The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
Exploration update at Palito, Coringa and São Domingos
Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold
mining and development company , is pleased to provide an exploration update from its activities on its Palito
Complex, Coringa Mine and São Domingos target in the Tapajós region of Par á State, Northern Brazil. The
exploration results presented are related to the field works and the diamond drilling campaign initiated in the last
quarter of 2024 (all financial amounts are expressed in U.S. dollars unless otherwise indicated) .
Highlights
• In January 2025, Serabi initiated a $9 million exploration programme, as Phase II of its growth strategy. The
objective of the programme is to grow resource ounces at both the Coringa Mine and Palito Complex sites.
The plan includes 30,000m of diamond drilling (16,000m at Coringa Mine and 14,000m at Palito Complex)
to test new IP geophysical targets at Palito, the extensions of known ore bodies in both sites, and anomalous
geochemical/geophysical trends at Coringa, in addition to a 100km IP survey at Corin ga in its southwestern
and northern portions.
• 12 holes were drilled into the São Domingos prospect, totalling 3,769m. The initial exploration model
estimates a potential of 88.5 koz @ 13.83 g/t Au (orebody 1 out of 5 identified – refer to Figure 1 below for
further details) in a subvertical mineralised zone, which dips gently to the southwest . This potential volume
and grade is however, conceptual in nature as insufficient exploration has been completed to define a mineral
resource and it is uncertain if a mineral resource estimate will be delineated.
• The recent drill program was to follow -up on the v isible gold identified in hole 21 -SD-010 which
returned a number of intersections including 7.15m at 258.2g/t Au at São Domingos, as announced
on 7 April 2021 (Press Release).
• Highlighted intercepts include:
• Hole 24-SD-016 – 1.65m @ 80.50 g/t Au from 193m
• Hole 24-SD-023 – 1.35m @ 19.97 g/t Au from 143m
• Hole 24-SD-024 – 0.60m @ 16.25 g/t Au from 186m
• Hole 24-SD-026 – 1.50m @ 30.13 g/t Au from 317m
• Hole 24-SD-026 – 0.75m @ 42.30 g/t Au from 330m
• Significant intercepts from the 2025 diamond drilling campaign both at Palito Complex and Coringa Mine
include:
• Hole 25-SE-001 – 0.6m @ 27.17 g/t Au from 274m (Senna orebody at Palito Complex)
• Hole 25-SE-001 – 1.05m @ 6.42 g/t Au from 276m (Senna orebody at Palito Complex)
• Hole 25-JA-003 – 0.5m @ 27.78 g/t Au from 120m (Jatobá orebody at Coringa)
• Hole 25-GA-001 – 0.5m @ 52.07 g/t Au from 150m (Galena orebody at Coringa)
• The IP program me completed in December 2024 at Palito northwestern portion identified chargeability
anomalous trends following the extension of the known orebodies at Palito Complex. Drilling into these
targets is expected to start in Q2-2025.
• Interpretation of approximately 15,000 soil samples with multi-element analysis covering approximately 70%
of Serabi’s permit ted portfolio has been completed. Approximately 70 targets have been generated and
ranked, in addition to the definition of specific lithostructural domains for the different types of mineralisation
and exploration focus that includes copper porphyries similar to Matilda.
Mike Hodgson CEO commented : “With strong economic tailwinds and solid gold production growth expected to
continue into 2025, Serabi is encouraged by excellent initial exploration results which are setting the Company off
on its path to significantly grow resources as Phase II of our growth strategy.
The drilling results from the Senna orebody at the Palito Complex, as well as Jatobá and Galena in Coringa, confirm
that we are progressing towards our goal of delineating a consolidated 1.5 to 2.0 million ounces in the coming years.
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
The results of the drilling at the São Domingos target were very positive. The exploration model shows a vertically
oriented high-grade orebody that provide s flexibility in the exploitation mining process, significantly increasing the
mass and consequently the number of ounces produced. The planning team will evaluate the economics of the
model, and we expect to have a reserve drilling and production plan soon.
