New Kimberlite discoveries

Sunrise Diamonds PLC 01 August 2005 TWO NEW KIMBERLITES DISCOVERED AT START OF SUMMER DIAMOND SEARCH • First Two Holes Into Separate Targets Give Positive Results • Best Combined Magnetic/Kimberlite Indicator Mineral Targets Yet To Be Tested Sunrise Diamonds plc, ('Sunrise Diamonds' or 'the Company') is pleased to announce the discovery of two new kimberlite bodies at Anomalies 45 and 47 in its Kuusamo exploration area in northern Finland where the Company has just commenced its summer drilling campaign. Core samples will be sent for micro-diamond analysis. The discoveries were made in the first two drill holes into the first two magnetic anomalies selected for drilling by Sunrise Diamonds. Although the magnetic anomalies appear relatively small, the first drill hole, testing Anomaly 45, entered into kimberlite from bedrock surface to the end of the hole at 70m depth and the second hole, testing Anomaly 47 some 800m away, also hit kimberlite from bedrock surface to its current depth of 57m (drilling is continuing). At least one further hole will test to see if the two kimberlites form part of a more extensive kimberlite complex in this particular area. Geologically, the new discoveries have characteristics of Group 1 kimberlite and are similar in appearance to the Kalettomanpuro and Kattaisenvaara Group 1 kimberlites which the Company acquired from Tertiary Minerals plc. Welcoming the result as another very positive early development for the Company, Sunrise Chairman Mr. Patrick Cheetham said today 'Anomalies 45 and 47 were selected for drilling purely on magnetic characteristics, before the results of recently announced kimberlite indicator mineral ('KIM') sampling were complete. The best combined magnetic/KIM targets defined so far have yet to be tested.' ABOUT SUNRISE DIAMONDS Sunrise Diamonds plc is exploring for diamonds in the Karelian Craton in Finland - a geological block that is host to world-class diamondiferous kimberlites at Grib and Lomonosova in the Arkhangelsk region of neighbouring Russia. The Company was formed in 2005 to continue the diamond exploration activities of its parent, Tertiary Minerals plc. A pre-IPO fundraising was completed as an entitlement issue to the shareholders of Tertiary Minerals and was followed with a placing on AIM admission on 6 June 2005. In 2004 Tertiary Minerals discovered two new kimberlites in the Kuusamo district of northern Finland in what is now known as the Kuusamo kimberlite cluster. Work by the Geological Survey of Finland, on behalf of Tertiary, has indicated that these kimberlites sampled the diamond window and that diamondiferous kimberlites could exist in the cluster. Since admission to AIM on 6 June the Company has progressed quickly in its evaluation of its untested targets at Kuusamo and, to-date, KIMs have been found in six samples associated with five of the initial magnetic targets. Drilling will continue to progressively test priority targets defined by a combination of magnetic anomalies and kimberlite indicator minerals. Indicator mineral sampling and picking is continuing. Further Information: Patrick Cheetham, Sunrise Diamonds plc. Tel: +44 (0)1625-505947. Mobile: +44 (0) 7767-458751 John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518 This information is provided by RNS The company news service from the London Stock Exchange