TSX-V: SIR TSX-V: SIR RESOURCES INC. RESOURCES INC. Balancing - - PowerPoint PPT Presentation

Serengeti Resources Inc. - Creating Shareholder Value Through Responsible Development And Discovery

TSX-V: SIR

SERENGETI

RESOURCES INC.

TSX-V: SIR

SERENGETI

RESOURCES INC.

Corporate Presentation, May 2019

Balancing Development with Exploration in BC

Serengeti Resources Inc. - Creating Shareholder Value Through Responsible Development And Discovery

TSX-V: SIR

SERENGETI

RESOURCES INC.

THIS MANAGEMENT PRESENTATION (THE "PRESENTATION") WAS PREPARED AS A SUMMARY OVERVIEW ONLY OF THE CURRENT AFFAIRS OF SERENGETI RESOURCES INC.(”SERENGETI" OR THE "COMPANY") AND WAS NOT PREPARED FOR THE PURPOSE OF ASSISTING PROSPECTIVE INVESTORS IN MAKING A DECISION TO INVEST IN SERENGETI. SERENGETI DOES NOT MAKE ANY REPRESENTATION AS TO THE COMPLETENESS, TRUTH OR ACCURACY OF THE INFORMATION CONTAINED IN THIS PRESENTATION. THE RECIPIENT IS CAUTIONED, THEREFORE, THAT IT IS INAPPROPRIATE TO USE THIS PRESENTATION, OR ANY PORTION THEREOF, TO ASSIST IN MAKING A DECISION TO INVEST IN SERENGETI. CONFIDENTIALITY This Presentation is confidential and the contents are not to be reproduced or distributed to the public or the press. Securities legislation in all provinces and territories prohibits such unauthorized distribution of information. Each recipient of the information contained in this Presentation will treat such information in a confidential manner and will not, directly or indirectly, disclose or permit its affiliates or representatives to disclose such information to any other person or reproduce this Presentation in whole or in part, without the prior written consent of Serengeti. FORWARD-LOOKING INFORMATION This presentation 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 (www.sedar.com)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

• bligation 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. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other

factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Quality Assurance/Quality Control QUALIFIED PERSON The technical information in this presentation has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed by the Company’s qualified person, David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc, who supervised the preparation of, and approved, the scientific and technical information in this presentation.

Forward Looking Statements & Qualified Person

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Contents

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Serengeti Resources Inc. - Creating Shareholder Value Through Responsible Development And Discovery

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BC Focused Low-risk jurisdiction, mining friendly, prospective. Advanced Project Kwanika copper-gold porphyry. BC’s next Cu-Au mine? PFS Underway PFS on 15ktpd open pit & u/g mine, due mid-2019 Major Partner Korean major, Posco International, owns 35% of Kwanika Exploration Upside 73,000 hectares of prime porphyry Cu exploration ground, multiple regional exploration targets. Experienced Team Technical team led by award-winner David Moore. Insider Ownership Management & insiders own 34% of the company.

Serengeti Highlights

A Canadian mineral exploration company working in central British Columbia. Serengeti is developing the Kwanika Cu-Au project in partnership with Posco International, and exploring for new Au-Cu porphyry deposits in the highly-prospective Quesnel Trough. We’re focused on engineering a high-grade, high-margin, medium tonnage operation at Kwanika.

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A High-Quality Portfolio of Porphyry Cu-Au Projects in British Columbia

Quesnel Terrane rocks SIR properties shown in red

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Corporate Objectives

Short Term

• Complete optimized PFS engineering on Kwanika by mid-2019
• Secure funding for regional exploration and G&A for remainder of 2019
• Exploration of key regional porphyry targets & drilling at the Atty / UDS target.

Medium to Long Term

• Reach go-no-go decision point on a FS for Kwanika, & secure funding for continued project development work
• Continue sole- or JV-funded exploration of the regional porphyry portfolio
• Unlock value of Kwanika & exploration portfolio for shareholders

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Company Structure, Ownership & Technical Management

Key Data

Head Office Vancouver, BC, Canada Ticker TSX-V: SIR Issued Shares (Feb 14, 2019) 92.61 M Options 6.20 M Warrants 2.15 M Fully Diluted 100.96 M Cash: Serengeti $1.7 M Kwanika Copper Corp. $0.5 M

Management & Insiders = 34% largest shareholder group Retail shareholders = 66%

Key Technical Management

David Moore, P.Geo.