In addition to the work being carried out on the brownfield targets, the exploration team is continuing interpretation
work on the greenfield targets. An abundance of copper/gold targets found during the regional soil and drilling
campaigns demonstrate the prospectivity of our property that is still underdeveloped and underexplored. We are in
the final phase of maturing our targets to execute the regional exploration program in the oncoming years.”
Figure 1 - Map showing the exploration model for São Domingos target at Palito Complex.
The initial exploration model estimates a potential of 88.5 koz @ 13.83 g/t Au (orebody 1 out of 5 identified – refer
to Figure 1 for further details) in a subvertical mineralised zone, which dips gently to the southwest. Readers should
note that the potential volume s and grade s set out in the table below are conceptual in nature as insufficient
exploration has been completed to define a mineral resource and it is uncertain if a mineral resource estimate will be
delineated.
Source: Serabi Gold
Figure 2 - Map showing the geological map and main targets within the domains generated based on the
interpretation of the regional work to date.
Source: Serabi Gold
Orebody Mass (ton) Au (g/t) Au (oz)
1 199,046 13.83 88,505
2 2,464 16.99 1,346
3 4,794 0.55 85
4 1,613 1.06 55
5 5,107 0.8 131
Total 213,024 13.16 90,123
Calico / Forquilha – Multi-elemental and
Au anomalies associated to geophysical
high mag. Target is interpreted as a silica
cap associated with an epithermal system
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
Detailed Results and Technical Discussion
São Domingos
The second phase of São Domingos drilling was completed in the period from November 2024 to February 2025
where 12 diamond drill holes were carried out for a total length of 3,769m. The samples underwent the entire QA/QC
procedure and were analysed by an external laboratory. São Domingos is a target located only 12 km from the São
Chico mine infrastructure, which has all the necessary facilities and greatly facilitates the execution of exploration
and exploitation activities. The exploration model was executed internally with the help of a specialised consultancy
and follows best market practices.
The modelled zone has a pipe -like shape with a thickness that varies from 20 m to 30m and a known dip -length of
155m. The zone is still open at depth and due to its average thickness, which is significantly greater than that found
in the Palito bodies, opens the opportunity for a mining method of greater volume.
Highlighted intercepts are presented below:
HOLE_ID Obs From To Interval (m) Gold Grade
(Au g / t)
24-SD-016 193 194.65 1.65 80.5
24-SD-019 77.72 78.80 1.08 1.41
and 187.90 188.65 0.75 8.64
24-SD-021
92.75 93.25 0.50 0.97
and 109.80 110.45 0.65 7.74
and 113.00 113.65 0.65 3.34
24-SD-022 220.75 221.25 0.50 1.21
24-SD-023 138.15 145.10 6.95 4.45
including 143.20 144.55 1.35 19.97
24-SD-024
186.45 189.70 3.25 4.03
including 186.45 187.05 0.60 16.25
and 193.75 194.28 0.53 5.29
and 203.70 204.25 0.55 4.14
and 207.00 207.55 0.55 1.46
and 228.00 229.00 1.00 2.85
24-SD-026
296.60 297.20 0.60 1.11
and 314.00 318.30 4.30 10.77
including 316.80 318.30 1.50 30.13
and 329.00 329.75 0.75 42.30
Source: Serabi Gold
Brownfield Exploration
In early 2025, Serabi began executing its $9 million budget planned for the year. Two diamond drill rigs were deployed
to the Palito Complex and two more to the Coringa Mine. Both program mes began in January with 14,000 m
scheduled for brownfields at Palito Complex and 16,000m at Coringa Mine. The focus of the Palito Complex drilling
is to add resources by testing the continuity of the main ore bodies at depth and along the structural trend, test new
bodies parallel to the main northwest structure, and test the IP geophysical and geochemical targets generate d in
2024 in the west-northwest portion of the Palito Complex. For Coringa, the plan in the first half of the year is to add
ounces by testing the extension of the main orebodies and their connections along the main structure . The second
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
half of the year at Coringa is expected to test the targets generated with the IP that will begin Q2-2025 after the rainy
season.
