May 31, 2005

TERTIARY’S SUNRISE DIAMONDS ASSOCIATE TO LIST ON AIM ON JUNE 6

• Spin-Out Meets Objective Of Building On Value Inherent In Tertiary - Chairman
• Search Stepped Up For Advanced Project Capable Of Generating Cash Flow
• Several Parties Interested In Joining Tertiary To Fund Ghurayyah Tantalum Project

AIM-listed Tertiary Minerals plc reports that its Sunrise Diamonds plc associate is today completing its previously announced pre-listing placement of additional shares and will be making an application for admission to AIM, with trading in the shares expected to begin on June 6, 2005. Tertiary retains a 26.53p.c. interest in Sunrise.

In the interim statement for the six months ended March 31, 2005, Tertiary’s executive chairman, Mr Patrick Cheetham, says the spin-out of the company’s diamond interests into Sunrise was part of the objective of building on the value inherent in Tertiary. A large number of shareholders took up their entitlements to new “seed capital” shares in Sunrise in that offer, to the extent that it was over-subscribed and an additional 10m shares were issued.

This raised over £400,000, some of which will be utilised to cover the cost of Sunrise Diamonds’ AIM listing. The balance, together with the additional funds raised by the pre-listing share placement, will enable Sunrise to fund its immediate diamond exploration programme in Finland.

Whilst continuing exploration at its existing projects, the company has geared up its search for an advanced minerals project capable of generating cash flow. Andrew Dixon has recently been recruited to the management team to focus this effort, and a number of projects are under active evaluation.

Several parties have expressed interest in joining Tertiary to fund feasibility studies for development of its world-class Ghurayyah tantalum project in Saudi Arabia. The company says there is renewed interest in this 400m tonne project following a recovery in the tantalum market and the country’s adoption of a new mining law.

Tertiary reports a loss of £314,346 for the half year, comprising administrative costs of £186,816, written-off exploration costs of £137,328 and bank interest income of £9,798.

Patrick Cheetham, Tertiary’s chairman and chief executive said today: “I believe that our present initiative will have a positive impact in the medium term, particularly when retail investors return to the junior mining sector”.

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

John Greenhalgh/Ron Marshman, City of London PR Ltd.
Tel: 0207-628 5518