Annual Financial Report

Triple Plate Junction PLC

(the "Company" or "TPJ")

RESULTS FOR THE YEAR ENDED 31ST MARCH 2013

TPJ, the AIM listed gold exploration company focussed on South East Asia, today announces its results for the year ended 31st March 2013.

Tony Shearer, Chairman of TPJ commented:

"The last year has been a very disappointing one for the Company, as none of our joint ventures has achieved what we, and our joint venture partners, had hoped. This is especially disappointing as a great deal of money has been spent on these projects, and the resources applied and our partners have been of the highest quality.

Accordingly we have been looking to see if we can start one or more new projects. The Board is conscious that any of the likely exploration opportunities would dilute existing shareholders either to acquire the opportunity and/or to raise the funds needed for the exploration work. No opportunity has yet crystallised that the Board believes represents an acceptable balance of the upside with the risk and dilution for shareholders, but it continues to consider a number of opportunities."

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Chairman's Statement

This is my fourth Annual Report statement since being appointed Chairman of Triple Plate Junction plc ("TPJ").

TPJ has at present an interest in a project in Vietnam and in four joint ventures in Papua New Guinea, which are discussed further below.

Vietnam: Pu Sam Cap

TPJ retains a 10% undilutable carried interest through to the commencement of commercial production. Vietnamese government parties hold 30% and Bill Howell, a former director of TPJ, the remaining 60%.

Having been granted an extension of the Pu Sam Cap exploration licence by the Vietnamese government, Bill Howell's team has undertaken preliminary field investigations based on a re-evaluation of the past work. This has indicated an untested new drill target that has the potential to contain higher alkalic porphyry copper grades.

Papua New Guinea: Wamum

TPJ has accepted, subject to contract, an offer of US$ 750,000, payable in cash, to purchase its 12.14% contributing interest in the Wamum project. One of the conditions is that Barrick completes its negotiations for a joint venture involving its 87.86% interest.

Papua New Guinea: Morobe

As announced in December 2012, Newmont Ventures Ltd ("Newmont") advised TPJ that it would not be allocating a budget to the Morobe JV in 2013. In January 2013, Newmont further advised the Company that it had decided to cease exploration activities on the JV property, and that Newmont was in the process of exploring sale options. These options have not proved successful and Newmont has advised that it will now withdraw from the project, after having arranged an orderly close-down. In these circumstances, both parties have agreed that the licences would terminate as they came up for renewal, excluding any in which TPJ may have an interest. We are currently assessing whether we wish to retain an interest in any of the licences.

Papua New Guinea: Crater Mountain

As announced in April 2013, TPJ sold its 8% interest in the Crater Mountain project to Gold Anomaly for AUD 200,000 (approximately £137,000). Gold Anomaly has placed the proceeds into an escrow account, and the only payment condition outstanding is that Gold Anomaly receives Papua New Guinean Government approval for the transaction.

Papua New Guinea: Manus Island

During the year our interest diluted from 15.20% to 10.38%. Newcrest have recently advised of exploration plans for the 2013 financial year which we will be discussing with them shortly.

Financial position

The Board has considered TPJ's current cash balance and also looked very carefully at our expected expenditure to the end of the calendar year 2014. There are many imponderables and there is no certainty that our forecasts will be correct. In particular we have not yet decided on the future business ventures of the Group, and any such projects or developments may require additional funding. On balance the Board considers that the Group has adequate financial resources to see it through to the end of calendar year 2014.

As at 25th July 2013 the Group had cash balances of approximately £1.2 million with total liabilities of £50,000.

Composition of the Board and Officers

The Board comprises Chris Goss (Non-Executive Director) and me (Non-Executive Chairman). Fraser McGee resigned on 28th February 2013 and we are grateful to him for this enthusiasm and commitment over the last two years.

The last year has been a very difficult time, and I am very grateful to all my colleagues who have served on the Board and the Advisory Board during the year for all their wisdom, time and commitment.

Advisory Board

The Advisory Board provides the Group Board with additional specialist technical skills and knowledge, and comprises Patrick Gorman (Chairman), John Catchpole and Bill Howell. It continues to meet when needed and has provided key specialist expertise to the Group Board, and I am very grateful to its members for their invaluable help.

