Serabi Gold Advances Resource Growth Strategy with Strong 2025 Brownfield Drilling Results

• Serabi Gold is midway through a $9 million, 30,000-meter brownfield drilling campaign across its Palito Complex and Coringa operations in Brazil's Tapajós region.
• The company discovered a new orebody at Coringa's Serra South zone, located approximately 500 meters south of the existing Serra mine infrastructure.
• Significant extensions of the Senna orebody at Palito Complex demonstrate continued mineralization both north and south of the previously mined area.
• The drilling program aims to grow Serabi's mineral inventory from approximately 1 million ounces to 1.5 million ounces or more as part of its strategy to become a 100,000+ ounce annual producer.
• Recent geophysical surveys have identified multiple new targets with unusual anomaly combinations that indicate highly prospective drilling opportunities for future resource expansion.

Serabi Gold plc is a Brazilian-focused gold exploration, development and production company operating in the prolific Tapajós region of Pará State, Northern Brazil. The company has consistently produced 30,000 to 40,000 ounces annually from its Palito Complex and is planning to double production through the ramp-up of its Coringa Gold project. Headquartered in the United Kingdom with a secondary office in Toronto, Serabi recently made a copper-gold porphyry discovery on its extensive exploration license and trades on AIM (SRB), TSX (SBI), and OTCQX (SRBIF).

Strategic Context & Program Overview

Serabi's 2025 brownfield exploration program represents a critical component of Phase II of the company's growth strategy. The $9 million investment is evenly divided between the Palito Complex and Coringa operations, with each location receiving 15,000 meters of diamond drilling.

At the program's midpoint, the company has completed significant portions of planned work at both locations. At Coringa, 13,800 meters of the planned 16,000 meters have been completed across 64 drill holes, with 25 holes returning grades exceeding 3.0 g/t gold. At Palito Complex, 10,400 meters have been completed across 35 drill holes using two active rigs.

CEO Mike Hodgson emphasized the program's success, stating:

"We've seen numerous exciting developments through our 2025 brownfield exploration programme, especially at Coringa, where the discovery of the Serra South zone, approximately 500 meters south of the Serra mine, is a notable highlight."

Major Discovery at Coringa: Serra South Zone

The most significant development from the 2025 program has been the discovery of the Serra South zone at Coringa. This new orebody is located approximately 500 meters south of current Serra mine infrastructure and is currently undergoing detailed definition drilling with three rigs operating on a 50-meter grid spacing.

Initial drilling results from Serra South have yielded exceptional grades, including hole 25-SR-010 which returned 0.53 meters at 151.00 g/t gold from 60.68 meters depth. Additional high-grade intercepts include hole 25-SR-028 with 0.87 meters at 137.48 g/t gold, including a 0.32-meter section grading 322.10 g/t gold.

The discovery extends beyond immediate resource additions. Serabi is testing the corridor between the Serra mine and Serra South zone with step-out holes at 200-meter intervals to assess the feasibility of connecting both zones via underground development. This approach could optimize future capital and operational efficiencies by utilizing shared infrastructure.

Drilling has demonstrated that the Serra South zone remains open at depth and extends the strike by at least 300 meters. The company plans to continue drilling at this target through year-end, with results to be compiled and verified by NCL Ingeniería y Construcción SpA of Santiago de Chile.

Resource Extension Success at Palito Complex

The Palito Complex program has focused primarily on the Senna target, which contributed significantly to current ore production and was previously mined between 2015-2019. Drilling has confirmed mineralization extensions both north and south of the existing orebody.

Notable intercepts from Senna include hole 25-SE-004 returning 1.36 meters at 17.99 g/t gold from 195.50 meters depth, including a high-grade section of 0.33 meters at 58.40 g/t gold. Hole 25-SE-001 intersected 3.40 meters at 6.64 g/t gold from 274.00 meters depth, including a 0.60-meter section grading 26.80 g/t gold.

Hodgson noted the significance of these results:

"The success is not limited to Coringa, as at Palito Complex, we focused on the Serra zone, which was mined during 2013-2017. The zone was always open along strike, but wasn't drilled until now due to previous cash constraints."

Beyond Senna, the program has tested IP chargeability anomalies at the Onça, Jiboia, and Mutum targets, interpreted as northwest extensions of the Senna and Piaui orebodies. The Onça target has produced the strongest intercept to date with 0.65 meters at 8.18 g/t gold, opening a prospective 500-meter corridor connecting Onça with the Piaui target.

Geophysical Survey Results Generate New Targets

Serabi has completed extensive geophysical programs at both operations. At Palito Complex, an Induced Polarisation survey completed in December 2024 generated several new targets that were subsequently drilled in 2025. The IP anomalies have proven effective for targeting quartz-sulfide-gold vein systems in the region.

At Coringa, the company completed a 90-kilometer IP survey that generated several new targets with unusual characteristics. Most notably, certain anomalies display coincident high chargeability and conductivity values, a rare combination that indicates highly prospective drilling targets.

The southwestern portion of the Coringa survey area includes historically active artisanal mining sites, notably Demétrio and Sr. Domingos, which have long been recognized as prospective zones. Initial interpretation has identified anomalies that correlate strongly with existing geochemical and structural data.

Technical Program Details & Methodology

The comprehensive exploration program extends beyond diamond drilling to include multiple complementary techniques. At Coringa, the program includes a soil sampling grid with approximately 5,000 samples for multi-element geochemical analysis, the IP geophysical survey, and a high-resolution LiDAR topographic survey.

Assay results reported include those from Serabi's on-site laboratory facilities at Palito, which the company monitors against independent laboratory results for quality control. Since mid-2019, over 10,000 exploration drill core samples have been assayed at both