TRUE NORTH COPPER LIMITED — Capital/Financing Update 2021

Jun 29, 2021

ASX Announcement Media Release

==> picture [87 x 88] intentionally omitted <==

==> picture [596 x 106] intentionally omitted <==

SHARE PURCHASE PLAN COMPLETED

30 JUNE, 2021

The Directors of Duke Exploration Limited (ASX:DEX or “the Company”) are pleased to report that the Share Purchase Plan announced to the market on 10 June 2021, and which closed last Friday 25 June 2021, has received very strong support from shareholders. The Company received eligible applications for 7,645,912 shares valued at $2,752,500. These applications represent 8.9% of the current issued share capital and following allotment of these shares the issued share capital will increase to 93,729,002 fully paid ordinary shares. There remain a further 11,000,000 shares to issue from the placement announced on 10 June 2021 which are subject to shareholder approval at an Extraordinary General Meeting to be held on 20 July 2021.

This is an excellent outcome for Duke Exploration Limited. The Company is now firmly positioned to be able to complete the planned exploration program at an expanded rate over the next 12 to 18 months as previously described. This includes further resource development, geo-chemical and geo-physical surveys, and drill testing priority exploration targets at multiple Bundarra project locations and at the Prairie Creek project

The Directors sincerely thank shareholders for their interest and ongoing support of the Company; the coming year promises to be an intense and exciting time in its development, and we are very happy you have decided to continue the journey with us.

Duke Exploration Limited ABN 28 119 421 868 PO Box 765 Kenmore Q 4069 AUSTRALIA www.duke-exploration.com.au

2

For further information, please refer to the Company’s website (www.duke-exploration.com.au) or contact the Company directly.

This announcement has been authorised for release by the Board.

==> picture [102 x 102] intentionally omitted <==

Philip Condon Managing Director - p.condon@duke exploration.com.au Ph +61 417 574 730

Toko Kapea Chairman - t.kapea@duke exploration.com.au Ph+64 27 534 2886

Duke Exploration Limited www.duke-exploration.com.au