Update on Proposed Manus Island JV

For Immediate Release

29 September 2010

Triple Plate Junction PLC

(the "Company" or "TPJ")

TPJ ANNOUNCES UPDATE ON PROPOSED JOINT VENTURE INVESTMENT BY NEWCREST MINING LIMITED IN THE COMPANY'S MANUS ISLAND TENEMENTS IN PAPUA NEW GUINEA

Highlights:

·; Newcrest to farm into TPJ's Manus island tenements in Papua New Guinea

·; TPJ now working with Newcrest, Newmont, Barrick and Gold Anomaly

TPJ, the AIM-listed gold exploration company focused on South East Asia, is pleased to announce that following the signing of a non-binding Heads of Agreement on 31 March 2010 with Newcrest Mining Limited ("Newcrest") in respect of funding substantial exploration on the Company's Manus Island, Papua New Guinea ("PNG") tenements, the parties are currently negotiating definitive agreements, subject to required approvals by PNG authorities.

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 proposed definitive agreements 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 within five years of completion of the agreements, including a commitment to fund at least A$1 million of project expenditure 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 would be Manager of the project.

TPJ expects to provide an update statement, including the results of the Board's assessment of the exploration projects, with the Annual General Meeting on 30 September 2010. A further announcement will be made in due course in relation to the Newcrest joint venture.

Newcrest (ASX: NCM) is the world's fourth largest gold producer with a current market capitalisation approaching 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.

Bill Howell, Interim CEO and Director of Exploration, said:

"With Newcrest farming into our Manus Island project, TPJ will have separate joint ventures in PNG with three of the world's largest gold mining companies, the other two being with Newmont Mining Corporation and Barrick Gold Corporation. It is testimony to TPJ's ground selection capability and initial exploration work that we can attract such prestigious partners. Newcrest with its experience and technical expertise is an ideal company to prove up the potential of the known Manus Island gold and copper mineralisation." 

The Manus Island project comprises Exploration Licences 1326 and 1473 covering an area of approximately 674 square kilometres. A number of mineralized centres have been recognized over a 30 kilometre long NW-SE corridor. Some highlights of the geological prospectivity within this corridor are:

·; Previous exploration had concentrated on Miocene aged gold and molybdenum-rich porphyry copper deposits at Arie and Mt Kren. TPJ's re-interpretation of induced polarization (IP) geophysics carried out previously at Mt Kren shows the top of a significant anomaly at 175 metre depth with E-W dimension of around 500 metres on the eastern edge of known mineralization. This anomaly needs to be tested by drilling;

·; New age-dating that assigns a younger early Pliocene age to rocks surrounding a remnant strato-volcanic complex, together with widespread recordings of tellurium mineralization, has given added impetus to the possibility of tellurium-rich gold targets within the licences. An extensive silica-alunite alteration cap at the Njekel prospect remains untested for any underlying mineralization;

·; TPJ has focused its exploration work on the Kisi epithermal gold occurrence, which is complicated by swamp, gold-bearing colluvials and volcanic cover, but where a gold-in-soil anomaly of +0.5 parts per million extending some 2 kilometres by 1 kilometre has been delineated, and surface trench sampling of the intermittently exposed Kisi vein has returned some high gold values including 16 metres at 40 grammes per tonne gold;

·; Limited scout diamond drilling by TPJ at Kisi has intersected a series of gold-bearing veins as silica replacement of limestone beneath andesitic volcanic cover. Best drill-hole intersection from a three-hole programme to date has been 5.8 metres at 4.98 grammes per tonne gold from 116.4 metres hole depth.

WJS (Bill) Howell, BSc(Hons), FAusIMM, as the competent person under the JORC 2004 code has reviewed this statement and authorised its release.

Enquiries:

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