SIR Serengeti Resources Inc

Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) announces that it has
filed on SEDAR 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.


"We are very pleased to have completed this initial scoping study for the
Kwanika project," stated David W. Moore, President and CEO. "This is the first
step in demonstrating project scope and economics. Importantly, the independent
consultant has also concluded that there is potential to further improve project
economics particularly through optimization of the Central Zone open pit and
underground mine plan as well as a number of other internal project
opportunities. This PEA optimization can be done using existing data."


The NI-43-101 technical report authored by J.H. Gray, P. Eng., and Heather
Robillard, P. Eng. of Moose Mountain Technical Services, has now been filed on
SEDAR (www.sedar.com) and is also available on Serengeti's website at
www.serengetiresources.com. Other experts contributing to this study include
David Rennie, P. Eng., of RPA Inc., who has completed three NI 43-101 resource
assessment reports for the property, AMEC Consulting who produced a Caveability
Assessment of the Kwanika Project.


The PEA highlights are as follows:



--  Pre-tax NPV 5% of CDN $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 CDN $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. 
--  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.


Qualified Persons

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 (as defined under National Instrument 43-101) and are independent of
Serengeti. David W. Moore, P. Geo., Serengeti Resources Inc. President & CEO is
the Company's designated QP for this news release and has reviewed and validated
that the information contained in the release is consistent with that provided
by the QP's responsible for the PEA.


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 adequately 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.


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. A comprehensive list of risk factors is provided in the
Company's Annual Information Form ("AIF") for the year ended February 29, 2012
and filed on SEDAR on July 11, 2012. Readers are further advised not to place
undue reliance on forward-looking statements. All mineralized material
classified as Indicated and Inferred Mineral Resources was considered in the
mine plan. The PEA is preliminary in nature and it includes inferred mineral
resources that are considered too speculative geologically to have the economic
consideration applied to them that would enable them to be characterized as
mineral reserves. Mineral resources that are not mineral reserves, do not have
demonstrated economic viability and there is no certainty that the results of
the PEA will be realized.


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

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