Terrane Selects AMEC-Fluor to Build Mt. Milligan

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/14/10 -- Robert Pease, President and CEO of Terrane Metals Corp. ('Terrane' or the 'Company') (TSX VENTURE: TRX), is pleased to announce the signing of a letter of intent with AMEC Americas Limited ('AMEC') and Fluor Canada Ltd. ('Fluor') to provide engineering, procurement and construction management ('EPCM') services for its 100%-owned Mt. Milligan copper-gold project (the 'Project') 150 km northwest of Prince George, British Columbia. AMEC and Fluor will jointly provide the EPCM services to the Project through their British Columbia Mining Joint Venture ('BCMJV'). Key components of the Project include a 60,000 tpd copper flotation process plant, tailings storage facility, plant ancillary facilities, 92 km power transmission line and a 600-person construction camp. The first phase of a 30-month construction program is now underway (see press release dated June 3, 2010). Subject to final documentation, BCMJV personnel will be on-site by month-end.

Robert Pease, President and Chief Executive Officer of Terrane stated: 'Mt. Milligan's six million shovel-ready ounces and 22-year reserve base will make it one of Canada's largest new mines. With the selection of the BCMJV as our EPCM contractor we have secured the services of an outstanding British Columbia-based engineering design and construction management team. This team has earned global recognition, from mine builders and mine lenders alike, for their ability to deliver large-scale projects like Mt. Milligan on schedule and on budget.'

Vasee Navaratnam, Fluor's VP Operations Mining & Metals, North America, and Greg Oryall, AMEC's VP Business Development & Strategy, Mining & Metals, both project sponsors for the BCMJV stated: 'We are very pleased to be working with Terrane at Mt. Milligan. The BCMJV will allow us to leverage the design-delivery capabilities of the two largest British Columbia-based EPCM contractors and in doing so provide an unequalled pool of experienced people, services and local know-how to the Project. Our highly motivated team has a track record of successfully completing similar projects around the world. We particularly look forward to this important assignment in our home province of British Columbia.'

Mt. Milligan will be a conventional truck-shovel open pit mine with a 60,000 tpd copper flotation process plant. The first six years of the 22-year mine plan are designed to accelerate the extraction of near-surface and higher-grade gold reserves with production forecast to average 262,100 oz per year at a cash cost, net of a copper credit, of negative US$8 per oz (see press release October 13, 2009). Mt. Milligan will provide about 400 direct permanent jobs and significant long-term economic benefits for the region.

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.

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 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 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.

Contacts:

Terrane Metals Corp.

Darin Labrenz

(604) 681 9930
www.terranemetals.com