New Kimberlite discoveries

Sunrise Diamonds PLC
01 August 2005




TWO NEW KIMBERLITES DISCOVERED AT START OF SUMMER DIAMOND SEARCH

   • First Two Holes Into Separate Targets Give Positive Results
   • Best Combined Magnetic/Kimberlite Indicator Mineral Targets Yet To Be
    Tested


Sunrise Diamonds plc, ('Sunrise Diamonds' or 'the Company') is pleased to
announce the discovery of two new kimberlite bodies at Anomalies 45 and 47 in
its Kuusamo exploration area in northern Finland where the Company has just
commenced its summer drilling campaign. Core samples will be sent for
micro-diamond analysis.

The discoveries were made in the first two drill holes into the first two
magnetic anomalies selected for drilling by Sunrise Diamonds. Although the
magnetic anomalies appear relatively small, the first drill hole, testing
Anomaly 45, entered into kimberlite from bedrock surface to the end of the hole
at 70m depth and the second hole, testing Anomaly 47 some 800m away, also hit
kimberlite from bedrock surface to its current depth of 57m (drilling is
continuing). At least one further hole will test to see if the two kimberlites
form part of a more extensive kimberlite complex in this particular area.
Geologically, the new discoveries have characteristics of Group 1 kimberlite and
are similar in appearance to the Kalettomanpuro and Kattaisenvaara Group 1
kimberlites which the Company acquired from Tertiary Minerals plc.

Welcoming the result as another very positive early development for the Company,
Sunrise Chairman Mr. Patrick Cheetham said today 'Anomalies 45 and 47 were
selected for drilling purely on magnetic characteristics, before the results of
recently announced kimberlite indicator mineral ('KIM') sampling were complete.
The best combined magnetic/KIM targets defined so far have yet to be tested.'

ABOUT SUNRISE DIAMONDS

Sunrise Diamonds plc is exploring for diamonds in the Karelian Craton in Finland
- a geological block that is host to world-class diamondiferous kimberlites at
Grib and Lomonosova in the Arkhangelsk region of neighbouring Russia.

The Company was formed in 2005 to continue the diamond exploration activities of
its parent, Tertiary Minerals plc. A pre-IPO fundraising was completed as an
entitlement issue to the shareholders of Tertiary Minerals and was followed with
a placing on AIM admission on 6 June 2005.

In 2004 Tertiary Minerals discovered two new kimberlites in the Kuusamo district
of northern Finland in what is now known as the Kuusamo kimberlite cluster. Work
by the Geological Survey of Finland, on behalf of Tertiary, has indicated that
these kimberlites sampled the diamond window and that diamondiferous kimberlites
could exist in the cluster.

Since admission to AIM on 6 June the Company has progressed quickly in its
evaluation of its untested targets at Kuusamo and, to-date, KIMs have been found
in six samples associated with five of the initial magnetic targets. Drilling
will continue to progressively test priority targets defined by a combination of
magnetic anomalies and kimberlite indicator minerals. Indicator mineral sampling
and picking is continuing.

Further Information:
Patrick Cheetham, Sunrise Diamonds plc. Tel: [phone]. Mobile: +44 (0)
7767-458751
John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518



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