Issue of Equity

Tertiary Minerals PLC
27 April 2006


                             Tertiary Minerals plc

                            www.tertiaryminerals.com

                                 

                            Conversion of Loan Notes

Tertiary Minerals plc ('the Company') announces that A.H.Algosaibi & Bros. Co.
('Algosaibi'), a member of the Saudi consortium funding preliminary and bankable
feasibility studies for the development of the Company's world-class Ghurayyah
tantalum-niobium-uranium (zircon-yttrium) project in Saudi Arabia, has elected
to convert its entire holding of $US425,000 nominal of convertible loan notes
into ordinary shares in the Company.

Under the terms of the convertible loan notes, conversion will take place at 15p
per share. Accordingly, Algosaibi will be issued with 1,588,548 new ordinary
shares in the Company. Following conversion, Algosaibi's interest will increase
from 4.9% to 7.7% of the enlarged issued share capital of the Company.

Application will be made for the new ordinary shares to be admitted to trading
on AIM and dealings in these shares are expected to commence at 8.00 a.m. on 4
May 2006.

Further information please contact:
Patrick Cheetham, Tertiary Minerals plc. Tel: [phone].
Mob: [phone]

John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: [phone]






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