Nottrask Nickel Discovery

     
BW20030807002009  20030807T103129Z UTC



( BW)(TERTIARY-MINERALS-PLC)(TYM) Nottrask Nickel Discovery

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--Aug. 7, 2003--

    NEW ZONE OF NICKEL-COPPER MINERALISATION DISCOVERED AT NOTTRASK IN SWEDEN

o       Scout Drill Hole Intersects two Separate Zones Of Nickel-Copper Mineralisation

o       Grades up to 1.2% Nickel + Copper over 2m

o       Target Zone Strike Length In Excess Of 4km.

--------------------------------------------------------------------------------
Tertiary Minerals plc ("Tertiary Minerals" or "the Company") is
pleased to announce a new discovery of nickel-copper mineralisation
within the Nottrask mafic intrusion in Sweden following the receipt of
assay results of semi-massive and disseminated sulphide mineralisation
from a single scout diamond drill-hole, 03N0001.

Significant nickel and copper values have been returned from the hole
with a best intersection of 2m grading 1.2% nickel + copper from a
depth of 84m down-hole (intersection width believed to approximate
true width). This intersection occurs within a broader interval of 10m
grading 0.5% nickel + copper. A second zone of mineralisation was
encountered towards the base of the hole with 10m grading 0.4% nickel
+ copper from 137.2m (hole ended 160.9m).

Significant assay results are as follows (all samples assaying greater
than 0.25% nickel + copper) :

---------  ---------  --------  ------------------  ------------  ----------  ------
Hole No.   From (m)    To (m)      Intersection       Ni + Cu          Ni       Cu
                                    Width (m)            %             %         %
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
03N0001       78.00     82.00   4m (composite)         0.35            0.19    0.16
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              82.00     83.00   1m                     0.25            0.09    0.16
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              83.00     84.00   1m                     0.40            0.11    0.29
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              84.00     85.00   1m                     1.20            0.73    0.47
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              85.00     86.00   1m                     1.14            0.90    0.24
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              86.00     87.00   1m                     0.27            0.11    0.16
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              87.00     88.00   1m                     0.42            0.26    0.16
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------

---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
              96.20     96.70   0.5m                   0.53            0.41    0.12
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------

---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
             120.60    121.80   1.2m                   0.27            0.16    0.11
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------

---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
             137.20    140.80   3.6m (composite)       0.42            0.31    0.11
---------  ---------  --------  ------------------  ------------  ----------  ------
---------  ---------  --------  ------------------  ------------  ----------  ------
             140.80    144.80   4m                     0.42            0.30    0.12
                                (composite)
---------  ---------  --------  ------------------  ------------  ----------  ------

Mineralisation is hosted in a ferrogabbro unit some 2-300m above the
base of the 5km diameter funnel-shaped Nottrask mafic intrusion.
Mineralisation has characteristics of conventional intrusive hosted
magmatic-segregation type nickel-copper sulphide deposits and the
ground geophysical anomaly (a MaxMin electromagnetic ("EM") anomaly)
associated with the mineralisation can be traced within the
ferrogabbro unit for at least 4km. Thickness and grades of nickel
mineralisation in any deposit can vary quickly along strike and/or at
depth and so the potential for the discovery of economic nickel
mineralisation within this anomaly is now considerably enhanced.

The drilled target was identified through a compilation of previous
geophysical and geobotanical exploration carried out by LKAB and
various academics in the 1970's and by Rio Tinto in the 1990's.

Nickel mineralisation was first discovered in the 1970's near the
southern margin of the Nottrask gabbro during road construction. This
occurrence (the "Lower Zone") was drilled by LKAB Exploration but
found to be structurally controlled and of limited extent. A
contemporaneous geophysical survey carried out by students over the
base of the intrusion identified a EM anomaly of limited extent
associated with the Lower Zone but also a more continuous anomaly some
300m to the north (the "Upper Zone") and a coincident geobotanical
nickel anomaly.

In the 1990s Rio Tinto targeted the troctolitic Nottrask gabbro for
Voisey Bay style nickel mineralisation and carried out a programme of
500m spaced MaxMin EM traverses over the southern portion of the
gabbro and two long Induced Polarisation ("IP") and Time Domain EM
("TEM") traverses over the southern margin and central part of the
intrusion. The MaxMin EM survey defined semi-continuous moderate EM
anomalies coincident with the 1970's Upper Zone anomaly. On the one
MaxMin traverse line also covered with TEM and IP (IP Line 1 on the
Map) the Upper Zone showed very strong TEM and IP anomalism.

The scout hole was located to test the Upper Zone anomalies on IP Line
1 where 1970's Slingram and 1990's MaxMin, IP and TEM anomalies were
coincident and spatially well defined such that the Upper Zone could
be cost-effectively tested with one relatively short drill hole. It
has not necessarily tested the most prospective part of the 4km long
Upper Zone and exploration is now warranted along the full strike
length of the Upper Zone" to define further drill targets.

Other targets have been identified elsewhere within the Nottrask
gabbro for nickel-copper and platinum group metals and the intrusion
also remains conceptually prospective for Voisey Bay style
mineralisation at depth and in satellite feeder intrusions. The
project is held 100% by Tertiary Minerals plc

A map illustrating the features referred to in this release will
shortly be available on the Company's website www.tertiaryminerals.com

Further Information:

Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: [phone]
John Greenhalgh, City of London PR. Tel: [phone]


N.B For reported assays, sample preparation was carried out by
independent contractors CL Prospectering and SGS laboratories in
Sweden. Core was cut in half using a diamond saw. Half the core was
pulverised to 90%