Reports a Record Quarterly Production in Q3-2025 of 12,090 Gold Ounces and Provides Operational Highlights

Core Viewpoint - Serabi Gold plc reported a record quarterly gold production of 12,090 ounces in Q3-2025, marking a 27% increase from Q3-2024, and is on track to meet its 2025 production guidance of 44,000 to 47,000 ounces [4][21]. Operational Highlights - The company achieved a total of 3,875 meters of horizontal development in Q3-2025, a 17% increase compared to Q3-2024 [4]. - Cash balance as of September 30, 2025, was $38.8 million, up from $30.4 million at the end of Q2-2025, with a net cash position of $33.0 million [4][18]. - Year-to-date gold production reached 32,635 ounces, indicating strong performance towards the annual guidance [6]. Production Details - Gold production increased by 27% compared to Q3-2024, driven by improved grades at both the Palito Complex and Coringa, with average plant feed grades rising from 5.43 g/t Au to nearly 7.0 g/t Au [7]. - The Palito Complex produced 5,246 ounces in Q3-2025, while Coringa contributed 6,843 ounces [15]. - The company reported significant intercepts from its drilling program, including high-grade results from various drill holes at both the Palito and Coringa sites [4][13]. Exploration and Development - The ongoing 30,000-meter brownfield surface drill program has led to the discovery of a new orebody at Coringa and extensions of existing zones [4][13]. - The company is advancing development in the Serra and Meio zones at Coringa, with the Galena zone expected to contribute significantly in 2026 [11][12]. - The Palito Complex has seen improved grades, with year-to-date mined grades of 6.21 g/t Au compared to 4.56 g/t Au in the same period of 2024 [12]. Financial Performance - The cash balance increased significantly from $22.2 million at the end of December 2024 to $38.8 million by September 2025, reflecting strong operational performance [18]. - The company repaid a $5.0 million unsecured loan and secured a new $5.0 million loan from Banco Santander, indicating a stable financial position [18]. Future Outlook - The company remains on track to achieve its production guidance for 2025, supported by strong operational results and favorable gold prices [14][21]. - The ongoing exploration efforts are expected to enhance the mineral resource inventory, targeting an increase to 1.5 million to 2.0 million ounces of gold [13].