Terrane Metals Corp.
TSX VENTURE : TRX

Terrane Metals Corp.

March 14, 2007 15:55 ET

Terrane Announces 12,000 Metre Drilling Program on Berg Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX VENTURE:TRX) is pleased to provide an update on the Company's 100% owned Berg copper-molybdenum-silver project, central British Columbia.

HIGHLIGHTS

- A 12,000 metre core drilling program will commence in June 2007.

- Cyr Drilling International Ltd. has been contracted to conduct the two rig program.

- Equity Engineering Ltd. will manage field and technical work.

- A NI 43-101 compliant resource estimate will be completed in Q4 2007.

2007 WORK PROGRAM

Terrane Metals Corp. is pleased to announce that Cyr Drilling International Ltd. and Equity Engineering Ltd. have been contracted to complete a 12,000 metre core drilling program on the Company's 100% owned Berg copper-molybdenum-silver project. The two rig core drilling program will commence in June and is expected to take three months to complete.

Geological modeling by Terrane Metals indicates that the historic resource is open to expansion laterally and at depth. The 2007 program will focus on expanding the historic resource and confirming earlier work with large-diameter core drilling and quality assurance/quality control protocols. A new grade model and NI 43-101 compliant resource estimate will be completed in Q4 2007.

ABOUT BERG

The Berg porphyry copper-molybdenum-silver project is 84 km southwest of Houston, British Columbia and 22 km northwest of Imperial Metals Corp.'s Huckleberry copper-molybdenum-silver mine and is accessible by road. The Berg deposit was discovered by Kennco Explorations (Western) Ltd. in the 1960's with subsequent work after 1972 by Canex Placer Limited (Placer Dome Inc.). Historic drilling in 93 holes totaling 16,908 metres outlined a resource at a 0.25% Cu cut-off grade of 238 million tonnes grading 0.40% Cu, 0.052% MoS2 and 2.84 g/t Ag containing 2.1 billion pounds of copper and substantial resources of molybdenum and silver (see Terrane News Release dated September 13, 2006).



BERG PROJECT HISTORIC RESOURCE(i)
MEMPR MINFILE SUMMARY (CIM Special Volume 37, 1986)

Cu MoS2 Ag Contained Cu
Tonnes (%) (%) (g/t) (million lbs)
Geological Resource 238,000,000 0.40 0.052 2.84 2,099

(i)Resources for the Berg deposit are referenced in the Government of
British Columbia Ministry of Energy, Mines and Petroleum Resources MINFILE
Summary and in CIM Special Volume 37). These historic resource estimates
predate the implementation of NI 43-101 guidelines and are not compliant
with currently accepted reserve and resource classifications as set forth
by Canadian Institute of Mining and Metallurgy, Aug. 20, 2000
(CIM Guidelines). While the Berg historic resource estimates are considered
relevant, Terrane has neither independently verified them nor should
investors rely upon them. There is no economic evaluation that demonstrates
the potential economic viability of the stated resources therefore none of
the historic resources should be considered "reserves" under current CIM
Guidelines.


Documented copper-molybdenum intercepts at a 0.25% copper cutoff grade include: 0.57% Cu, 0.083% MoS2 over 193.5 m in drill hole BRG009 and 0.98% Cu and 0.096% MoS2 over 97.5 m in drill hole BRG117. A significant number of drill holes were stopped in similar copper-molybdenum mineralization.



BERG PROJECT
SELECTED HISTORIC DRILL INTERSECTIONS(i)

---------------------------------------------------
From To Thickness Cu MoS2
Drill Hole (m) (m) (m) (%) (%)
---------------------------------------------------

---------------------------------------------------
BRG009 36.6 230.1 193.5 0.57 0.083
---------------------------------------------------
BRG074 24.4 231.7 207.3 0.48 0.035
---------------------------------------------------
BRG117 24.4 121.9 97.5 0.98 0.096
---------------------------------------------------
S24 21.3 182.0 160.7 0.54 0.025
---------------------------------------------------
BRG023 30.5 189.0 158.5 0.52 0.042
---------------------------------------------------
BRG036 39.6 182.9 143.3 0.56 0.062
---------------------------------------------------
BRG123 9.1 150.9 141.8 0.57 0.042
---------------------------------------------------
(i)Historic copper and molybdenum drill intercepts are for total Cu and
MoS2 and were calculated using a 0.25% copper cut-off grade.


ABOUT TERRANE METALS CORP.

Terrane Metals Corp. is an exploration and mine development company focused on the development of the Mt. Milligan gold-copper and Berg copper-molybdenum-silver projects in British Columbia, Canada. Goldcorp Inc. (TSX:G)(NYSE:GG) owns a 70% equity interest in Terrane on a fully diluted basis.

TERRANE METALS CORP.

Robert Pease, P.Geo, FGAC, President and CEO

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements". Such forward-looking statements including but not limited to those with respect to the proposed use of proceeds anticipated to be raised by the financing involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Terrane to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Terrane Metals Corp.
    Ryan King
    Investor Relations
    (604) 681-9930 or Toll Free: 1-866-681-9930
    Website: www.terranemetals.com