Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

August 20, 2009 17:36 ET

Tenajon Shareholders Overwhelmingly Approve Business Combination with Creston

99.6% of Tenajon Shareholders Vote for the Creation of a Leading Moly Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2009) - Tenajon Resources Corp. ("Tenajon") (TSX VENTURE:TJS) is pleased to announce that at its Annual and Special Meeting of Shareholders held on this morning (the "Meeting"), Tenajon's shareholders voted overwhelmingly in favour of the previously announced business combination, by way of Plan of Arrangement (the "Arrangement") with Creston Moly Corp. ("Creston") (TSX VENTURE:CMS). Additional information concerning the Arrangement is provided in Tenajon's Notice of Meeting and Information Circular dated July 16, 2009, which is available on SEDAR under Tenajon's profile at www.sedar.com.

"Combined under the name "Creston Moly Corp.", Tenajon and Creston create a stronger moly company, consolidating a large resource base that provides excellent prospects for internal growth," said Bruce McLeod, President and CEO of Tenajon. "Management believes that the new company is well positioned to take advantage of a turnaround in the moly space and to be a leader in further sector consolidation."

At the Meeting, a special resolution approving the Arrangement (the "Arrangement Resolution") was passed by an affirmative vote of over the required two-thirds of the aggregate votes cast by Tenajon's shareholders present in person and by proxy at the Meeting. Specifically, 99.6% of the votes cast in respect of the Arrangement Resolution voted in favour of the Arrangement Resolution.

Subject to obtaining the approval of the Supreme Court of British Columbia, and satisfying certain other closing conditions, the Arrangement is expected to close on or around August 26, 2009.

On Behalf of the Board of Directors

TENAJON RESOURCES CORP.

D. Bruce McLeod, President & CEO

Forward-Looking Statements

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this document and Tenajon Resources Corp. (hereinafter referred to as the "Company") does not intend, and do not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect management of the Company's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements 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 the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's' interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. 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 forward-looking 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tenajon Resources Corp.
    Bruce McLeod, President, CEO, Director
    Corporate Information / Investor Contact
    (604) 687-7545 or 1-888-338-2200
    (604) 689-5041 (FAX)
    info@tenajon.com
    www.tenajon.com
    or
    Tenajon Resources Corp.
    Chris Curran
    Investor Contact
    (604) 331-2288