Mr. David Moore reports

SERENGETI DRILLS 2.0 G/T AU EQ (0.71%CU, 0.83 G/T AU) OVER 438 METRES AT KWANIKA CENTRAL ZONE; EXPANDS FOOTPRINT OF MINERALIZED SYSTEM TO THE NORTH AND TO DEPTH

Serengeti Resources Inc. has released the results of a recently completed drilling program on its Kwanika copper-gold resource-stage project located in the Quesnel trough of British Columbia. Three holes were completed totalling 2,446 metres, and included an intercept of 438 metres grading 0.71 per cent copper and 0.83 gram per tonne gold within the Kwanika central zone resource shell. The second hole intersected a broad, gold anomalous interval within highly altered andesites potentially lying above a separate buried mineralized centre, approximately 500 metres to the north. The third and deepest hole essentially ended in copper-gold mineralization on the northwest edge of the central zone, indicating the system appears to be increasing in grade and remains open to depth in this direction.

Drill hole K-177 was designed to test: (a) the up-dip and down-dip edges of the central zone, (b) test for lateral continuity of the monzonite-hosted, supergene-enriched copper zone that caps the deposit, and (c) assist in resource modelling and future definition drilling of the central zone. K-177 met all these objectives and encountered some of the highest grades intersected in the zone to date, for instance: 19.04 per cent copper and 6.52 grams per tonne gold over 3.6 metres within a 233.6-metre interval grading 1.18 per cent Cu and 1.3 grams per tonne Au. "This is an exceptional hole, one of the best we have drilled at Kwanika and demonstrates the very high copper-gold grades present within the central zone. Because it was drilled perpendicularly to virtually all the other holes in the deposit, it also provides a host of new geological information," stated Serengeti president and chief executive officer David W. Moore.

                KWANIKA DRILL PROGRAM -- REPORTED ANALYTICAL RESULTS 2016         
                                                                             
                                      Interval       Cu      Au        Ag     AuEq      CuEq
Hole              From (m)   To (m)         (m)      (%)   (g/t)     (g/t)    (g/t)       (%)

K-177               160.0    598.4       438.4     0.71    0.83       2.0     2.00      1.25
          Including 216.5    450.0       233.6     1.18    1.30       3.2     3.24      2.02
          Including 270.5    274.1         3.6    19.04    6.52      36.7    37.61     23.47
                And 300.0    346.2        46.2     0.83    2.77       2.5     4.15      2.59
                And 370.3    407.0        36.8     0.83    2.12       2.8     3.49      2.18
                    598.4    719.0       120.7     0.06    0.12       0.2     0.21      0.13

Drill hole K-178 tested a large deep IP (induced polarization) chargeability anomaly approximately 500 metres north of the central zone and intersected a broad interval of strongly anomalous gold values within intensely altered andesitic volcanic rocks interpreted to lie above a potentially new mineralized centre, lying within a separate structural block from that hosting the central zone. "The gold values in particular are similar to those seen immediately adjacent to the central zone in K-177, and along with the local, strong biotitic (potassic) and silica-pyrite alteration noted in K-178, indicate that we may still be above a potentially high-grade mineralized monzonite occurring at greater depth. This hole has provided a strong vector from prior shallower holes in the vicinity and suggests that additional deep holes are warranted testing this target," stated Mr. Moore.

                                      Interval       Cu      Au        Ag     AuEq      CuEq
Hole              From (m)   To (m)         (m)      (%)   (g/t)     (g/t)    (g/t)       (%)

K-178               335.2    580.5       245.3     0.06    0.11       0.7     0.23      0.14
          Including 372.0    388.6        16.6     0.17    0.12       2.2     0.44      0.28
               And  502.1    526.8        24.7     0.06    0.27       1.2     0.40      0.25
K-179               521.0    755.8       234.8     0.17    0.15       0.7     0.44      0.27
          Including 639.6    651.0        11.4     0.58    0.41       1.6     1.37      0.85

                    804.0    820.0        16.0     0.20    0.19       0.9     0.53      0.33
                    844.5    903.3        58.7     0.26    0.29       1.2     0.73      0.45

