serengeti resources inc (SIR) Snapshot

Serengeti Resources Inc. announced that it has acquired through staking, a 100% interest in a 5675 Ha property comprising two claim blocks located 8 to 10 km north of Colorado Resources recent high grade copper-gold discovery at North Rok in the Red Chris district of north-western British Columbia. The company has also acquired additional claims in the vicinity of its Kwanika copper-gold deposit covering two separate target areas. The newly staked RCN Property is located in the Stikine Arch area of north-west British Columbia. The highly prospective Stikine Arch hosts a number of world class copper-gold-silver porphyry deposits including Red Chris, Schaft Creek, and NovaGold and Teck Resources Galore Creek deposit. Red Chris with proven and probable reserves of 301 mt grading 0.359% Cu, 0.274 g/t Au is currently the site of a $500 million mine development project by Imperial Metals.

Serengeti Resources Inc. reports the appointment of a new Chief Financial Officer (CFO), effective April 1, 2013. Ms. Sheri Rempel, currently Serengeti's Controller, will replace Alec Peck, who has tendered his resignation as CFO. Ms. Rempel has more than 25 years of accounting and financial management experience and has served as Serengeti's Controller since 2007. Ms. Rempel started her career with public companies in 2001 and currently provides senior financial and advisory services to several Canadian private and public corporations, acting in Officer or Controller capacities.

Serengeti Resources Inc. announced that it has filed an independent NI-43-101 technical report outlining the results of a Preliminary Economic Assessment ("PEA") on its 100% owned Kwanika project located in North Central British Columbia, Canada. The results of the PEA, previously released on February 6th, 2013 (NR: 2013-01) demonstrate the potential technical and economic viability of establishing a new copper-gold mine/mill complex on the property. The PEA highlights are: Pre-tax NPV 5% of CAD 263 million, 13.4% IRR, 13.5 year mine life; Life of mine (LOM) payable production of 545 million pounds copper, 489,000 ounces gold, 2.45 million ounces silver and 5.25 million pounds molybdenum; Initial capital cost of CAD 364 million plus LOM sustaining capital of $144 million for a 15,000 tpd (5.5 million tpa) mill and combined open pit, underground mining operation; and a large mineralized envelope exists outside of the resource currently included in the mine plan presenting an opportunity to expand the operation or extend the current projected mine life at some point in the future. The company also reports that it has been advised by Xstrata Canada Corporation that it has elected to continue its option on the Ping claims one of six properties in their original option agreement and currently plans to drill test at least one target on the property in spring 2013. The Ping claims are jointly owned by Serengeti and Fjordland Exploration Inc. The Kwanika PEA was prepared by Moose Mountain Technical Services under the direction of Jim Gray, P. Eng., and is based upon a resource estimate report prepared by David Rennie, P. Eng. of RPA Inc., both of whom are Qualified Persons and are independent of Serengeti.