Company Information for Serabi Mining Plc

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Company Statement

Serabi Mining plc is a gold mining and exploration company involved in the evaluation, development and mining of gold deposits in Brazil. The company’s primary operation is the 100% owned Palito Gold Mine located in the Tapajos region of northern Brazil. Having established a strong, strategic land position in the Tapajos, Serabi’s goal is to use Palito as a template for the accelerated development of additional gold mines in the region.

Current Operations

Palito Operations
Sulphides

• The Palito underground mine is currently under care and maintenance ~ all infrastructure intact (plant now used for oxides)
• Commenced commercial production in 2005 –since such time over 110,000 gold equivalent ounces has been produced
• JORC Compliant 190,000 oz AuEq ore reserve and additional 440,000 oz AuEq geological resource defined
• Mineralisation is typically in NW-SE striking, near vertical quartz-gold-copper veins
• The main veins average 0.5m in width, with grades between 15g/t and over 30g/t gold commonPalito Main ZoneChico da SantaPalito WestSennaOxide
• Mineralisation defined over 1km and open at depth (>200m)
• The main zones are
  - SennaOpen Pit (5 veins)
  - Palito West (3 veins)
  - Palito Main Zone (3 veins)
  - Chico da Santa (2 veins)

Oxides

• Currently mining 200-250 tonnes per day, generating 600-750 oz gold per month
• 5,000 ounces gold produced from oxide mining to date
• Exploration drilling campaign about to get underway targeting 40,000t > 2.5 g/tover next 3 months
• The process plant is capable of >600 tpd throughput
• The weathered portion of the mineralised structures at surface is often still rich in residual gold, it is these deposits the garimpeirostarget.
• Although the Palito deposit was discovered by garimpeirosmining the oxides, it is becoming apparent significant volumes of oxide ore still remains un-mined.
• As a rule, ore grade is found as a ‘dispersion halo’within the pisoliteand saprolitehorizons adjacent to vein structures, as well as the oxidised vein itself

Oxide Potential

• 10 target areas outside current production areas, all inside mine operating license area
• Targeted upon anomalous gold in soil geochemistry, trenching and shallow drilling results
• Priority given to those targets with strong pisolitehorizon development
• Evaluation is by power auger and shallow percussion drilling, follow up trenching
• Targeting 40,000 tonnes >2 g/tgold oxide ore

Near Mine Exploration

• Serabi has a land holding of 158,300 hectares
• Located within an extensive centre of garimpeiromining ~ 30 million oz historic production
• The NW-SE Tocantinzinhofracture zone, containing zones of sub-vertical, quartz-gold-sulphide veins, forms the principal control of mineralisation in the central Tapajos region
• Serabi has an extensive land package along this highly prospective trend
• Increasing interest in the region by other parties, evident during the past year

Regional Exploration - Pizon

• Stream sediment screening of the an area covering 123,000ha, non-prospective areas dropped, leaving 48,600 ha
• Potential for granite hosted and epithermal style gold mineralisation
• Little garimpeiroactivity
• Significant anomalous areas corresponding to both NW trending structural lineaments and volcanic units
• Best catchment anomaly of 15km X 5km containing a 4.02g/t Au, from -80# fraction and multiple >0.5g/t results.
• Other significant anomalies definedAirstrip

Geographical Spread

The Tapajos Gold Region, which encompasses an area of about 100,000 km2 (350 km by 300 km) in southwest Pará State of Brazil, is approximately 1,300 km southwest from the state capital, Belem.

Board of Directors and Key Management

Graham Roberts	Non-exec Chairman
Michael Hodgson	Chief Executive
Bill Clough	Director of Business Development
Clive Line	Finance Director

Company Address 2nd Floor 30-32 Ludgate Hill London, United Kingdom EC4M 7DR Telephone: +44 (0) 20 7246 6830 Facsimile: +44 (0) 20 7246 6831 Email: contact[at]serabimining.com Website: http://www.serabimining.com

Additional Address/Key Contact Registered Office 66 Lincoln's Inn Fields London WC2A 3LH

Capital 140,139,065 basic

Annual General Meeting June

Year End 31 December

Nominated Brokers Beaumont Cornish Limited

Nominated Advisors Beaumont Cornish Limited

Major Shareholders

WM Clough and family 37,828,617 (27.0%)

F&C Asset Management 13,045,287 (9.3%)

Barclays Stockbrokers 12,715,022 (9.1%)

Standard Bank plc 5,883,334 (4.2%)

Related News

07/10/08 - Serabi Counts The Cost of Defeat, As Potential Buyers For The Palito Mine Mull Their Options
17/09/08 - RIP The Palito Mine: On The Critical List, One Not-So-Careful Owner, Serabi Mining
15/02/08 - There’s A Whiff of Corporate Activity in The Air For Serabi

Most Recent Statement

16/04/09 - 1st Quarter Investor Update
27/02/09 - Change of Nomad and Broker
23/02/09 - Update on Corporate Events
08/12/08 - Update on Strategic Review
04/11/08 - Section 2.10 Announcement
03/11/08 - Announcement re: preliminary approaches