Club officials had endeavoured to select two even teams for the competition.
Their selections proved right on the mark with the match going down to the penultimate ball before a winner could be found.
Batting first, Taieri Gold scored 110 runs in 30 overs with Shaedon Miller top scoring with 29.
Finn McDonald-Page claimed three wickets for Taieri Blue while Beckham Greenall and Xavier Wright picked up two wickets each.
In reply, Taieri Blue struggled early with the bat before Xavier Wright hit a quickfire 33 to put his side back in the match.
Sam O'Neill (13) and Daniel Thom (17) saw the Blues home with a ball to spare in a game which could have gone either way.
Alex Wilson was the best of the Gold bowlers with two wickets.
The players were all handed their premier tops and caps in a short presentation before the game.