Issue of Equity

Sunrise Diamonds PLC
20 February 2006




                            www.sunrisediamonds.com

                                                            20 February 2006



SUNRISE DIAMONDS RAISES £400,000 TO FUND DRILLING AND EXPLORATION PROGRAMME AT 
FINLAND DIAMOND PROJECT

Sunrise Diamonds plc is pleased to announce that it has raised £400,000, before
 expenses, via a placing of 17,777,778 new ordinary shares of 0.1p each 
('Placing Shares') at 2.25p per share (the 'Placing').

The net proceeds of the Placing will be used to follow up the results from the 
initial exploration programme in 2005 at the Kuusamo diamond project in Finland
(where micro-diamonds were recovered from two kimberlite bodies), to continue 
the generation of new targets elsewhere in Finland following the acquisition at 
the end of 2005 of BHP Billiton's Finland diamond exploration database, and for 
general working capital purposes.

The placees will receive warrants entitling the holder to subscribe for one new 
ordinary share at a price of 3.5p per share at any time within 2 years from the 
date of admission to trading on AIM ('Placing Warrant') on the basis of one 
Placing Warrant for each Placing Share.

The Placing is subject to admission of the Placing Shares to trading on AIM, 
which is expected to take place on 24 February 2006. The Placing Shares will 
rank pari passu with the existing ordinary shares in issue and increase the 
number of ordinary shares in issue to 93,152,778.

As part of the Placing, Tertiary Minerals plc has subscribed for 2,900,000 
Ordinary Shares, increasing Tertiary's holding to 22,900,000 ordinary shares, 
representing 24.58 per cent of the Company's enlarged issued ordinary share 
capital.

Following the Placing, Starvest plc is now interested in 13,333,333 ordinary 
shares representing 14.31 per cent of the Company's enlarged issued ordinary 
share capital.


Further Info: Patrick Cheetham, Sunrise Diamonds plc. Tel: [phone].
Mob: [phone]

John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518





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