Serabi Gold plc exploration update at Palito, Coringa and São Domingos mines

Serabi Gold plc, 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 Pará State, Northern Brazil. The exploration results presented are related to the field work and the diamond drilling campaign initiated in the last quarter of 2024.

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 Coringa in its southwestern and northern portions.

12 holes were drilled into the São Domingos prospect, totalling 3,769m. The potential volume and grade are however conceptual 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 visible 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.