September 24, 2008
Serengeti and Fjordland Identify Six Priority IP Targets for Follow-Up on Their QUEST Project
Serengeti Resources Inc. (TSX VENTURE: SIR) and its 50%-50% joint venture partner, Fjordland Exploration Inc. (TSX VENTURE: FEX) are pleased to report that they have selected six priority target properties (Q, ST, MP, Copper, Ping and Mil) from their recently completed 110-line kilometer reconnaissance induced polarization (IP) surveys under their QUEST project for follow-up work. The IP surveys were conducted over nine selected target properties, based on a thorough review of the results of airborne magnetic surveys completed by the Joint Venture during 2007-2008 and of airborne electromagnetic and gravity surveys completed by Geoscience BC during 2007. The target properties lie within the QUEST JV project, that currently comprise 27 copper-gold properties totaling 144,000 hectares, lying between Quesnel and Fort St. James, BC.
David Moore, President & CEO of Serengeti, comments, "We are very pleased to have identified six high-quality induced polarization anomalies with chargeability highs indicating the possible presence of sulphides on these six properties within our QUEST project area. Our systematic approach to exploring this vastly under-explored portion of the Quesnel Trough is moving us one step closer to selecting drill targets to test for buried porphyry copper-gold deposits. The significant mine expansions at Taseko Mines' Gibraltar mine, the record production and continued good exploration success at Imperial Metals' Mount Polley mine, the proposed mine development plans for Terrane Metals' Mt. Milligan deposit, and Serengeti's pending resource calculation at our Kwanika copper-gold deposit are a testament to the mineral potential of the region."
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. Serengeti is well funded to advance its projects with a working capital position of C$10 million.
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.
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact here-in, including, without limitation, statements regarding exploration results and 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.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Contacts: Serengeti Resources Inc. David W. Moore President and CEO (604) 605-1300 (604) 899-1240 (FAX) Email: [email protected] Serengeti Resources Inc. Investor Relations (604) 685-8184 Email: [email protected] Website: www.serengetiresources.com
SOURCE: Serengeti Resources Inc.