President, CEO and Director

Quinn Harper B.Sc.

Chief Geologist

Wendell Zerb, P.Geo

Board Advisor

Over 30 years experience in mining, mineral exploration / development, and capital

• markets. Technical experience includes senior positions in generative mineral exploration,

development and open pit and underground mining of base and precious metals. In capital markets, he was a Director, Research Analyst, Metals and Mining (Canaccord Genuity Inc.), Vice President of Research and Institutional Sales and President and CEO of a wholly

• wned US subsidiary (PI Financial). Most recently, Mr. Zerb was President and CEO of

Exeter Resource Corp. He directed the re-engineering development program of the Caspiche gold-copper deposit in Chile. Exeter was sold in a $250-million all share takeover to Goldcorp Inc. in 2017. He is a registered Professional Geologist with the Association of Professional Engineers, and Geoscientists of Alberta (APEGA).

• Mr. Moore joined Serengeti in 2004 and since that time, has lead a team that has raised
• ver $35 million in exploration funds and discovered two significant mineral deposits. This

success was recognized by AMEBC co-awarding him the prestigious 2010Prospector of the Year, for the Kwanika discovery. Prior to joining Serengeti, Mr. Moore had a 30-year career with Teck Ltd., a major mining company, where he participated in the discovery and delineation of mineral deposits in several countries. He brings experience and expertise ranging from grassroots prospecting to international exploration, business management and development, as well as a proven ability to recognize exploration targets of high potential and transform them into successful projects. Quinn has been involved with exploration for various deposit types throughout BC, the Yukon, Ontario and Alaska over his 10-year career. Mr. Harper joined Serengeti as Chief Geologist in 2017, tasked with managing Serengeti’s exploration portfolio as well as the advancement of the Kwanika project through the completion of a Pre-Feasibility Study. Prior to joining Serengeti, Mr. Harper was Senior Geologist with AuRico Gold and AuRico Metals through the discovery and subsequent delineation of the Kemess East deposit. In early 2016, Mr. Harper accepted a position with Kiska Metals charged with managing programs in BC and Alaska, as well as completing a detailed study of the Chuchi alkalic porphyry project in north-central BC. Mr. Harper was born and raised in northern British Columbia and continues to draw heavily on his rural ancestry to advance mineral projects in the north.

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British Columbia: A World Class Mining Jurisdiction

1st World Infrastructure

• Amongst lowest power costs in the world
• Easy access to key Pacific Rim markets
• Excellent road and rail network

World Class Geology

• Numerous mineral belts with examples of nearly every major deposit type.
• Current production from porphyry copper systems.

Mining Friendly

• Up to 30% government refund on qualifying exploration expenditures
• Attractive tax and mining royalty regime
• Major mining companies returning to BC, looking for porphyry targets
• In 2017, mining in BC generated close to $12B in revenue, and employed over 30,000 people directly

and indirectly.

• New mines in production & mines being built.
• The majors are betting on BC: Anglo American, Rio Tinto, HudBay, Centerra, Teck, Newmont,

Newcrest, Barrick, Freeport, Antofagasta

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Kwanika

Engineering A Successful Project

Serengeti Resources Inc. - Creating Shareholder Value Through Responsible Development And Discovery

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Kwanika: An Attractive Cu-Au Project

65% SIR, 35% Posco International

• Medium-tonnage porphyry Cu-Au system, central BC, close to infrastructure
• $8.2M strategic funding partnership – POSCO International Corp. (PDC)
• PFS due for completion mid-2019: open pit and underground mine plan
• New resource estimate, incorporates 2018 drilling, substantial increase in resource

confidence ü Hi-grade domains (ca. 1% Cu.Eq.) identified in o/p and u/g ü Substantial increase in M&I tonnes

• New strategic mine plan aiming to improve upon PEA Economics: flexible mining options,

staged capital, high grade/high margin focus

• Excellent exposure/leverage to copper and gold price

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Kwanika: Infrastructure & Tenure

Road, rail & power accessible

• Great infrastructure and road network, continually

improving with recent local industrial activity

• Property scheduled for logging this summer
• 25,928 hectares under management
• All part of Kwanika claim group

Kwanika Central Zone 11

Stardust

(Sun Metals)

Stardust

(Sun Metals)

