Half Yearly Report

TRIPLE PLATE JUNCTION PLC

("TPJ" or the "Company")

INTERIM REPORT FOR SIX MONTHS ENDED 30 SEPTEMBER 2012

Highlights

·; Morobe - drilling was suspended at the project earlier in the year in order for priority targets to be accessed and assessed through programmes of mapping and sampling. Newmont has continued to invest into the project at the rate of approximately $1 million per month in order to de-risk future drilling and is assessing several prospects. We currently expect Newmont to resume drilling some time in 2013 though we have not yet seen their budget for the six months to the end of June 2013. The Company has a 25% undilutable carried interest in the Morobe project through to the commencement of commercial production.

·; Manus Island - Newcrest has completed its $6 million earn-in to the project. It has commenced, and post period completed, the initial diamond drilling campaign at both the epithermal prospect at Kisi (6 holes completed) and the porphyry target at Arie (3 holes completed). Disappointing results from the drilling at Kisi have been announced, with the results from the drilling at Arie expected to be received, reviewed and announced before the end of the calendar year. Next steps at the project and the budget going forward will be confirmed during early 2013. The Company has a 15.2% interest in the Manus Island project and has, to date, continued to pay it's pro rata share of the costs.

·; Wamum - Barrick have been undertaking field work at 4 areas within the JV acreage following the grant of a budget of approximately $550,000 to identify future drill targets. The results of this work are expected before the end of the calendar year. The Company has a 12.14% interest in the project and has, to date, continued to pay it's pro rata share of the costs.

·; Crater Mountain - no further drilling has been undertaken after the 10,000 metres drilling programme was completed earlier in the year. Whilst the stalling of the development of this project is frustrating the Board appreciates the difficulty that Gold Anomaly, as operator, has in the current global markets to obtain exploration capital. The Company has an 8% free carried interest in the project through to the completion of bankable feasibility studies on potential developments.

·; Vietnam - following disappointing exploration results, management decided to focus on Papua New Guinea ("PNG"). No further exploration costs have been incurred in Vietnam since August 2011. Despite showing the asset to major mining companies during July and August 2012 none of them wished to follow up with an investment. Post period end the Company has granted to its Exploration Director Bill Howell an option (expiring on 10 December 2012) to purchase the Vietnam asset (and any commitments and liabilities) for a nominal sum. If this option is exercised the Company will have a 10% free carried interest through to the commencement of commercial production.

·; The Company has continued to cut operating costs and accordingly has slowed the cash burn rate. The Directors currently estimate that the Company has sufficient funds to continue to operate the existing business into 2014.

Chairman's Statement

It is two and a half years since the Board of Triple Plate Junction was restructured with Chris Goss, Patrick Gorman and I joining, and almost two years since Fraser McGee became Chief Executive. In that time a lot has been achieved. In particular we have:

o Re-financed the Company on three occasions;

o Cleared up a number of legal claims;

o Reduced almost by half the number of companies in the Group;

o Reduced costs;

o Streamlined the Company's portfolio of interests; and

o Carried out a great deal of exploration work across each of our PNG and Vietnam projects.

In total, over the last three years we and our partners have spent approximately $60 million on exploration in PNG and Vietnam. Sadly the results have been disappointing as none of this work has yet identified any large ore bodies. The £1 million spent in Vietnam over the last two years has led us to believe that the project at Pu Sam Cap is not economically viable for the Company at this time. Accordingly we have granted Bill Howell an option (expiring on 10 December 2012) to purchase the asset (and indemnify the Company against any related liabilities) for a nominal sum whilst giving the Company a 10% free carried interest going forward.

We could not wish for better partners than Newmont, Barrick and Newcrest, as they bring expertise, experience, and cash and people resources that are far beyond what we could hope to muster. We are fortunate that we do not have to make any cash contributions to Newmont's project at Morobe where we have a 25% interest carried to production (they can reclaim our proportion of the expenditure, which they loan to us, out of future revenues from the project). We currently have a 12.14% interest in the project with Barrick at Wamum; if we did not contribute our shares of future expenditure, we would be diluted ultimately to a 1% Net Smelter Return royalty. We currently have a 15.2% interest in the project with Newcrest at Manus Island; if we do not contribute our share of future expenditure we will ultimately be diluted to virtually nil. Gold Anomaly has considerably fewer cash and human resources and has struggled to finance their expenditure; we have an 8% interest in the Crater Mountain project carried to feasibility. One of the consequences of being minority holders in all of our four projects is that we are reliant on our partners for our newsflow, and our exploration success.

