AUGUST 21, 2001

TESTS INDICATE THAT HIGH GRADE TANTALUM CONCENTRATE CAN BE PRODUCED AT TERTIARY'S 1.3Mt DEPOSIT IN FINLAND

· Lakefield Research Describes First Two Tests As "Highly Promising"
· Good Tantalum Recovery With Further Improvement Possible
· Geological Survey Of Finland In Charge Of Sampling Process

AIM-listed Tertiary Minerals reports first metallurgical tests on samples from its 1.3m tonne Rosendal tantalum deposit on the south-west coast of Finland show that a high grade tantalum concentrate can be produced using a low-cost gravity concentration method. Recoveries are similar to those obtained in existing commercial operating plants.

Lakefield Research Canada Ltd is conducting the testwork programme and has provided results from the first two of ten planned gravity concentration tests.

The results are described by Lakefield as "highly promising" who add that "further improvement in recovery may be achieved." Lakefield also state that a higher grade of concentrate could be obtained (i.e. greater than 50p.c. tantalum pentoxide, Ta2O5) through separation of sulphide minerals contained in the gravity concentrate.

Tertiary says that the first two tests were not optimised but nevertheless, test G1 recovered 73.6p.c. of the total contained tantalum into a rougher concentrate that was cleaned to a concentrate grading 44.5p.c. Ta2O5, whilst test G2, at a finer grind size than test G1 recovered 66.0p.c. of the contained tantalum into a rougher concentrate cleaned to a concentrate grading 40.5p.c. Ta2O5.

The testwork sample was collected by the Geological Survey of Finland on contract to the company and came from five surface trenches. The head-grade of 620g/t Ta2O5 was 28p.c. higher than the average grade of previous samples taken over the same area.

Patrick Cheetham, Tertiary's chairman said today: "The results from Lakefield are all one could hope for from such preliminary tests. We are now planning the next stage in evaluating the deposit which will include infill drilling and economic scoping studies."

Lakefield's testwork continues and will include investigation of the recovery of industrial minerals, feldspar and quartz which comprise the bulk of the tantalum bearing pegmatite. The Rosendal tantalum bearing pegmatite has been estimated by the Geological Survey of Finland to contain 1.3m tonnes to a vertical depth of 100m with an average grade from previous surface sampling and limited drilling of 289g/t. Ta2O5. The deposit is adjacent to an existing industrial minerals process plant and ship-loading facilities.

Further info:

Patrick Cheetham, Executive Chairman, Tertiary Minerals plc, Tel: 01625-626203

Ron Marshman or Ken Gooding, City of London PR, Tel: 020-7628-5518