Serengeti Resources Inc.
TSX VENTURE : SIR

Serengeti Resources Inc.

November 18, 2008 13:00 ET

Serengeti and Fjordland Identify High Priority Gold Drill Target on Their Mil QUEST JV Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2008) - Serengeti Resources Inc. (TSX VENTURE:SIR) and its 50-50% joint venture partner, Fjordland Exploration Inc. (TSX VENTURE:FEX), are pleased to report that follow-up geophysics at their Mil project has defined a high priority drill target located 15 km southwest of Terrane Metals' Mt. Milligan copper-gold deposit and within two kilometers of a major all-weather road (to view attached map, please click on the following link: http://media3.marketwire.com/docs/SIRA1118.pdf).

David Moore, President & CEO of Serengeti comments, "The geophysical characteristics of this target are very similar to those observed at our Kwanika deposit, located 90 km to the northwest." The target characteristics are as follows:

- Directly coincident induced polarization (IP) chargeability and resistivity high with flanking magnetic anomaly.

- Target measures 1500 meters by 1000 meters and is interpreted to lie approximately 75 to 100 meters below surface and beneath the depth of penetration of prior IP geophysical surveys.

Furthermore, results of prior geochemical surveys available in government open files indicate a strong gold anomaly in glacial till with values up to 2300 parts per billion immediately east of the geophysical target. The glacial ice movement is interpreted to have been from west to east, which would potentially place the gold source in the vicinity of the geophysical target. "The target at Mil is an exceptional one, and we have applied for a drilling permit for 2009," elaborated Tom Schroeter, President & CEO of Fjordland.

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 copper-gold and molybdenum 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 www.serengetiresources.com. Serengeti is well funded to advance its projects with a working capital position of approximately $9.5 million.

Quality Assurance/Quality Control

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed by the Company's qualified person David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.

Cautionary Statement

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact here-in, including, without limitation, statements regarding exploration results and 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.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Contact Information