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• PFS focusing on the high-grade Central Zone
• Simplifying project development plan and decreasing environmental footprint
• Inclusion of 7,400m, 2018 drill program results improves resource certainty
• Updated 2019 Resource Estimate increases the contained metal in M+I categories
• Reviewing an expanded open pit, rethinking development schedule
• Aiming to reduce initial CapEx – defer additional capital for u/g development
• Improving infrastructure – access road upgrades underway for logging
• Positive metallurgy – project generates clean, precious metal-rich concentrates

Kwanika PFS: Best-In-Class Consortium

PFS underway, funded by Posco International, due mid-2019, for 15 ktpd open-pit and underground mine. 12

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Kwanika 2017 PEA: Summary & Potential Improvements

1 See Serengeti news release dated April 3rd, 2017 for full details on the results from PEA. Refer to Disclaimer on Slide 2. C1 Direct cash cost of production per pound of copper net of gold, silver credits

• C$324M Pretax NPV 7%, IRR 21.1%; C$191.2M After-tax NPV

7%, IRR 16.6% ü Improve NPV to Capex ratio

• 15,000 t/d (5.4 Mtpa) combination open pit and underground

mine plan ü Likely very similar daily tonnage throughput

• 15 year mine life with LOM metal production of 601M lbs Cu,

676,300 oz Au, and 2.66M oz Ag in concentrates. ü Increase mine life

• Initial capex of C$476M plus LOM sustaining capital of C$37M

for a 15,000 tpd (5.4 million tpa) ü Reduce overall capex with u/g development costs delayed & pushed into sustaining capital

2017 PEA Summary 2019 PFS Looking to: 13

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DDH

From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Cu Eq (%) Au Eq (g/t)

K-18-180

33.0 546.9 513.9 0.64 0.80 2.08 1.03 2.15

K-18-181

216.0 655.6 439.2 0.52 0.37 1.59 0.71 1.47

K-18-182

25.0 525.3 500.3 0.66 0.80 2.24 1.05 2.19

K-18-183

407.4 719.4 312.0 0.45 0.73 1.75 0.81 1.69

K-18-184

22.8 192.0 169.2 0.25 0.58 1.19 0.53 1.11

K-18-185

34.5 256.4 221.9 0.44 0.61 1.96 0.75 1.55

K-18-186

339.3 491.9 152.6 0.20 0.12 1.16 0.26 0.55

K-18-187

24.8 251.2 226.4 0.59 0.66 2.03 0.92 1.91

K-18-188

363.5 602.0 238.5 0.54 0.62 2.02 0.84 1.75

K-18-189

150.1 362.6 212.5 0.49 0.63 1.70 0.80 1.66

K-18-190

80.5 473.1 392.6 0.53 0.41 1.98 0.74 1.54

Kwanika: 2018 Drilling Highlights

• 7,400m drill program to improve resource certainty
• Drill results included in revised 2019 resource estimate

Intercept lengths in the table above are not necessarily true widths given the fact that holes are being drilled at different angles through forecast mining shapes within a variably oriented mineralized

• body. Gold and Copper equivalents are calculated using the formulae below based on metal prices of $3.00/lb of copper, $1,200/oz of gold and $15/oz of silver, with all metal prices quoted in USD. Metal

recoveries as stated in the PEA as follows; Cu 91%, Au 75%, Ag 75% have been applied to the equivalent calculations..* End of Hole. AuEq = Augpt + ((Aggpt/31.1034*AgPrice*AgRecovery)+(Cu%*CuPrice*CuRecovery*22.0462))/(Augpt/31.1034*AuPrice*AuRecovery) CuEq = Cu% + ((Augpt/31.1034*AuPrice*AuRecovery)+(Aggpt/31.1034*AgPrice*AgRecovery))/(CuPrice*CuRecovery*22.0462) Open pit (Opit), and Underground (Ug) domains are as outlined in the Company’s NI-43-101 Technical Report for the Kwanika Property, Preliminary Economic Assessment Update 2017, dated 19 April, 2017 and filed on SEDAR and on the Company’s website.

