Result of General Meeting - Completion of Escrow Release Conditions

SERABI MINING plc
("Serabi" or "the Company")

Result of General Meeting
Completion of Escrow Release Conditions


Serabi Mining plc announces that at the General Meeting of the Company held on
21 December 2010,shareholders approved the ordinary resolution proposed in the
notice of meeting dated 3 December 2010 (the "Resolution") for the consolidation
of the all of the issued and unissued ordinary shares of Company on the basis of
one new ordinary share of 5 pence each ("New Ordinary Shares") for every ten
existing ordinary shares of 0.5 pence each ("Existing Ordinary Shares").

The Company's registrar will as of close of business today make the necessary
adjustment to the register of shareholders and the Existing Ordinary Shares will
cease to be traded on AIM as of close of business today.  Dealings in the New
Ordinary Shares of the Company will commence at 8.00 am on 22 December 2010.
With effect from 22 December 2010 the number of New Ordinary Shares in issue
will be 44,774,059 and the total number of New Ordinary Shares in the Company
with voting rights is 44,774,059.

The above figure of 44,774,059 New Ordinary Shares may be used by shareholders
in the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial Service
Authority's Disclosure and Transparency Rules.

The passing of the Resolution also satisfies the escrow release conditions
relating the issue of Special Warrants announced on 3 December 2010.  In
accordance with the terms on which the Special Warrants were issued the proceeds
net of certain expenses (which amounted to approximately $396,000) had been
placed in escrow pending the approval of the shareholders of the Company of the
Resolution.  Subject to the notification by the Directors of Serabi to
Computershare Trust Company of Canada (who is acting as trustee for these funds)
that the escrow release condition has been satisfied, the proceeds will be
released to the Company.


Enquiries

Serabi Mining plc

Michael Hodgson Tel: 020 7246 6830

Chief Executive Mobile: 07799 473621



Clive Line Tel: 020 7246 6830

Finance Director Mobile: 07710 151692



Email: contact@serabimining.com

Website:  www.serabimining.com



Beaumont Cornish Limited
Nominated Adviser

Roland Cornish Tel: 020 7628 3396

Michael Cornish Tel: 020 7628 3396



Fraser Mackenzie Limited
Canadian Broker

JC St-Amour Tel: 1 416 955 4777



Hybridan LLP
UK Broker

Claire Noyce Tel: 020 7947 4350



Farm Street Communications
Public Relations

Simon Robinson 07593 340107



ENDS







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Source: Serabi Mining plc via Thomson Reuters ONE

[HUG#1474642]


Unternehmen: Serabi Mining plc - ISIN: GB00B074J639