Serengeti Reports Closing of Definitive Agreement with POSCO DAEWOO for the Kwanika Project and Receipt of $C 7 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 27, 2017) - Serengeti Resources Inc. (TSX VENTURE:SIR) reports that it has successfully closed the transaction previously outlined in its press release dated October 26, 2017 whereby Serengeti, POSCO DAEWOO Corporation ("PDC") and Kwanika Copper Corporation ("KCC") (formerly known as Daewoo Minerals Canada Corporation) have signed a definitive joint venture agreement (the "JVA") for the exploration and development of the Kwanika copper gold project located in the Quesnel Trough of British Columbia (the "Project"). Pursuant to the JVA, the respective interests of Serengeti and PDC in the Project have been transferred to KCC, a private British Columbia corporation which will serve as the vehicle for the joint venture.