Serengeti Principals Awarded BC Prospector of the Year for Kwanika Discovery
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/15/10 -- Serengeti Resources Inc. (TSX VENTURE: SIR)(FRANKFURT: 34S) today announced that David Moore, President and CEO of Serengeti Resources, and Myron Osatenko, former Chief Geologist, have been awarded the prestigious 2010 edition of the H.H. 'Spud' Huestis Award for Excellence in Prospecting and Mineral Exploration. The Award is given annually by the Association for Mineral Exploration, British Columbia (AME BC).
The Award is open to individuals engaged in any phase of prospecting and mineral exploration, nominated by an AME BC member or member of an associated exploration and/or mining association. Winners have made a significant contribution, directly or indirectly, to enhance the mineral resources of British Columbia and/or the Yukon Territory, through the original application of prospecting techniques or other geoscience technology.
Mr. Moore joined Serengeti after a 30-year career with Teck Cominco, Cominco and related companies, where he participated in the discovery and delineation of mineral deposits in a number of countries. His experience ranges from grassroots prospecting to international exploration and business development. Myron Osatenko had a 35 year career with the Cominco group of companies and was Serengeti's Chief Geologist from 2004 until his retirement this year.
Mr. Moore's most recent success is in leading his team at Serengeti in the discovery of a significant copper-gold resource at the Company's Kwanika Project in the Quesnel Trough region of British Columbia. Kwanika currently hosts a significant 43-101 compliant copper-gold resource which is currently being recalculated to take into account the impact of Serengeti's 2010 drilling campaign and recent substantial increases in the prices of copper and gold.
AME BC first presented the Award that bears his name to Herman H. 'Spud' Huestis in 1977, following Mr. Heustis's long and distinguished career in the Canadian mining community. Over the years many legendary members of British Columbia's prospecting ranks have received this distinctive honour.
About Serengeti
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, exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia, and has initiated exploration for gold-silver deposits in Mexico. 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 $5.6 million that includes $2.9 million receivable from the B.C. government's METC program. Serengeti has 46.2 million shares issued and outstanding and 51.0 million shares on a fully diluted basis.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Serengeti Resources Inc.
Martti Kangas
Investor Relations
647-521-9261
mkangas@proconsulcapital.com
Serengeti Resources Inc.
604-605-1300
www.serengetiresources.com