Mt Tobin Project Update

27 July 2020

Tertiary Minerals plc ("Tertiary" or "the Company")

Mt Tobin Project Update

Further to its announcement of 20 July 2020, Tertiary Minerals plc is pleased to provide the analytical results from preliminary reconnaissance sampling at the Company's Mt Tobin Silver Prospect in Nevada, USA.

Mt Tobin Silver Prospect

Ø Main target - large area of hydrothermal alteration 60m wide x 1,200m long with associated silver geochemical anomaly recorded by previous explorer.

Ø Preliminary rock samples taken from prospector's hand dug pits have returned silver values of up to 101 grammes/tonne (g/t) silver (3.12 ounces/ton) with several other samples returning between 15 and 91g/t silver.

Ø These and other anomalous results were returned over a 450m strike length sampled to date.

Ø Mineralisation is open to north and south, structurally controlled and spatially related to dyke intrusion.

Ø Further mapping, sampling and soil sampling is planned to better define the widths and strike extent of mineralisation in this poorly exposed area.

A plan showing the location and distribution of the reconnaissance sampling results is available on the Company's website at: https://www.tertiaryminerals.com/projects/other-projects/mt-tobin

Commenting today, Executive Chairman Patrick Cheetham said:

"These are very pleasing results from initial reconnaissance work at Mt Tobin and we look forward to increasing the pace of exploration on this and other precious metal projects in our Nevada portfolio this summer and autumn. It's an interesting time for silver with the silver price up 80% in the past 18 weeks and arguably showing more leverage than the gold price in the current market conditions."

For more information please contact:

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes:

1. The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.

2. The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Note to Editors:

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.