Molybdenum

[Lone Clone]

Tenajon Commences Exploration Drilling Ajax Molybdenum Project Northwestern BC
Thu Jul 5, 8:31 AM

http://ca.news.finance.yahoo.com/s/05072007/28/link-finance-news-tenajon-commences-exploration-drill...

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 5, 2007) - Tenajon Resources Corp (TSX VENTURE: TJS.V) (the "Company") is pleased to announce that drilling has commenced at its 100% owned Ajax Molybdenum Deposit located 16 km north of Kitsault, northwestern British Columbia.

The purpose of the initial 3,500 metre drill program is threefold:

1. Improving confidence in near surface high-grade mineralized zones within a potential starter pit that could host approximately 37 million tonnes of the deposit at a 2.33:1 stripping ratio;

2. Convert resources from the inferred to the measured and indicated category;

3. Test a proposal put forth by Dr. Nicholas Carter, P. Eng., one of Canada's foremost experts on porphyry molybdenum deposits, which suggests that the grade of the deposit may have been underreported due to the orientation of most of the drill holes completed during previous drilling campaigns.

Ajax is one of North America's largest undeveloped molybdenum deposits. At a 0.040% Mo cut-off the deposit hosts inferred resources of 448.8 million tonnes grading 0.063% Mo (623.4 million pounds) and an indicated mineral resource of 38.8 million tonnes averaging 0.064% Mo (56.4 million pounds). The estimate was prepared by Giroux Consultants Ltd., an independent consulting firm (released March 5, 2007). The current price of molybdenum is approximately US $32.125/lb.

Infrastructure is very good with both tidewater access and hydroelectric power situated at Kitsault. In addition, there are plans to construct a hydro line 5 km to the west of the deposit.

In Carter's study he states with regards to Ajax that "As currently defined, molybdenum grades of 0.05% and greater occur within a circular zone measuring 600 x 650 metres in diameter, extending from surface at an elevation of about 1050m to depths of greater than 1,000 metres as indicated by the 2006 drilling." He also states, "The previous work on the Ajax Property suggest an area of enhanced grade may be related to an east-northeast trending fault zone near the northern limits of the current molybdenum zone."

According to Carter this concept was originally proposed by Newmont geologist in 1966. Furthermore he concludes, "Most of the holes completed on the Ajax Property have been inclined holes drilled on west southwest orientations essentially parallel to zones thought to contain enhanced molybdenum grades. A review of the results to date suggests that intervals of better molybdenum grade are contained in holes drilled within 100 metres of the east northeast fault zone." This area occurs within the middle of the proposed starter pit. Some of the results from this area include:

 
 ---------------------------------------------------------------- 
              From          To         Int. 
 Hole           (m)         (m)         (m)     % MoS2     % Mo(i) 
 ---------------------------------------------------------------- 
 65-02        35.4       127.4        92.0       0.181      0.109 
 ---------------------------------------------------------------- 
 66-19           0        42.7        42.7       0.184      0.110 
 ---------------------------------------------------------------- 
 05-03           0        68.6        68.6       0.143      0.086 
 ---------------------------------------------------------------- 
 05-02           0       287.8       287.7       0.143      0.086 
 ---------------------------------------------------------------- 
 66-30         4.3        73.2        68.9       0.154      0.092 
 ---------------------------------------------------------------- 
 (i) Mo grades are 60% of MoS2 
 </PRE> 
  
 Dave Visagie, P. Geo., a Qualified Person as defined by NI 43-101, will supervise the Ajax exploration program. 
  
 On Behalf of the Board of Directors 
  
 TENAJON RESOURCES CORP. 
  
 D. Bruce McLeod, President 
  
 This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See the Company's filings for a more detailed discussion of factors that may impact expected results. 
  
 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. 
  
 Contacts 
  
 D. Bruce McLeod 
 Tenajon Resources Corp. 
 President 
 [phone] or Toll Free: 1-888-338-2200 
 [phone] (FAX) 
 Email: [e-mail] 
 Website: www.tenajon.com