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:-

Name Warrants Exercise Price Date from which the warrants are exercisable Expiry of warrants
Peter Kingston 1,509,434 1.325p 28th May 2011 28th May 2013
Peter Blakey 1,509,434 1.325p 28th May 2011 28th May 2013
Peter Taylor 1,509,434 1.325p 28th May 2011 28th May 2013
Mark Savage 905,660 1.325p 28th May 2011 28th May 2013
Jeremy Asher 905,660 1.325p 28th May 2011 28th 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 (£):-

Name May 10 – April 11 May 10 – October 10 Total
Peter Kingston   20,000 20,000
Peter Blakey 20,000   20,000
Peter Taylor 20,000   20,000
Mark Savage 12,000   12,000
Jeremy Asher 12,000   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