Q1-2025 Production Results, Operational Highlights and Board Change

Core Viewpoint - Serabi Gold plc reported strong operational performance in Q1-2025, achieving over 10,000 ounces of gold production, marking an 11% increase compared to Q1-2024, with significant grade improvements at both Palito and Coringa mines [3][8]. Production Results - Total gold production for Q1-2025 was 10,013 ounces, an increase from 9,007 ounces in Q1-2024 [10]. - The Palito Complex produced 4,666 ounces, while the Coringa mine contributed 5,347 ounces [10]. - The average gold grade for mined ore was 7.09 g/t, compared to 5.31 g/t in Q1-2024 [10]. Operational Highlights - The Coringa classification plant's first full operational quarter contributed to a 10% grade improvement [4]. - Significant mining activities occurred in the high-grade Barrichello zone at Palito, with ongoing development in the G3 vein expected to yield excellent results [6]. - The brownfield exploration program commenced with two rigs at each site, aiming to double the current consolidated mineral resource inventory of 1 million ounces [7]. Financial Update - Cash position as of March 31, 2025, was $26.5 million, up from $22.2 million at the end of December 2024 [12]. - Net cash at quarter-end was $21.1 million, an increase from $16.2 million at the end of December 2024 [12]. - The company is assessing mechanisms to return capital to shareholders due to strong operational performance and cash growth [8]. Production Guidance - The company remains on track to achieve its 2025 consolidated production guidance of 44,000 to 47,000 ounces of gold [15]. Board Change - Mark Sawyer, a non-executive director, resigned effective April 11, 2025, with the company expressing gratitude for his contributions [16].