True North Copper Limited · ASX:TNC
True North Copper — 2023 Noosa Mining Conference
24 slides from True North Copper's conference presentation, Jul 21, 2023
Slide 1: Our Mission. Copper and cobalt, produced responsibly
For personal use only Our Mission. Copper and cobalt, produced responsibly July 2023 2 0 2 3 N O O S A M I NI NG C O N FE RE N CE P R E SE NTA TIO N N O T F O R D I ST RI BU TIO N I N T H E U N ITE D S T A TE S
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER This presentation (Presentation) has been prepared by True North Copper Limited ABN 28 119 421 868 (the Co mpany) and Specific regard (amongst other things) should be given to the risk factors outlined in the Company’s Prospectus released on the relates to informatio
Slide 3: Acknowledgement of Country
Acknowledgement of Country True North Copper respectfully acknowledges the Traditional Custodians of the land on which this conference is held today, the Kabi Kabi people. For personal use only We also respectfully acknowledge the Traditional Custodians of the land on which we work – the Mitakoodi,
Slide 4: For personal use only
ASX: TNC - commenced ASX trading 19 JUNE 2023 For personal use only ▪ True North Copper has the potential to become the ASX’s next copper producer with the resource inventory and infrastructure to build a material copper business. Operational focus across Mt Oxide Project and Cloncurry Project. ▪ Qu
Slide 5: Creating a New Copper-Cobalt Company
CREATING A NEW COPPER-COBALT COMPANY For personal use only Cairns Figure 1: Visual representation of TNC Projects and Duke Projects now Figure 2: Visual representation of Mt Oxide Project and Cloncurry Project merged within TNC post RTO merger. tenements and resources summary Presentation | July 202
Slide 6: Board and Management
BOARD AND MANAGEMENT For personal use only Marty Costello Tim Dudley Ian McAleese Paul Frederiks Jane Seawright Managing Director/Founder Non-Exec Director Non-Exec Chairman Non-Exec Director/ Co-Sec Non-Exec Director • 20 years’ professional experience • A mining engineer with • Geological backgrou
Slide 7: Cloncurry Project – Copper Production Commencing July 2023
CLONCURRY PROJECT –COPPER PRODUCTION COMMENCING JULY 2023 Project well advanced & de-risked ▪ 11 Mt of resources on permitted mine leases (See slide For personal use only 21 for detailed JORC Resource table) ▪ 75% of resources in Indicated category Cloncurry Project centred on GAM Complex ▪ GAM Comp
Slide 8: Corporate overview
Corporate overview Corporate Structure Shares on issue 461,647,356 For personal use only Share price @ 19th July 2023 $0.25 Market Cap @ 19th July 2023 $115m Enterprise Value $111.5m Cash @ 30 June 2023 ~$3.5M Major Shareholders Tembo Capital 29.73% TA Private Capital 6.72% HSB Custody 4.87% UBS Nom
Slide 9: Great Australia Mine (GAM) Complex Resources and Processing Facilities
GREAT AUSTRALIA MINE (GAM) COMPLEX RESOURCES AND PROCESSING FACILITIES Great Australia 4.66 Mt at 0.88% Cu and 0.07 g/t Au Expecting to commence Copper Sulphate production this → 41.10 kt Cu and 10.46 koz Au 1 month For personal use only Orphan Shear 1.03 Mt at 0.56% Cu & 0.04 g/t Au ▪ Granted minin
Slide 10: Great Australia Mine Growth Potential
GREAT AUSTRALIA MINE GROWTH POTENTIAL 9 GAM - significant near-mine exploration. Initial drilling & IP survey results highlight extension and resource growth potential. For personal use only Results Pending 3.90m @ 2.38 % Cu from 219.10m 7.05m @ 2.23% Cu from 382.00m Figure 5: Visual overview of GAM
Slide 11: Drillhole Results GAD014 (GAM, Cloncurry)
DRILLHOLE RESULTS GAD014 (GAM, CLONCURRY) 9 Note: all intercepts open dip to the north-west Table 1: Drillhole results from drillhole GAD014 For personal use only Hole ID From (m) To (m) Downhole Cu % Interval (m) GAD014 217.00 227.60 10.60 1.15 including 219.10 223.00 3.90 2.38 284.00 299.00 15.00
Slide 12: Induced Polarisation Results - GAM Growth Potential
