Tenajon Resources Corp. - Summit Lake Project

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Summit Lake -- Technical Report March 29, 2006

Summit Lake Property

Tenajon Resources Corp. owns 100% of the Summit Lake Gold Property, located 50 km north of Stewart, BC. This property hosts the formerly producing Scottie Gold Mine and several other prospective targets including the Bend Vein and Road Showing.

Highlights

High-Grade, advanced stage exploration
Former producing Summit Gold Mine (201,462 tons averaging 0.474 ounces per ton gold) with an historical geological resource of 132,306 tons averaging 0.560 opt Au (not NI43-101 compliant)
2006 exploration continued to test the underground and surface zones with 3,650m of underground drilling and 376m of surface drilling completed with two new zones being discovered (the R Zone and the Grizzly Zone)
Results include 4.6 ft grading 0.332 oz/ton gold (11.34gpt) in the newly discovered R Zone and 3.35 ft grading 0.318 oz/ton gold (10.87gpt) in the newly discovered Grizzly Zone
2005 underground and surface drill programs intersected high-grade gold
Results include 26.2 ft. of 0.721 oz/ton gold, 12.1 ft. of 0.824 oz/ton gold, and 4.67 metres of 23.01 g/t gold
Underground zones are open at depth and along strike
The Bend, Blueberry, and Grizzly Zones (surface) are located within 2.5 km from the underground workings
Many unexplored high grade targets remain to be drilled
Sound infrastructure is in place
An independent NI 43-101 resource estimate is currently being calculated

Project Summary

Tenajon's Summit Lake Property is located 50 km north of Stewart in northwestern British Columbia. This property hosts the formerly producing Scottie Gold Mine and several other prospective targets including the Bend Vein and Road Showing.

Mineralization, consisting of gold bearing quartz ± carbonate sulphide veins, is related to the emplacement of an intrusion. Within the veins high grade gold values occur in steeply plunging shoots. The setting and style of the mineralization is similar to that found in intrusion related mesothermal veins, a category that includes the formerly producing Snip (1 million ounces) and LeRoi/Centre (2 million ounces) gold mines.

Thirteen gold bearing zones have been located on the property. Four of the zones, L, M, N and O, occur in a 650 foot wide northwest trend and in 2006 two new zones were discovered, the R zone (underground) and the Grizzly zone (surface). Development of the M, N and O Zones in the early 1980's resulted in the production of 95,426 ounces of gold at an average grade of 0.474 ounces per ton. At shutdown, mine personnel calculated the geological resource within the workings to be 132,306 tons averaging 0.560 ounces per ton gold. This calculation was completed prior to the implementation of National Instrument 43-101 and is only listed to indicate the potential that could exist within the mine workings. Tenajon is currently compiling data on the Summit Lake Gold Project and will release a 43-101 compliant resource estimate when completed.

2006 Exploration Program

L, M, N Zones (underground)

In 2006 Tenajon completed 3,650 metres of underground drilling in a total of 26 drill holes. The underground drill program was completed in October 2006 and tested various zones at the Summit Lake Gold Mine. Six holes tested the L Zone, 15 holes tested the M Zone and areas to the west of the M zone while one hole tested the N Zone. Two holes tested a blind target area east of the main workings considered favourable for hosting new zones.

Highlights of the underground drill program include the discovery of a new underground zone, the R Zone. The R Zone is located 450 feet to the south of the M Zone and includes the easternmost holes drilled at the 3000 foot level. Results included 7 feet averaging 0.270 oz/t gold.

The 2006 underground program demonstrated that high grade gold mineralization similar to that previously mined at the Summit Lake Gold Mine extend from surface at the 4000 foot level down to the 2750 foot level. Above the 3000 foot level the zone extends westward up to 400 feet from the existing workings. Below the 3000 foot level the zone is approximately 500 feet long. Width and grade are variable both along strike and dip with high grade values occurring adjacent to low grade sections.

Highlights from the 2006 Summit Lake underground drill program include:

Hole #	From (ft)	To (ft)	Int.(ft)	True Width (ft)	Oz/t Gold	g/t Gold	Location
755	523.6	540.3	16.7	11.9	0.096	3.28	M Zone
incl	538.0	540.3	2.3	1.6	0.569	19.43
757	616.4	621.5	6.1	4.6	0.332	11.34	M Zone
761	176.0	181.4	5.4	5.4	0.095	3.24	M Zone
incl	179.4	181.4	2.0	2.0	0.222	7.58
	411.7	416.6	4.9	4.9	0.073	2.49	L Zone
	594.1	601.1	7.0	7.0	0.271	9.25	R Zone
incl	594.1	596.5	2.4	2.4	0.698	23.84	R Zone

Blueberry, Bend, and Grizzly Zones (surface)

In 2006, 5 holes totaling 376.51 metres were drilled on the Blueberry Grid, located 2 km north of the mine. The Blueberry Grid hosts two zones of mineralization, the previously known Blueberry zone and the newly discovered Grizzly zone. The Grizzly zone was discovered through a prospecting and geophysical surveying program over the Blueberry Grid. This new zone contains anomalous to high grade gold values over a 350 metre strike length with the zone being open. Outcrop samples returned highly encouraging results with grab samples assaying up to 108 g/t Au, while chip sample results include 11.216 g/t Au over 2.5m and 14.10 g/t Au over 1.2m. Drill results on the Blueberry Grid include:

1.02m grading 10.87 g/t gold
3.57m grading 3.46 g/t gold.

