Serengeti Resources Reports Regional Exploration Results from 2018: Including 57% Cu and 670 g/t Ag from Arjay, British Columbia

NR: 2018-20

Serengeti Resources Reports Regional Exploration Results from 2018: Including

57% Cu and 670 g/t Ag from Arjay, British Columbia

Vancouver, B.C., November 29, 2018. Serengeti Resources Inc. (SIR: TSX -V) ("Serengeti" or "the Company") is

pleased to report results from field work completed on eight of the Company’s wholly -owned early-stage exploration

properties staked earlier in 2018 . Following release of the Geoscience BC Search III survey data in January 2018,

Serengeti staked the properties based on magnetic and radiometric data as well as a detailed compilation of government-

available geological and geochemical information. See the news release dated March 1st, 2018 for details on Serengeti’s

Search III projects.

“Results of 2018 field work are encouraging and show a good return for these early-stage, low-cost acquisitions. Three of

the eight properties staked earlier this year definitely warrant further work which we plan to carry out in 2019”, stated

Serengeti President & CEO, David W. Moore.

Arjay Porphyry Cu-Au

The Arjay property is located approximately 45 kilometres south-southeast of Centerra Gold’s Kemess project within the

Omineca region of north -central British Columbia. The property occurs within a wedge of basaltic rocks of the Upper

Triassic Takla Group intruded by Early Jurassic quartz -diorite plutons. Reconnaissance mapping and sampling yielded

encouraging results, including three samples with locally highly elevated copper and silver from a quartz – copper-

sulphide-oxide vein stockwork zone host ed within hematized mafic agglomerates of the upper Takla Group , likely

representing the Takla – Hazelton unconformity zone . A disrupted highly magnetic zone occurs at Arjay which may

represent hydrothermal alteration of magnetite -bearing volcanic host rocks, possibly associated with the observed

mineralization.

Table 1: 2018 Arjay Rock Grab Sample Highlights

Sample Type SampleID Cu (%) Ag (g/t) Lithology/Details

Outcrop/Grab CG070 57.34* 671.8* Quartz – copper sulphide-oxide stockwork

zone over 250 metre strike length, one

metre in width within red hematite boulder

agglomerate.

Outcrop/Grab CG077 13.36 61.9

Outcrop/Grab CG074 5.02 48.2

* Grades reported in selected samples from surface outcrop do not necessarily represent grades that may eventually be obtained

from within an overall mineralized body.

East Niv Porphyry Cu-Au

The East Niv property lies along the boundary between the Upper Triassic Takla and Early Jurassic Hazelton Group s

approximately 15 kilometres northwest of the Sustut Copper developed prospect and surrounding claims now owned by

Freeport-McMoRan Inc. Geological mapping and sampling at East Niv in 2018 discovered a quartz-sericite-pyrite (“QSP”)

alteration zone within a feldspar porphyry intrusive hosted by mafic flows of the Takla Group. The QSP zone covers an

area approximately 1000 metres east – west and 1,200 metres north – south, which was subsequently staked by Serengeti

following the field program. Stream sediment values from creeks draining the QSP zone yielded up to 953 ppm copper. A

prior limited Induced-Polarization survey completed over the East Niv property in 2011 identified a strong coincident

chargeability and resistivity anomaly within Takla Group rocks immediately below the Hazelton – Takla unconformity in

the vicinity of the QSP zone. The QSP zone is worthy of detailed follow -up considering the potential association with

copper mineralization.

Serengeti Resources Inc.

TrUM Ultramafic-hosted Ni-Co

TrUM occurs within an area that has not had any previous exploration for ultramafic-hosted nickel-cobalt systems despite

permissive geological features. The property lies approximately 65 kilometres northwest of the Kwanika property within

ultramafic cumulates of Upper Triassic age. Outcrop grab and stream sediment sampling from the 2018 program yielded

anomalous nickel, chromium and cobalt values associated with cumulate-textured ultramafic flows. Serengeti is currently

completing further mineralogical test work to determine the nature of nickel and cobalt speciation. The TrUM property was

staked based on highly anomalous nickel and cobalt geochemical values draining a prominent Late Paleozoic to Triassic

ultramafic plug highlighted by the Search III magnetic dataset.

