Terrane Metals Corp.
TSX VENTURE : TRX

Terrane Metals Corp.

April 04, 2007 12:19 ET

Terrane Metals Corp.: Phase II Drilling Expands DWBX Zone at Mt. Milligan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2007) - Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX VENTURE:TRX) is pleased to announce results from the Phase II - 9,300 m large diameter core drilling program at the Mt. Milligan gold-copper project, British Columbia. Assay results from 14 of the 23 hole phase II drill program have now been received. Several holes intersected mineralization in the DWBX Zone - a down-dropped and under-explored 100m to 200m thick extension to the main Mt. Milligan deposit - which had not been included in historic resource estimates. Phase II results will be incorporated into an updated grade block model, open pit resource estimate and mine plan that will be released in Q3 2007.

DWBX ZONE HIGHLIGHTS



HOLE THICKNESS (m) Cu (%) Au (g/t)
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06-967 158.4 0.33 0.23
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07-970 240.0 0.20 0.26
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07-971 284.5 0.20 0.27
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07-973 138.4 0.24 0.47
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07-974 132.0 0.30 0.50
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07-975 239.5 0.23 0.23
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07-976 170.0 0.30 0.41
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All holes were drilled to the east at inclinations of -70 degrees to -80 degrees. Holes 07-970, 07-971 and 07-975 intersected new mineralization outside the historic resource while Holes 06-967, 07-973, 07-974 and 07-976 targeted inferred and new mineralization at its margins. A drill hole plan and representative cross sections can be viewed at the Company's website (www.terranemetals.com).

DWBX ZONE EXPANDED AND OPEN

The DWBX Zone is a down-dropped block of the main Mt. Milligan deposit and sits outside the historic resource estimate. It had been tested by previous operators with 9 widely-spaced drill holes. Holes 06-966 through 07-976, 07-978 and 07-980 were collared on 80 metre centres to target this under-explored zone. Each of these holes intersected gold-copper mineralization outside of the historic resource limits. Drill holes 07-970, 07-971, and 07-975 returned continuously mineralized gold-copper intercepts of +240 m. This mineralized block now measures some 500m long, 200m to 250m wide and 100m to 200m thick. It will now be incorporated into a new Feasibility Study resource model and open pit mine plan. Detailed assay results for both the DWBX and WBX Zones are summarized in Table I.

To date, a total of 216,860 m in 955 diamond drill holes has defined a large, open pit-style gold-copper resource at Mt. Milligan. The recently completed Phase I and Phase II drilling programs will support a Feasibility Study which will be completed in Q4 2007. A key component of the Feasibility Study will be the completion of a revised and independent National Instrument 43-101-compliant resource estimate. This estimate will include new mineralization from both drill programs and will consider a number of new grade-tonnage development scenarios.

The Mt. Milligan drilling program and associated sampling and quality control protocols are directed and supervised by Darren O'Brien, P. Geo., Vice President - Exploration, Terrane Metals Corp. and a Qualified Person as defined under National Instrument 43-101. ALS Chemex, an ISO 9001:2000 accredited laboratory in North Vancouver, BC performs sample preparation and assaying for the Mt. Milligan project. Copper assays utilize aqua regia sample decomposition with analysis by inductively coupled plasma - atomic emission spectroscopy. Gold assays utilize a fire assay fusion sample decomposition of a 30 gram charge with analysis by Atomic Absorption spectrometry. In addition to an internal laboratory quality control program, Terrane maintains a quality assurance and quality control program through the systematic use of standards, blanks and duplicates.

ABOUT THE COMPANY

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.



TABLE I

PHASE II DRILL HOLE ASSAY SUMMARY

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From To Thickness Cu Au
Drill Hole Zone (m) (m) (m) (%) (g/t)
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06-966 WBX 112 210 98 0.05 0.57
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DWBX 248 408 160 0.24 0.26
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06-967 WBX 109 135 26 0.22 0.15
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DWBX 257 415 158 0.33 0.23
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06-968 WBX 65 129 64 0.18 0.27
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DWBX 284 414 130 0.22 0.16
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06-969 WBX 53 79 26 0.33 0.51
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DWBX 231 403 172 0.25 0.25
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DWBX 453 477 24 0.19 0.20
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07-970 WBX 96 180 84 0.27 0.19
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DWBX 292 532 240 0.20 0.26
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07-971 WBX 147 163 16 0.20 0.20
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DWBX 251 535 284 0.20 0.27
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07-972 WBX 20 62 42 0.21 0.40
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DWBX 204 286 82 0.27 0.40
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07-973 DWBX 139 161 22 0.13 0.38
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DWBX 263 401 138 0.24 0.47
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07-974 WBX 65 95 30 0.15 0.19
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DWBX 221 353 132 0.30 0.50
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07-975 WBX 250 274 24 0.19 0.33
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DWBX 296 535 239 0.23 0.23
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07-976 DWBX 193 363 170 0.30 0.41
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477 492 15 0.24 0.26
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07-977 WBX 102 178 76 0.21 0.28
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WBX 204 282 78 0.25 0.20
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07-978 WBX 80 124 44 0.18 0.33
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07-979 WBX 58 198 140 0.27 0.24
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WBX 218 264 46 0.26 0.25
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07-980 DWBX 235 322 87 0.21 0.25
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