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Kwanika: 2018 Drilling Highlights

Section 351, 500E Holes 18-180 & 182 15

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Kwanika: 2018 Drilling Highlights

Section 6,156,200N: B – B’ 16

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2019 Kwanika Central Zone Mineral Resource Statement

Pit-Constrained Classification Quantity (Mt) Cut-off (CuEq%) Grade Contained metal CuEq (%) Cu (%) Au (g/t) Ag (g/t) Cu (Mlbs) Au (koz) Ag (koz) Measured 24.2 0.13 0.51 0.34 0.33 1.07 179 254 833 Indicated 80.4 0.30 0.20 0.18 0.69 360 454 1,784 Total M+I 104.6 0.35 0.23 0.21 0.78 540 708 2,617 Inferred 5.7 0.23 0.16 0.13 0.65 20 25 119 Underground Classification Quantity (Mt) Cut-off (CuEq%) Grade Contained metal CuEq(%) Cu(%) Au(g/t) Ag(g/t) Cu(Mlbs) Au(koz) Ag(koz) Measured 18.7 0.27 confining shape 0.58 0.36 0.40 1.15 151 239 692 Indicated 100.2 0.44 0.29 0.27 0.92 634 884 2,964 Total M+I 118.9 0.46 0.30 0.29 0.96 784 1,123 3,656 Inferred 84.7 0.27 0.17 0.18 0.60 319 480 1,634 Combined Pit and Underground Classification Quantity (Mt) Cut-off (CuEq%) Grade Contained metal CuEq(%) Cu(%) Au(g/t) Ag(g/t) Cu(Mlbs) Au(koz) Ag(koz) Measured 42.9

As applicable for pit and UG from above

0.54 0.35 0.36 1.10 330 493 1,525 Indicated 180.6 0.38 0.25 0.23 0.82 994 1,338 4,748 Total M+I 223.6 0.41 0.27 0.25 0.87 1,324 1,831 6,273 Inferred 90.4 0.26 0.17 0.17 0.60 339 504 1,753 Central Zone Pit-Constrained Sensitivity Analysis at Various Cut-Off Grades Category Quantity (Mt) Cut-off (CuEq%) CuEq (%) Cu (%) Au (g/t) Ag (g/t) Cu (Mlbs) Au (koz) Ag (koz) Total M+I 63.2 0.25 0.45 0.30 0.27 0.89 424 546 1808 24.4 0.40 0.67 0.45 0.41 1.26 244 318 991 Central Zone Underground Sensitivity Analysis Within 0.40% CuEq Grade Shell Total M+I 64.0 0.40 confining shape 0.62 0.39 0.43 1.23 550 884 2,520

• Combined M+I Resource of 223.6Mt grading 0.27% Cu, 0.25

g/t Au and 0.87 g/t Ag

• Contains 1.32Blbs Cu, 1.82Moz Au and 6.27Moz Ag
• Conversion of 42.9Mt of Indicated Resources to Measured
• Represents 20% of combined M+I Resource
• Overall increase in contained metal from the 2016 Indicated

Resource: increases of 44% Cu, 32% Au, 52% Ag

• Identified high-grade domains within open-pit and

underground Resources

• Resource est’ based on 143 holes totaling 65,695m

drilled at the Central Zone, including 2018 program.

Kwanika: 2019 Mineral Resource Update

Revised resource estimate published March 2019

Central Zone Resource Notes The cut-offs are based on prices of US$3.25/lb of copper, US$1,350/oz of gold, US$17/oz of silver and assumed recoveries of 91% for copper, 75% for gold, 75% for silver . Copper equivalents (CuEq) values are calculated using the formula below based on the above metal prices and recoveries. They are also calculated to include smelter terms and a $US:$CAD exchange rate of 0.77 which results in the following equation. CuEq = Cu% + ((Auoz*$CAD1620.77*75%) + (Agoz*$CAD18.79 *75%)) / ($CAD3.71*91%*22.0462) Mineral resources are not mineral reserves and do not have demonstrated economic viability. All values are rounded to reflect the relative accuracy of the estimate.

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Kwanika: 2019 Mineral Resource High-Grade Domains

• Revised structural model created in 2018 provided a

key input for the new resource model.

• Current resource is based on more reasonable u/g

and o/pt confining shapes.

• The new resource estimate has identified coherent

higher-grade domains within u/g and o/p M&I Mineral Resources

• These will be the target for the PFS mine planning.
• The updated model also results in a wider

mineralized envelope extending deeper within the Central Zone compared to the 2016 resource estimate.

Section 351,500E, 2019 Resource block model and confining shapes High-grade resource domains 0.4% Cu Eq. u/g confining shape 64Mt @ 0.62% Cu Eq. Phase 1 pit outline Phase 2 pit outline

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@ 0.25 Cu Eq. pit constrained 63.2 Mt @ 0.45% Cu Eq.

