Project Updates - Papua New Guinea

Triple Plate Junction Plc

("TPJ" or the "Company")

Project Updates - Papua New Guinea ("PNG")

On 3rd December 2012 TPJ, the AIM-listed gold exploration company focused on South East Asia, announced that it had been notified by its project partner, Newmont Ventures Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM) ("Newmont"), that it will not be allocating a development budget to the joint venture's Morobe project for 2013. TPJ now announces that Newmont has decided to terminate its search for large bulk tonnage gold/copper porphyry systems (target minimum 5 million ounces) at the JV property, and that Newmont is in the process of exploring their options in consultation with TPJ.

Following the Company's own exploration and that conducted by Newmont on behalf of our JV there is a very significant amount of related data which TPJ is evaluating in order to determine whether there are areas within the JV territory which may be appropriate and suitable for TPJ. Of particular interest are areas containing high grade targets that Newmont have discounted as too small for their requirements but which could be of great interest to the Company to develop. Whilst recognising that the costs of exploring in PNG are very high, TPJ has engaged the services of an experienced team of geologists to commence the process of reviewing the project data. The anticipated report is expected to be delivered by the end of February 2013, and a further announcement will then follow.

TPJ is also in discussions with Barrick Gold Corporation about their future intentions for the joint venture at Wamum, where exploration work over the last two years has been very limited.

The Company is also awaiting the results of Newcrest Mining's drill holes at Arie which have now been due for a month.

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