True North Copper Limited · ASX:TNC
True North Copper — Investor Presentation (April 2026)
23 slides from True North Copper's investor presentation, Apr 8, 2026
Slide 1: Australia's next copper growth opportunity
ASX: TNC For personal use only Australia’s next copper growth opportunity April 2026
Slide 2: 100% ownership of two major copper projects in northwest Queensland
100% ownership of two major copper projects ASX: TNC in northwest Queensland TNC is a growth-focused copper company For personal use only 1. Located in the Mt Isa Region A Tier 1 Mineral Province with 50+ years of production history 2. Fast growing projects • Mt Oxide Project – Emerging 10km distric
Slide 3: Corporate Overview
Corporate Overview ASX: TNC Strong register & institutional support For personal use only Share Price $0.36* Shares on Issue 152.4M Tembo Capital 24.9% Market Capitalisation $54.9M* Glencore Australia 6.5% Cash $12.4M^ Regal Funds Management 5.3% Interest-bearing Debt Nil Nebari Natural Resources 5.
Slide 4: Experienced Leadership
Experienced Leadership ASX: TNC Strong track record of successful project delivery Senior Management Board of Directors For personal use only Andrew Mooney Paul Cronin Managing Director and CEO Non-Executive Chairman Experienced in driving complex copper projects from development into Deep capital m
Slide 5: World class copper, close to the surface
World class copper, close to the surface ASX: TNC Our industry is being forced deeper True North Copper is proving up high-grade copper For personal use only resources that are near-surface, open-pittable, and growing. • Near-surface deposits compress the timeline from discovery to cash flow • Open-
Slide 6: We have a growth strategy for value creation
We have a growth strategy for value creation ASX: TNC TNC Based on 3 strategic platforms For personal use only FLAGSHIP PROJECT ROBUST OPPORTUNITY CONTINUOUS EXPLORATION TM GROW DEVELOP DISCOVER Our Mt Oxide Resource Cloncurry Copper Project Our Regional Targets 220kt Cu 1km+ 59m @ 1.77% 109kt Cu 13
Slide 7: GROW: Mount Oxide
GROW: Mount Oxide ASX: TNC Our flagship project Home of the largest and highest-grade greenfield For personal use only copper discovery in the area in over 20 years • A potential standalone sulphide development asset. • Two confirmed deposits 5km apart, Vero and Aquila, both with high-grade shoots,
Slide 8: GROW: Mt Oxide – Flagship Copper, Cobalt, Silver Sulphide Project
GROW: Mt Oxide ASX: TNC Our Flagship Copper, Cobalt, Silver Sulphide Project 1. Vero For personal use only A proven resource. 220kt of Cu, 21kt Co, 5Moz. Ag Development potential with 15mt @ 1.5% Cu 2. Aquila A significant discovery (July 2025) A 1km strike, open in all directions • 145 m @ 0.75% Cu
Slide 9: New Aquila Discovery similar to existing Vero Resource
GROW: Mt Oxide ASX: TNC New Aquila Discovery similar to existing Vero Resource While Copper discoveries are getting deeper… For personal use only TNC resources are high-grade and near surface; open along strike and down dip and an open-pit target. Aquila Long Section Cu% x Downhole Interval Vero Min
Slide 10: A Capricorn Copper Analogue
GROW: Mt Oxide ASX: TNC A Capricorn Copper Analogue Vero / Aquila Long section to scale with comparison long section view of Capricorn Copper For personal use only deposits' pre-mining and current mineral resource estimate: Dorman Fault, Aquila Long Section Capricorn Copper Long Section Displayed at
Slide 11: DEVELOP: Cloncurry Copper Project
DEVELOP: Cloncurry Copper Project ASX: TNC A robust copper production opportunity The nearest-term production pathway in the region. For personal use only • A robust copper gold production opportunity, rebuilt on stronger foundations. • Positioned to leverage existing infrastructure through a hub an
Slide 12: Three deposits on granted mining leases with existing infrastructure
DEVELOP: Cloncurry Copper Project ASX: TNC Three deposits on granted mining leases with existing brownfield infrastructure 1. For personal use only Potential to commence mining in 2027 • Potential to commence mining in 2027 post PFS • Hub & Spoke strategy • Positive drilling results 2. CCP Resource
Slide 13: Wallace North High-Grade Extensions with Underground Potential
DEVELOP: Cloncurry Copper Project ASX: TNC Wallace North High-Grade Extensions with Underground Potential For personal use only Wallace North Long Section CuEq% x ETW(m) Eloise / Jericho* Analogue Note: % Copper Equivalent (%CuEq.) = Cu% + Au(g/t) x 1.013 based on Copper Price of US$10,000/tonne and
Slide 14: Regional Targets and Consolidation
DISCOVER ASX: TNC Regional Targets and Consolidation 1. Unlocking Queensland’s next For personal use only tier-1 copper discovery • District-scale greenfields targets. • Potential Tier-1 stand-alone discoveries or long-life feed for the Cloncurry Copper Project. 2. Salebury • Large Scale IOCG system
Slide 15: Copper Exposure. Relative Value. Clear Positioning.
