Proposed Fundraise and Capital Access Window

Following the encouraging results from the recent Phase 4 drilling at the Mushima North Project, Tertiary Minerals plc (AIM: TYM) announces its plan to advance the project further and its intention to undertake a fundraising through the issue of new Ordinary Shares of 0.01 pence each in the Company (the “Proposed Fundraise”).

The Proposed Fundraise is being arranged by SP Angel Corporate Finance LLP, the Company’s joint broker.

The result of the Proposed Fundraise will be announced in due course.

The Proposed Fundraise will be conditional upon shareholder approval at a General Meeting (“GM”) due to insufficient share authorities. A notice of GM will be included in a circular to shareholders to be published following completion of the Proposed Fundraise.

Use of Proceeds

The Proposed Fundraise is intended to provide funding for the advancement of the Company’s flagship Mushima North Project in Zambia, as well as general working capital.

Capital Access Window

Following the recent updates to the AIM Rules for Companies, the Company has elected to utilise the Capital Access Window in connection with the Proposed Fundraise.

The Capital Access Window provides AIM companies with a voluntary mechanism to implement a temporary pause in trading in its securities and the Company has elected to utilise this facility to provide pricing stability during the Proposed Fundraise.

Accordingly, trading in the Company’s Ordinary Shares will enter a Capital Access Window trading halt with effect from 7.30 a.m. today until a further announcement is made detailing the results of the Proposed Fundraise.