News Releases
| March 31, 2008 Serengeti & Fjordland Expand QUEST Project; Complete Additional Airborne Surveys | |
| Vancouver, B.C., March 31, 2008 -- Serengeti Resources Inc (TSX-V: SIR) and its 50%-50% joint venture partner Fjordland Exploration Inc. (TSX-V: FEX) report that they have acquired by staking an additional four properties (Oy, Mil, Inz and Duk) and expanded one (Tezz), northwest of Fort St. James, as a result of the release of geophysical and geochemical data by Geoscience BC in January 2008 during the Mineral Exploration Roundup meeting in Vancouver. The QUEST joint venture project now consists of 20 copper-gold properties encompassing in excess of 115,000 hectares. All properties lie within the highly endowed and prospective Quesnel Terrane. As previously reported, (see News Release January 23, 2008), results from 6,624 line-kilometers of airborne magnetometer surveys over the initial 16 properties within the joint venture project area have led to the prioritization of 11 targets for follow-up ground induced polarization (IP) surveys. Permits have been received for fieldwork on these from the BC government and the IP surveying is scheduled to commence the first week of April. The initial joint venture budget for 2008 is $600,000 and includes approximately 120 line-kilometers of ground IP surveys, as well as an additional 600 line-kilometers of airborne magnetometer surveys completed in February and March 2008. David Moore, President & CEO of Serengeti, comments "We are very pleased to have identified numerous targets for follow-up ground surveying within the QUEST JV area of interest. Serengeti has discovered the significant Kwanika copper-gold deposit north of the QUEST area, in part as a result of drilling of airborne and ground geophysical surveys that identified new targets, especially in areas devoid of outcrop. We hope to utilize our expertise gained at Kwanika in the discovery of additional buried mineral deposits in this vastly under-explored region of the Quesnel Trough." On March 1, 2008, Fjordland assumed management of the QUEST project as stipulated in the Companies' joint venture agreement which provides for operatorship to rotate on an annual basis. About Serengeti 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. Additional information on Serengeti's projects can be found on the Company's website at www.serengetiresources.com . For further information, please contact: David W. Moore, President and CEO, Serengeti Resources Inc., 604-605-1300 Email: dmoore@serengetiresources.com Website: www.serengetiresources.com Investor Relations ph: 604-685-8184 / Email: info@serengetiresources.com The TSX Venture Exchange has neither approved nor disapproved the contents of this news release Cautionary Statement 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. | |
