Annual General Meeting and update

For immediate release

25 June 2021

Serabi Gold plc
(“Serabi” or the “Company”)
Annual General Meeting and update

Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, advises that at 2.00 pm today (UK time), it will be holding its Annual General Meeting (the “Meeting”)

Regrettably, and as advised in a news release issued on 16 June 2021, further to the Government's announcement on 14 June 2021 that the current restrictions in relation to the COVID-19 pandemic have been extended to 19 July 2021, the Meeting must be held with only the minimum number of attendees to form a quorum. Those attendees will be officers or employees of the Company. We respectfully ask that, in line with the current Government guidance, shareholders do not make plans to attend the Meeting in person as they will not be permitted to enter the venue.

Details of the results of the votes cast at the Meeting will be issued later today.

Reproduced below is the text of a statement prepared by, the Company’s Chief Executive, Mike Hodgson, which would have been delivered to the Meeting providing an update on current operational, development and exploration matters.

“The first five months of 2021 have seen Serabi continue to recover from the measures that were necessarily implemented in 2020 to protect the business from the effects of COVID-19 and we are currently on target to meet our production guidance for the year. More importantly, with mine development rates progressing, I am hopeful that, by the end of 2021, both the Palito and Sao Chico orebodies combined should be ready to deliver production levels of around 45,000 ounces of gold for 2022. Combined with the excellent exploration results that we have achieved in recent months, the prospects for shareholders in Serabi are looking very attractive.

“Following on from the production recovery that began during the fourth quarter of 2020, the first quarter of 2021 saw production levels continue to improve significantly and, driven by improving grades, gold production for the first quarter of 2021 was 16 per cent better than our internal forecast. I am pleased to report that this momentum has continued into the second quarter which, with a few days of the month left to go, should deliver approximately 9,000 ounces of gold production in line with our estimates for the quarter and keeping us on track to deliver our guidance of 33,000 to 36,000 ounces for the calendar year.