Tenajon Announces 75% Increase in Indicated Molybdenum Resources at Ajax Project

Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") today announced that
the incorporation of results from the 2007 drill program has significantly
increased the Mineral Resource estimate for the Ajax Molybdenum Deposit. Tenajon
Resources Corp. holds a 100% interest in the Ajax Molybdenum Deposit, located 14
km north of Alice Arm, B.C.


Key Point Summary (at a 0.04% molybdenum cut-off):

- Indicated Resources increase by 75.4% over the 2007 resource estimate

- 98.9 million pounds of molybdenum in Indicated Resources

- Inferred Resources increase by 4.2% over the 2007 resource estimate

- 649.8 million pounds of molybdenum in Inferred Resources

- Ajax deposit is still open for expansion laterally and at depth

- Molybdenum is trading at approximately US$33.00 per pound

The upgraded resource estimate was prepared by Giroux Consultants Ltd., an
independent consulting firm. Above a cut-off of 0.04% molybdenum ("Mo") Giroux
estimates that the Ajax Deposit contains an Inferred Resource of 483.1 million
tonnes grading 0.061% Mo, representing 649.8 million pounds of molybdenum, and
an Indicated Resource of 69.0 million tonnes grading 0.065% Mo representing 98.9
million pounds of molybdenum. With the current resource base, Ajax is one of the
largest undeveloped molybdenum deposits in North America and the deposit remains
open laterally and at depth.


The current resource incorporates the results of 48 drill holes totaling 15,359
metres, including 13 holes that were drilled by Tenajon in 2007. Of the 48 drill
holes, 22 were completed by Tenajon from 2005 through 2007, and 26 holes were
completed by previous operators. Prior to the incorporation of the 2007
drilling, Giroux had calculated the Ajax Deposit hosted an Inferred Mineral
Resource of 448.8 million tonnes averaging 0.063% Mo using a 0.04% cut-off and
representing 623.4 million pounds of molybdenum. Indicated resources were
calculated to be 38.8 million tonnes averaging 0.064% Mo representing 56.4
million pounds of molybdenum (see Tenajon Resources press release dated March 5,
2007 for details and disclosure).


Mineral Resource Estimate

The total contained metal at a 0.04% cut-off is 98.9 million pounds of
molybdenum in the Indicated category and 649.8 million pounds of molybdenum in
the Inferred category, representing a 75.4% and 4.2% increase over the previous
resource estimate, respectively. The following table summarizes the Mineral
Resource for the Ajax Deposit at various cut-off grades:




---------------------------------------------------------------------------
                       Inferred Resources               Indicated Resources
---------------------------------------------------------------------------
Cut-off                     Mo    Million                     Mo    Million
Grade (%)       Tonnes      (%)    lbs Mo         Tonnes      (%)    lbs Mo
---------------------------------------------------------------------------
0.04       483,120,000   0.061     649.80     69,000,000   0.065      98.90
---------------------------------------------------------------------------
0.05       421,950,000   0.064     595.50     57,670,000   0.068      86.50
---------------------------------------------------------------------------
0.06       260,260,000   0.069     396.00     41,220,000   0.074      67.30
---------------------------------------------------------------------------
0.07        85,990,000   0.079     149.80     19,940,000   0.084      36.90
---------------------------------------------------------------------------
0.08        32,040,000   0.088      62.20      9,090,000   0.095      19.00
---------------------------------------------------------------------------
0.09         9,270,000   0.100      20.40      5,300,000   0.104      12.10
---------------------------------------------------------------------------
0.10         4,410,000   0.106      10.30      1,930,000   0.118       5.00
---------------------------------------------------------------------------



The Resource Estimate was completed under the direction of Gary Giroux, P. Eng.,
an Independent Qualified Person as defined by National Instrument 43-101.


Tenajon is currently compiling all data related to the Ajax project and
formulating plans for 2008.


Mineral Resources for the Ajax Deposit were based on 48 holes totaling 15,359
metres in length, including 13 that were drilled in 2007. A 3-D model of the
zone was created using GEMS (R) software. This mineralized domain was largely
based on the historical interpretations by previous operator Newmont Mines,
resolved in the third dimension and incorporated the most recent drilling. The
resulting solid represents an approximately 0.05% Mo grade shell. Assays were
then composited for 12 metre intervals and statistical analysis and variography
completed for the mineralized domain. Ordinary kriging was then used to
interpolate the molybdenum grades into the block model, with individual blocks
50m x 50 m x 24 m high. Due to the density of the drilling as compared to the
size of the deposit, most of the Mineral Resource is classified as Inferred.


Mineral Resources that are not Mineral Reserves do not have demonstrated
economic viability. Mineral Resource estimates do not account for mineability,
selectivity, mining loss and dilution. Inferred Mineral Resources are normally
considered too speculative to have economic considerations applied to them that
would enable them to be categorized as mineral reserves. There is also no
certainty that these Inferred Mineral Resources will be converted to Measured
and Indicated categories through further drilling or into Mineral Reserves once
economic considerations are applied.


Dave Visagie, P. Geo., a Qualified Person as defined by NI 43-101 supervised the
Ajax exploration program.


On Behalf of the Board of Directors

TENAJON RESOURCES CORP.

D. Bruce McLeod, President

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press
release relative to markets about anticipated future events or results
constitute forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "seek", "anticipate",
"believe", "plan", "estimate", "expect" and "intend" and statements that an
event or result "may", "will", "should", "could" or "might" occur or be achieved
and other similar expressions. Forward-looking statements are subject to
business and economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those contained in the
forward-looking statements. Forward-looking statements are based on estimates
and opinions of management at the date the statements are made. The Company does
not undertake any obligation to update forward-looking statements even if
circumstances or management's estimates or opinions should change. Investors
should not place undue reliance on forward-looking statements.
Tenajon Resources Com Npv Class A (TSXV:TJS)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024