• July 2006 -- Terrane acquires Placer Dome's share of the Berg JV
• September 2006 -- Terrane acquires Kennecott's share of JV to become 100% owner of the Berg Project
• May 2007 -- Initiated Environmental Baseline Study as well as Public and First Nations consultation programs
• May-October 2007 -- Completed 11,289 metres of diamond drilling in 29 core holes aiming to verify and expand the historic resource
• December 2007 -- Created new 3-D geological model; Completed preliminary metallurgical test-work
• April 2008 -- Announced First NI 43-101 Compliant Resource Estimate with contained metals of 2.5 Billion lbs Copper, 299 Million lbs Molybdenum, 25 Million ozs Silver

BERG MINERAL RESOURCE ESTIMATE ⁽¹⁾

At 0.30% Copper Equivalent Cutoff Grade

• Q2/Q3 2008 -- Stage 2 -- 10,000 metre Diamond Drilling program to upgrade and expand the Berg resource
• Q4 2008 -- Stage 2 Metallurgical Test-work including pilot plant and evaluating copper / molybdenum separation
  
  
  2007 Exploration and Development
  
  The Berg Deposit is a classic calc-alkaline porphyry deposit. Copper-molybdenum-silver mineralization is hosted in andesite and quartz diorite and forms a semi-continuous, 2000 metre long and 300 metre wide zone around a circular monzonite stock. Previous operators focused on two zones - South and Northeast.
  
  The 29 hole -- 11,289 metre core drilling program was designed to test for continuation of the historic resource laterally and at depth and to provide modern data for the NI 43-101 compliant resource estimate. The average hole depth for the 2007 drilling was 390 metres; approximately 220 metres deeper than the historic drill holes. All of the drill holes intersected long widths of copper and molybdenum porphyry-style mineralization. Some examples include Hole 146 from the Northeast Zone which intersected 509 metres of 0.25% Cu, 0.047% Mo, 4.7 g/t Ag and Hole 138 from the South Zone intersecting 124.1 metres of 0.41% Cu, 0.055% Mo (0.092% MoS2), 12.7 g/t Ag.
  
  Click here to view drill plan, sections and assay results
  
  The 2007 drilling program at Berg for the first time outlined thick panels of molybdenum-rich stockwork mineralization within the much broader porphyry-style zones. In the South Zone all five widely-spaced drill holes intersected the molybdenum-rich stockwork, defining a 50 to 120 horizontal metres wide zone localized at the monzonite-andesite contact over a vertical distance of 500 metres. In the Northeast Zone molybdenum-rich mineralization was again intersected in all 10 holes drilled in the vicinity of the monzonite-andesite contact. Here the molybdenum-rich zone has a horizontal width ranging from 100 metres to 140 metres and has been intersected over a vertical distance of 420 metres.
  
  

  BERG SOUTH ZONE
  MOLYBDENUM-RICH PANEL

  Drill Hole (BRG07-)	Interval (m)	Mo (%)	Cu (%)	CuEQ (%)
  138	139.3	0.055	0.38	0.97
  including	21.3	0.081	0.34	1.15
  142	82.3	0.032	0.55	0.87
  143	158.5	0.050	0.29	0.79
  including	33.6	0.068	0.31	0.98
  144	64.0	0.060	0.26	0.84
  including	24.4	0.097	0.23	1.16
  145	283.4	0.054	0.29	0.82
  including	33.5	0.085	0.32	1.14

  
  

  BERG NORTHEAST ZONE
  MOLYBDENUM-RICH PANEL

  Drill Hole (BRG07-)	Interval (m)	Mo (%)	Cu (%)	CuEQ (%)
  146	360.0	0.057	0.25	0.82
  including	90.9	0.085	0.30	1.12
  149	54.7	0.068	0.46	1.13
  including	22.9	0.084	0.30	1.13
  150	205.6	0.052	0.44	0.97
  including	38.1	0.062	0.30	0.95
  154-160		assays	pending

  
  *The copper equivalent (CuEQ%) calculation uses metal prices of US$1.50/lb copper, US$14/lb molybdenum, and US$7/oz silver and is based on in-situ metal content.
  
  While the drill holes were wide-spaced, the geometry of the molybdenum-rich panels and grade distribution within them offers a number of higher grade-lower tonnage development scenarios for the Berg Project.
  
  The Berg Project is ideally situated near infrastructure associated with the Huckleberry Mine and has the potential to be a significant producer of copper and molybdenum. Terrane Metals will continue to advance the project in 2008 with a NI 43-101 compliant resource estimate, investigate mine development scenarios, and continue developing and expanding the resource with diamond drilling. Terrane is committed to the highest level of environment stewardship and community consultation.