Accident at Palito Mine

For immediate release

            10 March 2021

Serabi Gold plc
(“Serabi” or the “Company”)

Accident at Palito Mine

Serabi Gold plc (AIM: SRB, TSX: SBI), regrets to announce an accident yesterday at its Palito Mine, as a result of which an employee was fatally injured in a mining-related accident whilst working underground at a production face.  No other personnel have suffered any injury.

Management is still completing its investigations into the circumstances of the accident, which will also determine if all operating procedures were being followed correctly at the time of the accident.  The Company has notified the relevant authorities, including the police, and are providing all necessary assistance for the enquiries into this incident. Production in the area of the incident has is expected to be resumed within a few days once the authorities have completed their enquiries.

Until such a time as the outcome of the enquiries has been reached, no further details can be released. The directors and management of Serabi express their sincere condolences to the family and colleagues of the deceased and the Company is providing all necessary support to the family.

Mike Hodgson, Chief Executive Officer, said:

“It is with great sadness that we announce a fatal accident at our Palito mining operation.  I join with all of my colleagues and fellow directors in expressing our sincere condolences to the family and friends of the deceased."

Enquiries:

Serabi Gold plc
Michael Hodgson	Tel: [phone]
Chief Executive	Mobile: [phone]
Clive Line	Tel: [phone]
Finance Director	Mobile: [phone]
Email: [e-mail]
Website:  www.serabigold.com
Beaumont Cornish Limited