Tethyan Resources Regulatory News (TETH)

12 November 2010

Triple Plate Junction Plc

("TPJ" or the "Company")

Joint Venture Update

Triple Plate Junction Plc, the AIM quoted gold exploration company which has joint ventures with two of the world's four largest gold miners, Barrick and Newmont, and a heads of agreement with a third, reports that its partner on the Crater Mountain project in Papua New Guinea, Gold Anomaly Limited ("Gold Anomaly"), has announced a fund raising of A$2.3 million to fund an expanded drilling program at Crater Mountain.

Gold Anomaly's announcement refers to Crater Mountain as its "flagship project" with the potential to become "a multi-million ounce gold deposit". Crater Mountain consists of three contiguous exploration licences spanning some 300km² in the highlands of Papua New Guinea. The drilling program will target the Nevera prospect, which is the most advanced of the four gold bearing areas identified to date and it will build on previous drilling work by others, including TPJ. The fund raising allows Gold Anomaly to bring forward and expand drilling from the initially planned 1,500 metres to 2,500 metres. Drilling is now expected to commence on 21 November 2010.

Gold Anomaly has also announced that New Guinea Gold Limited ("NGG"), a minority partner in the Crater Mountain project, has signed a letter of intent whereby Gold Anomaly will acquire NGG's 10 per cent. carried interest in the project in exchange for 31,250,000 Gold Anomaly shares. This values the Crater Mountain project at approximately A$11.8m, based on the closing mid price on 12 November 2010 of A$0.038 on Gold Anomaly's shares.

Tony Shearer, Non-Executive Chairman commented:

"We are delighted that Gold Anomaly has raised funds to put in place a more aggressive drilling programme at Crater Mountain, significantly ahead of the original start date. We are in close touch with Gold Anomaly regarding the drilling programme and our active involvement in the project.

We believe that the announcement by Gold Anomaly together with the recently declared interest of Newmont confirms the potential in TPJ's assets."

The full announcement can be found on Gold Anomaly's web site: www.goldanomaly.com.au

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 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.

Sources of information and basis of calculations

The closing mid price of Gold Anomaly's shares is the price at the end of the trading day on 12 November 2010, being two days after the announcement of the fund raising and the proposed deal with NGG and one day after the completion of the fund raising. As at the date of this announcement, Gold Anomaly has 1,048,342,493 shares in issue, being post the fund raising but excluding any shares to be issued to NGG or in respect of options. 

(see also: http://www.asx.com.au/asxpdf/20101112/pdf/31tvrr828xtm3b.pdf)

Notes to editors

In its announcement on 11 November 2010 Gold Anomaly stated that:

"Drilling at Nevera will focus on proving the geological model of diatreme-breccia hosted mineralisation indicated by two separate zones of mineralisation defined by previous drilling namely the Eastern "Main Mineralized Zone" and Western "Artisanal Mining Zone". The drill intercepts to date in each zone are as follows:

East "Main mineralized Zone"

NEV 02 121 metres at 1.77 g/t gold

NEV 05 151 metres at 1.38 g/t gold

NEV 08 178 metres at 1.30 g/t gold

NEV 10 129 metres at 0.61 g/t gold

NEV 11 205 metres at 0.86 g/t gold

West "Artisanal Mining Zone"

NEV 04 106 metres at 0.50 g/t gold

NEV 09 18 metres at 1.94 g/t gold

The drilling programme is being led by director and exploration manager Peter Macnab, who has played a key role in the discovery of major mineral deposits totalling some 100Moz gold equivalent throughout PNG over the past four decades. Mr Macnab's view is that the diatreme-breccia zone outlined at Nevera is analogous to the the diatreme hosted geological setting at the 6.5Moz Wafi Creek (Newcrest/Harmony Gold), which Peter discovered. In addition, Crater Mountain displays similar geological settings to both Kelian (Indonesia) and Acupan (Philippines), both of which host orebodies in excess of 1Moz gold.

Previous work has indicated Nevera is a huge alteration system with evidence of a porphyry deposit at depth. By contrast to Wafi Creek and other similar deposits in PNG, there has been much less drilling at Nevera and many anomalous zones, both at Nevera and other prospects at Crater Mountain, remain to be tested."

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.