Serengeti Announces Completion of Oversubscribed Equity Financing

NR: 2017-07

Serengeti Announces Completion of

Oversubscribed Equity Financing

Vancouver, B.C., July 25, 2017: Serengeti Resources Inc. (SIR:TSX -V) announces that it has now closed its non

brokered private placement financing first announced July 10, 2017. The Company originally announced it would

raise gross proceeds of up to CDN $ 750,000 (the “Offering”), but due to overwhelming interest, the Company agreed

to increase the Offering from 5,000,000 flow through common shares at $0.15 to 5,502,000 flow through common

shares at $0.15, raising gross proceeds of $825,300

The securities issued by the Company in this financing are subject to a statutory hold period which expires on

November 26, 2017.

Finders’ fees totaling $ 20,370 in cash and 135,800 Finder’s Warrants were paid in respect of certain subscribers

incidental to the financing in accordance with the policies of the TSX -V. The finder’s warrant s are exercisable at a

price of $0.15 for a period of 18months from closing.

Proceeds of the Offering wil l be used for continued exploration and drilling on a number of the Company’s properties

in B.C., such as Milligan West and the UDS Properties, which are outside of the Kwanika project being funded by

Daewoo Minerals Canada ("Daewoo"). Daewoo currently ho lds a 5% interest in the Kwanika property and may earn

an additional 30% interest in the project, by electing on or before July 27, 2017 to fund an additional $7 million over

the next two year period.

About Serengeti Resources Inc.

Serengeti is a miner al 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 and exploring

its extensive portfolio of properties in the highly p rospective Quesnel Trough of British Columbia. A number of these

projects are available for option -joint venture and a dditional information can be found on the Company’s website at

www.serengetiresources.com. Subsequent to this financing, Serengeti has 84.2 million shares issued and

outstanding or 99.6 million shares on a fully diluted basis.

ON BEHALF OF THE BOARD

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

Cautionary Statement

This document con tains “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 p lans and

other future pla ns 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 th ose

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 reg ulatory agencies to whose policies we are bound. 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 accur acy of this

release.

For further information, please contact:

Investor Relations: Paradox Public Relations Tel: 514-341-0408 Toll free (in North America) 1-866-460-0408

Email [email protected]

Serengeti Resources Inc. Suite 502 – 800 West Pender St, Vancouver, BC V6C 2V6

Tel: 604-605-1300 Email: [email protected] Website: www.serengetiresources.com