Serengeti Resources Inc. - Creating Shareholder Value Through Responsible Development And Discovery

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RESOURCES INC. 7,400-metre geotechnical drilling program Complete Detailed hydrogeological testing Complete Updated mineral resource estimate Complete Metallurgical testing and waste characterisation On going Engineering design and optimisation work On going Baseline studies On going First Nations and community engagement On going Socioeconomic studies On going

Completion plan over the next 5 months includes:

Kwanika PFS: Pathway to Completion

Pathway to Production: Target Timelines

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Exploration Pipeline

A Portfolio of quality porphyry Cu-Au targets

Serengeti Resources Inc. - Creating Shareholder Value Through Responsible Development And Discovery

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• Large, diversified exploration portfolio with a number of early stage,

generative prospects

• Targeting Au, Cu, Ni and Co mineralization
• Advanced, drill-ready targets including the Atty/UDS gold copper prospect
• Over 73,000 hectares of exploration concessions under management in 17

mineral properties

• $1.5m regional exploration budget for 2019: $1.1m for Atty/UDS and $400k

for other targets inc. Croy Bloom

• SIR constantly reviewing potential opportunities to stake new targets in BC
• 2 property royalties

ü Thor Marmot 0.75% NSR + Property ROFR ü Deer Lake 0.75% NSR + Property ROFR

Exploration Pipeline

Quesnel Terrane rocks SIR properties shown in red Approx’ area of next slide.

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Exploration: Atty-UDS

Possible Kemess offset, option from Finlay Minerals to earn 100%

• ± 6,500 ha property, north-central BC, adjacent and north of

Centerra’s Kemess east deposit.

• Main Atty target is an interpreted faulted offset of Centerra

Gold’s Kemess East Deposit – Kemess East Offset Target

• Target is supported by a classic geophysical IP chargeability

high and by strong Cu and Au geochemistry

• Several other highly prospective target areas
• Centerra are collaring portal for underground access from

Kemess South to Kemess Underground/East SIR is planning a $1.1m multi-hole diamond drilling & detailed IP geophysics program for 2019 to test the Kemess East Offset Target and other target areas. 22

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• Same host rocks as Kemess, structural offset
• Alteration mineralogy vectors toward target. Coincident Cu and Au soil geochemistry
• Strong chargeability and resistivity anomalies
• Last limited exploration at Atty was 2007, prior to the discovery of Kemess East deposit

Atty-UDS: Kemess East Offset, Structural Interpretation

2007 Quantec Titan 24 IP

3D perspective looking north

2004 drilling area Kemess East Offset target

A A’

A A’

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Exploration: Croy Bloom

Alkalic porphyry Cu-Au target, 100% Serengeti

• 13,800 hectares, covering 6 prospective Cu-Au targets
• 200km NW of Mackenzie, immediately west of Omenica

resource access road

• Interlocked with Centerra Gold’s Kliyul Property to

northwest

• Historical drilling intercepted 0.61% Cu, 0.27 g/t Au
• ver 47m
• Exploration has identified 4 porphyry Cu-Au targets, one

Au dominant target and a number of other early stage prospects.

• 2018 IP identified large target beneath drilling

intercepts

• Additional fieldwork & IP survey planned for 2019.

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Approximate position of section line, next slide

A A’

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Croy Bloom 3D Perspective & Target Concept

100% Serengeti

• Serengeti aims to complete a detailed IP geophysics program at Croy Bloom in 2019.
• Priority target is the Soup Ridge: magnetite skarn, hosting Au and Cu mineralization as disseminated chalcopyrite and pyrite
• Skarn zones may be tapping a concealed deeper porphyry system with potential for a bulk mineable Cu-Au deposit

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RESOURCES INC. Arjay Strong copper mineralization within quartz-stockwork zone hosted by boulder agglomerates near possible Takla – Hazelton

• unconformity. Strong magnetic anomaly with associated stream

sediment copper anomalies. Cu up to 57% in grab samples, with strong silver grades. East Niv Identified QSP alteration zone near Takla – Hazelton

• unconformity. Strong magnetic anomaly with historical Induced-

Polarization chargeability/resistivity anomaly. Cu up to 963ppm in stream sediments. West Goldway Located 15km west of Croy-Bloom, near the intersection of several large fault structures and geological suture zones are clearly visible in magnetic data at the regional scale. A strong magnetic anomaly immediately adjacent to the Ingenika fault and strong Cu results from local stream sediments require follow-up.

Generative Exploration

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Serengeti’s regional exploration projects. North-central BC.

