i''ll take a flyer here at a buckVancouver, B.C., May 16, 2007 . . . Serengeti Resources Inc. (the "Company") is pleased to announce a bought-deal private placement with a syndicate of underwriters led by Canaccord Capital Corporation (the "Underwriters") of 3,000,000 units (the "Units") at a price of $3.00 per Unit and 1,600,000 flow-through shares ("Flow-Through Shares") at a price of $3.75 per Flow-Through Share to raise a total of up to $15,000,000 (the "Offering"). A Unit will consist of one common share and one-half of one transferable common share purchase warrant (a "Warrant"). Each whole warrant will entitle the holder to subscribe for one additional common share (a "Warrant Share") at a price of $4.00 for a period of one year from the date of closing.