Core Viewpoint - Serabi Gold plc has announced updated Mineral Reserve and Resource estimates for its Palito Mine, indicating a consistent ability to replenish resources, with a 4% increase in combined resource categories since 2023, and a total mineral inventory of 552,000 ounces [1][3]. Mineral Reserve Estimates - The updated Mineral Reserve estimates for the Palito Mine and São Chico Mine as of April 1, 2025, show a total of 162,600 ounces (706,000 tonnes at 7.2 g/t Au), down from 206,400 ounces (824,800 tonnes at 7.8 g/t Au) in July 2023 [6][30]. - The reserve life is projected to exceed six years at current production levels, excluding future resource to reserve conversions [6][30]. - Proven reserves are 103,800 ounces (422,400 tonnes at 7.7 g/t Au) and probable reserves are 43,100 ounces (223,600 tonnes at 6.0 g/t Au) [7][30]. Mineral Resource Estimates - The updated Mineral Resource estimates for the Palito Mine as of April 1, 2025, include Measured Resources of 769,000 tonnes at 10.8 g/t Au (267,500 ounces), Indicated Resources of 333,000 tonnes at 7.7 g/t Au (82,500 ounces), and Inferred Resources of 682,000 tonnes at 7.4 g/t Au (161,800 ounces) [10][33]. - The total Measured and Indicated Resources amount to 1,102,000 tonnes at 9.9 g/t Au (350,000 ounces) [10][33]. Exploration and Future Plans - A $9 million brownfield surface exploration drill program commenced in early 2025, with approximately 50% of the budget allocated to the Palito Complex to test extensions of known orebodies [4][3]. - Results from this exploration program are expected to be included in an update in early 2026 [4][3]. Company Overview - Serabi Gold plc is focused on gold exploration, development, and production in Brazil, with a consistent annual production of 30,000 to 40,000 ounces from the Palito Complex and plans to double production with the Coringa Gold project [18].

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].

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].

Core Viewpoint - Serabi Gold plc has approved the vesting of Conditional Share Awards for the 2022 calendar year, with a total of 482,528 new ordinary shares due to vest under the Long Term Incentive Plan (LTIP) based on performance metrics over a three-year period [1][2]. Group 1: Conditional Share Awards - The 2022 Awards were granted under the 2020 Restricted Share Plan, requiring a three-year performance period with specific performance criteria to be met [2]. - The performance criteria include 40% based on Total Shareholder Return (TSR), 30% on Return on Capital Employed (ROCE), and 30% on Return on Sales (ROS) [7]. Group 2: Cash Settlement - The Board has opted for a cash settlement for the 2022 Awards due to the strong cash position of the Group, with the cash value determined by the 20 Day VWAP price of £1.52 as of 5 June 2025 [3]. - The cash payments for Mr. Hodgson and Mr. Howlin are £341,356 and £104,956 respectively, after applicable tax deductions [4]. Group 3: Shareholder Engagement - CEO Mike Hodgson has purchased 45,000 shares at £1.69 on 5 June 2026, increasing his total holdings to 135,066 shares, representing 0.18% of the issued shares [4]. Group 4: Company Overview - Serabi Gold plc is focused on gold exploration, development, and production in the Tapajós region of Brazil, with a production range of 30,000 to 40,000 ounces per year and plans to double production with the Coringa Gold project [9].

Core Insights - Serabi Gold plc reported significant financial growth for the year ended December 31, 2024, with revenue increasing to $94.5 million, a 48% rise from $63.7 million in 2023, driven by higher gold production and prices [5][8] - The company achieved a post-tax profit of $27.8 million, marking a 321% increase from $6.6 million in the previous year, alongside an EBITDA of $35.9 million, up 160% year-on-year [5][8] - A new shareholder return policy was announced, targeting a return of 20% to 30% of free cash flow through dividends or buy-backs, reflecting the company's confidence in its financial position [5][18] Financial Performance - Revenue for the full year reached $94,536,392, compared to $63,707,468 in 2023, with a quarterly revenue of $24,245,751 for Q4 2024 [3][5] - The average gold price received increased to $2,407 per ounce, up 24% from $1,945 in 2023, contributing to the revenue growth [5][8] - Gold production for 2024 was 37,520 ounces, a 13% increase from 33,153 ounces in 2023 [5][8] Cost and Profitability - The cost of sales for 2024 was $50,710,007, leading to a gross operating profit of $43,826,385, compared to $20,292,729 in 2023 [3][5] - Cash costs per ounce were $1,326, slightly up from $1,300 in 2023, while the All-In Sustaining Cost (AISC) was $1,700 per ounce, compared to $1,635 in the previous year [6][5] - The company reported a net cash inflow from operations of $24.5 million after mine development expenditures of $6.3 million, significantly higher than $7.7 million in 2023 [5][7] Cash Position and Investments - Cash held at the end of 2024 was $22.2 million, nearly doubling from $11.6 million at the end of 2023, with net cash after liabilities at $16.2 million [5][10] - The company plans to utilize its cash effectively in 2025 to enhance shareholder value, with a focus on organic growth and potential M&A opportunities [10][18] - The first quarter of 2025 showed strong performance with gold production of 10,013 ounces and cash balances increasing to $26.5 million [11][10] Future Outlook - Serabi aims to increase gold production to between 44,000 and 47,000 ounces in 2025, with a long-term target of 60,000 ounces by 2026 and over 100,000 ounces thereafter [5][12] - The company is actively pursuing exploration programs at the Palito Complex and Coringa, which are expected to contribute to future production growth [12][18] - The renewal of the trial mining license and progress in permitting for Coringa are seen as critical steps in achieving production targets [13][12]

Board Change Serabi Gold plc (“Serabi” or the “Company”) (AIM: SRB, TSX: SBI, OTCQX : SRBIF), announces that on 21 April 2025, Carolina Margozzini, non-executive director and representative director of Fratelli Investments Limited, resigned from the Board of Serabi with immediate effect. The Board of Directors expresses its gratitude to Ms. Margozzini for her significant contributions during her time with the Company. Michael Hodgson, CEO of Serabi, commented: “We thank Carolina for her service and insight ...

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].