Serengeti Resources Inc.

Serengeti Resources Inc.

November 15, 2005 08:30 ET

Serengeti Outlines 3 Large Drill-Ready Targets on Croy-Bloom Copper-Gold Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2005) - Serengeti Resources Inc. (TSX VENTURE:SIR) reports that a number of compelling targets have now been brought to the drill-ready stage on the Company's Croy-Bloom copper-gold property located in the northern portion of the 600 kilometer long Quesnel Trough, the largest copper-gold porphyry belt in Canada. Of particular importance are three specific areas which have been further outlined as a result of the recently completed ground induced polarization (IP) geophysical program. This work has in turn confirmed and greatly enhanced previously identified geochemical and airborne geophysical anomalies. Serengeti owns or has the right to earn a 100% interest in this property.

The Croy-Bloom property encompasses roughly 49 sq. km. and is located in north-central B.C. about 75 km. south of the Kemess Mine, which produces 300,000 ounces of gold and 75 million pounds of copper annually. The property is easily accessible and lies within two km. of a secondary spur from the Kemess Mine haul road. The recently completed geophysics has solidly confirmed the existence of one or more strong, potential sulphide systems, similar to those associated with virtually all porphyry copper-gold deposits. The best geophysical target identified thus far is the Bloom Cirque which is coincident with a four sq. km. copper-gold-cobalt geochemical anomaly. Assays from 150 mineralized rocks previously collected from this target area have a range from trace to 5.5% copper, 9.4 g/t gold, and 0.075% cobalt in grab samples. The better cobalt values are among the highest known reported from surface samples anywhere in the Quesnel Trough.

This new work, combined with prior surveying, has outlined a highly encouraging, IP geophysical anomalous trend measuring some 5 km. in length and up to 1 km. in width. This anomaly is open to the east, where additional targets are possible. Sampling of mineralized rocks elsewhere on the property in the course of the current program returned values up to 1.6% copper and 1.3 g/t gold and a large portion of the property has not yet been thoroughly sampled.

David Moore, President of Serengeti, stated: "We are very pleased with these recent IP geophysical results which have strongly enhanced several of the copper-gold targets on the property. The indicated size of the system is similar to that at Kemess South (about 4 km. long and up to 1 1/2 km. wide) and is more than sufficient to host a large porphyry copper-gold deposit. The presence of elevated cobalt values is also intriguing, given its current price of about $13 per pound. We now feel we have three compelling, high quality drill target areas on Croy-Bloom that are among the best we've seen in the Quesnel Trough."

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 where the Company controls 13 separate properties totaling over 340 sq. km. It is Serengeti's intention to seek joint venture participation in several of these projects.

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.

Serengeti also reports that it has granted stock options to a consultant to purchase up to a total of 50,000 common shares in the capital of the Company at a price of $0.15 per share. The options are exercisable for a two year period and are subject to certain vesting provisions.

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

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