Figure 3 - Image showing the location of main Palito orebodies with drilling results above 5g/t Au .
Source: Serabi Gold
For Palito, a total of 2,670m has been drilled in 4 holes in the Piaui target and 3 holes in the Senna target, totalling
1,479m and 1,191m, respectively. Initial results available to the Company are encouraging. The Piaui target returned
low grades despite the presence of 1 -2 meters thickness of hydrothermal alteration with high sulphide content of
around 5%-10%. Initial interpretations are the Piaui orebody appears to be a low -grade orebody with high potential
to contain supergene resources in its upper oxidized zone.
The Senna orebody has 2 holes in progress (25-SE-002 and 25 -SE-003) and one completed (25-SE-001). The
results of the first drill hole, 25-SE-001, returned 3.4m @ 6.93 g/t Au from 274m, including 0.6m @ 27.17 g/t Au from
274m and 1.05m @ 6.42 g/t Au from 276m from the Palito Complex lab. These results are encouraging and show
the potential for the extension of the Senna orebody to the northwest and consequently for the addition of resources
in the area. 25 -SE-002 is testing the south continuation of the ore body while 25-SE-003 is an extension of the 25 -
SE-001 to the north.
Figure 4 - Section showing the 25-SE-001 orebody in red, with the Senna samples on right side.
Source: Serabi Gold
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
For Coringa, the low-grade orebody Valdete was tested with 2 drill holes and 354m and results confirm the potential
for a low-grade orebody. Additionally, 1 drill hole with 216m was drilled in Serra, 2 drill holes in Galena-Mãe de Leite
trend with a total of 674m and 534m in 3 diamond drill holes in the Jatobá target totalling 1,778m of diamond drilling.
Internal laboratory results are available only for Valdete, JA -003 at Jatobá target, and GA -001 at Galena target drill
holes. JA-003 returned 0.5m @ 27.78 g/t Au from 120m while GA -001 returned 0.5m @ 52.07 g/t au from 1 50m.
Jatobá is a body parallel to the Serra body, approximately 400m to the north, which, until now, has not yet been
tested with drilling. It has a narrow surface expression, but the third drilling of the campaign brings new perspectives
on the potential of this body in depth. The drilling in Serra in it s southeast portion returned interesting hydrothermal
with the potential to contain economic results but results are still pending.
Figure 5 – Map showing the location of Coringa targets, the drilling and platform status
Source: Serabi Gold
The drilling at Coringa continues along the Galena -Mãe de Leite trend and more drilling is scheduled for the Serra
target. The results from Jatobá target will be evaluated to determine the next steps. Figure 6 demonstrates the
brecciated shape with disseminated sulfides.
Figure 6 – Jatobá Vein
Source: Serabi Gold
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
IP Survey
During 2024, 64,550 linear meters of ground geophysics (IP induced polarization) were surveyed in the Palito region.
The IP method is effective in Palito ore bodies as a pathfinder for mineralization due to the presence of sulphides
and their association with gold.
The IP survey took place in the west-northwest portion of the Palito mine with the objective of searching for the
extension of the Palito ore bodies in this direction.
The results show encouraging chargeability anomalies that were integrated with the surface geochemistry data to
determine the best locations for drilling. This drilling is expected in Q2-2025 as soon as the accesses and drill
platforms are prepared and the wet season ends, with the bodies closest to the infrastructure to be initially tested.
Onça will be the first target from the interpretation made. Onça is interpreted as the Piaui extension and has an
anomalous signature in the IP and significant gold soil anomalies on surface.
Figure 7 – Map showing IP chargeability anomaly, gold in soils with Palito drill hole locations with the main
orebodies. Onça will be the first IP target to be tested.
