Okay, so you're lost in the bush, you magnetize your needle, it floats happily and aligns itself with authority ... how do you know which is north-ish and which is south-ish?
You look at the stars to see what way is north, I can do to tell a somewhat north direction within 10 to 15 degs.
If it’s during the day watch and use the sun. Put a long stick in the ground so it cast no shadow. Wait 20-min or so and it will have a shadow pointing east.
Or use one of your spare compasses.