Rabbit North: Large, underexplored copper-gold porphyry located between two large operating Cu- Au mines. 3#4MANAGEMENT, BOARD & ADVISORS MANAGEMENT BOARD R. JOE DHAMI President, CEO & Director 20 years experience in capital markets providing end to end corporate advisory services Former marketing consultant with Webtech Wireless Former marketing consultant with Rainy River Resources LESIA BURIANYK CPA, CA, BA | CFO Over 15 years of industry experience serving as CFO for various TSX-V and CSE listed LEAH HODGES Corporate Secretary 14 years of experience providing corporate compliance, administration and governance support to private and public companies in various sectors GERALD SHIELDS LLB | Chairman, Director Founding Member, Director & General Counsel of Rainy River Resources Former President Ryland Oil (acquired by Crescent Point Energy) JAMES CLARK MBA, P.Eng. | Director VP, Project Development, Coeur Mining Former Director of Mining, DeBeers Canada, Snap Lake Mine STU AVERILL P.Geo. Director Founder & Chairman, Overburden Drilling Management (ODM) Former Director, Rainy River Resources Tower Resources Ltd - TSX-V: TWR#5SHARE STRUCTURE Fully Diluted 129,709,275 Obligation Shares Nil Common shares issued and outstanding: Share purchase warrants outstanding: Stock options outstanding: *6,250,000 warrants have a strike price of $0.10 and expire on May 8, 2021 *12,700,183 warrants have a strike price of $0.22 and expire on April 6, 2022 *172,413 warrants have a strike price of $0.22 and expire on May 1, 2022 *250,000 warrants have a strike price of $0.22 and expire on January 16, 2023 *312,500 warrants have a strike price of $0.0375 and expire on December 31, 2023 Tower Resources Ltd - TSX-V: TWR 5 Recent Financing 12,500,000 Units at $0.04 for gross proceeds of $500,000 completed May 8, 2019, 6,250,000 warrants remain exercisable at $0.10 until May 8, 2021. 105,067,435 19,685,096 4,956,744#6PROJECT PORTFOLIO PORTFOLIO OF AU & CU PROJECTS IN BRITISH COLUMBIA – A SAFE AND STABLE MINING JURISDICTION: MORE CREEK Au epithermal project and Au-Cu porphyry projects - north of Stewart, BC in Golden Triangle BELLE Cu-Au porphyry project – northwest of the Kemess Mine NECHAKO GOLD Au-Ag-Zn-Pb stratiform target (Eskay Creek type) - south of Vanderhoof, BC RABBIT NORTH Cu-Au porphyry project - southwest of Kamloops, BC Red Chris GJ Galore Creek Tower Resources Ltd - TSX-V: TWR 6 Brucejack KSM Kemess Mt. Milligan Endako Mine Barkerville Gold Blackwater Gibraltar New Afton Highland Valley Afton/ Ajax VANCOUVER Brenda#7NECHAKO GOLD PROJECT YUKON TERRITORY BRITISH COLUMBIA NORTHWEST TERRITORIES ALBERTA Blackwater Nechako Tower Resources Ltd - TSX-V: TWR Madrid Doris Amaruq Meadowbank SASKATCHEWAN Meliadine NUNAVUT MANITOBA Hudson Bay ONTARIO Rainy River Figure 3 - Locations of the other seven known Nechako-sized gold dispersal trains in Western Canada. Note that six are from active Au mines and the seventh (Blackwater) is from a large undeveloped Au deposit near Nechako. 7#8NECHAKO GOLD PROJECT Twelve mineral claims totalling 5,940 hectares located 80 km south of Vanderhoof. excellent road access. Historically explored for Cu-Au porphyry mineralization. Strong new evidence of stratiform Eskay Creek type Au-Ag-Zn-Pb mineralization along April Trend 30km NE of New Gold's Blackwater Gold Project (2P Reserves 8.2Moz Au with 60.8 Moz Ag). Capoose (New Gold) Ind: 20 Mt @ 0.5 g/t Au, 22 g/t Ag Inf: 29 Mt @ 0.4 g/t Au, 26 g/t Ag Stub Brewster 30 km Tower Resources Ltd - TSX-V: TWR Vanderhoof Pop: 4,439 Nechako Gold Lakes Roads Blackwater (New Gold) 2P: 344 Mt @ 0.74 g/t Au, 5.5 