INDUCED POLARISATION RESULTS - GAM GROWTH POTENTIAL 9 For personal use only Figure 6: Cross Sections X-X' through the 3D IP Chargeability Model showing the high-order chargeability anomaly associated with the Taipan Resource and new anomalies identified in the Greater Australian Target Area 9 Presen
Slide 13: Wallace Mining Leases and Approved Infrastructure
WALLACE MINING LEASES AND APPROVED INFRASTRUCTURE Brownfields deposit with infrastructure and approvals in place ▪ Wallace North combined resource of 1.39Mt @ 1.38 % Cu & 0.9 g/t Au1 For personal use only ▪ Wallace Mining Leases span over 751.2 ha. ▪ Infrastructure includes waste rock dump, ROM pad,
Slide 14: Mt Oxide Copper-Cobalt Development Project
MT OXIDE For personal use only COPPER-COBALT DEVELOPMENT PROJECT Well advanced critical mineral project with inherent size, grade and exciting upside potential. Figure 8: True North Copper, Managing Director, Marty Costello with Brussie Spreadborough (of Chidna Station) at the Mt Oxide Project. Pres
Slide 15: Copper & Cobalt Resources at Mt Oxide
COPPER & COBALT RESOURCES AT MT OXIDE 340,000 360,000 ▪ Established Infrastructure Mt Oxide District ⎻ Exploration camp Theresa ⎻ 25 km from the Capricorn Copper Mine, processing plant, and power grid. Zn - Pb ⎻ BFS 75% completed in 2011 to support commencement of mining activities For personal use
Slide 16: Vero Resources Long Section – High Grade Copper Open to Depth
VERO RESOURCES LONG SECTION – HIGH GRADE COPPER OPEN TO DEPTH A Cobalt Resource A’ Southwest outline >0.1% cobalt Copper Block Model Northeast Mt Oxide Historic Pit For personal use only No drilling MOXD104 - 32m @ 4.5% Cu, Cobalt Resource 44 g/t Ag & 0.02% Co MOXD061 - 26 m @ 0.23% Co >0.1% Co from
Slide 17: Vero Resources Growth and High-Grade Copper Exploration Potential
VERO RESOURCES GROWTH AND HIGH-GRADE COPPER EXPLORATION POTENTIAL B C B’ For personal use only C’ MOXD100 -7.9 m @ 0.3% Co & 0.8% Cu from 80 m 13 MOXD061 - 26 m @ MOX017 – 14 m @ 0.23% Co from 111 m 13 3.7% Cu from 135 m 11 Cobalt Resource MOXD104 - 32 m @ High-grade 4.5% Cu, 44 g/t Ag & 0.02% Co fr
Slide 18: Vero Resources vs Capricorn Mine
VERO RESOURCES VS CAPRICORN MINE ▪ Strong geological analogue with 29 Metals’ (ASX:29M) Capricorn Copper Mine - 62.2 Mt at 1.8% copper, 9 g/t silver10 ▪ Discovery potential for additional copper-cobalt-silver shoots along underexplored 11 km Mt Oxide and 8 km Big Oxide trends For personal use only C
Slide 19: Our Environment Social Governance
For personal use only Our Environment Social Governance Cutting edge technology to provide transparency, consistency, efficiency and overall business performance Presentation | July 2023 19
Slide 20: Our ESG & Operational Improvement Partnership
OUR ESG & OPERATIONAL IMPROVEMENT PARTNERSHIP We have a dedicated team of ESG professionals, focused on delivering our ESG program. Initiative 1: Partnering with a provider of technology excellence The partnership with Hitachi Ventara aims to achieve: For personal use only ▪ Absolute transparency fo
Slide 21: True North Copper – Copper Gold Cobalt Silver Resource Base
TRUE NORTH COPPER – COPPER GOLD COBALT SILVER RESOURCE BASE Resource Cut-off Tonnes Cu Au Co Ag Cu Au Co Ag ▪ Significant copper asset package containing 26.94 Mt at 1.12% copper for Category (% Cu) (Mt) (%) (g/t) (%) (g/t) kt koz kt Moz 307.21 kt copper1 in Measured, Indicated and Inferred JORC cop
Slide 22: Great Australia Mine JORC 2012 Ore Reserves Estimate
Great Australia Mine JORC 2012 Ore Reserves Estimate8 Great Australia Mine – Total Reserve COMPRISING For personal use only Reserve Tonnes (Mt) Cu (%) Au (g/t) Great Australia Reserve Category Reserve Category Tonnes (Mt) Cu (%) Au (g/t) Proved 0.0 0.00 0.00 Proved 0.0 0.00 0.00 Probable 4.0 0.74 0.
Slide 23: Thank you
For personal use only Thank you MARTY COSTELLO +61 429 741 120 marty.costello@truenorthcopper.com.au 23
Slide 24: References
REFERENCES 1. Resource figures provided are based on the previously announced mineral resource estimates disclosed in the Company’s ASX Release dated 28 February 2023: Acquisition of True North Copper assets, and its Prospectus, dated 3 May 2023 (see section 7.1, page 51) announced on the ASX on 4 M