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 reached 20,545 ounces, slightly above budget and on track with guidance [3][4]. - The company achieved a 10% improvement in development rates compared to Q1 2025 [3]. - The Palito plant feed grades improved by 27% year-to-date compared to the 2024 average, while Coringa plant feed grades improved by 12% [4]. Operational Performance - The Coringa ore sorter has been operational for six months, allowing the company to process low-grade ore stockpiles while transporting higher-grade ore directly to the Palito plant [5]. - The Serra zone at Coringa has been in operation for four years, with ongoing development and production from multiple levels [6]. - The second quarter saw further development into the Meio zone at Coringa, with stoping just commencing [6]. Financial Update - Cash balances at the end of June 2025 were $30.4 million, up from $26.5 million at the end of Q1 2025 [7][13]. - The net cash balance at the end of Q2 2025 was $24.6 million, an increase from $21.1 million at the end of Q1 2025 [7][13]. Exploration and Growth Strategy - The company is targeting 30,000 meters of drilling this year as part of its brownfield exploration program, with encouraging initial results from various ore bodies [9]. - The goal is to increase the current mineral resource inventory to between 1.5 million ounces and 2.0 million ounces [9]. - Significant contributions to production are expected from the G3 vein at Palito from 2025 to 2027 [8]. Production Guidance - Serabi Gold remains on track to achieve its 2025 consolidated production guidance of 44,000 to 47,000 ounces of gold [14].