Advanced Gold Project

RNS Number:5913R
Tertiary Minerals PLC
03 November 2003




                            www.tertiaryminerals.com

                                                                 3 November 2003

               TERTIARY WINS CLAIM TO GOLD DEPOSIT IN N. FINLAND

                     AFTER TWO YEARS OF PATIENT MONITORING


  * Several Zones Of Potentially High-Grade Gold Mineralisation

  * Previous Drill Intersects Include 2m Of 45g/t Gold And Several Holes Of 3m
    At 10+g/t

  * Company Plans Winter Drilling Campaign To Define Gold Resource

________________________________________________________________________________

AIM-listed Tertiary Minerals plc ("Tertiary" or "the Company") today announces
that it has been awarded a key claim over a series of gold deposits at
Kaaresselka in Northern Finland. The award follows more than two years'
monitoring of lapsing claims covering a number of potentially high grade
deposits in the district. Previous drilling of the area in which Tertiary has
its interest was carried out by the Geological Survey of Finland ("The Survey")
which put down 10,000m of diamond core drilling in 185 shallow holes. The
project area has well developed infrastructure and is accessed by a network of
logging roads.

Tertiary plans to start a drilling programme this winter to define resources. It
will benefit from the excellent platform of extensive exploration data already
collected by The Survey.

The Company has applied for six claims at Kaaresselka following their recent
lapsing with the key claim - containing most of the mineralisation - already
granted. Several parallel gold-mineralised structures are reported within an
open-ended area of 1.1 x 0.6km, one of which is at least 650m long. From its
drilling of two shallow, open ended 200m long zones, The Survey estimates a
volume of at least 160,000 cubic metres of mineralised material grading between
1 and 10g/t gold and between 0.2p.c. and 2p.c. copper to the maximum drilled
depth of 55m from surface. Mineralisation remains open at depth and along strike
into Tertiary's other five claim applications.

The Survey reported a best drill intersection of 2m grading 45g/t gold and
several drill intersections of 3m grading better than 10g/t gold. The gold
occurs as free gold, sometimes visible in drill core.

After the Kaaresselka gold deposits were discovered by the Geological Survey the
project was put up for sale by international tender by the Finnish Ministry of
Trade and Industry in June 2001.

Patrick Cheetham, Tertiary's executive chairman said today: "Although the tender
was never awarded, it is understood that the project was to be sold to Terra
Mining Oy, then operating a mine 15km away, but the sale was interrupted when
the company, together with its parent, went into bankruptcy.

"Previous drilling was hampered by the mineralised zones being deeply weathered
which made for poor core recovery and hindering a detailed resource estimate.
However, weathering is a bonus when it comes to mining as the rock is softer and
more easily extracted".

The explored area is just one part of the prospective Kaaresselka Shear Zone in
the 4.5km long project area on land owned by the Finnish Government and under
claim application by Tertiary. The Shear Zone itself is associated with the
Sirkka Break, a major geological feature associated with gold mineralisation in
Central Lappland.

Two projects previously tendered by the Finnish Government in this part of
Northern Finland, Pahtavaara (120,000 ounces gold produced to date - Scan Mining
AB) and Suurikuusikko

(2 million+ ounce gold resource - Riddarhytten Resources), have become
significant mining and development projects.

The Kaaresselka gold project is a welcome addition to Tertiary's diversified
portfolio. "Importantly it will provide our shareholders with a significant
exposure to the buoyant gold market", said Mr Cheetham.

Other projects where Tertiary plans drilling this winter include the Ahmavuoma
copper-gold project and the Nottrask nickel project, both in Sweden.



NOTE: A more detailed report on Kaaresselka, issued with the Finnish Ministry of
Trade and Industry tender invitation in June 2001 can be found on the following
website:

             www.gsf.fi/explor/tender/kaaresselka/kaaresselka.htm.



Further info: Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. 
                                Tel:  [phone]

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




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCUOVARORRARAA