Serengeti Resources Inc.
TSX VENTURE : SIR

Serengeti Resources Inc.

December 08, 2006 09:30 ET

Serengeti Completes Phase II Drilling at Kwanika Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 8, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR) reports that it has recently completed the second phase of drilling on its Kwanika copper-gold property. Five holes totaling 1257 meters were drilled, following up on copper-gold mineralization first identified in a program on the property in August (See News Release dated September 20, 2006). All holes drilled in the current program have encountered sulphides, with particularly encouraging signs of copper mineralization encountered in drill hole, K-06-9. Kwanika is situated midway between the Lorraine and Mt. Milligan deposits (206 million tonne resource grading 0.25 % copper, 0.6 g/t gold) and is accessible by road from Ft. St. James, B.C.

The five holes in the current program were drilled within a 500 by 500 meter area around earlier hole K-06-4 and tested the central portion of a large induced polarization (IP) chargeability anomaly described in more detail in News Release dated November 15, 2006. Strongly altered andesitic volcanics and monzonitic intrusive rocks carrying variable amounts of pyrite and lesser chalcopyrite have been encountered in all holes. The most southerly hole of the current program, K-06-9 has provided the visibly most encouraging signs and contains three styles of copper mineralization within a 131m interval: a 33m thick upper zone from 73-106m containing minor native copper in hematitic breccia followed by a 6m dyke; a 3m zone from 112-115m containing supergene chalcocite mineralization; followed by an 89m thick primary sulphide zone from 115-204m carrying variable amounts of pyrite, chalcopyrite and minor covellite and bornite within highly altered monzonitic rocks. The intensity of mineralization appears to increase towards a fault at the base of the zone. A narrower interval of copper mineralization was also encountered in the footwall to the fault, before the hole was stopped at 230m depth.

The mineralization and alteration described above has not been confirmed by assay or mineralogical analysis and consequently this information should not be relied upon for quantitative purposes. Sawn drill core has been submitted for assay, with priority put on hole K-06-9. Results will be released when available.

The Company also announces that it has tripled the size of its 100% owned land position at Kwanika by staking, to 94 sq km and staked three additional blocks to the north, totaling 185 sq km in a similar geological setting.

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 discovery and development of copper-gold molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough. Additional information can be found on Serengeti's website at www.serengetiresources.com.

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.


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

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