Kolari Update

Tertiary Minerals PLC
03 January 2008


                              TERTIARY MINERALS PLC

                            www.tertiaryminerals.com

                                                                  3 January 2008

DRILL ASSAY RESULTS CONFIRM WIDE INTERVALS OF IRON MINERALISATION AT KOLARI IRON
                             ORE TARGET IN FINLAND

   • All Three Holes Confirm Potential For Near Surface Ore

   • Two Of Three Shallow Holes Start And End In Mineralisation
_________________________________________________________________________

Tertiary Minerals plc ('Tertiary' or 'the Company' - AIM: TYM) is pleased to
announce that assay results from initial sampling from its drilling programme in
the Kolari iron-ore district in northern Finland confirm that wide intervals of
magnetite iron mineralisation are present on the Kolari claims over a
significant strike length.

The drilling, on the Sivakkalehto target, comprised three 60 degree angled scout
holes at 200m intervals along the strike of the central part of a north-east
trending ground magnetic anomaly. The drill holes were between 101m and 126.5m
long.

Sampling of the drill core for analysis was initially carried out to confirm
visual estimation of magnetite content and some of the mineralised intervals
have not yet been sampled. The following table summarises assay results and
mineralised sections not yet assayed. Visual estimates correspond well with the
assay results received and allow the additional comments on iron mineralised
intervals and grade to be included in the accompanying table of results.

The 17-34% iron intervals reported in the table below represent magnetite
contents of approximately 25-50%. Normally, magnetite can be concentrated to a
saleable product grading 67% iron or more.

Tertiary's initial drill holes were shallow with only a single hole drilled on
each profile. Holes 07TS2 and 07TS3 both collared in bedrock mineralisation
(beneath a cover of overburden) and also ended in mineralisation. This suggests
that the mineralised units could be significantly wider than the intervals
penetrated by these holes. Hole 07TS1 also intersected a zone of weak copper
mineralisation and gold values in all three holes were generally low.

Based on these initial results the Company is now targeting a large body of
open-pittable magnetite mineralisation with magnetite content in the 30-50%
range. A similar such orebody - the Southdown Magnetite deposit in Western
Australia - is currently being developed by Grange Resources
(www.grangeresources.com.au) based on a resource of 400mt at 37% magnetite.

Tertiary's Chairman Patrick Cheetham commented: 'We are very pleased with these
results. They indicate the possible presence of a large body of iron
mineralisation at commercial grades.'

Further assaying of the core will now be undertaken and follow-up drilling is
being planned.


Further info:

Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: +44 (0)
1625-626203
Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]

Notes:
The information in this release has been compiled and reviewed by Mr. Patrick
Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM
Guidance Note for Mining Oil & Gas Companies issued on March 16, 2006. Mr
Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a
member of the Australasian Institute of Mining & Metallurgy.
The mineralisation intersected by the holes being reported is believed to be
sub-vertical and so the true thickness of mineralisation intersected by the 60
degree dipping drill holes will be approximately 50% of the down hole
intersected thickness that are reported.

Table of Drill Results - Kolari Iron Project

             Down Hole
            Intersection
Hole Number  From      To    Thickness  Iron  Copper Comment
               m       m         m       %      %

07TS1          0.00    22.70     22.70               Overburden
              31.40    58.60     27.20   17.5   0.12 Bedrock collared in
                                                     mineralisation
       inc.   51.35    56.50      5.15   24.6   0.19
              86.00   103.00     17.00      ?      ? Similar iron grade - not yet
                                                     assayed

07TS2          0.00    33.50     33.50               Overburden
              33.50    56.05     22.55      ?      ? Lower iron grade - not yet
                                                     assayed
              56.05   109.45     53.40   19.3   0.03
       inc.   72.15   109.45     37.30   22.4   0.03 Similar iron grade to end of
                                                     hole
             109.45   126.20     16.80      ?      ? - not yet assayed

07TS3          0.00    35.50     35.50               Overburden
              35.50    72.00     36.50   28.4   0.00
       inc.   38.25    47.00      8.75   34.0   0.00 Similar iron grade to end of
                                                     hole
              72.00   101.00     29.00      ?      ? - not yet assayed






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