Release of Updated Technical Report

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

RELEASE OF UPDATED TECHNICAL REPORT

The Board of Serabi Mining plc, the AIM-listed gold exploration company, is
pleased to advise that NCL Brasil Ltda ("NCL") has completed and issued a new
Technical Report in respect of the Palito Gold Mine and the surrounding Jardim
do Ouro exploration tenements.  The report was commissioned in anticipation of
the Company's previously announced intention to make a listing application to a
Canadian stock exchange.


Mike Hodgson, Chief Executive, commented:

"This report is an update to the Technical Report issued by NCL in September
2008.  The previously declared mineral resources have not been re-estimated in
light of the limited mining and additional drilling on the Palito mine itself
subsequent to the last estimation and remain as Measured and Indicated
Resources* of 224,272 ounces (gold equivalent) and Inferred Resources* of
443,956 ounces (gold equivalent). The report has been prepared in compliance
with the Canadian regulation NI 43-101 and its completion is a key milestone in
the process for making a listing application to a Canadian stock exchange.

*Note: Serabi owns 100% of the Palito Gold Mine and surrounding Jardim do Ouro
exploration tenements. Accordingly, gross and net resources are the same.


A copy of the new Technical Report has been posted on the Company's website at
www.serabimining.com



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



Copies of this release are available from the company's website
www.serabimining.com.


Competent Persons

The technical information in this announcement and the Technical Report was
prepared in compliance with the Canadian regulation NI 43-101 in accordance with
the rules of the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM"),
which is an internationally recognised standard pursuant to the Rules.

The information in this Stock Exchange regulatory announcement that relates to
Mineral Resources has been compiled by Mr Rodrigo Mello, MAusIMM, who carried
out the assignment as a consultant for the firm NCL Brasil Ltda, and who is a
member of the Australasian Institute of Mining and Metallurgy and a registered
Geologist with the Regional Council of Engineering, Minas Gerais. Mr Mello is
familiar with NI 43-101 and, by reason of education, experience and professional
registration, fulfils the requirements of a Qualified Person as defined in NI
43-101.  Mr Mello is responsible for the preparation of Sections 1 to 15, 17,
and 19 to 21 of the Technical Report. Mr Mello consents to the publication of
the Technical Report and the inclusion of the information contained in this
announcement in the form and context and in which it appears.

Additional information in this Stock Exchange regulatory announcement has been
compiled by Mr Eduardo Rosselot, CEng MIMMM, who carried out the assignment as
an associate consultant for the firm NCL Ingeniería y Construcción Ltda, and who
is a practicing mining engineer, a Chartered Engineer and a member of The
Institute of Materials, Minerals and Mining and a professional member of Colegio
de Ingenieros de Chile. Mr Rosselot is familiar with NI 43-101 and, by reason of
education, experience and professional registration, fulfils the requirements of
a Qualified Person as defined in NI 43-101.  Mr Rosselot is responsible for the
preparation of Sections 16 and 18 of the Technical Report and the inclusion of
the information contained in this announcement in the form and context and in
which it appears

Glossary of terms used in the Announcement:

"Mineral Resource" is a concentration or occurrence of material of intrinsic
economic interest in or on the Earth's crust in such form, quality and quantity
that there are reasonable prospects for eventual economic extraction. The
location, quantity, grade, geological characteristics and continuity of a
Mineral Resource are known, estimated or interpreted from specific geological
evidence and knowledge. Mineral Resources are sub-divided, in order of
increasing geological confidence, into Inferred, Indicated and Measured
categories.

An "Inferred Mineral Resource" is that part of a Mineral Resource for which
tonnage, grade and mineral content can be estimated with a low level of
confidence. It is inferred from geological evidence and assumed but not verified
geological and/or grade continuity. It is based on information gathered through
appropriate techniques from locations such as outcrops, trenches, pits, workings
and drill holes which may be limited or of uncertain quality and reliability.

An "Indicated Mineral Resource" is that part of a Mineral Resource for which
tonnage, densities, shape, physical characteristics, grade and mineral content
can be estimated with a reasonable level of confidence. It is based on
exploration, sampling and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings and drill
holes. The locations are too widely or inappropriately spaced to confirm
geological and/or grade continuity but are spaced closely enough for continuity
to be assumed.

 A "Measured Mineral Resource" is that part of a Mineral Resource for which
tonnage, densities, shape, physical characteristics, grade and mineral content
can be estimated with a high level of confidence. It is based on detailed and
reliable exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits, workings
and drill holes. The locations are spaced closely enough to confirm geological
and grade continuity.


ENDS







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Source: Serabi Mining plc via Thomson Reuters ONE

[HUG#1475317]


Unternehmen: Serabi Mining plc - ISIN: GB00B074J639