TSX.V : SIR

NOVEMBER 2016

Corporate Presentation

Serengeti Resources Inc. (TSX-V: SIR) is a Canadian junior mineral exploration company focused on development of its Kwanika CopperGold project and exploration for Au-Cu porphyry deposits in the Quesnel Trough and Stikine Arch of British Columbia.

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Forward Looking Statement 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 FORMATION.. 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 Formation. PRELIMINARY ECONOMIC ASSESSMENT (“PEA) The Company cautions that this PEA is preliminary in nature, and is based on technical and economic assumptions which will be evaluated in further studies. The PEA is based on the (as at March 4th, 2013) estimated resource model on the Kwanika Property, which consists of material in both the indicated and inferred classifications. Inferred mineral resources are considered too speculative geologically to have technical and economic considerations applied to them. The current basis of project information is not sufficient to convert the mineral resources to mineral reserves, and mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly, there can be no certainty that the results estimated in the PEA will be realized. FORWARD-LOOKING INFORMATION This presentation contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Statements in this presentation pertaining to projected revenues and cash flows, quantity and grade of mineralized materials, estimated mineral prices are forward-looking statements. These forward-looking statements are based on assumptions and address future events and conditions and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of the assumptions respecting projected revenue, cash flow and quantity of mineralized materials will be set out in detail in the PEA. Such projections are and will inevitably always be dependent on assumptions about future mineral prices and development costs which will be subject to fluctuation due to global and local economic conditions. Further information regarding risks and uncertainties which may cause results to differ from those contained in forward-looking statements are included in filings by the Company with securities regulatory authorities and are available at www.sedar.com. 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 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.

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Serengeti Corporate Snapshot Shares Outstanding

71.3 M

Warrants

14.1 M

Options

7.4 M

Fully Diluted (As of Oct 28th, 2016)

92.8 M

Management, Insiders & Founders

~25% ownership

Treasury* Average Trading Volume (90day) Share Price (SIR.V Oct 28th, 2016) Market Capitalization

~$1.2M 272,000 $0.18 $ ~12.8 M

Management

Board of Directors

David Moore, P.Geo., President, CEO & Director

George Tikkanen, B.Eng.

Sheri Rempel, Chief Financial Officer

Ian Brown, CA

Pam White, Corporate Secretary

Lewis Lawrick, B.Comm.

Michael Thicke, P. Geo. Financial information above is from the Company’s August 31st, 2016 Financial Statements and are expressed in Canadian Dollars. To read the full financial statements, please visit the Company’s website at www.serengetiresources.com

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Copper Waterton Global Resource Fund  Raises US$725 million for gold & copper deals Financial Post June 14th, 2016

BHPB - Real Spark for Cu Demand = Renewable Energy Lots of Cu needed for wind & solar power By 2040, electricity from renewable will double to 46% BHPB estimates a 4 million ton deficit by 2023 Bloomberg May 26th, 2016

Copper Price Sanford C. Berstein & Co. “The conclusion is unequivocal to us: The only way by which future output can be secured is via an appreciation in the commodity prices.” Globe & Mail June 29th, 2016

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Serengeti Opportunity PROVEN TEAM

PROSPECTIVE PORTFOLIO

STRATEGIC PARTNER

PROLIFIC DISTRICT

KWANIKA Cu-Au PROJECT

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Experienced Discovery Team A proven team with successful experience in prospect generation, project development, company management, and corporate finance. David W. Moore, P. Geo. President, CEO and Director •

A key contributor to numerous mineral discoveries including; • Kwanika Cu-Au: co-awarded the AME BC 2010 Prospector of the Year Award • Sopokomil Zn-Pb-Ag, Indonesia • Cerattepe Cu-Au, Turkey • GP4F Kudz Ze Kayah Cu-Zn-Au-Ag, Yukon • Red Dog Zn-Pb, Alaska – the world’s biggest zinc mine • Hackett River Cu-Zn-Ag, Nunavut • Teck Cominco – 30 years

Michael Thicke, P. Geo Principal Consulting Geologist • • • •

Over 30 years of global exploration experience, expertise in porphyry copper Key contributor to the Spence porphyry copper deposit discovery Senior member of BHP Billiton’s Global Porphyry Exploration group Bill Dennis PDAC Prospector of the Year award

Lewis Lawrick, B.Comm. Director • •

Managing Director of Thorsen-Fordyce Merchant Capital Inc – a private Toronto-based merchant banking company focused principally in the resource and raw materials sector. Over 20 years experience as an Officer, Director, and principal investor in numerous junior exploration and development companies (incl Volta Resources – acquired by B2 Gold; Franconia Minerals- acquired by Duluth Metals; Normabec Resources – acquired by First Majestic Silver)

.

