Drilling Report

Tertiary Minerals PLC
10 March 2005





                             TERTIARY MINERALS PLC


                  SECOND PHASE DRILLING AT KAARESSELKA EXTENDS
                                        
                    HIGHER GRADE GOLD MINERALISATION AT DEPTH
                                        
                                        
   • Best Intersection Of 20.1g/t Gold Over 1.75m Within 8.25m Section Of
     4.9g/t

   • Gold mineralization Considered To Be Open Laterally And In Depth

   • Drilling In Progress At Pitkajarvi , Geophysics Completed At
     Nottrask

Tertiary Minerals plc ('Tertiary' or 'the Company') is pleased to report the
results of a second phase of drilling at its Kaaresselka gold project in
Northern Finland.

The program, carried out between November 2004 and January 2005, was designed to
test the depth extent of high-grade gold mineralisation in the Vanha lode, the
south-eastern extension of the Tienvarsi lode and high-grade near-surface
mineralisation at Lampi. Five holes were drilled for a total of 750m and a small
programme of trenching was carried out at Lampi.

Vanha

Previous drilling at Vanha intersected gold mineralisation at relatively shallow
depths (e.g. 4.9m grading 11.0 g/t gold in hole 04KD007B and 8.2m grading 6.1 g/
t gold in hole R412)

Four additional holes (04KD011, 04KD012, 04KD013 and 05KD002) were completed at
an average 50m spacing to test for mineralisation at a vertical depth of
100-150m. All holes intersected gold mineralization and significant
intersections are summarised in the accompanying table.

The higher-grade mineralization is narrow, but the results confirm that the
mineralization at Vanha is continuing, and remains open at depth over a
strike-length of at least 200m. It is open both to the east and west. A
longitudinal projection illustrating drill intersections will shortly be
available on the Company's website.
(http://www.tertiaryminerals.com/projects-europe.htm).

The structure hosting the mineralisation at Vanha is at least 600m long and up
to 60m wide.

Tienvarsi

One hole, 05KD001, was drilled to test the eastern extension of the Tienvarsi
zone, some 165m from its known limits. A narrow interval of gold mineralization
was found in a weathered breccia on the south side of the Tienvarsi magnetic
lineament.

HOLE NUMBER      DOWN      HOLE     INTERSECTED THICKNESS(m)       GOLD GRADE
              FROM (m)   TO (m)                               (grammes/tonne)

VANHA

04KD011         163.40   166.10                        2.70                3.8
inc.            165.10   166.10                        1.00                8.9

04KD012         113.60   114.35                        0.75                3.3

04KD013         130.00   138.25                        8.25                4.9
inc.            136.50   138.25                        1.75               20.1

05KD002         114.60   114.90                        0.30                8.4

And             128.95   129.65                        0.70               18.3

And             152.55   158.75                        6.20                3.2
inc.            152.55   154.75                        2.20                7.2

And             162.10   163.00                        0.90                7.5

TIENVARSI

05KD001          36.75    37.90                        1.15                2.6



KAARESELKA DRILL SUMMARY - MARCH 2005

N.B. True widths estimated at approximately 50% of reported intersected widths.

Lampi

Trenching at Lampi targeted mineralisation in hole 04KD010 (10.3m grading 3.88g/
t gold from bedrock surface beneath the glacial till). Gold mineralisation was
found to be associated with a localised breccia with no significant strike
length. Consequently, no follow-up drilling was carried out at Lampi.

The variability in grade and thickness at Kaaresselka is typical of
structurally hosted gold mineralization where an understanding of the controls
of mineralization is critical to the success of exploration. Further evaluation
of the results is now in progress. The Company is, however, encouraged by the
results obtained to-date, and by the widespread distribution of gold over an
area of 1.1km by 0.6km at KaaresselkTM?.

Elsewhere in Finland, Tertiary is currently drilling at its PitkTM?jTM?rvi gold
prospect in central Finland trying to discover the source of surface boulders
containing gold and copper-cobalt mineralization. The programme will be
completed in two weeks time and results are expected by mid April.

The Company has, this week, also completed an extensive programme of ground
geophysics at its NottrTM?sk project in Sweden to identify drill targets for
nickel-copper and platinum group metals. Results are being interpreted, and will
be announced shortly.

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



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