JV with Newcrest

 17 November 2010

Triple Plate Junction Plc

("TPJ" or the "Company")

Joint Venture with Newcrest

TPJ, the AIM-listed gold exploration company focused on South East Asia, is pleased to announce that it has today signed a joint venture agreement with Newcrest Mining Limited ("Newcrest") in relation to the Manus Island Joint Venture in Papua New Guinea ("PNG"). TPJ now has joint ventures with three of the world's four largest gold miners.

The terms of the Newcrest joint venture are consistent with the previously executed Heads of Agreement reported in TPJ's announcement of 29 September 2010.

TPJ, through its wholly owned PNG subsidiary Terenure Limited, currently holds a 75.98% participating interest in the tenements in joint venture with Pacrim Energy Limited ("PRE", 13.43%) and Golden Success Limited ("GSL", 10.59%).

Under the agreement, Newcrest may earn 80% of TPJ's participating interest (leaving TPJ with an interest of 15.20%) by funding A$6 million of project expenditure over the next five years, of which at least A$1 million of project expenditure must be funded within the first two years. PRE and GSL may each contribute project expenditure in proportion to their participating interests or dilute to a 10% interest, free-carried to decision to mine. Newcrest is Manager of the project.

Newcrest is the world's third largest gold producer and is listed on the Australian stock exchange (ASX: NCM) with a current market capitalisation exceeding A$30 billion. It has a long history of major gold and gold-copper resource discovery through exploration, and development of ore bodies, both by open cut and underground, selective or bulk mining methods.

Tony Shearer, TPJ's chairman, said:

"We are delighted that with Newcrest, TPJ now has joint venture agreements with three of the world's four largest gold miners. We believe this agreement underlines the scale of the potential of TPJ's assets in Papua New Guinea and, with the Company now on a firm financial footing, puts us in a comparable position with similar companies operating there.

"It is expected that a helicopter-borne geophysical survey will be undertaken in early 2011, which could allow drilling to commence later in the year."

For further information, please contact:

Triple Plate Junction Plc +44 (0) 20 7602 1570

Tony Shearer

Daniel Stewart & Company plc +44 (0) 20 7776 6550

Antony Legge / Oliver Rigby

Financial Dynamics +44 (0) 20 7831 3113

Ben Brewerton / Oliver Winters

This announcement is also available on the Company's web site: www.tpjunction.com

The announcement by Newcrest can be found on www.newcrest.com.au

The directors of TPJ, accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the TPJ directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. 

Daniel Stewart & Co, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as financial adviser to TPJ and no-one else in connection with the possible offer and the other matters described in this announcement and will not be responsible to anyone other than TPJ for providing the protections afforded to clients of Daniel Stewart & Co or for providing advice in relation to the possible offer, the contents of this announcement or any other matter referred to herein.

Disclosure requirements of the Takeover Code (the "Code")

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.