VANCOUVER, British Columbia, April 10, 2019 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (SIR: TSX-V) is very pleased to report that it has strengthened the Company’s board of directors with the appointment of two dynamic mining industry leaders with extensive mining and capital markets experience. These skill sets are expected to be invaluable to the Company as it completes its Pre-Feasibility Study for the Kwanika project in the coming months and plots the path forward to future growth and value creation.
Eric Strom is a senior mining engineer with 23 years of international industry experience in precious and base metal mine development and operations in Canada, Australia and the United States. He was most recently Vice-President Projects and Innovation for Titan Mining and has previously worked for Newgold, Placer Dome, Goldcorp, Rio Tinto and China Molybdenum Company. Mr. Strom led the implementation of the world’s first fully automated underground block cave mine at Northparkes Mines, Australia, and has experience in optimizing operations across a spectrum of mining methods including narrow vein handheld, long hole stoping and autonomous block caving. He is a Professional Engineer in the province of Ontario and has a Bachelor of Applied Science in Mining and Mechanical Engineering from Queen’s University.
Teodora Dechev is President, and CEO and Director of Mundoro Capital Inc., a Vancouver-based company that invests in, acquires, and develops mineral resource properties in Serbia, Bulgaria and Mexico. Ms. Dechev brings over 20 years of investment banking experience and has participated in financings for more than half a billion dollars in the mining sector. Her career in investment banking includes work at Desjardins Securities Inc., CIBC World Markets; and National Bank Financial. She holds a Masters of Business Administration (MBA) from the Schulich School of Business at York University in Canada, a Bachelor of Applied Science and Engineering (B.A.Sc.) in Geological & Mineral Engineering from the University of Toronto, is a licensed Professional Engineer in both British Columbia and Ontario, and holds the ICD.D designation.
“I’m very pleased to welcome Teo and Eric to Serengeti’s board of directors. They bring invaluable experience, particularly in capital markets and block cave engineering, that we will be able to draw on and incorporate into our plans as we move the Kwanika project forward through 2019 and beyond. I’d also like to thank Ian Brown, who’s retiring from the board, for his contribution to the development of the company,” said David W. Moore, President & CEO of Serengeti.
Ian D Brown has resigned as a Director of Serengeti effective immediately.
Serengeti also announces that it has granted 1.7 million options to Directors, Officers and Consultants to acquire shares of Serengeti at a price of $0.23, pursuant to the Company’s Stock Option Plan.
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 in partnership with Posco International and exploring its extensive portfolio of properties in north-central British Columbia. A number of these other projects are available for option or joint venture and additional information can be found on the Company’s website at www.serengetiresources.com.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo.
President, CEO and Director
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6