Operational Update

Triple Plate Junction Plc ("TPJ" or the "Company")

Operational Update

TPJ provides the following update on current activities and operations and future options for the company.

In summary, 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. It also currently has net cash of £1.2 million.

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 licenses would terminate as they came up for renewal, excluding any in which TPJ may have an interest.

Papua New Guinea; Crater Mountain

As announced in April 2013, TPJ sold its 8% interest in the Crater Mountain project to Gold Anomaly for Australian $ 200,000 (approximately £135,000). 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

This month Newcrest are due to advise TPJ of their exploration plans for the 2013/14 financial year.

The future for TPJ

TPJ has been looking to see if it 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 Guineamay 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 crystallized 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.

For further enquiries please contact:

For further information, please contact:

Triple Plate Junction Plc

Tony Shearer [email protected]

finnCap Limited +44 (0) 20 7220 0500

Matthew Robinson/Christopher Raggett