Slide 1: PDAC - True North Copper Overview
For personal use only PDAC - True North Copper Overview MARCH 2024 ASX: TNC TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 1
Slide 2: Corporate Snapshot - Update
ASX: TNC CORPORATE SNAPSHOT - UPDATE Board of Directors Corporate Structure Ian McAleese Non-Executive Chairman For personal use only Shares on issue 588M Marty Costello Managing Director Options on issue (average exercise price $0.334) 21.6M Tim Dudley Non-Executive Director Warrants on issue (exer
Slide 3: Tier 1 Jurisdiction
TIER 1 JURISDICTION Global Measured, For personal use only Indicated and Inferred Resources containing 729.2 M/ lbs copper, 50.9 M/lbs cobalt, 148.62 koz gold and 4.31 Moz silver1 Mt Oxide Project Cloncurry Copper Project Figure 1 (left) - TNC project locations within Queensland, Australia. Note: vi
Slide 4: Australia's Newest Copper & Critical Minerals Producer
TRUE NORTH COPPER AUSTRALIA’S NEWEST COPPER & CRITICAL MINERALS PRODUCER TIER 1 JURISDICTION For personal use only CLONCURRY COPPER PROJECT (CCP) | MT OXIDE | 100% TNC OWNED | ACQUIRED 100% TNC OWNED | ACQUIRED AUGUST JUNE 2023 2022 - Highly prospective and underexplored. Phenomenally - Mining 2024
Slide 5: Mining Restart
Cloncurry Copper Project MINING RESTART 6 For personal use only - Partnership signed with Glencore – Tolling and Offtake2. - USD 28 million finance partnership with Nebari Resources Fund3. - Producing high grade copper sulphate crystal for the domestic and international market. Receiving LME+ premiu
Slide 6: Cloncurry Operations Hub and Key Milestones
Cloncurry Copper Project 2023 Initial Reserve Statement for the Great Australia Mine, mining restart studies JUL Commencement of initiated1. Copper Sulphate Great Australia Mine Feeder Structure drilling and IP defines targets AUG Greater Australian9. For personal use only SEPT Wallace North Wallace
Slide 7: Partnerships for Success
For personal use only Cloncurry Copper Project PARTNERSHIPS FOR SUCCESS Copper Ore Tolling & Copper Concentrates Offtake $28M USD Finance Facility Copper Sulphate Offtake TNC’s Largest Shareholder TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 7
Slide 8: Mining Restart - Key Mine Metrics
Cloncurry Copper Project MINING RESTART - KEY MINE METRICS - Current Reserve Life of Mine 4.6 For personal use only years* - Open Cut Mining method - Mining Restart Plan – Ore Milled 4.8MT - Mining Restart Plan – Sulphide Ore Milled 4.0MT - Payable Copper metal tonnes produced 63M/lbs first 4 years
Slide 9: Mine Plan & Design
MINE PLAN & DESIGN Cloncurry Copper Project - Mining to commence at Wallace North - Low LoM strip ratio 4.2 - 100% based on Probable Reserves For personal use only GREAT AUSTRALIA WALLACE NORTH TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 9
Slide 10: Sulphide Concentrate and Copper Sulphate Crystal
Cloncurry Copper Project For personal use only SULPHIDE CONCENTRATE COPPER SULPHATE CRYSTAL - 4MT sulphide ores toll processed through nearby - Operating Copper Sulphate Crystal Plant & Heap concentrator under Glencore Agreement. Leach at Cloncurry Operations Hub. - Mineral concentrate grade 22-26%
Slide 11: Mining Restart - Key Finance Metrics
Cloncurry Copper Project MINING RESTART - KEY FINANCE METRICS6 For personal use only - Free Cash Flow $111M AUD first 4.6 of years - First 4.6 years of operations NPV (10) $88M#, IRR 240% - Payback period 6 months - Pre-production & working capital $2.2M - AISC $2.46 USD at today’s exchange rate< Fi
Slide 12: Greater Australian Exploration Targets
