Serengeti Settles Final Joint Venture Contract for Kwanika Project with Posco-Daewoo

Serengeti Resources Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 3, 2017) - Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) announces that substantive agreement having been reached between the negotiating teams on all of the business terms and form and makeup of joint venture agreement for the next stage of the Kwanika project earn-in, it has granted Daewoo Minerals Canada (DMC) a thirty day extension until October 25th to provide for ratification by Daewoo's internal approval process and signature of the definitive agreement. The final agreement also remains subject to ratification by the board of Serengeti Resources and approval by the TSX-V Exchange.