Terrane Metals Corp.
TSX VENTURE : TRX

Terrane Metals Corp.

September 27, 2010 09:00 ET

Terrane Receives Final Court Order for Transaction With Thompson Creek

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2010) - Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX VENTURE:TRX), is pleased to announce that the Supreme Court of British Columbia has issued a final order approving the plan of arrangement (the "Arrangement") involving Terrane and Thompson Creek Metals Company Inc. ("Thompson Creek"). The Arrangement provides for the acquisition of Terrane by Thompson Creek, and under the terms of the Arrangement, Terrane shareholders will receive C$0.90 in cash and 0.052 of a Thompson Creek share per Terrane share.

Completion of the Arrangement is subject to customary regulatory consents and other approvals. The completion of the Arrangement is expected to occur in early October 2010.

Further details regarding the Arrangement are set out in Terrane's Notice of Special Meeting and Management Information Circular dated August 23, 2010, which is available at www.sedar.com.

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 52.4% equity interest in Terrane on a fully diluted basis.

TERRANE METALS CORP.

Signed "Robert Pease"

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 in this News Release constitutes "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation (together referred to as "forward-looking statements"). These statements relate to the expected date of completion of the Arrangement. Such statements were based upon certain assumptions made by the Company with respect to the expected timeline for receipt of outstanding consents and approvals. The forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including any delays in the receipt of consents or approvals. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 contained in this News Release and in any document referred to in this News Release.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

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

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