Statement re Suspension

Tertiary Minerals PLC
09 July 2007



                           www.tertiaryminerals.com

                                                                     9 July 2007

                TERTIARY LIFTS SHARE SUSPENSION AND PROVIDES

                   UPDATE ON GHURAYYAH LICENCE PROGRESS


   • New Exploration Licence Application Being Processed in Saudi Arabia

   • JV Agreement Amended To Accelerate Saudi Partners' Financial
     Contributions

   • Niobium Now Major Metal Of Value After Threefold Price Rise Since
     Suspension

   • New Local Joint Venture Operating Vehicle To Be Set Up

Tertiary Minerals plc ('Tertiary' or 'the Company') is pleased to announce the
immediate lifting of the voluntary suspension of its shares from trading on AIM
and provide an update on its Ghurayyah tantalum-niobium project in Saudi Arabia
in respect of issues relating to the renewal of its exploration licence.

The Company has agreed a course of action with its Saudi joint venture partners
and with the Deputy Ministry for Mineral Resources in Saudi Arabia ('DMMR', the
administrative authority overseeing mineral licences in Saudi Arabia) which the
Company now expects will result in the issue of a new exploration licence over
the Ghurayyah tantalum and niobium deposit in NW Saudi Arabia and ultimately in
the issue of a mining licence.

Tertiary has applied, together with its two Saudi joint venture partners, and on
the recommendation of the DMMR, for a new 5-year renewable exploration licence
for a 47 km2 area covering the Ghurayyah deposit and the surrounding area. This
licence application is in the joint names of: Tertiary (Middle East) Ltd - a
wholly-owned subsidiary of the Company (50%); AH Algosaibi Bros Co (25%); Al
Nahla Trading & Contracting Co (25%). The Mining Code provides that the holder
of an exploration licence is entitled to apply for a mining licence over any
commercially exploitable deposit.

The application is being processed by the DMMR, but the licence has not yet been
issued. The licence application covers tantalum and niobium, the main metals of
economic interest at Ghurayyah, and associated non-radioactive minerals. It does
not include uranium as the Saudi Government does not wish to license that
material for production at the present time. The Company's previous economic
evaluations of the deposit have considered revenue from tantalum, niobium and
zircon only.

The Company believes that the new Ghurayyah exploration licence will be issued
in due course, although the terms and conditions it may contain relating to the
processing of radioactive minerals are as yet unclear.

In order to strengthen the relationship between the Company and its investment
partners the existing joint venture agreement between Tertiary and its Saudi
partners has also been amended by a Deed of Variation which speeds up the
remaining US$5m funding of the current feasibility studies at Ghurayyah. The two
Saudi joint venture partners will accelerate their future earn-in contributions
to the project and, together with Tertiary, form a local (Saudi) joint venture
operating vehicle.

The Deed of Variation recognises that, notwithstanding the registered interests
in any new licences when granted, the beneficial interests in such licences will
be held from time to time according to the terms of the Joint Venture Agreement
- Currently the Company holds the 100% beneficial interest until such time as
the future earning obligations of the partners are met in full.

'Work on the project feasibility studies, outside of Saudi Arabia, has continued
steadily throughout the suspension period and we hope to issue a progress report
shortly. Whilst the suspension has been a period of unwelcome uncertainty for
shareholders, I am pleased that our licence application is being progressed and
that we have advanced the relationship with our Saudi joint venture partners.'
comments Company Chairman Patrick Cheetham.

Tantalum/Niobium Markets/Prices
In previous economic evaluations at Ghurayyah, tantalum and niobium revenues
have been approximately equal. However, niobium is currently the main metal of
value as its trading price has increased more than three-fold in the past six
months. Tantalum prices are also starting to increase after a period of
consolidation.

Background
Ghurayyah Project
The Ghurayyah deposit is located in the north west part of Saudi Arabia near the
city of Tabuk. It is some 50km from the Red Sea coast and is accessible by
vehicle, being approximately 15km from a major highway.

Ghurayyah is a world-class deposit containing valuable tantalum, niobium,
zirconium and yttrium with a last estimated Inferred Mineral Resource of nearly
400 million tonnes grading 245 grammes/tonne (0.024%) tantalum pentoxide
(Ta2O5), 2,840 grammes/tonne (0.28%) niobium pentoxide (Nb2O5), 8,915 grammes/
tonne (0.89%) zirconium oxide (ZrO2), and 1,270 grammes/tonne (0.13%) yttrium
oxide (Y2O3).

Tantalum is used in capacitors in the electronics industry and niobium in
stainless steel alloys. Zircon and Yttrium are used in the ceramics and
electronics industries.

The deposit is a circular plug of granite nearly 1 kilometre wide that is
uniformly mineralised throughout. It outcrops in five hills above the
surrounding dried up river bed and continues to an average depth of 250m below
surface. Mineralisation is open to expansion at depth.

A detailed economic and technical scoping study suggests the deposit has
commercial potential as a future source of supply of tantalum, niobium and other
non-radioactive raw materials and at an extraction rate of 1.5 million tonnes/
year would have a mine life of over 200 years. A preliminary feasibility study
is in progress.

Details of the markets for the metals of interest at Ghurayyah are given in the
Company's 2006 Annual Report which can be found at http://
www.tertiaryminerals.com/reports.htm

Suspension
The Company's original exploration licence at Ghurayyah was granted in January
2002 for an initial term of five years renewable for a further period of up to 4
years. This licence covered tantalum, niobium, zircon, uranium, tin, rare-earths
and associated minerals.

The original Ghurayyah Exploration Licence was granted under the then current
mining code (law) ('the Old Code') which was replaced in January 2005 with a new
updated mining code ('the New Code') which recognised and contains transitional
provisions relating to licences granted under the Old Code.

In December 2006 the Company applied for a renewal of its exploration licence
under the terms of its issue under the Old Code and the transitional provisions
of the New Code. In December 2006 it also applied for a new Mining Licence under
the New Code.

The decision to voluntarily suspend the Company's shares in January this year
was made immediately following notification from DMMR that the Company's
applications for a renewal of its Exploration Licence and for a Mining Lease
over the Ghurayyah deposit in Saudi Arabia have been rejected due to alleged
non-compliance with the technicalities of the conditions of application and
renewal.

The Company believed and continues to believe, that it has fulfilled its
obligations under the terms of its Exploration Licence and that it was entitled
to a renewal under its terms of issue and that the licence also grants the right
to obtain a Mining Lease. However, following discussions with its Saudi
investment partners the Company elected to seek a mutually acceptable solution
with DMMR to retain its interest in Ghurayyah. Consequently, and acting on
recommendations from DMMR, the Company and its investment partners submitted the
joint application referred to above in February 2007 with supplementary
submissions being made since then.

For further information:

Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. 
Tel: [phone]
Ron Marshman/John Greenhalgh, City of London PR Limited. 
Tel: + 44(0) 20-7628-5518
Jonathan Wright, Seymour Pierce Limited. 
Tel: [phone]




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