Cloncurry Copper Project GREATER AUSTRALIAN Exploration Targets The Greater Australian Target is one of a number of CCP priority exploration targets during 2024 18. For personal use only - Under-explored large Scale IOCG Cu + Co-Au Mineral System on mining leases with a current ind. & inf. resource
Slide 13: Greater Australian Exploration Targets
Cloncurry Copper Project GREATER AUSTRALIAN Exploration Targets For personal use only Figure 8 - Greater Australian Target TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 13
Slide 14: Mt Oxide - Our next mine
TRUE NORTH COPPER For personal use only MT OXIDE Our next mine TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 14
Slide 15: Vero Mineral Resources and Capricorn Copper
Vero Mineral Resources and Capricorn MT OXIDE Project Copper Mineral Resources* - Vero has a strong analogy with 29 Metals’ (ASX:29M) Capricorn Copper - 62.2 Mt at 1.8% copper, 9.0 g/t silver13. - Vero has very high-grade copper open to depth with intersections at base of drilling including TNC’s MO
Slide 16: Mt Oxide Project - Vero Resource
MT OXIDE Project - VERO RESOURCE First drillhole (MOXD217) of an initial diamond drilling program returns phenomenal results including4: - 66.50m (48.00m*) @ 4.95% Cu, 32.7g/t Ag and 685ppm Co from 234.00m - inc. 20.60m (15.47m*) @ 10.51% Cu, 63. g/t Ag and 1,149 ppm Co from 234.60m and - inc. 8.55m
Slide 17: MOXD225 confirms outstanding mineralisation continues
MT OXIDE Project For personal use only MOXD225 confirms outstanding mineralisation continues5 - MOXD225 assay results provide insight into Vero Resource zonation and principal feeder system. - MOXD225 hits two intersects of 26.20m @ 4.45% Cu and 46.60m @ 2.18% Cu. Highlights include: - 26.20m (16.48
Slide 18: Mt Oxide Project Timeline
MT OXIDE Figure 11 (right) presents a summary timeline of project 2023 Project highlights across the Mt Oxide Project from May 2023 to January 2024. TNC acquires Mt Oxide Project including the MAY Vero Indicated and Inferred Resource of 15.98 Mt at 1.43% Cu and 6.91 g/t Ag1 (M,I and I.) JUN Figure 1
Slide 19: Appendix - Resources and Reserves
APPENDIX 1 - Resources and Reserves For personal use only TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 19
Slide 20: Appendix - Resources and Reserves
APPENDIX 1 - Resources and Reserves For personal use only TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 20
Slide 21: Appendix - CCP Mining Restart - Key Metrics
APPENDIX 2 - CCP Mining Restart - Key Metrics For personal use only TRUE NORTH COPPER [ASX: TNC] MARCH 2024 - PDAC PRESENTATION 21
Slide 22: References
REFERENCES 1. The information in this Presentation that relates to Mineral Resource and Ore 10. True North Copper Limited. ASX (TNC): Release 3 October 2023: TNC intercepts Reserve Estimates for Great Australia, Orphan Shear and Taipan is based on 6m @ 12.99 g/t Au and 10m @ 2.22% Cu at Wallace Nort
Slide 23: Important Notices & Disclaimers
IMPORTANT NOTICES & DISCLAIMERS This presentation (Presentation) has been prepared by True North Copper require in evaluating a possible investment in the Company or that would be Limited ABN 28 119 421 868 (the Company) and relates to information The required in a prospectus or product disclosure s
Slide 24: Important Notices & Disclaimers
IMPORTANT NOTICES & DISCLAIMERS JORC - 7 November 2023: Wallace North AGC drilling hits 14.05% Cu, 25.70% Au. - 14 November 2023: TNC intersects 26.20m @ 4.45% Cu, Vero The information in this Presentation that relates to Mineral Resource and Ore Reserve Estimates for Great Australia, Orphan Shear a