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Proven District ◆

Resurgence in BC Cu-Au mine development (e.g. New Afton, Mt. Milligan, Red Chris)

◆

Recent deep drilling identified extensive high grade zones (>1% CuEq) in a number of BC porphyry systems (e.g. KSM, Red Chris, New Afton) • Low risk, politically stable jurisdiction • Attractive tax & mining royalty regime (e.g. 32-35% combined rate) • Up to 30% government refund on qualifying exploration expenditures • Amongst lowest power costs in the world • Good infrastructure and favourable location with respect to Pacific Rim markets

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District Strategy • 25km strategy • Central milling operation

Kwanika Cu Au Mo www.serengetiresources.com | TSX.V: SIR

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Kwanika Opportunity 1.

High-grade deposit

2. Resource re-evaluation  Potential understatement of Cu, Au grade

3. Room to Grow  Large deep geophysical target identified

4. Market Cap - $12.8 Million  ~ $20 Million put into the ground  Daewoo Minerals Canada (DMC) to spend up to $8.2 M to earn 35%

*Disclaimer: Mineral resources that are not mineral reserves do not have demonstrated economic viability

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Daewoo (DMC) Joint Venture •

DMC STAGED EARN-IN*  Year 1: Initial 5%, $1.2M ($400,000 WC, $800,000 project expenditure – PAID)  Year 2 & 3: Additional 30%, $7M expenditure

PROPERTIES INCLUDED: Kwanika, Smoke-Kwanika East, Germansen, Valleau, Rottacker

•

OTHER TERMS:  SIR - operator plus 10% management fee (until 50% ownership)  SIR - 1% NSR if diluted below 50%, plus additional 0.5% NSR if diluted below 33.3%, subject to partial buyback rights;  SIR retains METC(30%) credits on qualifying expenditures on first $8.2M  SIR maintains rights to enter into streaming transactions on all metals subject to DMC having certain off-take rights  DMC has right to fund one additional property nominated by SIR, only if proceed to second option * see NR16-03, April 6th, 2016 for full details www.serengetiresources.com | TSX.V: SIR

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2016 Exploration Budgets Kwanika J/V (funded by Daewoo) • Kwanika Resource Re-evaluation • Kwanika Deposit Area Target Drilling (2450m) • Smoke – Kwanika East IP

$ 200,000 $ 550,000 $ 50,000

TOTAL

$ 800,000

Jewel Property - 100% owned UDS Property - 100% owned Milligan West Property - 50% owned

$ ~60,000 $ ~60,000 $ ~40,000

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2016 Kwanika Drill Results – K-177 Kwanika Drill Program - Reported Analytical Results 2016 Hole

From (m)

To (m)

Interval (m)

Copper %

Gold g/t

Silver g/t

Gold Equiv. g/t

Copper Equiv. %

160

598.4

438.4

0.71

0.83

2

2

1.25

Incl.

216.5

450

233.6

1.18

1.3

3.2

3.24

2.02

Incl.

270.5

274.1

3.6

19.04

6.52

36.7

37.61

23.47

K-177

Orientation (dip/azimuth)

-60º to 348º and

300

346.2

46.2

0.83

2.77

2.5

4.15

2.59

and

370.3

407

36.8

0.83

2.12

2.8

3.49

2.18

598.4

719

120.7

0.06

0.12

0.2

0.21

0.13

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2016 Kwanika Drill Results – K-177

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2016 Kwanika Drill Results – K-178 & K-179 Kwanika Drill Program - Reported Analytical Results 2016 Hole

K-178

From (m)

To (m)

Interval (m)

Copper %

Gold g/t

Silver g/t

Gold Equiv. g/t

Copper Equiv. %

335.2

580.5

245.3

0.06

0.11

0.7

0.23

0.14

Incl.

