Board Appointment And Project Update

BOARD APPOINTMENT AND PROJECT UPDATE

 

Board Appointment

TPJ is pleased to announce that Patrick Gorman is rejoining the Board of the Company with effect from 1st February 2014. Patrick was a member of the Board from 1 June 2010 until 19 January 2011. He steps up from the Advisory Board of the Company, where his place as Chairman will be taken by Dave Royle who is a Fellow and Chartered Professional of the Australasian Institute of Mining and Metallurgy and Fellow of the Society of Economic Geologists. Dave has extensive international experience in exploration for precious metals, base metals and diamonds with major multinational resource companies over the past 40 years.

Update On Projects

TPJ has at present an interest in a project in Vietnam and in four joint ventures in Papua New Guinea.

Vietnam: Pu Sam Cap

Bill Howell’s team is awaiting assay results. If these results are sufficiently encouraging they should provide the vectors to identify some deep drill holes.

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. These negotiations are still progressing, albeit very slowly.

Papua New Guinea: Morobe

We are in advanced discussions with another junior company with a view to taking an interest in one of the licence areas.

Papua New Guinea: Crater Mountain

Progress in completing the conditions to our divestiture of this asset (which are outside our control) has been slow. As a result the Australian $200,000 (which is due to us under the contract in respect of the sale of our former interest in the Crater Mountain project) is still in the Escrow Account.

Papua New Guinea: Manus Island

Newcrest are assessing potential drilling targets and we expect them to take a view on a possible drilling programme during the first half of 2014.

Other projects

We have continued actively to pursue a number of new ventures and possibilities, including one copper project in Ethiopia, a gold project in Australia, an Antimony Project in Australia, and two oil and gas projects in the United States, as well as the opportunity to do further exploration in South-East Asia. Whilst progress has been made, due to confidentiality restrictions, the Board is not yet in a position to announce any details, and which, if any, of these projects it expects will come to fruition.

Tony Shearer, Chairman of TPJ, said:

“I am very pleased that Patrick has decided to rejoin the board, which will now comprise him, Chris Goss and me, with the Advisory Board comprising Dave Royle (chairman), Bill Howell and John Catchpole. This I believe gives us a balanced structure as we continue to consider the future projects and opportunities that lie ahead for the company.

We remain committed to finding new opportunities for the Company and creating value for our shareholders. We will update shareholders as soon as practically possible, and when we are able to do so,”

Patrick William Gorman, 61, BSc., ARSM, MSc, C.Eng, MIOM3, Eur.Ing, JP, is a mining engineer with almost 40 years of managerial, technical and project experience. He has managed development programmes, pre-feasibility studies, conceptual evaluations, scoping and acquisition studies and provided post privatisation support and technical audits for project financing. His feasibility study experience has included Escondida copper in Chile, Rebecca gold in Zimbabwe, Loma de Niquel in Venezuela and Castellanos lead/zinc in Cuba.

He has led or been a key member of long term technical re-development and co-operation programmes at Trepca-UNMIK in Kosovo, Jiangxi Copper in China, Buryatzoloto Gold in Russia and Zhayrem Manganese in Kazakhstan.

He has extensive experience in the formation, management, legal representation and business development of mining companies and consultancies in Australia, Chile and the UK. He has held non-executive positions on the boards of AIM and TSX companies.

 

Enquiries

Triple Plate Junction Plc

Tony Shearer                                                                            tony@tonyshearer.com

finnCap Limited                                                                        +44 (0) 20 7220 0500

Matthew Robinson/Christopher Raggett

 

The following information in relation to Mr. Gorman is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

Full name: Patrick William Gorman

Shares held: None

Options held over 7,600,000 shares in the Company

Age: 61

Current Directorships/Partnerships

Directorships/Partnerships held in the last five years

Puma Resources Limited

Virgin Metals Inc

Galileo Minerals Limited

Semper Resources Limited

 

There are no other matters which are required to be announced pursuant to Schedule 2(g) of the AIM Rules for Companies.