Surface prospecting and sampling conducted during 2006 located several new gold bearing occurrences. Approximately six hundred metres to the northwest of the mine workings are a series of up to 0.5 metre wide sulphide bearing quartz veins. Limited sampling has returned positive results including a 0.5 metre chip sample assaying 14.7 g/t Au with 712 g/t Ag and a grab sample assaying 3.77 g/t Au with 125.20 g/t Ag. Approximately 600 metres to the southeast of the mine workings a quartz sulphide vein up to 3 metres wide has been traced for 30 metres. Chip sample results include 1.5 and 3 metre wide samples respectively assaying 10.12 and 6.55 g/t Au. Additional work is required to evaluate these vein systems.

2005 Exploration Results

L, M, N Zones (underground)

In 2005, a drill program consisting of 19 underground diamond drill holes totaling 6,651 feet in length tested the continuity along strike and down-dip of the L, M, and N Zones. Drilling was undertaken from the existing mine workings. The program successfully expanded all three zones, and, of the three zones tested, the M Zone is considered to have the best potential for hosting additional significant reserves. Several high grade intercepts were intersected with the zone remaining open to the west along strike.

Results from the 2005 underground drilling program include:

26.2 ft. of 0.721 oz/ton gold
12.1 ft. of 0.824 oz/ton gold
5.2 ft. of 1.008 oz/ton gold

Bend, Blueberry and Road Zones (surface)

The 2005 surface drilling program was very successful in showing the potential to expand the overall resource in areas away from the underground workings (L, M and N Zones). The program consisted of 16 drill holes totaling 2095 feet in length and was conducted on three outcropping zones; Bend, Blueberry and Road. These zones are located 2.5 km from the underground workings and contained significant gold values with multiple high grade gold intersections.

Results from the 2005 surface drilling program include:

4.67 metres of 23.01 g/t gold
2.00 metres of 21.50 g/t gold
1.43 metres of 31.82 g/t gold

2004 Exploration Results

L, M, and N Zones

In 2004, 14 underground diamond drill holes tested the continuity of the L, M and N Zones. The program was highly successful with high grade intercepts being intersected in all three zones. Drilling to the west and below the main workings of the M Zone showed it to be open in both directions.
Results from the 2004 program included:

14.3 ft. of 1.137 oz/ton gold
13.8 ft. of 0.961 oz/ton gold
6.2 ft. of 0.880 oz/ton gold
6.7 ft. of 0.475 oz/ton gold

Other Zones

Outside of the main workings several other zones occur on the property including the Bend and Road showings. At the Bend limited drilling has outlined a 130 foot long x 6 foot wide block to a 100 foot depth averaging 0.906 oz/ton Au. Two holes completed below the block intersected similar mineralization with anomalous gold grades. A review of the drilling shows no holes have been completed below the block down the plunge of the mineralization. The Road Zone was discovered in 2004. Limited chip sampling returned encouraging results including 4.92 feet averaging 0.606 oz/ton Au across a sulphide bearing vein and a 1.5 foot section assaying 0.276 oz/ton across a secondary structure.

Property History

2006	A 31 hole drill program continued to test the underground and surface zones with 3,650m of underground drilling and 376m of surface drilling completed. Two new zones were discovered (the R Zone and the Grizzly Zone).
2005	19 underground diamond drill holes totaling 6,651 feet in length tested the continuity along strike and down-dip of the L, M, and N Zones. The program successfully expanded all three zones. In the M Zone, several high grade intercepts were intersected with the zone remaining open to the west along strike. In addition, 16 drill holes totaling 2095 feet was conducted on three outcropping zones; Bend, Blueberry and Road. These zones are located 2.5 km from the underground workings and contained significant gold values with multiple high grade gold intersections.
2004	A 14 hole underground drill program was completed that tested the M and N Zones and a secondary target the L Zone. Minor prospecting was undertaken. The work returned highly encouraging results.
2003-2004	Tenajon personnel undertook a data review of the Summit Lake Property. Several targets were identified in the vicinity of existing workings and elsewhere on the property.
1985-2003	Limited exploration completed at the Summit Lake Gold Mine and on the C, Bend and other zones by Royal Scot Resources and Tenajon Resources Corp.
1981-1985	95,426 ounces were recovered from 201,462 tons milled (average grade of 0.474 opt gold) from the M, N and O Zones. Most of the production was from the M Zone. Recovery rate in the last quarter was between 92 and 95%. Due to a drop in gold price to $300/ounce and high interest rates the mine was shutdown. At shutdown, reserves in all categories, not 43-101 compliant, were calculated to be 132,306 tons averaging 0.56 opt Au.
1980	Feasibility study undertaken with gold at $660/ounce. Decision made to place property into production.
1978	Scottie Gold Mines formed to develop the Summit Lake Property.
1928-1978	Intermittent exploration completed that included drilling and drifting.
1928	A series of gold bearing veins were located at Summit Lake.