True North Copper Exploration in Mt Isa Unveils Major Discovery

True North Copper: Unlocking District-Scale Copper Potential in Queensland’s Mt Isa Inlier

True North Copper (ASX: TNC) is strategically positioned to become a significant player in Australia’s copper sector through its dual-asset strategy in Queensland’s world-class Mt Isa Inlier. With a game-changing discovery at the Mt Oxide Project and a near-term production pathway at its Cloncurry Copper Project, the company offers investors exposure to both exploration upside and development potential in a Tier 1 jurisdiction.

Major Discovery at Mt Oxide Driving Exploration Momentum

True North has made a significant breakthrough at its 100%-owned Mt Oxide Project with the discovery of the Aquila prospect – a new, large-scale copper-cobalt-silver mineralised system that could transform the company’s resource profile.

The Aquila discovery has delivered exceptional drill results including:

• • 145m @ 0.75% Cu, 0.12% Co and 2.9 g/t Ag from 28m including 53m @ 1.18% Cu

• • 30m @ 2.45% Cu, 0.02% Co, 6.2 g/t Ag from 20m

• • 16m @ 1.25% Cu, 0.01% Co, 1.9 g/t Ag from 163m

What makes this discovery particularly exciting is its scale – a 150m wide, +2km long trend with high-grade zones starting from shallow depths. Recent IP surveys have expanded the geophysical signature of the Aquila Trend from 250m to over 1.3km in strike length, indicating substantial potential for resource growth.

Beyond Aquila, geophysical work has identified three newly-defined trends (Aquila, Apollo and Acanthis), each displaying comparable or stronger geophysical anomalies than those associated with the initial Aquila discovery. This suggests the emergence of a district-scale system with multiple high-priority targets.

Existing Resource Base Provides Solid Foundation

The Mt Oxide Project already hosts the Vero Resource with a JORC 2012 Resource of:

• • 15.03 Mt @ 1.46% Cu (Indicated and Inferred)

• • 9.15 Mt @ 0.23% Co (Measured, Indicated and Inferred)

With the Aquila discovery located over 4km from the existing Vero Resource, the company appears to be unlocking a previously undiscovered copper district with multiple mineralised systems.

The Cloncurry Copper Project: Near-Term Production Potential

While Mt Oxide represents the company’s blue-sky exploration opportunity, the Cloncurry Copper Project provides a pathway to near-term production:

• • Infrastructure Advantage: Includes a refurbished Solvent Extraction Plant, crusher, heap leach, and tailings facilities

• • Hub and Spoke Strategy: The Cloncurry Operations Hub is strategically positioned to process copper-gold ore from multiple satellite deposits

• • Resource Expansion: Recent drilling at the Great Australia Mine (GAM) has identified new zones of high-grade copper-gold-cobalt mineralisation beyond current resources

Understanding IP Surveys: A Key Tool in True North’s Exploration Success

Induced Polarisation (IP) surveys have been instrumental in True North’s recent discoveries. This geophysical technique measures the electrical chargeability of subsurface materials, making it particularly effective at identifying disseminated sulphide minerals that often host copper mineralisation.

The expanding IP anomalies at the Mt Oxide Project suggest extensive mineralised systems that wouldn’t have been identified through surface sampling alone. The correlation between IP anomalies and subsequent high-grade drill intercepts validates the company’s methodical, data-driven exploration approach.

For investors, successful IP surveys often precede significant discoveries, as they help exploration teams identify potential ore bodies before drilling begins, increasing the efficiency and success rate of drill programs.

Accelerating Exploration Timeline

True North Copper exploration in Mt Isa is executing an aggressive strategy with multiple programs running concurrently across both project areas:

With approximately 5,000m of an expanded 12,000m drilling program already completed and assay results pending, investors can expect significant news flow in the coming months.

Investment Case: Why Consider True North Copper?

True North Copper presents a compelling investment opportunity for several reasons:

1. 1. District-Scale Potential: The Mt Oxide Project shows signs of hosting a major copper district with multiple mineralised systems

1. 1. Dual-Asset Strategy: Balancing high-impact exploration at Mt Oxide with near-term production potential at Cloncurry

1. 1. Infrastructure Advantage: Existing processing facilities at the Cloncurry Copper Project significantly reduce capital requirements

1. 1. Strong Financial Position: Solid balance sheet with no interest-bearing debt and fully funded exploration programs

1. 1. Experienced Leadership: Well-credentialed management team with a track record in the resources sector

1. 1. Macro Tailwinds: Positioning to benefit from rising copper prices and increased demand driven by electrification and renewable energy

1. 1. Tier 1 Jurisdiction: Operating in Queensland, Australia – a mining-friendly region with established infrastructure

1. 1. Strong Backing: Supported by major shareholders including Tembo Capital, Regal Asset Management, and Glencore Australia

“The systematic, data-driven approach to exploration is delivering results across our project portfolio. We are particularly encouraged by the scale and grade of mineralisation at the Aquila discovery, which continues to expand with each phase of work. This could be a game-changer for True North Copper and our shareholders.” – Bevan Jones, Managing Director

The Copper Opportunity: Essential Metal for the Energy Transition

Copper’s vital role in the global energy transition continues to strengthen its long-term demand outlook. As the most efficient conductor of electricity, copper is essential for renewable energy systems, electric vehicles, and energy storage solutions.

True North’s strategic focus on copper in the Mt Isa Inlier – one of Australia’s premier copper provinces – positions the company to capitalise on growing demand for this critical metal. With both near-term production potential and significant exploration upside, True North Copper offers investors a balanced exposure to the copper thematic in a secure jurisdiction.

What Makes Copper Essential for the Energy Transition?

Copper plays a crucial role in the global energy transition due to its unmatched electrical conductivity, durability, and efficiency. Some key applications include:

• • Electric Vehicles: An average EV contains approximately 83kg of copper, roughly four times the amount used in conventional vehicles

• • Renewable Energy: Solar and wind power systems require 4-5 times more copper than traditional power generation

• • Grid Infrastructure: Power distribution networks rely heavily on copper for efficient electricity transmission

• • Energy Storage: Battery systems and charging infrastructure demand significant copper inputs

With copper demand projected to outpace supply in the coming decades, companies with quality copper assets in stable jurisdictions like Australia are well-positioned for growth.

Ready to Invest in a Multi-Asset Copper Story?

Discover how True North Copper is advancing both its game-changing Mt Oxide discovery and near-term production pathway at Cloncurry in Queensland’s premier copper province. With strong financial backing, significant infrastructure advantages, and positioned within the growing copper market, True North offers investors a balanced exposure to exploration upside and development potential in a Tier 1 jurisdiction. Visit True North Copper’s website today to learn more about this compelling copper investment opportunity.