Conclusion

The last year has been a very disappointing one for the Company, as none of our joint ventures has achieved what we, and our joint venture partners, had hoped. This is especially disappointing as a great deal of money has been spent on these projects; both the exploration prospects and our partners have been of the highest quality.

Accordingly we have been looking to see if we can start one or more new projects. One option remains to explore parts of the Papua New Guinean projects that Barrick, Newcrest or Newmont do not want to pursue. However the Board is aware that the costs of operating in Papua New Guinea may be too high for TPJ to fund on its own.

Another option that the Board is considering is to pursue gold exploration opportunities in other parts of the world where members of the Board and Advisory Board have considerable expertise, and where TPJ may be able to add value. This is being kept under review but at minimal expenditure.

The Board is conscious that any of the above opportunities would dilute existing shareholders either to acquire the opportunity and/or to raise the funds needed for the exploration work. No opportunity has yet crystallised that the Board believes represents an acceptable balance of the upside with the risk and dilution for shareholders, but it continues to consider a number of opportunities.

I hope that you will be able to attend the Annual General Meeting on 30th September 2013 when my colleagues and I hope to meet you and to update you.

Tony Shearer

Non-Executive Chairman

25th July 2013

Consolidated income statement

For the year ended 31 March 2013

Consolidated statement of comprehensive income

Consolidated balance sheet

As at 31 March 2013

Consolidated statement of cash flows

For the year ended 31 March 2013

Consolidated statement of changes in equity

For the year ended 31 March 2013

Notes

1. Financial statements

The financial information set out in this preliminary announcement does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006 for the year ended 31 March 2013 or for the years ended 31 March 2012 or 31 March 2011, but is derived from those accounts. The financial statements for 2013 will be delivered to the Registrar of Companies prior to the Company's Annual General Meeting. The auditors have issued an unqualified report on the 2013 accounts.

2. Summary of significant accounting policies

a) Basis of preparation

These financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union, and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS.

The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries) made up to 31 March each year.

b) Intangible fixed assets

Deferred exploration and evaluation costs

Exploration and evaluation (E & E) expenditure costs comprise costs associated with the acquisition of mineral rights and mineral exploration, including those incurred through joint operations, and are capitalised as intangible assets pending determination of the technical and commercial feasibility of the project. They also include certain administrative costs that are allocated to the extent that those costs can be related directly to operational activities.

If an exploration project is deemed successful based on feasibility studies, the related expenditures are transferred to development and production (D & P) assets and amortised over the estimated life of the ore reserves on a unit of production basis. Where a project is abandoned or considered to be no longer economically viable, the related costs are written off in the income statement.

To date the Group has not progressed to the development and production stage in any areas of operation.

3. Dividends

The directors do not recommend the payment of a dividend (2012: nil)

4. Intangible fixed assets

The impairment loss relates to (i) full impairment of Morobe of £2,854,000 and (ii) partial impairment of Manus Island of £1,159,000 and Wamum £373,000.

The impairment in respect of Morobe is due to the decision by Newmont to cease exploring the site on the JV property and an agreement for the licences not to be renewed when they come up for renewal. While the Group are assessing whether to retain any interest in the licences, the Directors consider the balance should be impaired in full.

The Manus Island project is on-going, however, the group have not participated in the previous two cash calls, leading to their interest being diluted from 15.20% to 10.38%. On this basis the Directors have considered the carrying value of the project and consider the recoverable amount to be £500,000.

The Group have agreed to dispose of the investment in Wamum for US$750,000 and have therefore impaired the carrying value of the investment to the Sterling equivalent (approximately £494,000).

The impairment reversal relates to Crater Mountain that was fully impaired in the prior year; the Company has agreed to sell this operation for AUD 200,000 (approximately £137,000).

5. Annual Report

The Annual Report will be available on the Company's website at www.tpjunction.com.

6. Annual General Meeting

The Company's Annual General Meeting will be held at the Gowlings (UK) LLP, 125 Old Broad Street, London, EC2N 1AR at 2:30pm on Monday 30th September 2013.