RELEASED BY CITY OF LONDON PR LIMITED ON BEHALF OF TERTIARY MINERALS PLC: NOVEMBER 6 2001 TERTIARY AWARDS CONCEPTUAL STUDY ON ROSENDAL TANTALUM PROJECT TO GEOLOGICAL SURVEY OF FINLAND · Survey Assembles Special Team To Undertake Work · Underground And Open Pit Options To Be Considered · Includes Evaluation Of Ore Treatment At Nearby Processing Plant AIM-listed Tertiary Minerals plc has awarded the conceptual study for its Rosendal tantalum/ industrial minerals project in south-west Finland to the Geological Survey of Finland. The broad parameters of the study are: · To examine mine design, capital and operating costs for both an underground and open cut mining and mineral processing operations. · To evaluate the project both as a stand-alone operation and one which utilises the processing plant at the nearby Sibleco industrial minerals operation. · To consider any environmental issues relating to the project · To define a scope of work and budget for a pre-feasibility study on Rosendal. The Geological Survey of Finland has assembled a special project team to undertake the Rosendal study. This comprises: · Senior mining engineer Arto Hakola, a former consultant to Outokumpu Engineering Services and technical director of Minera Outokumpu Chile SA · Senior mineral processing engineer Jukka Karhunen, formerly with Kemira Oy · Reijo Alviola, senior economic geologist specialising in the mineralogy of pegmatites · Dr Jyrki Parkkinen, senior economic geologist specialising in resource evaluation and economic modelling The study will commence immediately and is expected to take approximately 4-6 weeks to complete. The Rosendal pegmatite deposit is estimated to contain 1.3m tonnes of material grading 289g/t of tantalum pentoxide to a vertical depth of 100m. Recent testwork on samples from the deposit undertaken by Lakefield Research, an independent Canadian laboratory, showed the pegmatite ore to be mineralogically simple and that the tantalum can be recovered in a relatively simple processing plant. This work also showed that most of the other constituents of the Rosendal ore are commercially valuable industrial minerals which can be recovered as marketable products. Further Information: Patrick Cheetham, Executive Chairman, Tertiary Minerals. Tel: 01625-626203 John Greenhalgh, City of London PR Ltd. Tel: 020-7628-5518