Source: Serabi Gold
Regional data interpretation
The regional geological framework for the Serabi areas has been interpreted and approximately 70 targets were
generated and ranked according to the geochemical results, the level of detail of the geological knowledge, the
amount of geological data and location within defined clusters. A work program is being generated and whilst this is
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
outside the current budgeted brownfield programme, we estimate an initial 18-month programme of 30,000m ($10M)
would be required as first phase to advance these anomalies into prospects.
Figure 8 – Map depicting the location of the targets interpreted.
Source: Serabi Gold
About Serabi Gold plc
Serabi Gold plc is a gold exploration, development and production company focused on the prolific Tapaj ós region
in Pará State, northern Brazil. The Company has consistently produced 30,000 to 40,000 ounces per year with the
Palito Complex and is planning to double production in the coming years with the ramp up of the Coringa Mine.
Serabi Gold plc recently made a copper-gold porphyry discovery on its extensive exploration licence. The
Company is headquartered in the United Kingdom with a secondary office in Toronto, Ontario, Canada.
The information contained within this announcement is deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of
the European Union (Withdrawal) Act 2018.
The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice
President, Investor Relations & Business Development.
PRESS RELEASE 7 APRIL 2025
SERABI GOLD plc (“Serabi” or “the Company”)
SERABI GOLD PLC
The Long Barn, Cobham Park Road, Downside, Surrey KT11 3NE This document is not intended to and does
t +44 (0)20 7246 6830 e [email protected] www.serabigold.com not amount to an invitation or inducement to
Registered Office 66 Lincoln’s Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
Enquiries
SERABI GOLD plc
Michael Hodgson t +44 (0)20 7246 6830
Chief Executive m +44 (0)7799 473621
Andrew Khov m +1 647 885 4874
Vice President, Investor Relations &
Business Development
www.serabigold.com
BEAUMONT CORNISH Limited
Nominated Adviser & Financial Adviser
Roland Cornish / Michael Cornish t +44 (0)20 7628 3396
PEEL HUNT LLP
Joint UK Broker
Ross Allister t +44 (0)20 7418 9000
TAMESIS PARTNERS LLP
Joint UK Broker
Charlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868
CAMARCO
Financial PR - Europe
Gordon Poole / Emily Hall t +44 (0)20 3757 4980
HARBOR ACCESS
Financial PR – North America
Jonathan Patterson / Lisa Micali t +1 475 477 9404
Copies of this announcement are available from the Company's website at www.serabigold.com.
See www.serabigold.com for more information and follow us on twitter @Serabi_Gold
GLOSSARY OF TERMS
The following is a glossary of technical terms:
“actinolite” amphibole silicate mineral commonly found in metamorphic rocks, including those surrounding
cooled intrusive igneous rocks
“Ag” means silver.
“alkalic porphyry” A class of copper-porphyry mineral deposits characterised by disseminated mineralisation within and
immediately adjacent to silica-saturated to silica-undersaturated alkalic intrusive centres and being
copper/gold/molybdenum-rich.
“albite” is a plagioclase feldspar mineral
“aplite” An intrusive igneous rock in which the mineral composition is the same as granite, but in which the
grains are much finer
“argillic alteration” is hydrothermal alteration of wall rock which introduces clay minerals including kaolinite, smectite and
illite
“AISC” means All-In Sustaining Cost – a non IFRS performance measurement established by the World
Gold Council
“ANM” means the Agencia Nacional de Mineral.
“Au” means gold.
“assay” in economic geology, means to analyse the proportions of metal in a rock or overburden sample; to
test an ore or mineral for composition, purity, weight or other properties of commercial interest.
“biotite” A phyllosilicate mineral composed of a silicate of iron, magnesium, potassium, and aluminum found
in crystalline rocks and as an alteration mineral.
“breccia” a rock composed of large angular broken fragments of minerals or rocks cemented together by a
fine-grained matrix
“brecciation” Describes the process where large angular broken fragments of minerals or rocks become cemented
together by a fine-grained matrix.
“CIM” means the Canadian Institute of Mining, Metallurgy and Petroleum.
“CIP” or “Carbon
in Pulp”
means a process used in gold extraction by addition of cyanide.