Financing Update

For Immediate Release 2 July 2010

AIM: TPJ

Triple Plate Junction PLC

(the "Company" or "TPJ")

FINANCING UPDATE

Highlights:

·; Immediate financial needs provided

·; £230,000 of convertible loan from certain shareholders

·; Ability to source further funding, if required

Triple Plate Junction the AIM listed gold exploration company focussed on South East Asia today announces that it has secured a convertible loan from certain of its shareholders, thus providing for its immediate financial needs.

On 28th June 2010 TPJ announced that it had less than £50,000 of available cash and does not, currently, have shareholder authority for the allotment of further shares in order to raise new equity capital. The Company also announced that the Board was in discussions with a number of shareholders in relation to the provision of convertible loans to provide the Company with the necessary operating capital until such time.

Today the Board announces that it has entered into agreements with each of Newmont Ventures Limited ("Newmont"), Asterion AV Limited ("Asterion") and Strategi Menkul Degerler A.S. ("Strategi") (together, the "Lenders" or, individually, a "Lender") for the provision of a total of £230,000 of loans to the Company by no later than close of business today through the issue of 10% Coupon Convertible Loan Notes ("Loan Notes"). The agreement with Newmont is in respect of £150,000 Loan Notes, with the balance of £80,000 Loan Notes being subscribed by Asterion and Strategi. The Lenders, have indicated that, in certain circumstances, they will provide similar amount of further funding, by way of equity or debt, by 31 October 2010 if requested by the Board of TPJ.

The Loan Notes are to provide TPJ with current and short-term working capital in order to prepare the corporate information and exploration update that is required in order to present a business plan and to support a series of resolutions at a meeting of shareholders that is planned to take place by the end of September 2010. The Loan Notes have an annual rate of interest of 10%, and are repayable by 31st December 2011, unless repaid sooner at the option of the Company, or converted sooner at the option of the Lender, subject to the Company's ability to issue sufficient equity. The Loan Notes are convertible at the rate of 1p per share.

Subject to the conversion of its Loan Notes to equity, each Lender shall also be granted one warrant for every new share issued upon conversion, exercisable within 5 years at 1.20p per share or, if lower, at 20% above the Company's next equity issue price (subject to the exercise price not being less than 1.0p per share). The number of shares issued as a result of these warrants cannot exceed 25% of the then issued share capital of the Company (after taking account of the new shares to be issued in respect of the warrants).

The Board has agreed to provide the Lenders with security if and to the extent that the general meeting to be held by the end of September 2010 fails to pass the resolutions necessary for (i) these loans to convert into Ordinary shares, (ii) shares to be issued pursuant to the exercise of the warrants, or (iii) the purpose of the general authority referred to below.

The Board also intends to seek general authority from shareholders at that general meeting of the Company for the allotment of further new Ordinary shares and intends, thereafter, to explore funding alternatives which may include an equity fundraising, subject to market conditions.

Related Party Opinion

Under the AIM Rules for Companies the Loan Note subscription by Newmont Ventures Limited ("Newmont") is classified as a related party transaction. Accordingly, the directors of the Company consider, having consulted with Arbuthnot Securities Limited, the Company's Nominated Adviser, that the terms of the transaction with Newmont are fair and reasonable insofar as the Company's shareholders are concerned.

Tony Shearer said:

"I am very pleased that we have obtained these loans from Newmont, Asterion and Strategi. The loans enable us to continue to operate over the coming months, until such time as we can request authority from our shareholders to allot shares, and can raise adequate equity capital with which to implement re-invigorated business plans. The Company has a number of exciting projects and these funds enable us to make progress. The loans also show a high degree of confidence in the Company's future."

Enquiries:

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