Kwanika Copper Corp and Serengeti Announce Initial Metallurgical Test Results from Kwanika Project

VANCOUVER, May 15, 2019 - Serengeti Resources Inc. (SIR: TSX-V) announces the results of the first of a number of metallurgical tests being conducted on samples from the Kwanika Project which is controlled by Kwanika Copper Corporation (“KCC”), a private company jointly owned by Serengeti Resources Inc. (65%) and Posco International Corporation (35%). This test work is continuing, and full results will be released in the Pre-Feasibility Study scheduled for completion in Q3, 2019.

The metallurgical test program is being conducted to investigate metallurgical performances of various mineral samples to a conventional flowsheet. The locked cycle test (LCT) results show that the sample constructed from the proposed open pit area responded well to the conventional processing flowsheet tested. On average, approximately 88.3% of the copper and 73.5% of the gold are recovered into a Cu-Au concentrate containing approximately 25.1% Cu and 23.4 g/t Au. Impurity levels of the concentrate are low.

The processing flowsheet includes rougher and scavenger flotation followed by regrinding of the rougher concentrate and four stages of cleaner flotation. The primary grind size was targeted at 80% passing 75μ. A number of samples are being tested in the program including:

• Three composite samples, representing the proposed open pit, west underground area and east underground area comprised of coarse assay reject material from the 2018 drill program.
• Approximately 15 variability samples, representing various head grade, spatial location and lithological variations and sample type, including coarse assay rejects vs drill core.

The pair of test results from duplicate samples from the open pit composite sample are summarized in the table below.

The Au-Cu concentrate produced from the LCT 1 test was assayed for main impurities which may affect concentrate quality. The assay indicates that in general the impurity levels of the concentrate are low. Most of the impurity levels are expected to be much lower than the penalty thresholds specified by most of the smelters, excluding fluorine which may be close or slightly higher than the requirement of some smelters.

Main Impurity Content of Cu-Au Concentrate

The test work is ongoing on the two underground master composite samples and the variability test samples. In general, the two underground samples show similar metallurgical responses when they are tested using batch open circuit test procedure. The LCT tests have been arranged to verify the metallurgical performances of the two underground composite samples.

Qualified Persons

The metallurgical test work is being conducted by Metallurgical Division, Bureau Veritas Commodities Canada Ltd., located in Richmond, British Columbia and supervised by Dr. John Huang, a Senior Metallurgist with Tetra Tech Canada Inc. 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. who has supervised the preparation of and approved the scientific and technical information in this news release.

ON BEHALF OF THE BOARD

David W. Moore, P. Geo.
President, CEO and Director

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 Posco International and exploring its extensive portfolio of properties in north-central 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.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:
Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6
Tel: 604-605-1300 / Email: info@serengetiresources.com / Website: www.serengetiresources.com