Table 2: 2018 TrUM Rock Grab Sample Highlights

Sample Type SampleID Ni (%) Cr (%) Co (ppm) Lithology/Details

Outcrop/Grab QH017 0.19 0.13 122 Ultramafic cumulate flow

Outcrop/Grab QH020 0.18 0.08 112 Banded ultramafic magnetite cumulate

flow

Outcrop/Grab QH021 0.18 0.10 88 Banded ultramafic magnetite cumulate

flow

Table 3: Serengeti Resources – 2018 Regional Exploration Highlights

Property Area

(Ha) 2018 Summary / Staking Rationale 2018 Exploration Results

Arjay 1,212

Strong copper mineralization within quartz-

stockwork zone hosted by boulder

agglomerates near possible Takla –

Hazelton unconformity. Strong magnetic

anomaly with associated stream sediment

copper anomalies.

57.34% Cu

13.36% Cu

5.02% Cu

Copper in

Rock Grab

Samples from

quartz-

sulphide-

oxide

stockwork

East Niv 1,707

Identified QSP alteration zone near Takla –

Hazelton unconformity. Strong magnetic

anomaly with historical Induced-Polarization

chargeability/resistivity anomaly.

963 ppm Cu in

stream sediment

Identified

QSP-altered

intrusive

TrUM 706

Ultramafic cumulates associated with

anomalous Ni, Co, Cr in rock outcrop and

stream sediment samples. Strong magnetic

response.

0.19% Ni

0.13% Cr

122 ppm Co

Anomalous

Ni, Cr, Co in

grab and

stream

sediment

samples.

Additional

speciation

test work

underway

Far East -

LaForce 775

Coincident magnetic/radiometric anomaly in

valley with anomalous copper-silver stream

sediment results.

1.08 g/t Ag

317 ppm Cu

Stream

sediment

sampling

ET West 522

Notable defined magnetic response with

strong stream sediment copper anomaly

within Hogem Intrusive Suite.

0.38% Cu

0.126 g/t Au

Diorite talus

float sample

Maps and figures of Serengeti’s Search III properties can be viewed here.

Serengeti Resources Inc.

About Serengeti Resources Inc.

Serengeti is a mineral 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 in partnership with POSCO

DAEWOO Corporation and exploring its extensive portfolio of properties in north -central British Columbia. A number of

these other projects are available for option or joint venture and additional information can be found on the Company’s

website at www.serengetiresources.com.

Quality Assurance/Quality Control

Sample analysis for the 2018 exploration programs were completed at Bureau Veritas Minerals Laboratory in Vancouver,

BC, which is ISO 9001:2015 and 17025 accredited. Copper, nickel, chromium, cobalt and silver analyses were determined

by AQ 270 which is a combined ICP-ES/MS method following Aqua-Regia digestion and is capable of determining up to

100,000 ppm Cu and 1,000 ppm Ag; Au was determined by FA430, a lead collection , Fire Assay/AAS method using a

30-gram sub-sample and has an upper detection limit of 10 ppm Au. Copper over limit analysis was completed by Bureau

Veritas method GC820 Cu titration with detection limits from 0.01 – 100% Cu. The field program was supervised by

Serengeti Resources Inc. staff and the technical information in this news release has been prepared in accordance with

Canadian regulatory requirements as set out in National Instrument 43 -101, and reviewed by the Company’s qu alified

person, David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc , who has supervised the preparation

of and approved, the scientific and technical information in this news release.

ON BEHALF OF THE BOARD

David W. Moore, P. Geo.

President, CEO and Director

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 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 regulatory agencies to whose policies

we are bound. Forward -looking statements are based on the estimates and opinions of management on the date the statements are

made, and we do not undertake any obligation to update forward -looking statements should conditions or our estimates change, other

than as required by law and readers are further advised not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts respons ibility for the adequacy or accuracy of this

release.

For further information, please contact:

Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6

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