Serengeti Resources Inc.
TSX VENTURE : SIR

Serengeti Resources Inc.

May 05, 2008 08:30 ET

Serengeti Extends Exercise Term of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2008) - Serengeti Resources Inc. (TSX VENTURE:SIR) advises that, subject to regulatory approval, it has agreed to extend the exercise term of a total of 2,333,200 share purchase warrants issued in its brokered and non brokered private placements, raising aggregate proceeds of $19,999,200.00, which closed June 8, 2008.

The Company intends to extend the exercise term of the above warrants for an additional 12 months, from an expiry date of June 8, 2008 to an expiry date of 4:30 pm Vancouver Time on June 8, 2009. The exercise price of these warrants will remain at $4.00 per share.

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 or www.corebox.com.

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

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