June 14, 2004

TERTIARY BEGINS DRILLING OF DIAMOND TARGET IN FINLAND’S KARELIAN CRATON

• 16-Hole Programme To Define Kimberlite Footprint Hidden Under Soil Cover
• Core from One 100m Deep Hole To Be Sampled For Micro-Diamonds
• Company Enlarges Finland Diamond Search With Ground Magnetic Survey On Additional Kimberlite Target

AIM-listed Tertiary Minerals plc is pleased to announce that it has today started a drilling programme on its Finnish diamond project and is adding to its diamond interests within the vicinity. The exact location is being withheld temporarily for commercial reasons.

The start of drilling follows ground geophysical programmes completed last month defining the boundaries of the target magnetic anomaly which, based on previous exploration reports, is believed to be caused by a small kimberlite pipe.

Tertiary’s programme will include one hole approximately 100m deep which is designed to confirm the presence of kimberlite and, if successful, collect sufficient kimberlite for an initial appraisal of micro-diamond content (a initial guide to diamond prospectivity). A further 15 shallow holes are planned to collect additional kimberlite and define the footprint of any kimberlite present beneath the cover of glacial till. Results from the completed programme should be known by early August.

Work also begins today on a ground magnetic survey with the objective of defining the surface position of a second kimberlite target. This target has a very similar aeromagnetic signature to the target now being drill-tested and was identified in a regional generative programme which has highlighted a further 19 priority targets.

All of these targets lie within the Karelian Craton, a block of ancient crustal rocks which dominates Finland’s geological make up. The Karelian Craton is considered to exhibit all the characteristics necessary to host and preserve diamondiferous kimberlites and extends across the border into Russia where it hosts the world-class Arkhangelsk diamond deposits (www.gsf.fi/explor/eco_diamond_frame.htm).

Further Information: Patrick Cheetham, Tertiary Minerals:
Tel: 01625-626203

Ron Marshman/John Greenhalgh, City of London PR Ltd.
Tel : 020-7628-5518