Kaaresselka Drilling Results

Tertiary Minerals PLC
17 June 2004



                             TERTIARY MINERALS PLC
                                                                   17 June 2004


        TERTIARY REPORTS HIGH-GRADE DRILL INTERSECTIONS FROM KAARESSELKA

   • Results Includes 4.90m Grading 11.0g/t Gold And 2.75m Grading 13.5g/t
     Gold

   • Lampi Zone Enhanced By Intersection Of 10.30m Grading 3.9 G/t Gold From
     Bedrock Surface

Tertiary Minerals plc ('the Company') is pleased to report a number of
high-grade gold intersections following the receipt of final assay results from
its first drilling programme at the Kaaresselka gold project in Finland.

Previous drilling at Kaaresselka by the Geological Survey of Finland (GTK) was
reported to have intersected gold mineralisation in three separate zones -
Vanha, Tienvarsi and Lampi - within an area of 1.1km by 0.6km. Further
background details can be found in the Company's press release dated 3 November
2003 and in the 2003 Annual Report on the Company's website 
(www.tertiaryminerals.com).

The recent programme comprised 10 diamond drill holes designed to evaluate the
controls and distribution of gold mineralisation in the three target zones. The
results of the first 3 holes were reported in the quarterly exploration report
released on 6 April 2004.

This release covers the results from the remaining 7 holes where assay results
have been delayed as a result of bottlenecks at the independent assay laboratory
caused by the global upturn in exploration activity.

Significant assay results are given in the accompanying table and include some
of the best results from Kaarasselka to-date. A plan illustrating the location
of the drill holes will be made available on the Company's website.

Hole 04KD005 is located in the SE extension of the Tienvarsi zone and
intersected 2.75m grading 13.5 g/t gold from 15.45m depth demonstrating that
mineralisation is open in this direction.

Hole 04KD007B, located towards the western end of the Vanha zone, intersected
4.90m thickness grading 11.0 g/t gold from 74.80m down-hole and was drilled to
test at depth the gold mineralisation intersected by GTK drill holes RC5 (3m
grading 7.2g/t gold) and R436 (1.4m grading 22 g/t gold) towards the western end
of the Vanha zone. This result is important as it suggests the potential for a
high-grade depth extension to the near surface mineralisation at this location.

Hole 04KD009 and 010 were drilled across the Lampi zone. Previous drilling by
GTK had returned a best result of 11.55m grading 1.32 g/t gold from 24.50m, but
failed to explain a strong geochemical anomaly. Drilling in a different
direction, to test an alternative interpretation of the strike direction of
mineralisation, was rewarded with an intersection in hole 04KD010 of 10.3m
grading 3.88 g/t gold from bedrock surface at a depth of 3.9m beneath the
glacial till. (This intersection comprises three composite samples with
individual samples now being re-analysed). The geometry of this zone, which is
not yet understood, can be investigated by trenching.

Hole 04KD004 is located 100m along strike from previously reported hole 04KD002
and the NW end of the Tienvarsi zone. A narrow, low-grade intersection was
returned (see table below) indicating that gold mineralisation, albeit weak, is
open in this direction.

The results from the Company's first drilling programme at Kaaresselka are
considered to be encouraging as they confirm that gold mineralisation is spread
over a wide area, with a number of high-grade intersections having been returned
both from surface in the weathered zone and in the fresh rock. The results have
also significantly upgraded the Lampi zone as a target for further drilling.

The Company is now carrying out further core sampling and plans additional core
logging and a detailed location survey for all old drill holes. This will enable
the planning of follow up drilling programmes aimed at resource delineation.


DRILLING RESULTS           KAARESELKA    Winter/Spring 2004

Hole Number                      From            Drill Hole        Gold Grade
                     (down hole depth)         Intersection  (grammes per tonne
                                          (down hole width)        -g/t - gold)
TIENVARSI ZONE

04KD004                        56.05m                1.00m       1.00 g/t Au

04KD005                        15.45m                2.75m      13.46 g/t Au
Including                      16.10m                1.10m      29.20 g/t Au

VANHA ZONE

04KD007B                       69.40m                1.00m       2.64 g/t Au

And                            74.80m                4.90m      11.02 g/t Au
Including                      74.80m                1.10m      39.30 g/t Au

And                            94.20m                0.30m       1.07 g/t Au

LAMPI ZONE

04KD010                         3.90m               10.30m       3.88 g/t Au

And                            74.00m                0.70m       3.62 g/t Au

All reported assays made by independent laboratory ALS Chemex by method Au-AA26
(50g Fire Assay)



For further information please contact:

Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: [phone]
Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]



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