Serabi Gold - Unlocking the Tapajos Region's Copper-Gold Potential

• Serabi Gold provided an exploration update on its regional tenement holding over the Palito complex in the Tapajos region of Para State, Northern Brazil.
• Highlights include identifying a robust chargeability anomaly at the São Domingos property, making significant progress interpreting the soil geochemistry database covering over 70% of Serabi's permit portfolio, and completing first phase drilling on the Ganso Target which indicates a large zone with features characteristic of a copper porphyry system.
• Recent diamond drilling at the Matilda prospect demonstrates mineralization extends to over 150m depth. Hole 23-MT-021 intersected 144m @ 0.26% Cu from 228m and 32m @ 0.40% Cu and 0.10 g/t Au from 410m.
• Matilda continues to deliver positive results and the wider exploration results show it is not unique - the regional geological system has more potential for copper porphyry mineralization than expected.
• While Vale has informed Serabi it is withdrawing from their exploration alliance, other groups are keen to partner on exploring for copper in Serabi's Tapajos tenements. Serabi remains excited about the prospects.

About Serabi Gold

Serabi Gold plc is a Brazilian-focused gold mining and development company. The Company's primary assets are its Palito Mining Complex and the Coringa Gold Project located in the Tapajos region of northern Brazil. Serabi has been operating the Palito project since 2004, with commercial production declared in 2015. The nearby Coringa project was acquired in 2017 and is being advanced towards production. The Company also has an extensive portfolio of prospective exploration tenements in the region.

Exploration Update Highlights Copper Porphyry Potential

In its latest press release, Serabi provided an encouraging update on its ongoing exploration activities over its regional tenements surrounding the Palito Mining Complex. A key highlight was the identification of a robust chargeability anomaly at the São Domingos property from an Induced Polarization (IP) geophysical survey completed in December 2023.

The 1km x 0.25km anomaly underlies several areas of artisanal mining activity. Limited auger drilling has already returned some significant gold intercepts including 1m @ 18.46 g/t Au. This new data, combined with high-grade drill results from 2021, make São Domingos a compelling target that Serabi believes is closer to identifying the source of the extensive artisanal mining in the area.

Interpretation of Serabi's extensive regional soil geochemistry database also made significant advancements. Covering over 70% of the Company's tenement portfolio, the database totals over 14,500 samples, approximately 7,000 of which were collected in 2023 alone. In addition to the promising Matilda copper target, at least four similar geochemical alteration systems have now been identified.

Ganso Target Emerges as Potential Copper-Gold System

First phase drilling was recently completed on the Ganso Target, located just 13km from the Matilda discovery. Highly encouraging, the drilling indicates Ganso hosts a large zone with geologic features and mineralogy characteristic of an upper alteration zone typical of a copper porphyry system.

CEO Mike Hodgson commented, "This is important, not only for Serabi but also for the entire Tapajos region, as it confirms that despite the old age of the rocks, the region has a huge untested potential as a source of porphyry style copper or copper-gold and epithermal gold mineralization."

Matilda Continues to grow

Meanwhile, the Company's Matilda prospect continues to deliver positive results. Recent diamond drilling demonstrates copper mineralization extends to depths of over 150m. Hole 23-MT-021 intersected 144m grading 0.26% Cu from 228m depth, including a higher grade zone of 32m at 0.40% Cu and 0.10 g/t Au from 410m downhole depth.

Excitement Remains High Despite Vale's Withdrawal

Subsequent to the results reported in this release, Serabi's joint venture partner Vale notified the Company of its decision to withdraw from the exploration alliance. However, this has not dampened Serabi's enthusiasm for the potential of the district.

CEO Hodgson stated, "Whilst Vale have, during this week, informed us that they wish to withdraw from the exploration alliance, we do have a number of other groups keen to partner with us on the exploration for copper mineralization. We remain excited, and these other companies seem to share our optimism, for discovering commercial copper porphyry mineralization in our Tapajos tenements."

Serabi very much enjoyed working with Vale over the past 12 months and made significant advancements in understanding the Matilda prospect as well as identifying a pipeline other potential porphyry targets.

Conclusion

For investors following the Serabi Gold story, this latest news release provides further evidence that the Tapajos region, and Serabi's extensive tenement portfolio in particular, is quickly emerging as an exciting new district-scale copper-gold opportunity.The exploration results reported, headlined by the continued growth of the Matilda discovery and the identification of the Ganso porphyry target, continue to demonstrate the potential for the discovery of multiple copper porphyry and associated high-grade gold systems in the region.

With a dominant and prospective land position, a strong operational track record of gold production at Palito, and a growing pipeline of copper and gold targets, Serabi appears well-positioned to potentially unlock this potential in the months and years ahead. The loss of Vale as an exploration partner, while disappointing, is unlikely to slow the Company's aggressive exploration efforts which remain fully-funded.

As Serabi continues to advance exploration in this exciting emerging copper-gold district, investors can anticipate a steady stream of news flow as the Company systematically advances key targets like Matilda and Ganso. At the same time, ongoing regional programs are expected to continue generating additional high-quality targets. With the potential for multiple copper porphyry and high-grade gold discoveries, the Tapajos region is unquestionably a district that copper and gold investors will want to follow closely in the months and years ahead.