Serengeti Resources Inc.

Serengeti Resources Inc.

October 13, 2009 13:00 ET

Serengeti Commences Drilling on Choo and Mil Gold-Copper Targets Near Mt. Milligan, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR) is pleased to announce that drilling has commenced on its 100% owned Choo property and on the adjacent Mil joint venture property, one of eleven properties comprising the QUEST joint venture with Fjordland Exploration Inc. (TSX VENTURE:FEX). The Choo and Mil copper-gold properties encompass a large (19,800 hectare) contiguous block, located 15 to 25 kilometers southwest of Terrane Metals' Mt. Milligan copper-gold deposit, which is currently progressing towards development. The area of the proposed drilling is located immediately west of the "North Road" that runs from Fort St. James to Germansen Landing.

The Choo property covers a large, intense aeromagnetic and induced polarization anomaly measuring approximately ten by two to three kilometers in extent. Historic shallow (less than 100 meter) drilling of this target has yielded anomalous copper-gold values in highly altered volcanic rocks. Two deeper (approximately 300 meter), holes will be drilled in the current program in a previously untested portion of this large geophysical target. Geochemical sampling earlier this summer outlined moderate to strong copper and gold anomalies in the area to be tested.

On the Mil, a large aeromagnetic anomaly measuring ten by five kilometers in diameter has been outlined by previous government surveys. Within this area, the QUEST joint venture has outlined an attractive induced polarization chargeability and resistivity anomaly over an area measuring one and a half by one kilometer, coincident with a previously identified glacial till gold anomaly (up to 2300 ppb). The IP anomaly flanks a prominent magnetic high and is interpreted to lie 75 to 100 meters below the surface. Previous very shallow drilling in the vicinity of the current target encountered minor copper mineralization in strongly altered volcanic rocks but did not test the IP anomalies at depth. A second target on the Mil property, located six kilometers to the northwest of the area described above, was identified in the course of the exploration program earlier this summer and will also be drill tested.

Serengeti will fund the drilling on its 100% Choo property and as operator of the QUEST JV will also fund the drilling at Mil, thereby increasing its ownership in the joint venture to approximately 58%; Fjordland maintains the right to participate in any future work. Elsewhere, the QUEST joint venture has also identified a strong induced polarization anomaly on the 4,800-hectare Rob property, located 15 kilometers east of the Mt. Milligan deposit.

The Mt. Milligan project, where Goldcorp Inc. owns a 59% equity interest in Terrane Metals on a fully diluted basis, has proven and probable mining reserves estimated at 333 million tonnes grading 0.217% copper and 0.428 g/t gold (approximately 1.6 billion pounds of contained copper and 4.6 million ounces of contained gold). Terrane recently received a Provincial Mines Act Permit which, along with other approvals currently under review, would allow it to proceed with the project.

Quality Assurance/Quality Control

The field program was supervised by Serengeti Resources Inc. staff. 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.

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 which contains an Indicated Resource of 183 million tonnes grading 0.29% copper, 0.28 g/t gold at a 0.25% copper equivalent cutoff. This includes a higher grade zone of 75 million tonnes grading 0.41% copper and 0.42 g/t gold at a 0.4% copper-equivalent cutoff. Serengeti also continues to explore for additional 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 $9 million which includes $2.3 million receivable from the B.C. government's METC program. Serengeti has 45.8 million shares issued and outstanding or 51.3 million shares on a fully diluted basis.

The Company has currently completed approximately 8,000 meters in 28 holes in its 2009 drill program, including 6,750 meters in 17 holes on the Kwanika property. To date, results have been reported on 14 holes. The balance of the results, including those from three recently completed deep holes on the South Zone at Kwanika where encouraging results were reported earlier this year, will be reported when available.

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.

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

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