Q2-2025 Production Results and Operational Highlights

Core Viewpoint - Serabi Gold plc reported strong production results for Q2 2025, achieving the highest quarterly output since operations resumed in 2013, with a total of 10,532 ounces of gold produced, marking a 17% increase compared to Q2 2024 [3][4][7]. Production Highlights - Total gold production for the year-to-date (YTD) reached 20,545 ounces, slightly above budget and on track with guidance [3][7]. - The Palito plant feed grades improved by 27% year-to-date compared to the 2024 average, while Coringa's grades improved by 12% [4]. - The company completed over 3,850 meters of horizontal development in Q2 2025, a 10% increase from Q1 2025, marking the highest quarterly development since operations began [7][15]. Financial Performance - Cash balance as of June 30, 2025, was $30.4 million, up from $26.5 million at the end of Q1 2025, with a net cash balance of $24.6 million after liabilities [7][16]. - The company remains on track to achieve its 2025 consolidated production guidance of 44,000 to 47,000 ounces of gold [17]. Exploration and Development - Initial results from brownfield exploration at the Palito Complex, Coringa Mine, and São Domingos target showed promising grades, with several drill holes reporting high gold concentrations [10][7]. - The company is targeting approximately 30,000 meters of drilling this year, with two rigs operating at both Palito and Coringa [10]. Operational Insights - The Coringa mine has shown strong performance, with production from both the Serra and Meio zones, and development activities are ongoing [6][15]. - The Palito Complex has seen significant grade improvements, with mined grades averaging approximately 6.19 g/t gold year-to-date compared to 4.86 g/t in 2024 [9].