McLeod Lake Indian Band and Terrane Metals Corp. in Negotiations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2008) - Chief Alec Chingee of the McLeod Lake Indian Band and Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX VENTURE:TRX) are pleased to announce they have commenced negotiations toward a socio-economic agreement regarding Terrane's Mt. Milligan Copper-Gold Project ("Project") in British Columbia, Canada.

The McLeod Lake Indian Band has been actively engaged with the British Columbia Environmental Assessment Office and the Company since the commencement of the Project. According to Chief Alec Chingee of McLeod Lake Indian Band, "So far we have found Terrane to be an extremely responsible corporate citizen, sensitive to the concerns and needs of aboriginal peoples. This Project offers substantial economic benefits for a region hard hit by a failing forest industry. Our prime responsibility is to ensure that sound environmental regulations are in place and followed so the Project area is protected for future generations. We look forward to working with Terrane to achieve a successful mining operation on our traditional territory so that our people and people within the region are able to secure socio-economic benefits."

President and CEO Rob Pease of Terrane Metals stated: "Last week Terrane announced the Mt. Milligan Feasibility Study Report which described the scope, design and economic viability of the Project. Terrane has designed a Project with a compact site foot print which allows for a responsible and safe operations and closure plan. Terrane looks forward to a mutually beneficial working relationship with the McLeod Lake Indian Band and is wholly committed to ensuring long term environmental stewardship and sustainable growth within the Project region."

ABOUT TERRANE METALS CORP.

Terrane Metals Corp. is an exploration and mine development company focused on the development of the Mt. Milligan copper-gold and Berg copper-molybdenum-silver projects in British Columbia, Canada. Goldcorp Inc. (TSX:G)(NYSE:GG) owns a 58% equity interest in Terrane on a fully diluted basis.

TERRANE METALS CORP.

Robert Pease, P.Geo, FGAC President and CEO

McLEOD LAKE INDIAN BAND

Alec Chingee, Chief