True North Copper (TNC) Investor presentation summary

Portfolio and strategy

• Two wholly owned projects in North West Queensland underpin a stated ~420kt contained copper-equivalent growth opportunity: grow Mt Oxide through exploration and advance Cloncurry toward development.

• Mt Oxide is positioned as a district-scale copper, cobalt and silver system; Cloncurry combines defined resources with a PFS pathway and potential near-term value realisation.

Mt Oxide growth

• Vero resource: 15.03Mt at 1.46% Cu, 10.59g/t Ag and 0.23% Co, containing 220kt Cu, 5.1Moz Ag and 21kt Co; open along strike and at depth.

• Aquila-Chidna extends ~2.3km within a broader interpreted 4km+ structure; the prospective trend exceeds 10km, with drilling and geophysics supporting further targets.

• The stated vision is a 50–60Mt copper resource; planned work includes Phase 2 drilling, follow-up targeting and an Aquila maiden Mineral Resource targeted for Q3 2027.

• Vero development concepts include an open pit of ~700m × 500m × 200m and underground access to higher-grade mineralisation; concepts are not final mine designs.

Cloncurry development

• Cloncurry resource totals 204kt CuEq, up 62% in the October 2026 update, across four deposits; flotation test work achieved ~89% copper recovery.

• PFS and Ore Reserve are scheduled for Q4 2026; development optimisation and approvals are planned through 2027, with potential mining start targeted from late 2027.

• Wallace North drilling returned 24.5m (19m ETW) at 4.21% CuEq, including 3.3m (2.6m ETW) at 18.14% CuEq.

• Mongoose-Taipan totals 11.2Mt at 0.76% CuEq and 85kt CuEq; Wynberg has a 61koz gold resource at 1.8g/t Au and is being assessed as potential high-grade feed.