NWST.V · 2019-04-18 12:00:00

Serengeti Announces Filing of Kwanika Technical Report and Provides Update on the Pre-Feasibility Study

Resource Estimates Technical Reports (NI 43-101)

NR: 2019-03

Serengeti Announces Filing of Kwanika Technical Report and Provides Update on

the Pre-Feasibility Study

Vancouver, B.C., April 18, 2019, Serengeti Resources Inc. (SIR: TSX-V) is pleased to announce that it has filed on

SEDAR the NI 43 -101 Technical Report for the Kwanika Project; Resource Estimate Update 2019. The mineral

resource estimate was previously announced March 3 rd, 2019 . A copy of the report is also available on Serengeti’s

website. The Kwanika Project is controlled by Kwanika Copper Corporation (“KCC”), a private company jointly owned

by Serengeti Resources Inc. (65%) and Posco International Corporation (35%).

Pre-Feasibility Study Update

Serengeti’s pre -feasibility study (PFS) is targeting a proposed open -pit and bulk underground copper -gold mine at

Kwanika and is scheduled for completion in early Q3, 2019. The current status of the PFS is outlined briefly below.

Mine Design

The independent mining engineering consultants are currently working on the open pit design, incorporating

geotechnical data from the 2018 drill program into the detailed design work. A trade -off study has established the

optimal bottom limit of the open -pit relative to the top of the proposed block cave underground mine, and a preliminary

assessment of the nature and extent of any subsidence from the block cave operation is also underway. The

underground ore transportation study is also well advanced and near completion.

Metallurgical Test Work

Metallurgical test work on copper-gold mineralized core samples has focused on comminution via SAG mill simulation

and Bond Work Index testing, which has demonstrated that the ore is medium hardness and only moderately abrasive .

Flotation test work on three composite samples from the areas of the proposed open pit and underground block cave

has focused to date on process condition optimization , and open-cycle testing ; work continues and will be reported

when definitive results are available.

Infrastructure

The project’s infrastructure requirements are a crucial aspect of the PFS. The Company has held positive preliminary

discussions with the owners of the nearest grid-connected powerline. To access the project, the use of existing forestry

service roads is feasible, requiring only modest local upgrading.

Waste Rock and Water Management

Preliminary design of the preferred tailings storage site is underway. The consultants have completed geochemical

testing of the potential waste rock ty pes. The results will be used to design the appropriate waste rock storage facilities

at a site adjacent to the mine. Surface water management concepts will be developed once the waste rock

management scheme has been set out.

Environmental Baseline Studies

Data from a baseline program initiated in 2018, consisting of surface and groundwater hydrology and water quality

studies, fish and benthic studies, terrain and ecosystem mapping has been integrated in to project planning. A

continuation of hydrology, water quality and climate programs is planned for 2019. The Takla Nation, our First Nations

partner at Kwanika, has been involved in the collection of environmental data, associated with the baseline program.

The Company will provide additional updates as the study progresses.

Qualified Persons

Resource Statement

In accordance with National Instrument 43 -101 Standards of Disclosure for Mineral Projects , the Independent and

Qualified Persons for the Kwanika Technical Report are as follows: 1) Central Zone mineral resource update; Sue Bird,

P. Eng., of Moose Mountain Technical Services ( Cranbrook, British Columbia ) who has reviewed, validated and

Serengeti Resources Inc.

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approved the Resource Estimate Update for the Central Zone of the Kwanika Project ; 2) Marek Nowak, P. Eng. of SRK

Consulting Inc. (Vancouver) who has reviewed, validated and approved the restatement of the South Zone resource on

the property which was previously reporte d on October 14, 2016 ; 3) Tracey Meintjes, P. Eng., of Moose Mount ain

Technical Services (Cranbrook, British Columbia) who reviewed the metallurgical aspects of the current report.