Directorate Change

Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold mining and development company, is pleased to announce the appointment of Mr. Colm Howlin as an Executive Director of the Company with immediate effect.

As previously announced, Mr Howlin, the former Group Controller of Serabi, was appointed to the role of Chief Financial Officer of the Company (initially non-Board) on 31 December 2024. Mr. Howlin, is a member of the Institute of Chartered Accountants of Ireland and has been with the Company since 2013 and is fluent in Brazilian Portuguese. Prior to joining Serabi as Group Controller, Mr. Howlin was formerly at KerryGroup Latam as Corporate Commercial Controller Latam based in Brazil.

Michael Lynch-Bell, Chair of Serabi, commented:

“Colm has been with the Company for over 11 years, most recently as Chief Financial Officer, and I am delighted to have Colm now join the Board of Directors of the Company as a Director.”

Further AIM Disclosures on Colm Howlin

As required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies, further disclosures on Mr Howlin are as follows.

Colm Howlin, aged 43, has held the following directorships and/or partnerships in the past five years:

Mr Howlin holds no ordinary shares in the Company. Mr Howlin is interested in aggregate 472,360 conditional share awards awarded under the Serabi 2020 Restricted Share Plan. 83,600 conditional share awards were granted in respect of 2022 (which are due to vest in 2025), 151,300 in respect of 2023, 118,948 in respect of 2024 and 118,512 in respect of 2025. The performance criteria for these awards were Total Shareholder Return, Return on Capital Employment and Return on Sales.

There is no further information on Mr. Howlin required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

Assay results reported within this release include those provided by the Company's own on-site laboratory facilities at Palito and have not yet been independently verified. Serabi closely monitors the performance of its own facility against results from independent laboratory analysis for quality control purpose. As a matter of normal practice, the Company sends duplicate samples derived from a variety of the Company's activities to accredited laboratory facilities for independent verification. Since mid-2019, over 10,000 exploration drill core samples have been assayed at both the Palito laboratory and certified external laboratory, in most cases the ALS laboratory in Belo Horizonte, Brazil. When comparing significant assays with grades exceeding 1 g/t gold, comparison between Palito versus external results record an average over-estimation by the Palito laboratory of 6.7% over this period. Based on the results of this work, the Company's management are satisfied that the Company's own facility shows sufficiently good correlation with independent laboratory facilities for exploration drill samples. The Company would expect that in the preparation of any future independent Reserve/Resource statement undertaken in compliance with a recognized standard, the independent authors of such a statement would not use Palito assay results without sufficient duplicates from an appropriately certificated laboratory.

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