Offer for subscription closes

Tertiary Minerals PLC
27 April 2005


April 27, 2005


                            www.tertiaryminerals.com

        DIAMOND SUBSIDIARY'S OFFER FOR SUBSCRIPTION CLOSES OVER-SUBSCRIBED


   • Subscriptions received for £450,335
   • Tertiary Retains 20,000,000 shares in Sunrise Diamonds plc
   • Further Fundraising Begins In Preparation For AIM Admission

Tertiary Minerals plc ('Tertiary') is pleased to announce that its subsidiary,
Sunrise Diamonds Plc ('Sunrise'), has successfully completed an offer for
subscription of up to 30,000,000 ordinary shares at 1p each ('the Offer'). The
Offer, which was heavily oversubscribed, also included an offer to existing
Tertiary shareholders whereby each Tertiary Shareholder (other than those
resident overseas) was offered 1 Ordinary Share in Sunrise for each 2 ordinary
shares held in Tertiary. Under the terms of the Offer the directors of Sunrise
also reserved the right to issue an additional 10,000,000 Ordinary Shares if the
Offer was over-subscribed.

Valid subscriptions had been received for 45,033,514 Ordinary Shares in Sunrise
when the offer closed at 3.00pm on 26 April 2005. As a result, the Offer,
designed as a seed corn opportunity for Tertiary shareholders, will have raised
between £300,000 and £400,000 before expenses depending on the extent to which
the Directors of Sunrise utilise the over-subscription facility. Funds raised
will be used for Sunrise's working capital and to meet the costs of the planned
admission of Sunrise to trading on AIM. Tertiary will retain 20,000,000 shares
in Sunrise. Shareholders will be informed of their allocations when share
certificates in Sunrise are sent out, by 5 May 2005.

As has previously been indicated, Sunrise plans to carry out further fundraising
following the close of the Offer and prior to admission of Sunrise's shares to
trading on AIM. Additional funds will be used for exploration of Sunrise's
Finnish diamond interests. Sunrise has appointed Ruegg & Co as Nominated Adviser
and W.H.Ireland will be its Broker.

Sunrise has acquired rights to all of Tertiary's diamond interests in Finland
including three kimberlites in the Kuusamo area of the Karelian Craton which
were drilled last year and 45 other untested targets in the same area of this
craton. The initial work programmes for these targets will include ground
magnetic surveys, till sampling and diamond drilling.

Further Information:

Patrick Cheetham, Tertiary Minerals Plc. Tel: [phone]. Mobile: [phone]
John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: [phone]
Laurie Beevers, W.H.Ireland, Tel: [phone]



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