Serengeti Resources Inc.

Serengeti Resources Inc.

June 08, 2009 09:30 ET

Serengeti Announces Larger Summer Drilling Program on Kwanika and High Priority Regional Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR) has increased its exploration budget for this summer's drilling program, now scheduled to start at the Company's 100% owned Kwanika copper-gold property on or about June 20th. The budget for the summer program has been increased by 20% to $3.1 million, and this, together with lower prices for 2009 project work, will enable Serengeti to drill approximately 6,750 meters in 27 holes, testing nine exploration targets across four properties. In addition, joint venture partner Newcrest Mining BC Limited has received approved work permits for a separate 2,400 meter drill program on Serengeti's Croy Bloom property.

The following table summarizes the number of holes, meters and targets on each property.

2009 Discovery Opportunities
Property Holes Meters Targets Commodity
Central 12 3,400 4 Cu Au Mo
Kwanika South 5 1,000 2 Cu Au Mo
Osilinka 5 1,000 1 Cu Au Ag
Mil 3 750 1 Cu Au
Choo 2 600 1 Cu Au
Croy Bloom
(Newcrest) 4 2,400 3 Cu Au
Total 31 9,150 12 Cu Au Mo Ag

The drilling program will start on the Kwanika property where approximately half of the program will test:

- High priority targets around the Central Zone where an Indicated Resource of 75 million tonnes grading 0.41% copper and 0.42 g/t gold was announced on February 25, 2009, (see NR 2009-04).

- Step-outs to the South Zone where 2008 drilling in 14 holes returned an average of 0.36% copper, 0.13 g/t gold and 0.01% molybdenum over an average 82 meter composite intercept. The objectives of the drill program are to significantly expand the known mineralized zones and search for new centers of good grade copper-gold-molybdenum mineralization.

For more information on the prior drill results at Kwanika, visit

The balance of the drill program funded by Serengeti is as follows:

- 1,000 meters on two other targets in the very large Kwanika block, including three holes on a strong copper-molybdenum geochemical response coincident with an induced polarization (IP) geophysical anomaly 10 km south of the Central zone, and two holes on a copper-gold target at the southern end of the claim block.

- 1,000 meters in five holes to test a highly attractive copper-gold-silver geochemical and coincident IP anomaly on the Osilinka block located 35 km north of Kwanika.

- 750 meters in three holes testing a target with attractive IP geophysical and gold geochemical results on the Mil property located 15 km west of the Mt. Milligan copper-gold deposit. The Mil property is currently held in a 50-50% joint venture with Fjordland Exploration Inc. Serengeti will fund the 2009 drilling and earn additional ownership in the Quest JV including Mil.

- 600 meters in two holes testing a very large IP anomaly on the Choo property. Drilling in the vicinity in the 1990's by a previous owner showed anomalous copper-gold mineralization. Exploration data recently purchased by Serengeti from Amarc Resources Ltd also indicates two additional IP geophysical targets (coincident in one case with a copper geochemical anomaly) on the Choo property and follow up is planned on these new targets this season.

In addition to the program funded by Serengeti, Newcrest Mining BC Limited has received approved work permits for a four hole deep drilling program on Serengeti's Croy Bloom-Davie Creek property located 85 kilometers south of the Kemess mine.

About Serengeti

Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the advancement of its Kwanika copper-gold project and on the discovery of gold and copper deposits on its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. Additional information on Serengeti's projects can be found on the Company's website at Serengeti is well funded to advance its projects with a current working capital position of approximately $8.6 million and a 2009 budget of $3.1 million which includes more than 6,750 meters of planned drilling scheduled to start in June. Furthermore, the Company expects to receive a refund of approximately $2.5 million from the B.C. government's METC program, which amount is not currently included in the working capital position indicated above.

Cautionary Statement

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Readers are advised not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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