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• Located 45km south of Centerra Gold’s Kemess projects
• Quartz–copper-sulphide stockwork zone yields
• utstanding grades along the Takla – Hazelton

Unconformity

• Property covers a disrupted highly-magnetic zone

interpreted to be altered by hydrothermal fluids

• Grab samples range from 5% to 57% Cu in shear zone

samples

Arjay Cu-Ag

100% Serengeti

250m long vuggy quartz shear zone hosting tenorite with malachite

• staining. Garb samples assayed from 5% to 57% copper.

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East Niv Porphyry Cu-Au

100% Serengeti

• 15km northwest of Freeport’s Sustut property
• Quartz-sericite-pyrite alteration zone covers an

area of 1,000m x 1,200m

• Partially-defined IP chargeability anomaly in Takla

Group rocks

• Up to 953ppm Cu in stream sediment samples

draining the QSP zone

• Occurs along the favourable Takla – Hazelton

Unconformity

Feldspar porphyry with rusty

• fracture. 1-2%

disseminated

• pyrite. Intense

Limonite and

• FeOx. Gossan

Zone.

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News Flow for 2019 2019

Q2 Q3 Q4

• General progress report on FS
• File Kwanika mineral resource NI43-101

technical report

• Begin regional exploration programs
• Publish Kwanika PFS results
• Publish updated Kwanika NI43-101

technical report

• On-going reporting of regional

exploration results

• Drilling at Atty
• On-going reporting of regional

exploration results

• Decision to start a FS on Kwanika

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The Serengeti Opportunity

Balancing development with exploration

• One of few junior companies with majority ownership in an advanced Cu-Au development project
• Fully funded PFS, due mid 2019, to target higher margin options at Kwanika – optimized economics
• Excellent exposure and leverage to copper and gold price
• Exploration upside from attractive, drill-ready targets including hi-priority Atty-UDS
• Atty - Interpreted as possible fault offset of Centerra Gold’s Kemess East Deposit
• Extensive portfolio of early-stage properties.

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David W. Moore Serengeti Resources Inc. Suite 520, 800 West Pender St Vancouver, BC, V6C 2V6 info@serengetiresources.com (604) 605-1300 31

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Board of Directors

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David Moore, P. Geo. President, CEO and Director Joined Serengeti in 2004. Leads a team that has raised over $35 million and discovered two significant mineral deposits. Awarded 2010 AME BC Prospector of the Year, for the Kwanika

• discovery. Before joining Serengeti, he had a 30-year career with Teck Ltd., where he participated in the discovery and delineation of mineral deposits in several countries. He brings experience

and expertise in grassroots prospecting, international exploration, business management and development. Lewis Lawrick, B.Comm. Director President and CEO of Brionor Resources Inc., and MD of Thorsen-Fordyce Merchant Capital Inc., a private Toronto-based merchant banking company focused on resources and raw materials. He has extensive executive management experience in the mining and mineral exploration sector, and has held several positions in the private investment sector. Mr. Lawrick is a director of several public mining development and exploration companies. George Tikkanen, B. Eng. Director Brings more than 40 years of exploration, mine development and mining operational experience, including more than 30 years at the corporate and board level. He retired from Cominco Ltd. as Vice President Exploration and was also President of Cominco Resources International Limited, from its inception in 1987 until 1995. He oversaw the discovery or acquisition of many gold and base metal deposits and his experience includes several mine development projects and responsibility for the management of a number of underground and open-pit mines in several

• countries. Mr. Tikkanen has been a director of a number of other natural resource companies.

Teo Dechev. P. Geo., MBA. Director Teo Dechev is President, and CEO and Director of Mundoro Capital Inc., exploring in Serbia, Bulgaria and Mexico. She brings over 20 years of investment banking experience and has helped raise more than half a billion dollars in the mining sector. She has worked at Desjardins Securities Inc., CIBC World Markets, and National Bank Financial. She holds an MBA from York University in Canada, a 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. Eric Strom, P. Eng. Director Eric Strom is a senior mining engineer with 23 years’ international experience in precious and base metal mine development and operations in Canada, Australia and the United States. Most recently VP Projects and Innovation for Titan Mining and has previously worked for Newgold, Placer Dome, Goldcorp, Rio Tinto and China Molybdenum Company. He led the implementation of the world’s first fully automated underground block cave mine at Northparkes Mines, Australia, and has experience in optimizing operations 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.