Terrane Announces Berg Flow-Through Private Placement

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


Terrane Metals Corp. ("Terrane") (TSX VENTURE:TRX) is pleased to announce that
it has arranged, subject to regulatory approval, a non-brokered private
placement of up to 10,000,000 flow-through shares at a price of $0.55 per share
for gross proceeds of $5,500,000. In connection with the private placement,
Terrane will pay a finder's fee of 3.5% of the gross proceeds raised in this
offering to Anthem Capital Group Inc.


Proceeds from the private placement will be used for further exploration of the
Berg copper-molybdenum-silver project in British Columbia, Canada where a
recently completed NI 43-101 compliant Mineral Resource estimate (see press
release dated April 30, 2008) outlined an Indicated Resource of 2.5 billion lbs
copper, 299 million lbs molybdenum and 25.4 million ozs silver and an Inferred
Resource of 0.8 billion lbs copper, 122 million lbs molybdenum and 9.7 million
ozs silver (see Table I for details on copper and molybdenum resources).




                                    TABLE I

                     BERG MINERAL RESOURCE ESTIMATES(1)
                       GRADE - TONNAGE DISTRIBUTION

----------------------------------------------------------------------------
                     INDICATED                        INFERRED
        -------------------------------------------------------------------
          Ton-                 Cu     Mo     Ton-                 Cu     Mo
CuEQ      nes                 lbs    lbs     nes                 lbs    lbs
Cutoff  (mill-   Cu     Mo  (mill- (mill-  (mill-   Cu     Mo  (mill- (mill-
(%)(2)   ions)   (%)    (%)  ions)  ions)   ions)   (%)    (%)  ions)  ions)
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------

Note:

(1) Mineral Resources are not Mineral Reserves and do not have demonstrated
    economic viability.
(2) Copper Equivalent grades (CuEQ %) 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.



The Berg 2008 exploration program will include a minimum 10,000 metres core
drilling program designed to expand the existing resource and to investigate
higher-grade molybdenum and silver zones within the deposit.


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

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 owns
approximately a 58% 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 in this news release (the "News Release") constitutes "forward-looking
statements" as such term is used in applicable Canadian laws. These statements
relate to analyses and other information that are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions of
management. In particular, statements concerning "Mineral Resource" and "Mineral
Reserve" estimates should be viewed as forward-looking statements to the extent
that they involve estimates of the mineralization that will be encountered if
the property is developed. Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always,
using words or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans, "estimates" or "intends", or
stating that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved) are not statements of historical fact
and should be viewed as "forward-looking statements".

Such forward looking statements, including but not limited to, those with
respect to the price of metals, the amount of estimated mineralization and of
contained metals and the timing of and possible outcome of pending economic
evaluations and other factors and events described in this News Release, involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Terrane to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such risks and other factors
include, among others, the actual results of exploration activities; variations
in the underlying assumptions associated with the estimation or realization of
Mineral Resources and Mineral Reserves, the conclusions of economic evaluations
and possible variations in ore grade or recovery rates; costs and timing of the
development of new deposits; availability of capital to fund programs and the
resulting dilution caused by the raising of capital through the sale of shares;
accidents, labour disputes and other risks of the mining industry including
without limitation those associated with the environment, delays in obtaining
governmental approvals, permits or financing or in the completion of development
or construction activities, title disputes or claims limitations on insurance
coverage. Although Terrane 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 Terrane 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.