Serengeti Resources Inc. (SIR: TSX-V) (“Serengeti” or “the Company”) is pleased to announce that Kwanika Copper Corporation (“KCC”), a private company jointly-owned by Serengeti Resources (65%) and POSCO DAEWOO Corporation (35%), has entered into an Exploration Agreement (the “Agreement”) with the Takla Lake First Nation (“Takla”). The Agreement establishes a mutually beneficial, cooperative and productive relationship whereby communication and collaboration between the Takla and KCC are held paramount, providing the parties certainty in their relationship throughout the advancement of the Kwanika project.
Chief of the Takla First Nation John French stated, “By using this model in the traditional lands of the Takla Nation, we have an agreement that gives certainty to the Takla and KCC. The Company can conduct its activities, and the Takla people know that our values and objectives are going to be respected. With this agreement between industry and the Takla, we bring our common interests together for mutual benefit.”
D. W. Moore, President & CEO of Serengeti and President of KCC stated, “We look forward to working closely with the Takla as we advance the Kwanika Project and will continue to build trust and respect with the First Nation through communication and continued involvement. Agreements such as this reduce uncertainty for both the Company and the First Nation community and represent a valuable step in the progression of any project.”
A field program designed to include the key Pre-Feasibility Study (“PFS”) data acquisition elements, including 8000 meters of drilling focused on the Central copper-gold zone, is scheduled to begin approximately June 15th. The PFS is being funded 100% by partner POSCO and is scheduled for completion in Q2, 2019.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo
President, CEO and Director
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.