Monday, April 16, 2012

President's Letter

Serengeti Resources Inc. (SIR-TSX:V) is a Vancouver based mineral exploration company focused on exploration of copper and gold deposits in the Quesnel Trough of North-Central British Columbia -- one of Canada's major copper-gold porphyry belts, and for gold-silver bulk-tonnage deposits in the Altiplano mineral belt of North-Central Mexico.

Serengeti's principal property is the Kwanika project where over 70,000 meters of drilling has outlined two large, adjacent porphyry deposits containing a resource of 1.66 million ounces of gold and 1.23 billion pounds of copper in the Indicated category plus 0.9 million ounces of gold and 1.25 billion pounds of copper in the Inferred category (See Company's Independent 43-101 Resource Report dated March 4, 2011 filed on SEDAR). The project is road accessible, connection to the electric grid is within reasonable distance and a key access agreement is in place with the local First Nation group. The project represents a near term development opportunity and a scoping level / PEA on the high grade portion of the resource is scheduled for completion in Q2 2012.

Elsewhere in British Columbia the Company is actively exploring its large portfolio of exploration properties within the Quesnel Trough and its extensions, both on its own and in several joint ventures, including two with major multi-national corporations (Freeport-McMoRan, Xstrata Copper). The Quesnel Trough and its extensions into the Stikine Arch represent a major prospective mineralized belt and include such deposits as Red Chris Cu-Au development project of Imperial Metals and the Mt Milligan Au-Cu development project of Thompson Creek Metals, as well as a number of other current and former producing mines. Serengeti's large portfolio of properties in the belt has multiple drill ready exploration targets, a number of which will be tested in 2012.

In Mexico Serengeti is exploring, through a wholly owned subsidiary, a number of properties in the highly prospective Altiplano belt of Northern Mexico. This belt hosts much of Mexico's silver-gold-base metal resources, including such giant deposits as the Penasquito mine recently put into production by Goldcorp. Serengeti has six properties in the belt totaling 53,880 hectares. Airborne geophysical surveys have been completed on a number of these properties as well as ground geological, geochemical and geophysical surveys. Several high quality exploration targets have been identified on Victoria, Cuates, and Dorado properties, and a 4000 meter reverse circulation drilling program initiated in mid-March is currently underway.

Serengeti Resources is led by a highly experienced and successful management team. David W. Moore, President & CEO, has over 30 years' experience in the discovery and delineation of mineral deposits internationally. The Company is mandated for growth and strives to create shareholder value through exploration and discovery on its extensive portfolio of mineral properties.

Current working capital (as at March 20, 2012) is $3.7 million with 51.1 million shares issued and outstanding of which management, insiders and founders control approximately 25%. Key value drivers for the next 6 months include:

Complete ongoing drilling by SIR on 100% held Mexican Au-Ag properties, Q2 2012
Delivery of PEA on 100% held Kwanika Cu-Au project in BC, Q2 2012
Drilling funded by partners (Freeport-McMoRan, Xstrata Copper) on several BC properties in Q2/Q3 2012
Drilling by SIR on exploration targets at Kwanika and other BC projects in Q2/Q3 2012.

David W. Moore
President & CEO

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Serengeti Resources

	EXPLORATION STAGE
	CODE : SIR.V
	ISIN : CA8174991064

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Serengeti Res. is a copper and gold exploration company based in Canada.

Serengeti Res. holds various exploration projects in Canada and in Mexico.

Its main exploration properties are CROY BLOOM, NECHAKO, OMENICA, KWANIKA, GERMANSEN-VALLEAU, QUEST and KEM in Canada.

Serengeti Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 35.1 millions as of today (US$ 28.1 millions, € 23.5 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.80, and its lowest recent point on January 22, 2016 at CA$ 0.02.

Serengeti Res. has 71 540 000 shares outstanding.

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