Tenke Mining Corp.

Tenke Mining Corp.

January 10, 2005 12:34 ET

Tenke Mobilizes Drill Crew to Josemaria Copper/Gold Porphyry Discovery in Argentina


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TENKE MINING CORP.

TSX SYMBOL: TNK

JANUARY 10, 2005 - 12:34 ET

Tenke Mobilizes Drill Crew to Josemaria Copper/Gold
Porphyry Discovery in Argentina

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2005) - Tenke
Mining Corp. (the "Company") (TSX:TNK) is pleased to announce the start
of the 2005 exploration drilling season at the Company's Andean
copper/gold projects in northwest San Juan Province in Argentina. The
first program underway will be at the Josemaria project, a significant
new copper/gold discovery made during the previous field season. Drill
and geophysical crew and equipment are currently being mobilized.

The work program will comprise further geochemical and geophysical
testing followed by approximately 4,900 metres of RC drilling ( 14
holes) and 2,100 metres of diamond drilling (5 holes) utilizing two
rigs. The drilling will test expansion of the Josemaria discovery zone
as well as new targets with a portion of the diamond drilling allocated
to twinning previous RC holes from last season. RC drilling is expected
to commence in mid- January. DDH drilling will start in February.

Work to date has outlined a sizeable porphyry system at the Josemaria
project area. The 2004 drilling program was highly successful with 9 out
of 10 holes returning significant copper/gold mineralization.
Mineralization is open at depth and to the south and east.



Highlights from 2004 Drilling Program:

----------------------------------------------------------------------
HOLE Location Location Azi- INTER- Au Cu
# X Y muth Angle DEPTH VAL FROM TO (g/t) (%)
----------------------------------------------------------------------

----------------------------------------------------------------------
JMRC_01
----------------------------------------------------------------------
2446192 6855292 90 -65 370 370 0 370 0.422 0.481%
----------------------------------------------------------------------
Including 280 32 312 0.505 0.607%
----------------------------------------------------------------------
Including 242 64 306 0.475 0.614%
----------------------------------------------------------------------

----------------------------------------------------------------------
JMRC_02
----------------------------------------------------------------------
2446503 6855329 270 -70 370 370 0 370 0.393 0.402%
----------------------------------------------------------------------
Including 228 58 286 0.473 0.501%
----------------------------------------------------------------------
Including 92 108 200 0.616 0.550%
----------------------------------------------------------------------
Including 10 160 170 2.240 0.621%
----------------------------------------------------------------------

----------------------------------------------------------------------
JMRC _ 10
----------------------------------------------------------------------
2446199 6855116 90 -70 350 350 0 350 0.579 0.552%
----------------------------------------------------------------------
Including 118 72 190 0.71 0.874%
----------------------------------------------------------------------
Including 58 72 130 0.849 0.967%
----------------------------------------------------------------------


Geochem results from a talus sampling program in November/December, 2004
show a new, large copper/gold anomaly 1.5 kilometres south of the
Josemaria target zone, greatly expanding the known porphyry system, with
potential expansion onto the adjacent Batidero property. IP survey
results correlate with the geochem results favourably at this Southern
Target zone. Trenching and detailed surface mapping of andesitic-dacitic
porphyry suboutcrops indicate rocks of similar composition and
alteration as those mapped at the Josemaria target to the north. Along
fractured flanks of the Southern Target outcrops, several zones of
similar porphyries and the host andesitic sequence show intense copper
oxides in an almost identical arrangement to that of Josemaria to the
north.

The upcoming drill program will further define the Josemaria Target zone
and test continuity to the new Southern Target zone. Drilling will
initially cover an overall area of approximately 750 metres east-west
and 1.5 kilometres north-south to depths of greater than 300 metres.

The Company is currently performing geology and geochemical surveys and
expects to mobilize geophysical and drilling crews to the adjacent
Vicuna project located west of Josemaria towards the end of
January/early February.

Tenke Mining Corp. is a Canadian mineral exploration and development
company, trading on the Toronto Stock Exchange under the symbol TNK.
Tenke has optioned, staked and acquired a large, diversified portfolio
of quality exploration properties in Argentina. The total land package
encompasses over 1.2 million hectares and covers key prospective gold
and base metal regions and mineralized belts in the country. In
addition, the Company holds a majority interest in the Tenke Fungurume
copper/cobalt deposits in the DRC. These deposits are considered the
largest and richest undeveloped copper/cobalt deposits in the world
today and the Company is making progress in the advancement of this
important asset.

Tenke's exploration programs in Argentina are carried out under the
direction and management of J. Patricio Jones, PhD. and Ricardo
Martinez, MSc. (Geology). Dr. Jones holds a Master of Science degree in
geology from Witwatersrand University and a Doctorate from La Plata
University. Information and results from the exploration programs
carried out on Tenke's properties is reviewed by Mr. Paul K. Conibear,
P.Eng., President of Tenke Mining Corp., who is an appropriately
qualified person as defined by National Instrument 43-101. Samples are
sent to ALS Chemex labs in Santiago, Chile, for analysis using
conventional ICP methods with multi-acid digestion. A 50 gram fire assay
with AA (atomic absorption) finish is run on all samples for gold. A
series of blanks are routinely introduced with each batch of samples.
Quality controls include preparation and analysis statistics performed
to industry standards. All copper assays above 1% Cu are re-assayed
using atomic absorption methods.

On Behalf of the Board

Paul K. Conibear, President

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Tenke Mining Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)
    Website: www.tenke.com