Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the
"Company") (TSX VENTURE:TRX), is pleased to announce results of the Company's
Annual General Meeting held on December 9, 2009 in Vancouver, Canada and to
provide a corporate update.


Results of AGM

The Company is pleased to report that, in conjunction with the holding of its
AGM, Robert Pease and Edward Farrauto were elected to the Board of Directors
(the "Board") as executive officers, and Jeffrey Franzen, Douglas Leishman, The
Hon. John Reynolds, P.C., Timo Jauristo and Rohan Hazelton were elected to the
Board as independent directors. Shareholders also approved the continuation of
the Company's current rolling incentive stock option plan.


Immediately following the AGM, the Board met with appointments made for each of
its five standing committees and the re-appointment of the following Company
officers:




Jeffrey Franzen  Chairman
Robert Pease     President and Chief Executive Officer
Darren Morgans   Corporate Secretary
Edward Farrauto  Chief Financial Officer
Peter Marshall   Senior Vice President Project Development
Darren O'Brien   Vice President Exploration
Paul Hosford     Vice President Engineering
Glen Wonders     Vice President Corporate Affairs and Sustainability



Corporate Update

The Company had another active and successful year with work programs advancing
both the Mt. Milligan copper-gold development project and Berg
copper-molybdenum-silver exploration project. All employees worked safely and
management achieved targeted milestones and did so within the Company's core
framework of safety, environment-community-sustainability and
quality-budget-schedule.


A $22.1 million - 14 month Modified Project Execution Plan at Mt. Milligan
further de-risked the Project and with British Columbia EA approval on March 19,
2009 and Government of Canada EA approval on December 1, 2009, the Project is
now construction-ready, subject to financing and receipt of final permits and
approvals. An updated resource estimate and scoping-level development studies
were completed at Berg. These work programs were funded in the face of difficult
equity markets through a credit facility guaranteed by majority shareholder
Goldcorp and an issuance of flow-through common shares.


Robert Pease, President and CEO, Terrane stated: "I am very confident about the
future prospects of the Company. With completion of the 2009 Feasibility Update
Study and receipt of key environmental permits and approvals, we not only
achieved our goals and commitments but we improved upon them. At Mt. Milligan,
Terrane shareholder value is firmly underpinned by a six million ounce, low-cost
and construction-ready reserve and our absolute commitment to long term
environmental stewardship and sustainable development for the region. The
project will generate the opportunity for some 400 direct permanent jobs and
significant long-term economic benefits for the region."


Chuck Jeannes, President and CEO, Goldcorp Inc. stated: "Over the past year the
Terrane management team has continued to deliver value for stakeholders and
shareholders, alike. Mt. Milligan is an outstanding and construction-ready gold
project. Goldcorp continues to work closely with the Terrane Board of Directors
to make the commercial development of Mt. Milligan a reality."


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 60% equity interest in Terrane on a fully diluted
basis. In July 2008 Terrane and Goldcorp entered into an agreement which grants
Goldcorp an option to convert its equity interest in Terrane into a
participating joint venture interest in the Mt. Milligan Project (see press
release July 9, 2008).


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.