The Board still believes that one or more of these projects is likely, ultimately, to find significant quantities of gold. However these projects may take quite some time as the areas and opportunities are vast. The time for the majors to reach a key economic milestone in their exploration may be longer than our own cash resources will last, and so over the last year we have been giving considerable thought to the options for the future business of your Company. We have cut our expenditure significantly; for example both our Chief Executive and Chief Financial Officer have agreed to reduce their salaries and to work fewer days per week. With these and other changes made to date we believe that we can now survive into 2014 without the need to raise further money. We are alert to opportunities to create value for shareholders by selling one or more of our interests in these joint ventures.

Accordingly we have been looking to see if we can start one or more new projects. One option is to explore parts of the PNG projects that Barrick, Newcrest or Newmont do not want to pursue. We have only been offered one such prospect to date, and that did not look attractive when we visited it. There may be other targets in PNG as well as globally which are below the thresholds of our JV partners and which they are prepared to "spin off" to us. Another option that we have recently begun to consider is to establish a partnership in South-Eastern Europe (for example in Serbia, Albania, Kosovo), areas where Patrick Gorman and Chris Goss have considerable expertise, and where we may be able to add value. Or we may be able to merge with another company. The Board is conscious that any such opportunity would dilute existing shareholders either to acquire the opportunity and/or to raise the funds needed for the exploration work. To date none of these options has presented an opportunity that we believe represents an acceptable balance of the upside with the risk and dilution for shareholders. But we continue to look.

Over the next few months we may be able to cut our corporate overhead further, even though we recognise that this will mean that there will be fewer opportunities for shareholders and journalists to contact our management; shareholders will, of course, still be able to read news releases on our website. By "hunkering down" we will stretch our cash resources longer and give our joint venture partners more time to produce the exploration results that should drive the share price again. The Board recognises that this strategy is dependent on exploration results from Newmont, Newcrest and Barrick, which is why we are, at the same time, looking at the possibility of new projects.

As always the Board is keen to obtain the views of shareholders. Please let me know what yours are.

Tony Shearer

[email protected]

23 November 2012

CEO's Review

The financial statements for the six months ended 30th September 2012 cover a period of continuing development for the Company.

Morobe

At our Morobe project with Newmont the Company holds its undilutable 25% carried interest through to the commencement of commercial production. A new Morobe project head was appointed by Newmont earlier in the year to manage the development of this important project (their number one green field exploration project globally from a budget perspective this year). Their management team decided to suspend drilling in June after the drill testing of the first 2 prospects (Hides Creek and Gumots where 8 holes were drilled in total) showed that there was unlikely to be a commercially viable deposit in the areas tested at those sites. Newmont decided to suspend the drilling so that they could focus on de-risking future drilling by gaining access to and assessing the potential of the 13 other prospects within the JV territory.

Newmont continue to spend approximately $1 million each month (total to end September 2012 of $26 million). They have now gained access to almost all of the targeted areas and have completed significant field work programmes including mapping and sampling, helicopter-borne radiometric geophysical surveying, IP surveying and the construction of further camps in anticipation of recommencing drilling. They bring a robust exploration budget to the end 2012 and a practical and efficient approach to ensuring that, as far as is possible in the high risk exploration business, future drilling within the JV ground is undertaken only after an exhaustive process of due diligence is completed. The effect is that future drilling is de-risked accordingly.

We are waiting for Newmont confirming the project budget for 2013 and anticipate being able to announce the future plans for drilling at and development of the project in the coming months.

Manus Island

We announced in April that Newcrest had commenced drilling at our Manus Island project with a target of approximately 3,000 metres to be drilled over two prospects, Kisi an epithermal and Arie a porphyry target (the actual total depth completed was just over 3,000 metres). Drilling of both prospects was completed post period in October and the drill rig demobilised back to the mainland whilst the drill data is being collected, reviewed and next steps at the project decided upon. It is anticipated that Newcrest will complete this process during January 2013.

The drill results from Kisi were announced in two parts on 18th October and 14th November 2012. Newcrest have continued to work at an impressive rate on Manus Island and completed their $6 million earn-in to the project during May which gave them a 64.8% interest and left the Company with a funding 15.2% interest going forward. Failure to fund its interest would result in an eventual dilution to virtually nil. We look forward to announcing the results from the drilling campaign at Arie before Christmas.

Wamum

Our Wamum JV is managed by Barrick which has now spent over $10 million at the project. The budget this year has been modest and we have contributed a total of USD 9,000 this financial year to maintain our 12.14% interest. During the period Barrick spent $550,000 undertaking fieldwork in four areas of interest within the territory along the Wafi geological trend. We are waiting for the results. Whilst progress over the last year has been slow we hope that the asset will benefit from a dynamic work programme which could be commenced during the early part of 2013. Further announcements with field work results and development plans are expected over the coming months.

