Terramin Resources Gets AU$1M Share Placement from Macquarie Bank

Adelaide, Jan 22, 2006 (ABN Newswire) - Macquarie Bank (ASX: MBL) has increased it holding in Terramin Resources (ASX: TZN) to 8.2% after a AU$1M share placement.

The emerging zinc resource announced on Friday that the big Australian had agreed to take a an addtional 1.82M Terramin shares at AU$0.55 each.

The placement price represents a slight premium to Terramin's average traded price of AU$0.54 over the past four days.

Terramin's Executive Chairman, Kevin Moriarty, said proceeds from the placement would be used to help the Company progress its first overseas acquisition and for working capital.

The placement takes the Bank's total holding in Terramin to over 5.8M shares.

The last placement made by Mac Bank was in June 2005 at an issue price of 25 cents.

About MACQUARIE BANK LIMITED

Macquarie Bank Limited operates in a range of investment banking, commercial banking and selected retail financial services markets both in Australia and overseas. The Company also has operations in South Africa, Brazil, Canada, the United States, China, Hong Kong, Japan, Korea, Singapore, Indonesia, Malaysia, the Philippines, Taiwan, Thailand, New Zealand, Austria, Germany, Ireland and the United Kingdom. It is a licensed trading bank under the Australian Banking Act 1959. The Company's activities are organized into six operating groups: Banking and Property Group, Equity Markets Group, Financial Services Group, Funds Management Group, Investment Banking Group, and Treasury and Commodities Group.

About TERRAMIN AUSTRALIA LIMITED

Terramin is a dedicated base metals company focused on early development of the Angas Zinc project and advanced exploration at Menninnie Dam zinc/lead and copper project.

Kevin Moriarty - Executive Chairman
Website Address: www.terramin.com.au