VANCOUVER,
BRITISH COLUMBIA--(Marketwire - March 9, 2010) - Robert Pease,
President and CEO of Terrane Metals Corp. ("Terrane" or the
"Company") (TSX VENTURE:TRX), is pleased to announce the appointment
of Mr. Basil Huxham, CA, as the Company's new Chief Financial Officer. Mr.
Huxham replaces Mr. Edward Farrauto who will continue to serve as a Director of
the Company.
Mr. Huxham has
over 25 years of public company experience in the pipeline-energy and mining
industries. He spent 16 years with Westcoast Energy and served as Corporate
Controller when it was acquired by Duke Energy. More recently he served as
Executive Vice President and Chief Financial Officer of New Gold Inc. and
predecessor company Peak Gold Ltd. Mr. Huxham is a member of the Institute of
Chartered Accountants of British Columbia.
Robert Pease,
President and CEO stated: "I am very pleased that Basil has joined Terrane
at this key time as we proceed with financing and construction at Mt.
Milligan. His extensive experience in project finance and control systems will
be a valuable addition to the Terrane management team. In addition, I would
like to thank Edward Farrauto for his outstanding contributions to the growth
of the Company over the past four years. Ed will continue to provide advice on
securities and related regulatory matters."
Subject to
regulatory approval, the Company has granted 600,000 stock options to an
officer of the Company. The options are at an exercise price of $1.13 per share
and valid for a period of five years from the date of grant.
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.
TERRANE
METALS CORP.
Signed "Robert Pease"
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.