Serengeti Encouraged by Regional Exploration Results


Serengeti Resources is pleased to report on exploration results from six projects, including reconnaissance drilling on two properties and drill target development on four other properties. Encouraging indications of gold mineralization have been obtained from drilling on one property and very attractive targets for future drilling identified on four other properties. Results from recent additional drilling on Serengeti’s flagship Kwanika property are expected to be available in several weeks and will be released when available.

Fleet Target

Serengeti recently consolidated by staking, a key claim in the centre of its Fleet property. The claims, located 50 km SE of the Kemess Mine, host several porphyry-style copper-molybdenum-gold showings. The most developed target is defined by a five by one kilometer, open ended area of geochemical and geophysical anomalies. Historical shallow drilling in the 1970’s intersected copper-molybdenum mineralization, including 0.18% copper over 55 meters in one hole and 0.24% copper over 15 meters in a second hole. Geophysical surveys by Serengeti in 2008 and by prior operators in the mid 1990’s identified an open-ended Induced Polarization (IP) anomaly immediately adjacent to these intercepts. This IP anomaly is located in a covered valley-bottom which has not been targeted by previous explorers. In addition, sampling by Serengeti in 2008 of quartz veins outcropping on a ridge south of this IP anomaly, returned values as high as 2.8% copper, 1.3 g/t gold from selected grab samples. This is a high quality, largely covered, copper-molybdenum-gold target and additional work is planned for the 2010 field season.

Osilinka Drilling

A reconnaissance drilling program was carried out on the Osilinka property located 35 kilometer NW of Kwanika in late August and early September. Six widely-spaced shallow diamond drill holes were drilled to test several targets within a two by three kilometer area of geochemical and geophysical anomalies. In the eastern portion of the target area, a fence of three widely spaced holes identified several intervals of anomalous gold and minor Cu mineralization associated with zones of favorable silica and potassic alteration. Intersections include 1.88 g/t gold over two meters and a separate interval of 0.21 g/t gold over 18 meters in one hole and 0.10 g/t gold over 23 meters in the second. Three holes drilled in the western portion of the target area intersected un-mineralized mafic intrusive rocks.

The Osilinka property covers a 13 kilometer-long, complex magnetic anomaly of which less than half has been explored to date. The presence of porphyry-style alteration and anomalous gold in reconnaissance drilling highlights the potential of the Osilinka property to host a significant porphyry gold-copper deposit and additional work is planned for the 2010 field season.

Tchentlo — Indata Area Drilling

A reconnaissance drilling program was carried out in the Tchentlo-Indata area on the southern half of the Kwanika property during August 2009. The drilling area was located 10-25 kilometers south of Serengeti’s Kwanika copper-gold deposit, in what is interpreted to be a similar geological environment. Six widely spaced shallow diamond drill holes were drilled to test a series of geochemical and geophysical targets. Two holes drilled in the northern part of the property intersected weakly altered felsic intrusives with trace amounts of molybdenite. Two holes in the central part of the property did not penetrate what is interpreted as post-mineral sedimentary rocks similar to those that cover the Kwanika copper-gold deposit, 20 kilometers to the north. Two drill holes located in the south-eastern portion of the property encountered a zone of intensely silicified mafic intrusive with minor base metal mineralization, possibly located peripheral to a porphyry system.

Choo West Target

Compilation of proprietary prior geophysical data purchased earlier this year (see NR 2009-06 dated May 11, 2009) has identified several attractive targets on the western portion of Choo property. The new targets comprise several bulls-eye IP and magnetic anomalies, one to two square kilometers in extent and show similarities to targets recently described by Terrane Metals from the Mt Milligan area, located thirty kilometers to the east. This new area of interest lies west of the road network being used to support the recent drill program at Choo; (see NR 2009-11 dated October 13, 2009) so a helicopter supported follow-up program is planned for 2010 to confirm these targets.

Germansen & Valleau Targets

Mobile metal ion (MMI) partial extraction geochemistry was completed this summer over several IP targets previously identified by Serengeti at the Germansen and Valleau properties located 12 and 20 kilometers east respectively of Serengeti’s Kwanika property. At Valleau, two “rabbit-ear” or double peaked copper-silver-zinc anomalies were identified flanking IP chargeability anomalies, representing a classic drill target. At Germansen a linear zone of enriched copper was identified associated with an IP anomaly. Additional geochemical areas of interest were also identified on both properties. These targets could rapidly be upgraded for drilling by a follow-up program in 2010.

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