372.0

388.6

16.6

0.17

0.12

2.2

0.44

0.28

and

502.1

526.8

24.7

0.06

0.27

1.2

0.40

0.25

521.0

755.8

234.8

0.17

0.15

0.7

0.44

0.27

639.6

651.0

11.4

0.58

0.41

1.6

1.37

0.85

804.0

820.0

16.0

0.20

0.19

0.9

0.53

0.33

844.5

903.3

58.7

0.26

0.29

1.2

0.73

0.45

Incl.

Orientation (dip/azimuth)

K-179

-70º to 265º

-70º to 200º

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2016 Kwanika Drill Results – K-178 & K-179

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Kwanika 2016 Drilling

Pyritic Shell in Cover rocks

Kwanika Central Zone

K-16-178 Pierce Point*

0.5 g/t Au Eq. Grade Shell

NW Deep Target

Modeled IP Chargeability *Hole drilled perpendicular to section line

500 m

Slice looking East (90°) Slice Azimuth: 257° Plunge: 90°

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Kwanika 2016 Drilling IP 3D Model

2016 Resource Estimate Focus Area

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Kwanika Mineral Resource – Central Zone Category

Quantity (x1000 Tonnes)

Cut -off Cu Eq (%)

Grade

Cu (%)

Au (g/t)

Contained Metal

Ag (g/t)

Cu (000's lb)

Au (000's oz)

Ag (000's oz)

Pit Constrained Indicated

101,500

0.13

0.31

0.32

0.96

697,200

1,040

3,120

Inferred

31,900

0.13

0.17

0.14

0.59

118,500

140

610

Indicated

29,700

0.27

0.34

0.36

1.05

222,300

350

1,010

Inferred

7,900

0.27

0.23

0.17

0.68

39,800

40

170

Underground

Sensitivity Analysis at Various Cu Eq Cut-off Grades Total Indicated

31,800

0.60

0.61

0.75

1.76

427,300

760

1,800

57,700

0.40

0.48

0.55

1.43

609,500

1,020

2,650

133,500

0.20

0.32

0.33

0.98

941,800

1,420

4,210

* Pit constrained mineral resources are reported in relation to a conceptual Whittle pit shell and underground resources are reported within the area for potential underground development. Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate. ** Pit constrained mineral resources are reported at a copper equivalent cut-off of 0.13% and underground resources are reported at 0.27%. The cut-offs are based on prices of US$3.00 per pound of copper, US$1,300 per ounce of gold, US$20 per ounce of silver, US$9.00 per lb of molybdenum and assumed recoveries of 89% for copper, 70% for gold, 75% for silver, and 60% for molybdenum.

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SRK 2016 vs RPA 2011 Resource Block Models

*Cu Eq calculation is based on prices of US$3.00 per pound of copper, US$1,300 per ounce of gold, US$20 per ounce of silver, US$9.00 per lb of molybdenum and assumed recoveries of 89% for copper, 70% for gold, 75% for silver, and 60% for molybdenum.

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Examples of Deep High Grade Porphyry Root Systems Deep Kerr/KSM Seabridge Gold Inc., Stikine, BC

◆

Deep drilling below giant KSM CuAu system has outlined a resource > 1B tonnes

◆

1.0 Bt Grading 0.53% Cu, 0.35 g/t Au to depths > 2200m

Source: Seabridge Gold Inc.

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Examples of Deep High Grade Porphyry Root Systems New Afton Mine, New Gold Inc., Kamloops, BC •

A high grade keel beneath past producing Afton open pit

•

Underground block cave production began in 2012

•

Mine expansion underway, feasibility of mining deep extensions > 1200m below surface is being considered Source: New Gold Inc.

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Jewel Property – 100% Owned Additional Targets

◆

Priority sulphide target

◆

Located 25 km NE of Kwanika Cu-Au deposit

◆

Airborne survey identified deposit scale cluster of strong, discrete magnetic highs one with single line coincident VTEM anomaly

◆

Target represents a possible skarn-porphyry system or VMS target

◆

Results pending from ground geophysical / geochemical program completed fall 2016

Original VTEM / Mag Target

Possible Intrusive

Additional Targets

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UDS – 100% owned in Kemess Mine District

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UDS Target Location

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Milligan West Property – IP Survey

• 50/50 joint venture with FEX.V

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David W. Moore Serengeti Resources Inc.

Suite 520, 800 West Pender St Vancouver, BC, V6C 2V6 [email protected] (604) 605-1300