Subscription to raise £550,000

Tower Resources plc (AIM: TRP), the AIM-listed oil and gas company focused on Africa, is pleased to announce a subscription of 1,964,285,714 ordinary shares of 0.001p each (the "Subscription Shares") at a price of 0.028p per Subscription Share (the "Subscription Price") (the "Subscription"), being at a discount of approximately 15% to the closing bid price of the Company's shares on 16 October 2025.

The Subscription is being made to fund working capital and work commitments on the Company's licenses, including data acquisition in Namibia.

The Company has agreed to issue the broker, Axis Capital Markets Limited, warrants over 49,107,143 new ordinary shares for arranging the Subscription ("Broker Warrants"). The period of the Broker Warrants will be three years at a strike price of 0.056p per share (representing a premium of 100% to the Subscription Price).

Share Capital following the Subscription

The Subscription Shares will rank pari passu with the Company's existing shares. Application has been made for the Subscription Shares to be admitted to trading on AIM in two equal tranches of 982,142,857 shares each. It is expected that Admission of the Subscription Shares will become effective and that dealings will commence at 8.00 a.m. on or around 23 October 2025 in respect of the first tranche, and 31 October 2025 in respect of the second tranche.

Following admission of both tranches of the]Subscription Shares, the Company's enlarged issued share capital will comprise 31,279,995,707 Ordinary Shares of 0.001p each with voting rights in the Company. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Warrants and Options in Issue

Following the issue of the Broker Warrants, the total number of warrants in issue is 1,616,942,411 equating to 4.5% of the Company's enlarged share capital assuming full exercise of all warrants, options and restricted shares.

Tower Resources Chairman & CEO, Jeremy Asher, commented:

"This is an exciting and very active period for us. Our understanding remains that documentation of our various approvals in Cameroon and Namibia is proceeding as previously disclosed. However, we need to maintain readiness for drilling in Cameroon in Q1 2026, and we also need to keep our work programme on track in Namibia, where our entry to the First Renewal Period has already been approved. Therefore, we have decided that a small capital raise at this time will aid in supporting these goals and our overall schedule, pending the receipt of farm-out funds."

Note regarding forward-looking statements