g/t Ag Nachako Gold 5 10 kilometers 8#9NECHAKO GOLD PROJECT PAST - Ice sheet scrapes over deposit Deposit Ice Surface Tower Resources Ltd - TSX-V: TWR 9 PRESENT - Resulting overburden contains sulphide grains in a dispersal train. RC sampling used to collect samples. Deposit Bedrock Reverse Circulation drill rig collecting Nechako till samples; bedrock was also sampled 0.25 mm Overburden Surface 茶 Sulphide dispersal train Bedrock Heavy Metal Concentrates (HMC) produced from till samples in lab to target diamond drilling. HMC NRC-17-25-05 grading: 0.8 g/t Au, 16.0g /t Ag, 0.2% Cu, 0.1% Pb, 0.3% Zn#10NECHAKO GOLD PROJECT Tower Resources Ltd - TSX-V: TWR HEAVY METAL CONCENTRATE (HMC) EXAMPLES OF GRADES OF GOLD, SILVER, COPPER, LEAD AND ZINC FOUND IN THE OVERLYING TILLS. 10 10 Sample Number Weight of Au g/t Ag g/t Cu (%) Pb (%) Zn (%() NRC-17-25 25-01 76 0.29 1.90 0.15 0.03 0.09 25-02 25 0.47 0.80 0.20 0.02 0.06 25-03 42 0.36 6.90 1.55 0.05 0.07 25-04 28 0.37 3.80 0.36 0.05 0.08 25-05 48 0.47 3.10 0.26 0.09 0.23 25-06 97 0.58 9.30 0.52 0.48 0.73 25-07 118 0.69 4.40 0.62 0.26 0.85 25-08 135 1.27 10.40 1.07 0.73 1.47 25-09 295 1.13 18.80 1.59 1.50 2.63 25-10 233 1.79 18.20 1.61 1.29 2.64 25-11 214 1.19 21.90 1.52 1.35 3.07 25-12 117 1.14 27.40 1.66 1.24 2.90 25-13 94 2.17 18.80 1.95 1.02 2.02 NRC-17-30 30-01 39 0.80 4.00 0.23 0.06 0.10 30-02 45 1.99 8.70 0.23 0.06 0.10 30-03 67 0.35 3.70 0.82 0.10 0.26 30-04 30 3.14 5.20 1.89 0.12 0.25 30-05 38 1.07 8.40 2.53 0.21 0.37 30-06 111 2.30 17.20 4.79 0.67 1.06 30-07 163 1.13 24.20 2.72 1.38 2.91 30-08 79 0.88 20.30 1.80 1.14 4.07 30-09 185 0.82 15.30 1.15 1.05 2.94#11NECHAKO GOLD PROJECT W E April Showing (Au. Ag. As, Zn, Pb) Creek lineament target 04 LEGEND Phase MRC drill hole No. NRC-30-03 Breccia dome <50 20-7 Basal **Fluid flow Photo Col Shear zone DOH KAPROD 20-7 B-la-py-polation pipe (alteration destructive) Dacitic Breccia 04 Sediments Fluid flow એ એક વાર તાક ક યા મ ત ક Iron Fm. Basalt April Pond 399.000 m Basalt Fluid reservoir Kluskus Road 18-4004 Tower Resources Ltd - TSX-V: TWR 5,913,000 mN 18-003 18-02 MC-Zone 5.912,500 mN 37. (Cu) Porphyry Kluskus FSR Greywacke, Felsic tuff UTM NAD83 Zona 10 250 metres Chutanli Lake Pluton Potassic alteration pipe Au-receptive sediments 5,912,000 mN Chert-pebble conglomerate Figure 1- Geological map of the bedrock surface beneath the glacial deposits. The geology was determined from the RC drill holes because outcrops are absent. Note the major, funnel-shaped alteration pipe extending southwest (upward) from the former hydrothermal fluid reservoir in the dacitic breccia across the basalt to and beyond the Au-receptive sediments. 11 14#12NECHAKO GOLD PROJECT ,912,500 mN 5,913,500 mN 397,500 mE 398,500 mE 399,500 ME 2018 (April) Diamond drilling 3 Kiuskus-Ootsa Road Tower Resources Ltd - TSX-V: TWR 400,500 mE 401,500 ME 1 W N April Showing (Au, Ag, As, Zn, Pb) 2020 RC and diamond drilling 19-2,3 2019 Diamond drilling 19-5 In gap - premature 2016 Surface till sampling: Identified large gold 18-2 grain anomaly C-Zone (Cu) Remnants of buried train and Lower TH ce flow 065 RC drilling; 2017 2 ■ Identified a deeper, "LowerTill" from an earlier, previously unknown glaciation ■ Showed that gold grains in UpperTill are derived from a Au-Ag-As-Zn-Pb sulphide dispersal train in the underlying LowerTill Gap in train 2020 RC and diamond drilling LEGEND 0 Phase IV RC drill hole Phases I to III RC drill hole a DOH No. APRD0-20-7 20-7 Extent of Lower Till 2018-19 RC drilling: 4 Found second remnant of Lower Till with up-ice extension of train Au-Ag-As-Zn-Pb(±Cu) dispersal train in Lower Till 0 UTM NAD83 Zone 10 250 500 metres Blue Road Figure 2 - Summary of Tower's exploration progress on the Nechako property, 2016-2020. 