News Releases
| June 08, 2009 Serengeti Announces Larger Summer Drilling Program on Kwanika and High Priority Regional Targets | ||||||||||||||||||||||||||||||||||||||||||||||
| Vancouver, B.C., June 08, 2009: Serengeti Resources Inc. (SIR: TSX-V) has increased its exploration budget for this summer's drilling program, now scheduled to start at the Company's 100% owned Kwanika copper-gold property on or about June 20th. The budget for the summer program has been increased by 20% to $3.1 million, and this, together with lower prices for 2009 project work, will enable Serengeti to drill approximately 6,750 meters in 27 holes, testing nine exploration targets across four properties. In addition, joint venture partner Newcrest Mining BC Limited has received approved work permits for a separate 2,400 meter drill program on Serengeti's Croy Bloom property. The following table summarizes the number of holes, meters and targets on each property.
The drilling program will start on the Kwanika property where approximately half of the program will test:
The balance of the drill program funded by Serengeti is as follows:
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 gold and copper 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. Serengeti is well funded to advance its projects with a current working capital position of approximately $8.6 million and a 2009 budget of $3.1 million which includes more than 6,750 meters of planned drilling scheduled to start in June. Furthermore, the Company expects to receive a refund of approximately $2.5 million from the B.C. government's METC program, which amount is not currently included in the working capital position indicated above. David W. Moore, President and CEO, Serengeti Resources Inc., 604-605-1300 Email: Website: www.serengetiresources.com Investor Relations: ph 604-685-8184 / Email: 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 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. Readers are advised not to place undue reliance on forward-looking statements. | ||||||||||||||||||||||||||||||||||||||||||||||

