Serengeti Announces 2020 Exploration Permits, Plans and Strategy

VANCOUVER, British Columbia, June 02, 2020 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") is pleased to report that permits have been received from the Ministry of Energy and Mines (“MEM”) for all activities planned for 2020. The fully funded 2020 field season work is planned to begin in mid-June. It will focus on key opportunities to add value to the advanced Kwanika copper-gold project and to the highest priority regional exploration targets, East Niv and Top Cat. The Company’s programs will be conducted while following health and safety guidelines of the Province of BC issued May 13^th, 2020.

Serengeti’s and its majority owned subsidiary Kwanika Copper Corporation’s (“KCC”) combined cash position is approximately $2.4 million. These funds are sufficient to fund expenditures outlined below, along with 2020 general and administrative expenses.

David Moore, President and CEO of Serengeti commented. “Our exploration team looks forward to getting started on the program. The drilling at Kwanika has the potential to expand the known resource in several directions, and importantly will provide a deep test for a gold-rich system below a near-miss drill hole from 2016. I have always liked the geological similarities the Rottacker target area has to Kwanika Central Zone. Success with the IP geophysics here could outline a high probability drill target. With regards our regional exploration, I am particularly intrigued by the possibilities presented by the Nova copper-gold-palladium target at Topcat and East Niv offers excellent potential to outline a significant new gold-rich, porphyry copper system.”

Permitting, Health & Safety

Permits granted include Kwanika, Top Cat and East Niv Induced Polarization (“IP”) and drilling for Kwanika. Mutually beneficial relationships with First Nations continue to be developed in the areas in which we conduct operations.

The Company, in response the BC Public Health Officer’s recent Orders and Guidelines regarding COVID-19, has developed detailed Infection Prevention and Control Protocols (“IPCP”). These will guide exploration programs in 2020 and will be shared with MEM and local First Nations prior to program initiation.

Kwanika Resource and Exploration Drilling Program

Phase 1:

This season’s exploration program will begin with IP surveys over several selected areas on the Kwanika claim block to define future drilling targets. IP Targets of interest include: i) two Central Zone areas to the north and south, near the Pinchi Fault, where prior ground and airborne geophysics indicate signatures similar to those previously associated with the Central Zone. Serengeti is scheduling Kwanika Phase 1 work to start in mid-June.