Drilling Update

11 June 2012

Triple Plate Junction Plc

("TPJ" or the "Company")

Morobe Update - Project Development & Drilling Results from Gumots

TPJ, the AIM listed gold and copper exploration company in joint ventures with three of the world's top four gold miners in the highly prospective Papua New Guinea ("PNG"), provides an update on its Morobe project. The Morobe project, in joint venture with its partner Newmont Ventures Limited ("Newmont"), is located on ground which abuts Newcrest-Harmony's Wafi-Golpu deposit.

Drilling at Gumots, the second target to be drilled, did not intersect any appreciable thickness of the target intrusive unit and there are no significant results to report. Gumots is one of 15 prospective drill targets identified across the Morobe joint venture tenements, to date, using state-of-the art airborne geophysics, regional geochemistry and follow-up geological mapping, sampling and ground geophysics.

Given the results of the Gumots drilling (and some access issues), Newmont has decided to suspend active drilling for an anticipated six month period, whilst the project focus is directed at additional exploration field work for the purpose of opening up and de-risking future drilling at the numerous additional potential drill targets across the territory. For example, at the Minawa and Pade prospects, where in particular, field teams have defined large footprints of encouraging surface copper and gold mineralization indicated by BLEG, ridge-and-spur soil and rock chip sampling which will require extensive further work including ground geophysics.

In early May, the Company's Exploration Director, Bill Howell, together with Fraser McGee, TPJ's CEO, visited the joint venture camp at Bulolo, PNG for a partners meeting with Newmont during which we reviewed the practical methodology that will be used to de-risk the future drill targets, after taking valuable experience from the work previously undertaken at Hides Creek and Gumots.

There are currently an additional 13 current prospective drill targets across the Morobe Joint Venture tenements. We anticipated that a future exploration programme would include the completion of the geological mapping, surface geochemistry, helimag and, where warranted, Induced Polarisation at other selected prospects including potentially at Skarn Creek, Pade and Otibanda. Additional ground is also anticipated to be pegged, where warranted.

Fraser McGee, the Company's CEO said:

"I am, of course, disappointed that the drilling results indicate that we have not yet hit a material high grade intersection at Hides Creek or Gumots, but it must be remembered that we have only drilled eight holes and at what is a colossal exploration project with many prospects. To have hit a massive intersection in the first few holes was always an ambitious hope. The programme initially commenced in July 2011 and we expect that it will continue for many years.

Following our recent visit and discussions with Newmont, I remain extremely excited about the future of this project and am encouraged by Newmont's sensible approach to how the exploration is being managed. We are learning lessons from what we have done to date and working to ensure that future drilling brings about the best possible chances of success.

So whilst we will have to be patient during this next part of the exploration stage of this project, it should be remembered that the commitment to finding a giant or super-giant deposit has not waned at all, but just become more focused after experience gained at the property.

I look forward to announcing the drill results from the ongoing programme at Manus Island, with Newcrest, and developments regarding our project at Wamum, with Barrick, during the next two months."

Appendix

Gumots Drill Results

Mr Bill Howell, Exploration Director confirms:

"The best intersections in the three holes drilled at Gumots were in Hole GMS001: Although core assay results for 89m of the 714m drilled in the third diamond drill hole at Gumots are still awaited, the best results returned to date are 2m of 0.67 g/t gold from 105-107m hole depth and 47m of 0.17 g/t gold from 208-255m. Hole GMS002: 1.7m @ 0.13% copper and 0.36g/t gold from 277.8m, and Hole GMS003: 2m @ 0.46g/t gold from 403m hole depth. There are no significant copper values in the results received to date".

Mr Bill Howell, as a Fellow of the Australasian Institute of Mining and Metallurgy and with more than 44 years of relevant experience in mineral exploration, is qualified as the Competent Person under the JORC 2004 Code and the AIM Note for Mining, Oil and Gas Companies 2009. He has reviewed the information contained in this statement and authorized its release.

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