Vancouver - Serengeti Resources Inc. (SIR: TSX-V) ('Serengeti' or 'the Company') is pleased to report the first batch of assay results from the 2020 drilling campaign completed at the Kwanika Project in north-central BC.

A total of 4,350 metres were drilled in 9 holes testing a number of exploration targets and resource expansion opportunities. The advanced resource-stage Kwanika project is 26,000 hectares, held by Kwanika Copper Corporation (KCC), and is located in the Quesnel Trough of British Columbia which hosts numerous porphyry copper-gold deposits.

'The significance of these results can't be understated in terms of their positive impact on the Central Zone at Kwanika. K-198, the infill hole, besides confirming a very long mineralized intercept continues to demonstrate the presence of discrete higher grade intervals that may be amenable to more selective mining within the overall underground resource shape. Furthermore, it appears that the bounding Pinchi fault lies further west than previously modelled which may allow us to bring existing resources back into a potential mine plan. K-197 opens up the Central Zone to the south and K196 demonstrates that a deep copper-gold system occurs some 500 meters to the north of the Central Zone associated with a strong IP geophysical signature and both areas warrant additional drilling to continue to firm up resource expansion opportunities', stated David W. Moore President & CEO of Serengeti Resources.

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.

Serengeti and Sun Metals Corp announced on November 30th, 2020 that they have entered into a definitive arrangement agreement pursuant to which Serengeti will acquire all of the issued and outstanding shares of Sun Metals Corp. The combined company will result in a diversified copper-gold developer with a large pipeline of projects, in one of Canada's most prolific porphyry mining camps in North-Central BC, bringing together exploration, development and operational synergies at multiple projects along with ongoing resource expansion opportunities and new discovery potential.

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 as well as a comprehensive list of risk factors 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. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates change, other than as required by law and readers are further advised not to place undue reliance on forward-looking statements.

Contact:

Tel: 604-605-1300

Email: info@serengetiresources.com

Web: www.serengetiresources.com

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