Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

June 11, 2008 08:30 ET

Tenajon Intersects 76.52 Metres Averaging 0.131% Molybdenum at Moly Brook, Newfoundland

Drilling Expands the Moly Brook Deposit to the West and to Depth

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") today announced the completion of the first phase 2008 exploration drill program at its Moly Brook property, located on the south coast of Newfoundland. Complete assay results have been received for one hole, while partial results were received for another.

"We are very pleased with the first set of assay results. The Moly Brook zone is proving to be not only wider and deeper than what was shown in the 2007 drill program, but it is also demonstrating excellent down dip continuity," said Bruce McLeod, President & CEO of Tenajon. Mr. McLeod adds, "Molybdenum mineralization extends to surface and we are witnessing consistent grades in excess of 0.08% molybdenum over significant widths. The Moly Brook deposit is demonstrating all the key ingredients of a potential bulk tonnage and open pittable deposit. Based on these positive results, we will keep the drills at site and continue on with a Phase 2 drill program."

In the Phase 1 drill program, approximately 6,100 meters of drilling was completed in fourteen drill holes. Due to the favourable assay results in the first two holes and visual estimations of the remaining twelve holes, the Company has commenced a 3,050 metre Phase 2 drill program. Drill results received to date indicate that the Moly Brook zone continues at depth, is open to the west of previous drilling, demonstrates excellent down dip continuity, and molybdenum mineralization extends to surface.

Holes MB08-13 and 14 were drilled to test the continuity of the mineralization intersected in Hole MB07-05 on Section 10720 N. MB08-13 tested the zone up dip and to the west of what was interpreted to be the western boundary of the zone while MB08-14 tested the zone from 100 to 170 metres down dip. MB08-13 intersected a 409.14 metre section, commencing from surface, averaging 0.061% molybdenum (0.102 MoS2). Within the intercept there are several high grade intersections including a 30.48 metre section averaging 0.119% molybdenum (0.198 MoS2) and a 54.94 metre intercept averaging 0.094% molybdenum (0.157 MoS2). MB-08-14 intersected a 250.50 metre section averaging 0.072% molybdenum (0.120 MoS2) including a 76.52 metre section averaging 0.131% molybdenum (0.218 MoS2). The results for MB08-14 have been received to 337.50 metres and assay results for the remainder of the hole are pending. The results of MB07-5 along with that of Holes MB08-13 and part of 14 are reported at the end of this press release. For current drill hole locations along with a detailed cross section, please view the accompanying maps:

To view drill hole location map please click on: http://media3.marketwire.com/docs/tjs0611a.jpg

To view cross section please click on: http://media3.marketwire.com/docs/tjs0611b.jpg

Tenajon has also received the results of a 1960's soil sample program from the south end of the property showing widespread anomalous molybdenum values. The anomaly was partially drilled in 1964 with both holes intersecting anomalous molybdenum values including a 27.43 metre intercept averaging 0.057% molybdenum. The location of this potential zone is approximately 1.8 kilometres south of the Moly Brook Deposit along a trend of anomalous molybdenum in soil and rock referred to as the Moly Brook Trend. Historic data was collected before the implementation of NI 43-101 and is presented only for information purposes. The Company has no way of verifying the results. Investors are cautioned that recent independent verification has not been completed and the historical results should not be relied upon.

The Moly Brook property is located 2.5 km from the hamlet of Grey River on the south coast of Newfoundland, less than 4 km from a deep water, ice free navigable fjord. The community is serviced daily by provincial ferries. For the duration of the program the crew will operate out of a recently established 25 person camp centrally located on the property. Drill moves are completed using tracked equipment.

Assuming a subvertical orientation, the results show the zone on Section 10720 N to be in excess of 450 metres wide and open to the west. Vertically the zone has been traced 250 metres and is open at depth.

