Tower Resources plc (“Tower” or “the Company”) announces that on the 28th May 2010 it issued a total of 6,339,622 warrants to Peter Kingston, Peter Blakey, Peter Taylor, Mark Savage and Jeremy Asher as detailed below:-

NameWarrantsExercise PriceDate from which the warrants are exercisableExpiry of warrants
Peter Kingston1,509,4341.325p28th May 201128th May 2013
Peter Blakey1,509,4341.325p28th May 201128th May 2013
Peter Taylor1,509,4341.325p28th May 201128th May 2013
Mark Savage905,6601.325p28th May 201128th May 2013
Jeremy Asher905,6601.325p28th May 201128th May 2013

These warrants were issued in lieu of fees to be waived by directors for the forthcoming period May 2010 to April 2011, to reduce overhead cost to working capital. The fees to be foregone are summarised below (£):-

NameMay 10 – April 11May 10 – October 10Total
Peter Kingston 20,00020,000
Peter Blakey20,000 20,000
Peter Taylor20,000 20,000
Mark Savage12,000 12,000
Jeremy Asher12,000 12,000

The Tower Board further agreed on 28th May 2010 that the period during which all existing share option agreements with Peter Kingston, Jim Webb, Frank Collar and Marilyn Hill may be exercised be extended by two years, from a period of 5 years from each option’s date of grant to a period of 7 years from that date.

For further information please contact:

Tower Resources plc

Peter Kingston 0780 2804852

Astaire Securities (NOMAD and Joint Broker)

020 7448 4400
Jerry Keen (Broking)
Gavin Burnell / Shane Gallwey (NOMAD)

Westhouse Securities (Joint Broker)

020 7601 6100
Tim Feather

Walbrook PR

020 7933 8780
Paul McManus / Leah Kramer