Yungdrung B"on, meaning 'Eternal Light' or 'Enlightened Teaching', is the original and authentic spiritual tradition of Tibet. It is based on the principle of practising unconditional love and compassion towards all and is Thegpa Chenpo or Mahayana in its approach. Many of the teachings are similar to those found in the four principal schools of Buddhism, especially the Nyingma-pa school, and are aimed at enabling all to access Enlightenment and freedom from the shackles of Samsara. The most obvious points of differentiation between the schools would appear to be in their points of origination, the number of refuge objects and in the nomenclature employed in relation to the deities and Jang-chub Sempas (Bodhisattvas).
Whereas general Buddhism relates back to the teachings of Buddha Shakyamuni, (who lived approximately two and a half thousand years ago), Yungdrung B"on traces its lineage directly back to its founder, Bhuddha Tonpa Shenrab Miwoche, who came and taught in Wolmo Loong Ring (otherwise known as Shambala) over 18,000 years ago. From there his teachings spread around the world in different guises, being introduced into Tibet from the neighbouring country of Zhang-Zhung - which includes western Tibet and Gangchen Tisi (Mount Kailash).
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Reference: way-of-witch.blogspot.com