Serengeti Resources Inc.

Serengeti Resources Inc.

January 19, 2006 08:30 ET

Serengeti's 2005 Annual Project Review

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR) is pleased to provide a review and summary of project activities for the year 2005. Major progress was made on several of the Company's Quesnel Trough properties, including advancing five of the best projects to the drill ready stage. The Quesnel Trough is Canada's largest porphyry copper-gold belt, stretching more than 600 km. from the Mt. Polley deposit in the south to the Kemess mine (300,000 oz./yr. gold, 75 million lbs./yr. copper) in the north. The Quesnel Trough and its extensions host over a dozen copper-gold deposits, and Serengeti owns 12 separate properties totaling over 300 sq. km. along this belt. Listed below are some highlights of the progress on several of these properties.

A. Kwanika Property:

- Completed airborne magnetic and radiometric geophysical survey and
ground geochemical sampling.
- Identified six new target zones.
- Discovered a large anomaly potentially indicative of a large
porphyry system.
- Obtained grab samples up to 0.69% copper, 0.20 g/t gold.
- Determined similar geophysical signature to other copper-gold
deposits located in Quesnel Trough.
- Known mineralized zone is open in two directions and to depth.
- Has transitional Cu-Au-Mo characteristics, similar to some the
world's largest porphyry deposits.

B. Davie Creek Property:

- Completed ground geophysical (induced polarization, magnetics) and
geochemical programs.
- Outlined a 35% increase in the size of the system.
- Identified a potential mineralized zone 600 meters wide over an
indicated strike length exceeding 3.0 km.
- Best prior drill hole grades 203 meters of .073% molybdenum.
- Re-assaying of one prior drill hole yielded 10% higher grade.
- High molybdenum values make property a primary molybdenum prospect.
- Confirmed several property similarities to the well known Endako
Mine, Canada's largest and only primary molybdenum producer.

C. Croy-Bloom Property:

- Completed ground geophysical program (induced polarization,
- Outlined three large drill-ready targets.
- Identified strong potential sulphide systems similar to most
porphyry copper-gold deposits.
- Outlined geophysical target (Bloom Cirque) mirroring 4 sq. km.
copper-gold-cobalt geochemical anomaly.
- Enhanced several other copper-gold targets on property.
- Previous rock sample assays from trace to 5.5% copper, 9.4 g/t
gold, and .075% cobalt.
- Cobalt surface grab sample assays among highest known reported in
the Quesnel Trough.

D. Tchentlo Property:

- Completed ground geophysical program (induced polarization,
- Identified three highly prospective porphyry copper-gold target
- Confirmed all are on large-scale cross trending structures typical
of many large copper-gold deposits.
- Suggested presence of sulphide systems associated with most
porphyry copper-gold deposits.
- Outlined principal overall target area measuring about 3.5 km. by
2.5 km.
- Previous rock sample assays from trace to 0.97% copper and 0.98 g/t
- Large land position yet to be explored.

E. Germansen Property:

- Completed airborne magnetic and radiometric geophysical survey.
- Confirmed existence of two large multi-parameter copper-gold target
- Outlined Target 1 covering an area 1.4 km. long by 0.6 km. wide.
- Target 1 was defined by six separate parameters indicating the
existence of a major copper-gold anomaly.
- Outlined Target 2 covering an area about 1.2 km. by 0.5 km.,
defined by five separate parameters.

In addition to the above, the Company controls 7 other properties in the Quesnel Trough which were staked or worked on during the year. All of these properties were acquired for their copper-gold prospectivity. They are in various stages of exploration and management is encouraged by their potential.

During the year Serengeti also drilled eight holes on the Tide property in partnership with Rimfire Minerals Corp. Although this work yielded mixed results, the Company continues to believe that the property has substantial merit and the earn-in option has been maintained. The 2005 program did outline a 2.1 by 0.5 km. gold anomaly, only a small part of which has been tested. The Company is currently evaluating alternatives for advancing the project.

David Moore, President of Serengeti, stated: "We are pleased with the progress we have made during the year on a number of our properties in the Quesnel Trough, including five to the drill-ready stage. We look forward to advancing these projects further in 2006, either through joint venture partnerships or by other means to further increase shareholder value."

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

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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