Drilling Report

Tertiary Minerals PLC
11 July 2001


             TERTIARY MINERALS PLC ('Tertiary' or 'the Company')



                 TERTIARY BEGINS SUMMER EXPLORATION PROGRAMME

                           ON SCANDINAVIAN PROJECTS

  * Field Work Will Seek To Define Drill Targets At Finnmark PGM Prospects
  * Metallurgical Testing Begins On Rosendal Tantalum Deposit
  * Search For Source Of Zinc-Rich Boulders Starts At Djuragruvan


As part of its summer programme on its Scandinavian exploration projects,
AIM-listed Tertiary Minerals Plc this week commences two months of field work
with the objective of defining drill targets on its Finnmark platinum group
metals (PGM) project in Northern Norway. This follows an extensive geological
and data review of the northern Karosjok greenstone belt where previous
drilling by the Norwegian Geological Survey (NGU) returned wide intersections
of PGM mineralisation from ultramafic intrusions on the Porsvann and
Karenhaugen prospects.

Tertiary's summer programme will also include metallurgical testwork on its
Rosendal tantalum project in Finland and efforts to trace the source of
zinc-rich boulders found on its Djuragruvan project in the Bergslagen district
of south-central Sweden.

The Karosjok review has included re-sampling of earlier drill core to verify
previous assay results which include a reported intersection of 15.2m
(approximate true width) grading 2.1g/t combined palladium and platinum
(Pd+Pt) within a 43m intersection grading 1.2 g/t Pd+Pt from a down hole depth
of 67m in hole PV1 at Porsvann. Re-sampling results should be available within
three weeks. The review has drawn together, for the first time, the results of
previous base and precious metal exploration in the Northern Karasjok
greenstone belt and unpublished NGU geological mapping and sampling. It has
highlighted the potential for significant strike extensions to the mineralised
pyroxenite at Porsvann and for the occurrence of PGM mineralisation within
other as yet untested rock types.

The prospective pyroxenite horizon at Porsvann has been mapped over a strike
length of more than 800m and it may extend further to the south beneath a
lake. Drilling to date has tested only 100m of strike immediately north of the
lake, but mineralisation remains open in all directions. A previously
unreported NGU grab sample contained 1.4g/t Pd+Pt in pyroxenite 150m north of
the most northerly drillhole whilst a sample of gabbro from Porsvann also
returned a value of 1.1g/t Pd+Pt. In the Karasjok belt, gabbro is closely
associated with pyroxenite in composite intrusions. The occurrence of PGM in
gabbro may prove significant, as previous exploration has identified a number
of untested Induced Polarisation (IP) geophysical anomalies within the more
extensive gabbros at Porsvann. Similar IP anomalies in the pyroxenite are
believed to be caused by PGM bearing disseminated sulphide mineralisation.

The aim of the field program is to define drill targets through a better
understanding of the controls on PGM mineralisation at Porsvann and
Karenhaugen and the evaluation and sampling of several other PGM prospective
intrusions within the Company's extensive exploration permits. It is being
carried out by SRK Consulting (Toronto) under the supervision of SRK geologist
Mike Michaud who was formerly Chief Geologist for North American Palladium's
Lac des Iles PGM mine in Ontario.

At the Company's Rosendal tantalum project in Finland a programme of
metallurgical testwork has commenced. This will evaluate processing options
for the extraction of tantalum and by-product feldspar and quartz from the 1.3
million tonne tantalum bearing pegmatite discovered by the Geological Survey
of Finland. The work will include mineralogical characterisation, gravity and
flotation testwork and is being carried out by Lakefield Research in Canada,
one of the World's premier metallurgical laboratories. Results should be
available in early September.

At Djuragruvan, in the Bergslagen district of south-central Sweden, the
Company has commenced a programme to locate the source of zinc-rich boulders
(18 boulders average 10.6% zinc, 3.9% lead and 0.3% copper in 3km long boulder
train) believed to have originated within the Company's exploration permits.

Tertiary has now collected a total of 304 geochemical samples from surface
till at Djuragruvan and analytical results are expected within three weeks.
Meanwhile, an orientation geophysical programme will start this week over
areas of known bedrock mineralisation in order to characterise its
'signature'. The geophysical testing will then be extended to any prospective
areas outlined by the till sampling with the objective of identifying a
similar geophysical signature. This would enable the Company to define targets
for follow-up drilling.

Further Information:

Patrick Cheetham, Executive Chairman, Tertiary Minerals. Tel: [phone]

Ron Marshman, City of London PR. Tel: [phone]