Serengeti Resources Inc.
TSX VENTURE : SIR

Serengeti Resources Inc.

August 26, 2009 08:30 ET

Serengeti Intersects 0.78% Copper Equivalent Over 150 Meters in South Zone at Kwanika

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR) is pleased to announce the results from the initial five holes drilled in the course of this summer's exploration program at the Company's Kwanika property in BC.

The results include a near surface intercept grading 0.51% copper, 0.14 g/t gold, 2.7 g/t silver and 0.024% molybdenum (0.78% copper equivalent) over 150.3 meters in hole K-126. This is the best hole drilled to date on the South Zone which is located approximately two kilometers south of the Central copper-gold Zone at Kwanika, that was the subject of a NI 43-101 mineral resource estimate in March 2009.



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Drill Holes K-09-124 to K-09-128 Significant Analytical Results
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Orient-
Inter- Cop- Sil- Copper Gold ation
From To val per Gold ver Moly Equiv. Equiv. (dip/
Hole (m) (m) (m) % g/t g/t % % g/t az)
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K-124 126.6 228.0 101.4 0.05 0.03 0.2 0.033 0.30 0.51 Vertical
-------------------------------------------------------------
Incl. 189.9 196.0 6.2 0.05 0.32 0.0 0.372 2.79 4.78
-------------------------------------------------------------
259.5 502.0 242.5 0.41 0.05 2.1 0.018 0.58 1.00
-------------------------------------------------------------
Incl. 290.3 502.0 211.7 0.44 0.05 2.3 0.019 0.63 1.07
-------------------------------------------------------------
Incl. 423.5 463.0 39.6 0.65 0.07 3.1 0.028 0.92 1.57
----------------------------------------------------------------------------
K-125 71.8 122.2 50.4 0.23 0.05 1.3 0.005 0.31 0.53 -80
------------------------------------------------------------- degrees/
Incl. 103.3 122.2 18.9 0.39 0.08 2.6 0.010 0.53 0.91 90
------------------------------------------------------------- degrees
165.3 186.8 21.5 0.21 0.14 2.0 0.003 0.33 0.57
-------------------------------------------------------------
306.3 363.5 57.2 0.13 0.21 1.7 0.002 0.28 0.49
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K-126 77.0 227.3 150.3 0.51 0.14 2.7 0.024 0.78 1.35 -70
------------------------------------------------------------- degrees/
Incl. 86.2 101.3 15.1 0.78 0.25 1.9 0.025 1.12 1.92 90
------------------------------------------------------------- degrees
And 121.4 146.1 24.7 0.58 0.25 2.7 0.044 1.06 1.81
-------------------------------------------------------------
And 189.8 197.2 7.5 1.42 0.12 9.0 0.009 1.65 2.82
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K-127 64.7 121.3 56.6 0.33 0.09 2.2 0.030 0.61 1.07 -65
------------------------------------------------------------- degrees/
Incl. 98.9 121.3 22.4 0.45 0.13 3.2 0.061 0.98 1.68 90
------------------------------------------------------------- degrees
158.7 173.1 14.4 0.19 0.06 1.6 0.002 0.26 0.44
-------------------------------------------------------------
272.7 283.0 10.4 0.72 0.00 3.4 0.021 0.90 1.54
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K-128 No significant values Vertical
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- Copper and Gold Equivalent calculations use metal prices of US$1.75/lb for
copper, US$12/lb for molybdenum, US$700/oz for gold and US$12.50/oz for
silver and both assume metallurgical recoveries and net smelter returns of
100%. Copper (Cu) EQ equals Cu% + (Mo% x 12/1.75) + (Au g/t x 12.86/22.06)
+ (Ag g/t x 0.23/22.06). Gold (Au) EQ equals Au g/t + (Cu% x 38.60/22.5) +
(Mo% x 264.72/22.5) + (Ag g/t x 12.50/700).


Drill sections and a 3D model can be viewed at www.corebox.net or by following a link on the Company's website at www.serengetiresources.com. To view accompanying map, please click on the following link: http://media3.marketwire.com/docs/SIRdrillholes.jpg.

