True North Copper Limited has reported promising exploration progress at its Wallace North mining lease within the Cloncurry Copper Project in Northwest Queensland. A Fixed Loop Electromagnetic (FLEM) survey covering 22 line‐kilometres delivered high-confidence data that defined several high-priority drill targets, elevating optimism about the potential to expand the existing copper-gold deposit. The survey detected multiple conductive trends exhibiting strong signal-to-noise ratios and extending laterally over eight kilometres. These features, with conductive bodies reaching depths beyond 500 metres, indicate the presence of two mineralisation styles: shallow supergene sulphide oxide zones amenable to open-pit mining and deeper primary sulphide zones that may support higher-grade underground operations. The technical interpretation of the survey reinforces the view that Wallace North forms part of an extensive, largely untested mineralised system. The data aligns with previous high-grade intersections and geochemical anomalies, and it confirms structural controls such as an east northeast-striking dextral shear corridor—an important pathway for fluid flow and ore deposition. True North Copper Limited has already identified several conceptual drill holes, including targets referred to as PropDH1, PropDH13, PropDH9, PropDH12, and PropDH11, each coinciding with key conductive plate intersections and historic intercepts that recorded notable copper and gold grades. Drill testing using reverse circulation techniques is scheduled to commence in the third quarter of 2025, following completion of parallel work at the company’s Mt Oxide project and ongoing environmental approvals and drill pad construction. The news carries a bullish tone for the company’s future growth. The identification of significant new drill targets, combined with the high-quality FLEM data, suggests that the mineral inventory at Wallace North could be substantially larger than existing estimates, potentially extending the life of the Cloncurry Copper Project and paving the way for cost-effective open-pit to underground transition strategies. However, a bearish perspective might note that past operational pauses, including a period of Voluntary Administration, remind investors of the risks inherent in exploration activities. Moreover, the success of the upcoming drilling program, pending environmental approvals and further technical confirmation, remains crucial for translating exploration success into economic value.