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Gold/Mining/Energy : MOLYMANIA the race is on -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (188)	1/25/2005 12:01:15 PM
From: Rocket Red	Respond to of 336

tys good trader

To: Eva who wrote (188)	1/25/2005 1:09:53 PM
From: Rocket Red	Respond to of 336

Tenajon begins review of Ajax's historical data 2005-01-25 12:31 ET - News Release Shares issued 21,378,395 TJS Close 2005-01-24 C$ 0.31 Mr. D. Bruce McLeod reports AJAX MOLBDENUM PROJECT UPDATE Tenajon Resources Corp. has provided an update on its Ajax molybdenum project located 13 kilometres north of Alice Arm, B.C. The Ajax project was originally explored during the 1960s by Newmont and Inco. Drilling, which concluded in 1967, outlined a mineral inventory of 192 million tons grading 0.123 per cent MOS2. This calculation was completed prior to the implementation of National Instrument 43-101 and is only listed for reference purposes. The project was dropped by Newmont in 1996 due to low molybdenum prices (less than $5 (U.S.) per pound) and was subsequently staked by Tenajon and held in inventory. Recently molybdenum oxide prices have traded at high as $35 (U.S.) per pound. The company has commenced a detailed review of all historical data and initiated a compilation of all exploration work completed on the property. The deposit is open to the north, south and west and at depth. Historical Newmont and Inco data indicated that both tonnage and grade may increase with depth. Several studies conducted by the Newmont/Inco joint venture also concluded that molybdenum recovery was poor due to the nature of the mineralization and drilling methods in use at that time. According to these studies, grades may have been understated. Prior to Newmont dropping the project, several follow-up exploration programs were recommended but not initiated, including deep drilling to test the down-dip potential and underground bulk sampling to better estimate the grade of the deposit. The review now under way is being designed to develop an exploration program that will evaluate the potential to increase the grade and tonnage of the deposit. The program is under the supervision of Dave Visagie, PGeo, senior geologist for the company, who is a qualified person as defined by National Instrument 43-101. We seek Safe Harbor.