12 12#13Tower Resources Ltd - TSX-V: TWR 13 NECHAKO GOLD PROJECT 1 mm Chloritic fracture 1 mm Coarse unaltered plagioclase Coarse pyroxene replaced by fine-grained biotite + silica + pyrite (20%) Unaltered primary basalt - dark green black - 60% pyroxene, 40% plagioclase Potassic-altered basalt - dark brown - 60% biotite + silica + pyrite 40% unaltered plagioclase Figure 4 - Drill cuttings of unaltered and altered basalt from RC Hole 76#14父 Tower Resources Ltd -/TSX-V: TWR 14 RABBIT NORTH COPPER GOLD PROJECT Kamloops Pop: 100,000 Highland Valley Copper Mine - Teck Resources Annual Production: 100Kt Cu 2P Reserves: 589Mt @ 0.30% Cu Rabbit North Lakes Roads Mineral deposit 28 km 14 km Rabbit North New Afton Mine New Gold Inc. Annual Production: 100Koz Au & 85Mlbs Cu 2P Reserves: 60.3 Mt @ 0.78% Cu, 0.60 g/t Au, 2.0 g/t Ag 0 500 1000 meters Located in a Triassic-Jurassic island-arc (Quesnel Terrane), a significant and economically proven porphyry belt in resource-rich south-central British Columbia.#15RABBIT NORTH COPPER GOLD PROJECT • Documented 16,400 ha porphyry related alteration and mineralization covering an area of approximately 4 by 4 kilometers with 9 known Cu-Au occurrences open for further testing plus large untested area under overburden cover to north. Excellent access to power, infrastructure, and experienced workforce based in Kamloops, 27 km east of project. 662000 Tower Resources Ltd. RABBIT NORTH Historic DDH Collars Historic Percussion Collars Road Lake River 20m contour 5607000 5608000 RN17-015: 247m 0.51% Cu, 0.34 g/t Au 662000 Tower Resources Ltd - TSX-V: TWR 663000 66-4000 665000 666000 Central Monzonite wil Main GS Breccia Western Magnetite Central Monzonite South KV Total Mag Intensity nT 58335 8 2014 Grab Samples Cu (ppm) . 7.40-500 500-1000 1000-3000 3000-5000 5000-15950 Buff Chrysocolla Main Chrysocolla East 56390.5 56260 5 56130 5 Dominic 56000 5 56870.5 55740.5 55610 5 66610 6 55480.5 55350 5 55220 5 55090.5 54940 5 15 54830 5 54700 5 54570 5 54448.7 UTM Z 10 NAD83 NTS 921 1:20,000 Km 663000 664000 665000 UNDEREXPLORED AND ACCESSIBLE. LOCATED BETWEEN TWO OF BC'S LARGEST MINES. 666000 0006099 15#16RABBIT NORTH HIGHLIGHTED DRILL RESULTS Tower Resources Ltd - TSX-V: TWR 16 Drill Hole From (m) To (m) Interval (m)* Cu (%) Au (g/t) CuEq (%)** RN-008 46 246 220 0.30 0.15 0.39 RN-003 54 156 102 0.08 0.28 0.26 RN-010 94 134 40 0.33 0.15 0.42 RN17-014 27 22 247 220 0.15 0.09 0.21 RN17-015 208 455 247 0.51 0.34 0.72 RN17-018 39 319 280 0.19 0.16 0.29 RN17-021 92 225 133 0.19 0.31 0.39 COMPARISON TO MAJOR BC PROJECTS Mine Cu (%) Au (g/t) CuEq (%)** Highland Valley Copper 0.32 0.00 0.32 Copper Mountain 0.27 0.09 0.33 Mt. Milligan 0.19 0.30 0.38 Ajax 0.29 0.19 0.41 Gibraltar 0.23 0.41 0.49 Red Chris 0.36 0.27 0.53 New Afton 0.78 0.60 1.16 * Width refers to drill hole intercept. True widths have not been determined. Rabbit North - Chrysocolla Zone: 1.72 g/t Au, 2.4% Cu, 4.6 g/t Ag ** Copper Equivalent (CuEq) is used for illustrative purposes, to express the combined value of copper and gold as a percentage of copper. No allowances have been made for recovery losses that would occur in a mining scenario. CuEq is calculated on the basis of US$3.00 per pound of copper and US$1300 per troy ounce of gold, using the formula: CuEq = [(%Cu) (22.0462)($lbCu)+(gptAu)(1/31.1035)($ozAu)]/[(22.0462)($lbCu)#17TSXV: TWR FOR MORE INFORMATION PLEASE CONTACT: Tower Resources Ltd. [email protected] 604-377-0403 towerresources.ca