Tenajon has received from the Newfoundland Government a molybdenum in soil traverse map documenting the results of a soil survey completed in the 1960's by Buchans Mining at the south end of the property. The map shows anomalous molybdenum to occur over a 200 x 300 metre area. Within the zone molybdenum values reportedly range from less than 25 to in excess of 1000 ppm. In 1964 two packsack drill holes tested portions of the zone. Both holes intersected anomalous molybdenum values. Results included a 27.43 metre section averaging 0.057% molybdenum with the final 7.61 metres averaging 0.118% molybdenum. Historic data was collected before the implementation of NI 43-101 and is presented only for information purposes. The Company has no way of verifying the results. Investors are cautioned that recent independent verification has not been completed and the historical results should not be relied upon.

At Moly Brook molybdenite occurs primarily along the rims of a series of north trending, subvertical, sheeted quartz veins and fracture faces along a 2 km long trend. Drilling at the north end of the trend has traced the main zone for 750 metres along strike with the zone being open along strike and dip. Width is variable to 450 metres with the ultimate width of the zone not determined as several of the holes ended in significant mineralization.

The drill program at Moly Brook is being completed by Geoscott Consultants under the supervision of Dave Visagie, P. Geo., a Qualified Person as defined by NI 43-101.

At Moly Brook, drill core is sawn into halves with one half being sent for analysis and the other kept for future reference. All samples are prepared at Accurassay Labs, Gambo, Newfoundland using a 600 gram split with the resultant pulp being analyzed at Accurassay Labs, Thunder Bay, Ontario using a 4 acid digestion with analysis by Induced Couple Polarization (ICP). A stringent program of check, blank and duplicate sampling is employed throughout with duplicates, standards and blanks being entered into the sample stream at regular intervals.

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.



2008 Moly Brook Drill Results
To accompany Tenajon Resources News Release Dated June 11, 2008

--------------------------------------------------------------------
Length From To Interval Mo MoS2
Hole (m) (m) (m) (m) (%) (%)
--------------------------------------------------------------------
MB-08-13 410.67 1.53 410.67 409.14 0.061 0.102
--------------------------------------------------------------------
or 108.81 349.60 240.79 0.074 0.123
--------------------------------------------------------------------
inc. 127.15 157.58 30.48 0.119 0.198
--------------------------------------------------------------------
inc. 215.49 270.43 54.94 0.094 0.157
--------------------------------------------------------------------
inc. 307.01 322.17 15.16 0.092 0.153
--------------------------------------------------------------------
inc. 340.64 349.60 8.61 0.099 0.165
--------------------------------------------------------------------
386.28 404.57 18.29 0.071 0.118
--------------------------------------------------------------------

--------------------------------------------------------------------
MB08-14 401.4 87.48 337.50 250.50 0.072 0.120
--------------------------------------------------------------------
inc. 87.43 114.91 27.43 0.073 0.122
--------------------------------------------------------------------
or 200.03 337.50 137.47 0.092 0.153
--------------------------------------------------------------------
inc. 200.03 276.52 76.52 0.131 0.218
--------------------------------------------------------------------
and 316.16 337.50 21.34 0.080 0.133
--------------------------------------------------------------------

--------------------------------------------------------------------
MB07-5 317.91 31.39 317.91 285.52 0.074 0.123
--------------------------------------------------------------------
inc. 31.39 37.49 6.05 0.137 0.228
--------------------------------------------------------------------
and 55.78 83.21 27.43 0.095 0.158
--------------------------------------------------------------------
and 128.93 152.10 23.17 0.099 0.165
--------------------------------------------------------------------
and 208.18 317.91 109.8 0.085 0.142
--------------------------------------------------------------------
and 296.57 317.91 21.34 0.088 0.147
--------------------------------------------------------------------

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tenajon Resources Corp.
    Bruce McLeod
    Investor Contact
    (604) 687-7545
    or
    Tenajon Resources Corp.
    Brad Kopp
    Investor Contact
    (604) 687-7545
    (604) 689-5041 (FAX)
    Website: www.tenajon.com