Crater Mountain

In January 2012 we announced that we had elected to take an 8% "free carried" interest in the project (carried through to the completion of bankable feasibility studies on potential developments). Since then there has been no further drilling undertaken after the 10,000 metres drilling programme was completed earlier in the year. Whilst the stalling of the development of this project is frustrating, the Board appreciates the difficulty that Gold Anomaly has in the current global markets to obtain exploration capital for early stage projects such as Crater Mountain, and hopes that the situation changes and drilling can recommence soon.

Vietnam

As previously announced the Board resolved in 2011 that shareholders' funds would be best directed at our existing assets in PNG and not in the ground in Vietnam. The geological structure at Pu Sam Cap was discovered to be not as anticipated following our short drill campaign in 2011. During March 2012 the Board commissioned a final independent geologist's report which detailed the existence of what appeared to be two contiguous porphyry systems on the property, and on the back of this information the Company worked to bring in a major mining company as a joint venture partner. However following discussions and a site visit by one company, no partner could be found to develop the project. During September, the Company secured a new exploration licence pursuant to the new mining legislation in relation to the existing property. Following this the Company has granted the Exploration Director, Mr Bill Howell, who is based in Vietnam, an option to acquire the property for a nominal amount. That option expires on 10 December 2012 and upon exercise would entitle the Company to a 10% future undilutable carried interest in the project. No further exploration costs will be incurred by TPJ in Vietnam.

Financial

The Company's financial position as at 30 September was that the bank balances stood at approximately £1,729,000 and liabilities were approximately £226,000. These liabilities included £156,000 owed to Newmont Mining for the repayment with interest of their 2010 Convertible Loan Notes issued by the Company, and which has been repaid post period end.

Fraser McGee

23 November 2012

For further enquiries please contact:

For further information, please contact:

Triple Plate Junction Plc +44 (0) 7775 693 237

Fraser McGee

finnCap Limited +44 (0) 20 7220 0500

Matthew Robinson/Christopher Raggett

Copies of this announcement are available to view on the Company's website at: www.tpjunction.comTRIPLE PLATE JUNCTION PLC

INTERIM REPORT FOR SIX MONTHS ENDED 30 SEPTEMBER 2012

TRIPLE PLATE JUNCTION PLC

INTERIM REPORT FOR SIX MONTHS ENDED 30 SEPTEMBER 2012

TRIPLE PLATE JUNCTION PLC

INTERIM REPORT FOR SIX MONTHS ENDED 30 SEPTEMBER 2012

TRIPLE PLATE JUNCTION PLC

INTERIM REPORT FOR SIX MONTHS ENDED 30 SEPTEMBER 2012

Consolidated statements of changes in equity

TRIPLE PLATE JUNCTION PLC

INTERIM REPORT FOR SIX MONTHS ENDED 30 SEPTEMBER 2012

Notes to the interim financial information

1. No dividend is proposed in respect of the period

2. The results for the period ended 30 September 2012 are derived from continuing activities.

3. Basis of preparation

This interim financial information has been prepared in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union with the exception of IAS 34 Interim Financial Reporting, and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The accounting policies, methods of computation and presentation used in the preparation of the interim financial information are the same as those used in the Group's audited financial statements for the year ended 31 March 2012.

The financial information in this statement does not constitute full statutory accounts within the meaning of Section 434 of the Companies Act 2006. The financial information for the six months ended 30 September 2012 and 30 September 2011 is unaudited. The comparative information for the year ended 31 March 2012 was derived from the Group's audited financial statements as filed with the Registrar of Companies. It does not constitute the financial statements for that year. The auditors reported on those financial statements; their report was unqualified, did not contain a statement under section 498(2) or 498 (3) of the Companies Act 2006, and did not include reference to any matters to which the auditor drew attention by way of emphasis

4. Loss per share

The calculation of loss per share is based on a loss of £439,000 for the period ended 30 September 2012 (30 September 2011: loss of £811,000; 31 March 2012: loss of £5,068,000) and the weighted average number of 367,782,303 shares in issue (31 March 2012: 324,677,631; 30 September 2011: 297,234,924). There is no difference between the diluted loss per share and the loss per share presented.

Share options and warrants that could have a potentially dilutive effect on earnings per share in the future as at 30 September 2012 were:

·; 18,400,000 share options in issue

·; 7,943,780 warrants in issue at prices between 1.2 and 2.5 pence per share