Subscription to raise £280,000

Tower Resources plc (AIM: TRP), the AIM-listed oil and gas company focused on Africa, is pleased to announce a subscription of 1,000,000,000 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 less than 5% to the closing bid price of the Company's shares on 14 November 2025.

The Subscription is being made to fund working capital and is a follow-on to the previous subscription of £550,000 announced on 17 October, 2025 in response to further investor demand following that subscription.

The Company has agreed to issue the broker, Axis Capital Markets Limited, warrants covering 25,000,000 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 and 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 28 November 2025.

Following admission of the Subscription Shares, the Company's enlarged issued share capital will comprise 32,279,995,707 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 1,641,942,411 equating to 4.4% of the Company's enlarged share capital assuming full exercise of all warrants, options and restricted shares.

Tower Resources Chairman & CEO, Jeremy Asher, commented:

"The government in Cameroon is getting back to work following the recent Presidential election, which resulted in a historic eighth term in office for President Paul Biya, who has already indicated his support for our Thali project, with our Managing Director in Cameroon attending his recent inauguration. I will be visiting Cameroon again this week to oversee the progress on our documentation, and to hear at first hand the government's plans to stimulate further investment in our sector. In the meantime, our brokers have advised us over the past couple of weeks of further demand from investors following on from the small subscription we undertook last month. In the circumstances, we felt it was prudent to accept these further funds and bolster our working capital position as we move forward with our various work programmes."

Note regarding forward-looking statements