Copper Exposure. Relative Value. Clear Positioning. ASX: TNC Peer Comparison Grade $700 High grade copper mineralisation For personal use only within a proven mining region $600 Discovery Enterprise Value / CuEq Tonnes Aquila mineralisation identified $500 outside current Resource Extensions $400 Aq
Slide 16: Value Pathway - Grow, Develop, Discover
Value Pathway - Grow, Develop, Discover ASX: TNC A staged pipeline driving production and province scale growth Exploration Prospect Defined Resource Active Drilling 2026 Drilling Priority For personal use only Early Exploration Advanced Exploration Development Operation 1 GROW: Mount Oxide Capricor
Slide 17: Recent Milestones and Upcoming Catalysts
Recent Milestones and Upcoming Catalysts ASX: TNC For personal use only 2025 2026 1 GROW: Mount Oxide Exploration AQUILA DRILLLING & RESULTS IP SURVEY TEST NEW TARGETS Aquila Discovery AQUILA TESTING & EXTENSION DRILLING Results Updates ASSAYS 2 DEVELOP: Cloncurry Copper Project Study Updates SCOPIN
Slide 18: We know where we're headed.
ASX: TNC TNC For personal use only We know where we’re headed. TM WWW.TRUENORTHCOPPER.COM.AU Proven team Strong backing Clear vision With experience across Supported by leading Building a Staged Copper the mining industry institutional investors Growth Platform in Australia INVESTOR PRESENTATION | A
Slide 19: Important Notices And Disclaimer
Important Notices And Disclaimer JORC ASX: TNC This presentation (Presentation), together with any information communicated by True North Copper Limited ABN 28 119 421 868 (the The information in this Presentation that relates to Mineral Resource Estimates for Great Australia, Orphan Shear, Taipan,
Slide 20: Appendix – TNC Mineral Resources
Appendix 1 – TNC Mineral Resources ASX: TNC Resource Cut-off Tonnes Cu Au Co Ag Cu Au Co Ag Category (% Cu) (Mt) (%) (g/t) (%) (g/t) (kt) (koz) (kt) (Moz) Great Australia Indicated 0.5 3.68 0.88 0.08 0.03 - 32 9 1 - For personal use only Inferred 0.5 1.61 0.83 0.05 0.02 - 13 3 0 Great Australia 5.29
Slide 21: Appendix – References
Appendix 2 – References ASX: TNC Carnaby Resources Austral Resources Company Hammer Metals Limited True North Copper Limited Cannindah Resources Limited KGL Resources Limited Limited Australia Limited Solstice Minerals Limited AIC Mines Limited Development Stage Explorer Explorer/Developer Explorer
Slide 22: Appendix – Peer Group Resource Compilation
Appendix 3 – Peer Group Resource Compilation ASX: TNC Mea Au Au Ag Ag Ind. Au Au Ag Ag Inf. Au Au Ag Ag Total Au Au Ag Ag CuE CuEq. Company Project Resources Name References %Cu Cu kt %Co Co kt %Cu Cu kt %Co Co kt %Cu Cu kt %Co Co kt %Cu Cu kt %Co Co kt s. Mt g/t koz g/t Moz Mt g/t koz g/t Moz Mt g/
Slide 23: Appendix (cont'd) – Peer Group Resource Compilation
Appendix 3 (cont’d) – Peer Group Resource Compilation ASX: TNC Mea Au Au Ag Ag Ind. Au Au Ag Ag Inf. Au Au Ag Ag Total Au Au Ag Ag CuE CuEq. Company Project Resources Name References %Cu Cu kt %Co Co kt %Cu Cu kt %Co Co kt %Cu Cu kt %Co Co kt %Cu Cu kt %Co Co kt s. Mt g/t koz g/t Moz Mt g/t koz g/t
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