True North Copper (TNC) Investor presentation summary

Strategic vision and operational focus

• Aims to become a significant copper producer and critical minerals supplier in North-West Queensland.

• Mining restart at Cloncurry Copper Project (CCP) to establish a profitable platform and fund exploration.

• Focus on expanding resource base at Cloncurry and Mt Oxide, with ongoing exploration and regional growth opportunities.

• Seeks to be a preferred employer and build a strong community reputation.

Corporate and financial overview

• 1,029.8M shares on issue, market cap of $35.0M as of 3 September 2024, and $15.5M cash at 30 June 2024.

• Major shareholders include Tembo Capital (29%), Regal Funds Management (14%), and APAC Resources Ltd (6%).

• Debt facility of US$28M with Nebari, with US$10M undrawn, and $15M restricted cash for environmental bonds.

Project portfolio and operations

• Cloncurry Copper Project (100% owned) restarted mining in July 2024 at Wallace Complex, with ore deliveries to Great Australia Mine (GAM) planned for September 2024.

• CCP targets 4.8Mt mined over 4.6 years, producing 28.7kt Cu and 20.9koz Au, leveraging existing infrastructure and toll processing agreements.

• Sulphide ore processed at Ernest Henry, oxides via heap leach and SX plant at GAM.

• Mt Oxide Project hosts the Vero Resource (15.03Mt @ 1.46% Cu & 10.59g/t Ag) with significant exploration upside.