Vancouver, British Columbia: Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TRX: TSX-V), is pleased to announce that Wardrop Engineering Inc. ("Wardrop") has completed a NI 43-101 compliant Mineral Resource estimate for the Company's 100%-owned Berg Project, 84 km southwest of Houston, British Columbia, Canada.

Indicated Resources contain 2.5 billion lbs copper, 299 million lbs molybdenum and 25.4 million ozs silver. Inferred Resources contain 0.8 billion lbs copper, 122 million lbs molybdenum and 9.7 million ozs silver. The NI 43-101 Technical Report will be filed on SEDAR within 45 days.

"This resource estimate is an important milestone for the Berg Project. It is the first NI 43-101 compliant resource ever produced for this deposit" stated Rob Pease, President and CEO of Terrane Metals Corp. "We are encouraged by this initial study and will continue to advance the Berg deposit this year with a 10,000 metre core drilling program designed to expand the resource and investigate the higher-grade zones of molybdenum and silver discovered within the deposit."

The reported Mineral Resource estimate at a 0.30% copper equivalent cutoff grade is shown in Table I. Copper equivalent grades are calculated using four-year rolling average metal prices of US$2.43/lb Cu, US$27.43/lb Mo, US$10.23/oz Ag and take into account forecast metallurgical recoveries into separate copper and molybdenum concentrates.

TABLE I

BERG MINERAL RESOURCE ESTIMATE (1)
At 0.30% Copper Equivalent Cutoff Grade

Category	Tonnes (millions)	Cu (%)	Mo (%)	Ag (g/t)	Cu lbs (millions)	Mo lbs (millions)	Ag ozs (millions)
Indicated	372.5	0.31	0.036	2.1	2,524	299	25.4
Inferred	140.9	0.25	0.039	2.2	771	122	9.7

The reported Mineral Resource estimate incorporates results from a 29 hole -- 11,289 metre drilling program completed in 2007. The Project drill hole database contains assay results from 136 core holes totalling 29,553 metres of which Terrane obtained 38.2% of the drill hole assay data from the 2007 drilling program. The remaining assay data was collected between the years 1964 and 1980 from core drilling programs operated by Kennecott Canada and Placer Dome. As this assay data was collected prior to the implementation of NI 43-101 and modern quality assurance-quality control (QA/QC) protocols, a series of studies were conducted to validate the historic assay results, including; resampling of historic drill core, closest sample comparisons with 2007 drill holes, and database validation with historic assay records. Wardrop has reviewed the validation program conducted by Terrane and has determined that the historic assays are reliable and suitable for resource estimation.

The reported estimate is based on a 3-D geologic model where individual block grades were interpolated from 3-metre down-the-hole composites using an anisotropy model and ordinary kriging. High grade outliers were capped prior to compositing based on a statistical review of copper, molybdenum and silver assays. Block grades were then classified into the Indicated Mineral Resource category if the block was estimated using data from at least two drill holes. Inferred Mineral Resource blocks were estimated using data from only a single drill hole. Only blocks within 450 metres of the surface were included in the resource estimate.

Indicated and Inferred Mineral Resources over a range of copper equivalent cutoff grades are summarized in Table II.

TABLE II

BERG MINERAL RESOURCE ESTIMATES (1)
GRADE -- TONNAGE DISTRIBUTION

CuEQ Cutoff (%)	INDICATED	INFERRED
Tonnes (millions)	Cu (%)	Mo (%)	Cu lbs (millions)	Mo lbs (millions)	Tonnes (millions)	Cu (%)	Mo (%)	Cu lbs (millions)	Mo lbs (millions)
0.20	459.7	0.28	0.032	2,866	324	213.5	0.22	0.030	1,048	141
0.30	372.5	0.31	0.036	2,524	299	140.9	0.25	0.039	771	122
0.40	288.2	0.33	0.042	2,083	264	98.6	0.26	0.047	567	103
0.50	205.7	0.35	0.047	1,574	215	66.2	0.27	0.056	386	82

The 2007 drilling program outlined a zone of molybdenum-rich mineralization within wider and lower grade porphyry-style copper-molybdenum mineralization. This steeply-inclined molybdenum-rich core zone is adjacent to the Berg Stock and has been further subdivided into South, Northeast and West Zones (see Terrane News Releases dated January 14, 2008 and January 22, 2008). The core zone is up to 150 metres in horizontal width and has a strike length of over 2,000 metres. Molybdenum-rich mineralization is exposed at surface and has been drill-tested to a depth of 500 metres. Notable drill holes that intersected molybdenum-rich mineralization included: Hole 146 with 90.9 metres grading 0.085% Mo, Hole 154 with 46.8 metres of 0.102% Mo and Hole 156 with 422.2 metres of 0.063% Mo.

Geometry of the molybdenum-rich core zones and grade distribution within them offers a number of higher grade-lower tonnage development scenarios. Table III compares the Berg Indicated Mineral Resource estimate with other molybdenum deposits under development or in commercial production. The Mineral Resources are compared at a 0.030% Mo cutoff grade and are inclusive of Mineral Reserves where applicable.

Limited metallurgical testwork by Terrane and previous operators (Kennecott Canada and Placer Dome) demonstrated that silver reports to a copper concentrate in payable quantities. However, holes drilled prior to 1980 were not assayed for silver and as a result only 40% of the database contains silver assays. In view of limited silver analytical data, silver assays were conservatively capped at 20 g/t and any assay composites without a silver value were assigned a value of 0 g/t. This methodology returned an average grade of 2.1 g/t for the reported Indicated Mineral Resource. The grade increased to 3.4 g/t if assay composites without assigned silver values were excluded from the estimate.

Statistical analysis suggests that there are two styles or populations of silver mineralization at Berg. The first is widely-distributed, lower grade and associated with porphyry-style copper mineralization. The 29 hole -- 2007 drilling program returned a weighted uncut average value of 5.0 g/t and a median value of 3.0 g/t for the first population. The second population is structurally-controlled, higher grade, and was first noted in drill hole 162 that intersected 106.6 metres grading 65 g/t in an area that had seen limited drilling by previous operators. The 2008 drilling campaign will further investigate these high-grade structures to confirm the silver resource potential.

2008 WORK PROGRAM

Terrane will continue to advance the Berg Project in 2008 with a 10,000 metre core drilling program designed to expand on the existing resource and to investigate high-grade molybdenum and silver potential within the deposit. The two rig core drilling program will commence in June and is expected to take three months to complete. Terrane is pleased to announce that Britton Bros. Diamond Drilling Ltd. and Equity Engineering Ltd. have been contracted to conduct and manage the 2008 field program.

Mr. Tom Stubens, Senior Geologist, Wardrop Engineering Inc., who is a Qualified Person as defined by National Instrument 43-101, has reviewed and approved of the contents of this news release.

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. (GG: NYSE; G: TSX) owns a 58% equity interest in Terrane on a fully diluted basis.

TERRANE METALS CORP.

Signed "Robert Pease"

Robert Pease, P.Geo, FGAC
President and CEO

For Further information contact:
Ryan King, Investor Relations
(604) 681-9930 Phone

http://www.terranemetals.com

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