True North Copper (ASX:TNC) progresses mining activities at Wallace North deposit

True North Copper Limited (ASX:TNC) is making significant progress in its mining activities at the Wallace North deposit, part of the Cloncurry Copper Project (CCP) in Queensland. The company has successfully ramped up mining activities in line with the current CCP mine plan, with approximately 6,000t of oxide ore mined and placed on the Wallace North RoM. Oxide ore is now being transported to the Great Australia Mine (GAM) crusher, with stacking on the leach pad set to commence in October 2024. TNC remains on track to become Australia's next copper producer and critical metals supplier in Q1 2025 via the restart of CCP.

True North Copper's Managing Director, Bevan Jones, on progress at Wallace North

Our team at Wallace North has continued to advance mining activities on schedule with the current CCP mine plan. TNC's progress towards becoming Australia's next copper producer has taken significant steps forward since our previous Wallace North update, with 6,000t of oxide ore having now been mined and transportation of this ore to the GAM crusher underway. We expect to commence stacking of this ore on the leach pad in October, the next milestone in this process that we are now targeting. This is the first new copper ore mined and added to the heaps by TNC. In parallel, TNC is focused on growing our workforce to deliver on these objectives at CCP. The recruitment process continues for the GAM and Wallace North, with a substantial number of positions to be filled by mid-October. This progress on both fronts strengthens TNC's position not only as an emerging copper and critical metals company, but also as a North Queensland-based company focused on providing opportunities within the communities in which it operates. As mining activities progress further at CCP, we look forward to continuing to provide regular updates.

Progress at Wallace North and CCP, outlook for True North Copper

True North Copper (ASX:TNC) is making significant progress in its mining activities at the Wallace North deposit, with the transportation of the first oxide ore to the GAM crusher underway. This development is expected to contribute to improved copper production from the Solvent Extraction (SX) plant. TNC remains on track to become Australia's next copper producer and critical metals supplier in Q1 2025 via the restart of CCP. The company has binding offtake and toll milling agreements with Glencore International AG for 100% of copper concentrate from CCP and toll milling of up to 1Mt of ore per year. TNC is also focused on growing its workforce to support its objectives at CCP, including the recruitment of a substantial number of personnel by mid-October for the GAM and Wallace North. As mining activities progress further at CCP, the company looks forward to continuing to provide regular updates.