Close of Equity Swap Agreement

Tertiary Minerals plc

("the Company")

12 November 2013

CLOSE OF EQUITY SWAP AGREEMENT

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce that the equity swap agreement ("the Equity Swap Agreement") entered into by the Company and YA Global Master SPV, Ltd. ("YAGM") on 23 May 2013 has been closed by mutual consent.

In response to demand, YAGM has entered into a binding commitment to sell 10,833,328 ordinary shares of the 11,818,176 Swap Shares issued in connection with the Equity Swap Agreement to a financial institution. The commitment is expected to settle on 13 November 2013 after which the obligations of all parties under the Equity Swap Agreement shall be completed and YAGM will no longer hold any shares in the Company.

Patrick Cheetham said: "It is very pleasing to see a high level of demand for the Company's shares and to be able to bring forward the proceeds of the Equity Swap Agreement. We are grateful for the support and flexibility that YAGM has afforded to Tertiary Minerals over recent months and in particular to facilitate this transaction."

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Notes to Editors:

Tertiary Minerals plc (AIM - EPIC: 'TYM') is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and the strategically significant MB project in Nevada USA.