Serengeti Grants Incentive Stock Options
500-602 West Hastings Street Vancouver, British Columbia Canada V6B 1P2 Telephone: (604) 605-1300 Facsimile: (604) 899-1240 email: [email protected] www.serengetiresources.com
SIR: TSX-V NR: 2010-02
Serengeti Grants Incentive Stock Options
Vancouver, B.C., February 12, 2010: Serengeti Resources Inc. (TSX-V: SIR) wishes to announce that it has awarded a total of 1,050,000 incentive stock options to directors, officers, consultants and employees of the Company, exercisable at $0.30 for a period of five years from the date of grant. These options are granted subject to the Company’s Stock Option Plan, which contains vesting provisions such that 25% of the options are available upon the date of grant and 25% become available every six months thereafter.
About Serengeti
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of discovery. The Company is focused on the advancement of its Kwanika copper-gold project located in the Quesnel Trough of British Columbia where a significant expansion drill program is planned in 2010. Additional information on Serengeti’s projects can be found on the Company’s website at www.serengetiresources.com. Drill sections for Kwanika can be viewed at www.corebox.net/properties/kwanika. Serengeti is well funded to advance its projects with a current working capital position of approximately $8.2 million which includes $2.2 million receivable from the B.C. government’s METC program. Serengeti has 46.0 million shares issued and outstanding or 52.8 million shares on a fully diluted basis, including the current grant.
For further information, please contact:
David W. Moore, President and CEO, Serengeti Resources Inc., 604-605-1300 Email: [email protected] Website: www.serengetiresources.com Investor Relations: ph 604-685-8184 / Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.