FEX Fjordland Exploration Inc

Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) and Fjordland
Exploration Inc. (TSX VENTURE:FEX) are pleased to announce that they have
consolidated their adjoining Mil (SIR-65%/FEX-35%) and Milligan South (100% FEX)
properties into a single project (50%/50% JV), "Milligan West", (the
"Property"), via an amendment to the previous QUEST Joint Venture agreement,
dated February 21, 2008 between Serengeti and Fjordland. The Property,
comprising 15,736 hectares (ha), is located approximately 160 kilometres (km)
northwest of Prince George, BC, and adjoins the western boundary of Thompson
Creek Metals Ltd.'s Mt. Milligan copper-gold project, which is scheduled to
commence production later this year, following a capital investment estimated at
$1.5 billion. 


Previous work on the Mil property (part of the QUEST JV) included airborne
magnetic, ground induced polarization (IP) surveys, geochemical soil surveys, as
well as three shallow diamond drill holes in 2009 totaling 790 metres (m).
Drilling tested a very small proportion of a very large (22 km by 2-3 km)
coincident IP chargeability and magnetic anomaly. One drill hole bottomed in a
strongly altered zone that assayed 0.15% Cu over the final 6 m. In addition,
soil survey results yielded coincident copper and gold anomalies. Additional
drilling is warranted. 


Previous work on the Milligan South included airborne magnetic, ground IP
surveys, geochemical soil surveys, as well as two very shallow diamond drill
holes totaling 230 m by a prior operator. Drilling tested two of three separate,
coincident magnetic and IP anomalies, along with coincident copper and gold soil
anomalies. The companies believe that the drilling may not have intersected the
target and that additional drilling is warranted. 


Serengeti and Fjordland are currently compiling all previous exploration data
for the Mil and Milligan South properties into a single database for the
Property, and in light of current market conditions have elected to seek a Joint
Venture partner to advance the consolidated project. 


"The consolidation of these properties creates a very attractive land package
immediately adjacent to Mt. Milligan, British Columbia's newest copper-gold mine
development," commented David Moore, President & CEO of Serengeti. "This
property is highly prospective and offers excellent discovery potential."


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 and exploring its extensive
portfolio of properties in the highly prospective Quesnel Trough of British
Columbia. Additional information on Serengeti's projects can be found on the
Company's website at www.serengetiresources.com. Serengeti is well funded to
advance its projects with a current working capital position of approximately
$1.6 million. Serengeti has 51.1 million shares issued and outstanding or 56.9
million shares on a fully diluted basis.


Quality Assurance/Quality Control 

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, David W. Moore, P. Geo.,
President and CEO of Serengeti Resources Inc. 


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 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. Readers are advised not to place undue reliance on
forward-looking statements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paradox Public Relations
Investor Relations
514-341-0408 or toll free in North America: 1-866-460-0408
info@paradox-pr.ca


Serengeti Resources Inc.
604-605-1300
www.serengetiresources.com

Fjordland Exploration (TSXV:FEX)
Historical Stock Chart
From Apr 2024 to May 2024

Fjordland Exploration (TSXV:FEX)
Historical Stock Chart
From May 2023 to May 2024