TRX

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

Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the
"Company") (TSX VENTURE:TRX), is pleased to announce that Terrane has closed its
previously announced bought-deal and non-brokered private placement unit
financings. A syndicate of underwriters, led by National Bank Financial Inc.,
and including Scotia Capital Inc., BMO Capital Markets and Sandfire Securities
Inc. (collectively the "Underwriters") purchased 63,637,000 Units (the "Units")
at a price of $1.10 per Unit. Goldcorp Inc. purchased 27,273,000 Units at the
same price. The aggregate gross proceeds total $100,001,000. Each Unit consists
of one common share and one-half common share purchase warrant. Each whole
warrant entitles the holder to purchase one additional common share of the
Company at a price of $1.50 until April 16, 2011.


Terrane intends to use the aggregate net proceeds from the financings to fund
the 2010 construction program at the Mt. Milligan Project and for working
capital purposes.


Terrane has also granted to the Underwriters an over-allotment option to
purchase an additional 9,545,550 Units at the same price, exercisable in whole
or in part, for a period of up to 30 days following the closing date.


About Terrane Metals Corp.

Terrane is an exploration and mine development company focused on the
development of the Mt. Milligan gold-copper project 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.

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" 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 the Company 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 the Mt. Milligan Project and other deposits; the intended use of
the net proceeds of the financings; 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 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.

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