Intercept lengths are not necessarily true widths as they cannot be determined at this time.
Copper and gold equivalent calculations use the following metal prices: $2.80 (U.S.) per
pound for copper, $1,200 (U.S.) per ounce for gold and $18 (U.S.) per ounce for silver, and
assume metallurgical recoveries and net smelter returns of 100 per cent. CuEq equals Cu per
cent plus (Au grams per tonne times price of one gram Au divided by price 1 per cent Cu)
plus Ag grams per tonne times price of one gram Ag divided by price of 1 per cent Cu), or
CuEq equals Cu per cent plus (Au grams per tonne times 0.625) plus (Ag grams per tonne times
0.0094). AuEq equals Au grams per tonne plus (Cu per cent times price of 1 per cent Cu
divided by price of one gram per tonne Au) plus (Ag grams per tonne times price of one gram
per tonne Ag divided by  price of one gram per tonne Au), or AuEq equals Au grams per tonne
plus (Cu per cent times 1.6) plus (Ag grams per tonne times 0.0165).     

K-179, the final and deepest hole of the program, tested the open down-dip northwest edge of the central zone. After traversing a section of Cretaceous cover rock that preserves the supergene copper zone elsewhere in the deposit, the hole cut a long interval of increasingly altered andesitic volcanics with a long interval of increasing copper-gold mineralization at its lower contact with the underlying monzonite. An interval of 0.26 per cent Cu and 0.29 gram per tonne Au over 58 metres at the bottom of the hole indicates that the system remains open, and appears to be increasing in grade to depth. The bottom of this current hole lies 75 metres to 100 metres laterally from and well below the two nearest pre-existing holes. "It is clear that this hole needs to be drilled deeper, perhaps as much as 300 metres to 400 metres, and, had we not been at the limit of the drilling budget, we would have done so," stated Mr. Moore. "We've left the casing in this hole, and our first recommendation for the next program will be to deepen this hole and consider drilling some wedge cuts from it.

"We view the 2016 drill program as a great success and look forward to seeing these significant new drilling results, along with our new geological interpretations and modelling parameters, incorporated into the revised resource estimate, which will focus on the heart of the central zone. This work is under way, and, as previously indicated, results from this independent study being conducted by SRK should be available early in calendar fourth quarter," stated Mr. Moore.

All of the work outlined above is being financed by Daewoo Minerals Canada in a deal finalized on April 6 (see NR-2016-03), whereby the partner will earn a 5-per-cent project interest by paying Serengeti $400,000 (paid) and spending $800,000 on the project in the first year. Daewoo may earn an additional 30-per-cent interest in the project by spending an additional $7-million over the following two years for aggregate expenditures of $8.2-million to earn a 35-per-cent project interest. Serengeti remains as project operator and is entitled to charge a 10-per-cent operator fee on expenditures beyond the initial $1.2-million. Serengeti also maintains the right to enter into precious metal streaming transactions subject to certain off-take rights to Daewoo.

Please go the company's website to view graphics related to these drilling results.

About Serengeti Resources

Serengeti is currently advancing its Kwanika copper-gold project in partnership with Daewoo Minerals Canada, and exploring its extensive portfolio of properties in the highly prospective Quesnel trough of British Columbia.

Quality assurance/quality control

Sample preparation and analyses for this program were completed at Activation Laboratories Ltd., an ISO/IEC 17025-accredited laboratory in Kamloops, B.C., or Ancaster, Ont. Gold was determined by 30-gram fire assay with atomic absorption spectrophotometry finish. Samples with more than three grams per tonne gold were reanalyzed for gold by 30-gram fire assay with gravimetric finish. Copper and other elements were determined by aqua regia digestion with inductively coupled plasma-optical emission spectrometry (ICP-OES) finish. Samples with more than 0.25 per cent copper were reanalyzed for copper by assay-grade aqua regia digestion with ICP-OES finish. Samples exhibiting native copper were analyzed by 100-gram metallic screen analysis for copper by four-acid digestion with ICP-OES finish.

A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards form part of Serengeti's sampling protocol, in addition to the laboratory's own quality assurance program. The field program was supervised by Serengeti Resources staff and contractors, 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 qualified person, Mr. Moore, PGeo, president and CEO of Serengeti Resources.

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