"These new intercepts greatly increase the potential of the South Zone at Kwanika," stated Serengeti's President & CEO, David Moore. "This drilling indicates that a near surface copper-molybdenum-gold-silver upper zone appears to increase in grade towards a west-bounding fault and is underlain, at least locally, by a significant lower copper-molybdenum-silver zone that remains open to depth. Follow-up drilling is planned in the current program to further test the significance of these zones," amplified Moore.

All of the holes reported on here were drilled testing extensions of the South Zone where prior drilling by Serengeti and by previous explorers has intersected mineralization along 1,800 meters of strike length. The average composite intercept of the fourteen holes drilled previously in the South Zone by Serengeti is 0.36% copper, 0.13 g/t gold, and 0.013% molybdenum over 82 meters. Four of the holes reported here were drilled along 375 meters of strike length on the west side of the South Zone; three of these intersected significant mineralization, with the fourth hole intersecting weaker mineralization. A fifth hole, K-128 was drilled off the north end of the zone and was not mineralized.

K-126: Intersected a 150.3 meter near surface interval grading 0.51% copper, 0.14 g/t gold, 2.7 g/t silver, 0.024% molybdenum (0.78% copper equivalent). This hole was drilled 200 meters west of prior hole K116 which intersected 0.39% copper, 0.10 g/t gold, 2.7 g/t silver, 0.013% molybdenum over 113.7 meters indicating continuity to the mineralized zone.

K-124: Collared 125 meters north of K-126 intersected what is interpreted to be a lower mineralized zone grading 0.44% copper, 0.05 g/t gold, 2.3 g/t silver, 0.019% molybdenum (0.63% copper equivalent) over 211.7 meters. This lower zone remains open at the bottom of the hole at 502 meters depth and is interpreted to be truncated to the west by a steep west-dipping fault. K-124 was subsequently deepened to a final depth of 642 meters and additional mineralization was observed in the hole to a depth of approximately 620 meters. Assays for this portion of the hole will be reported when available. An upper mineralized zone on this same section was intersected in previously reported hole K-110 and grades 0.27% copper, 0.26 g/t gold, 1.7 g/t silver and 0.007% molybdenum over 239.8 meters.

K-127, K-125: K-127 collared 125 meters north of K-124, intersected a 56.6 meter near surface interval grading 0.33% copper, 0.09 g/t gold, 2.2 g/t silver and 0.030% molybdenum (0.61% copper equivalent) including a 22.4 meter interval grading 0.45% copper, 0.13 g/t gold, 3.2 g/t silver and 0.061% molybdenum (0.98% copper equivalent) and indicates that the better grade zone remains open to the north. K-125 collared 110 m to the south of K-126, intersected several intervals of weaker mineralization and indicates that at least locally, the better grades encountered in K-126 diminish towards the south.

Elsewhere, drilling continues, testing regional targets at the south end of the Kwanika claim block after a break due to elevated forest fire risk. From here the drill will be moved to the Osilinka property, located 35 kilometers north of Kwanika. The planned drill program at Serengeti's Croy Bloom project, funded by Newcrest Mining, has been deferred for this year due to First Nations' access issues and the joint venture partner, Newcrest, has been granted an extension to allow time to resolve these issues.

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 coppergold project which contains an Indicated Mineral resource at a 0.25% copper equivalent cut-off of 183 million tonnes grading 0.29% copper, 0.28 g/t gold including a higher grade zone at a 0.4% copper equivalent cut-off of 75 million tonnes grading 0.41% copper and 0.42 g/t gold. 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 www.serengetiresources.com. Serengeti is well funded to advance its projects with a current working capital position of $9.7 million which includes a $2.3 million receivable from the B.C. government's METC program. The Company has currently completed approximately 60% of a recently expanded 8,500 meter summer drilling program.

Quality Assurance/Quality Control

Sample analysis for the current program was completed at Acme Labs in Vancouver, BC. A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards formed part of the sampling protocol in addition to the laboratory's own quality assurance program. Individual copper values exceeding 2,000 ppm, molybdenum values exceeding 1,000 ppm and gold values exceeding 100 ppb were assayed and these intervals combined with geochemical determinations on the balance of the samples, with all results reported in % and g/t respectively. This procedure will generally result in an understatement of the average grades. 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.

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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