Serengeti Announces Drill Mobilization to Milligan West Property & Annual General Meeting Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 6, 2017) - Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) and partner Fjordland Exploration Inc. (TSX VENTURE:FEX) announce the completion of a drill access road and mobilization of a drill rig to the partners Milligan West Property. Drilling will include testing a very strong induced polarization (IP) geophysical anomaly identified on the Milligan West property, located four kilometers west of the currently producing Mt. Milligan Mine owned by Centerra Gold Inc. The partners view this target as having the size and intensity to host a potentially significant sulphide system at a moderate depth. The anomaly remains open to the west for expansion and is a high priority for drill testing. Three holes, totalling 1200 meters are planned as an initial test and the program may be expanded dependent on drilling progress and results.
Please see the Milligan West property section of Company's website to view images of the location maps and IP profiles of the target area (https://www.serengetiresources.com/projects/milligan-west/).
The Milligan West property is owned 56.3% by Serengeti and 43.7% by Fjordland Exploration Inc. and is part of Serengeti's prospective pipeline of properties that the Company believes has the potential to add significant value for its shareholders. The Milligan West drill program is one of three planned by Serengeti this year, the others being the first ever drill program on a high priority target on the UDS property and Pre-Feasibility drilling on the Company's flagship Kwanika Copper Gold Project.
2017 Annual General Meeting
In addition, the Company announces the results of its Annual General held Thursday August 31st, 2017 in Vancouver, British Columbia.
A total of 32,633,615 common shares of the 85,240,821 common shares outstanding were voted, representing 38.28% of the issued and outstanding common shares of Serengeti. Shareholders voted in favour of all items of business before the meeting including the election of all the directors as follows:
| Nominee | Votes in Favour | % | Votes Withheld | % |
| David W. Moore | 32,631,615 | 99.99 | 2000 | 0.01 |
| Ian D. Brown | 32,631,615 | 99.99 | 2000 | 0.01 |
| Lewis V. Lawrick | 32,631,615 | 99.99 | 2000 | 0.01 |
| George D. Tikkanen | 32,631,615 | 99.99 | 2000 | 0.01 |
Other resolutions passed unanimous at the meeting were the re-appointment of DeVisser Gray, LLP, Chartered Accountants as Auditors of the Company for the ensuing and authorizing the Directors to fix their remuneration.
About Serengeti Resources Inc.
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is currently advancing its Kwanika copper-gold project in partnership with Daewoo Minerals Canada and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. A number of these other projects are available for option or joint venture and additional information can be found on the Company's website at www.serengetiresources.com.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo., President, CEO and Director
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 as well as a comprehensive list of risk factors 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. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates change, other than as required by law and readers are further advised not to place undue reliance on forward-looking statements. The information in this News Release related to the Kwanika Copper/Gold Project was derived from the PEA. Statements pertaining to projected revenues and cash flows, quantity and grade of mineralized materials, estimated mineral prices are forward-looking statements. The Company cautions that this PEA is preliminary in nature, and is based on technical and economic assumptions which will be evaluated in further studies. The PEA is based on the current (as at January 2017) Kwanika estimated resource model, which consists of material in both the indicated and inferred classifications. Inferred mineral resources are considered too speculative geologically to have technical and economic considerations applied to them. The current basis of project information is not sufficient to convert the mineral resources to mineral reserves, and mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly, there can be no certainty that the results estimated in the PEA will be realized.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact
Investor Relations:
Paradox Public Relations
514-341-0408
Toll free (in North America) 1-866-460-0408
info@paradox-pr.ca
Serengeti Resources Inc.
604-605-1300
info@serengetiresources.com
www.serengetiresources.com
