SERABI GOLD plc ('Serabi' or 'the Company') Board Appointment

LONDON -- (Marketwire) -- 12/19/11 -- Serabi Mining plc (AIM: SRB) (TSX: SBI) (TSX: SBI.WT), the Brazilian focused gold exploration Company, is pleased to announce that Christopher Kingsman has been appointed as a Non-Executive Director of the Company with immediate effect.

Christopher David Kingsman, aged 36, has worked in investment management since graduating from Cambridge University in 1998. He began his career at Fidelity Investments in London and has worked for both fundamentally and macro focused investment firms during 1998 and 2005. Since 2005 he has managed a private family office, including significant stakes and directorships in private companies, as well as managing a non-profit company. His current directorships are in the areas of investment management, business research (aranca.com), real estate and the charitable sector.

Christopher has an MA Cantab, having read Social & Political Studies at St. John's College, Cambridge. He also holds the IIMR investment management certificate.

The directorships and / or partnerships held by Christopher Kingsman in the previous five years are as follows:

Current                                         Past
----------------------------------------------------------------------------
Greenwood Investments Ltd                       MoVa Investment Partners LLP
IIE Immergrün Immobilien- Entwicklungs GmbH
AF Colina GmbH
Aneca Vermögensverwaltungs GbR
Nicea gemeinnützige GmbH
Aranca (Mumbai) Limited

Greenwood Investments Limited ('Greenwood'), the entire share capital of which is beneficially owned by Christopher Kingsman, is interested in 11,590,000 Serabi Ordinary Shares representing 18.08 per cent. of the issued share capital of Serabi, together with 5.0 million Warrants to subscribe for new Serabi Ordinary Shares on or before 2 December 2012 at an exercise price of C$0.75 per Serabi Ordinary Share.

In addition, in October 2009 Greenwood entered into a convertible loan agreement with the Company ('Convertible') under which Greenwood made available a facility of £300,000 to the Company. On 16 December 2009, the Company had drawn down the full amount of the Convertible. The full amount of the Convertible is convertible at the election of Greenwood into new Serabi Ordinary Shares at an exercise price of 15p per Serabi Ordinary Share at any time on or before 31 October 2014. A maximum of 2,100,123 new Serabi Ordinary Shares may be issued on conversion of the Convertible and settlement of the accumulated interest over the life of the Convertible Loan of £15,018.42. The Convertible is unsecured and pays a coupon of one per cent. per annum and, unless otherwise converted, will be repaid on 31 October 2014.

There is no further information on Christopher Kingsman required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

Enquiries:

Serabi Gold plc
Michael Hodgson                     Tel: +44 (0)20 7246 6830
Chief Executive                     Mobile: +44 (0)7799 473621

Clive Line                          Tel: +44 (0)20 7246 6830
Finance Director                    Mobile: +44 (0)7710 151692

Email: contact@serabigold.com
Website: http://www.serabigold.com/

Beaumont Cornish Limited
Nominated Adviser
Roland Cornish                      Tel: +44 (0)20 7628 3396
Michael Cornish                     Tel: +44 (0)20 7628 3396

Fox Davies Capital Ltd
UK Broker
Simon Leathers                      Tel: +44 (0)20 3463 5010
Jonathan Evans                      Tel: +44 (0)20 3463 5010

Farm Street Communications
Public Relations
Simon Robinson                      Tel: +44 (0)7593 340107

Fig House Communications
Investor Relations
Rebecca Greco                       Tel: + 1 416 822 6483

Copies of this release are available from the Company's website at www.serabigold.com and www.serabimining.com

Forward-looking statements
This press release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as 'anticipate', 'believe', 'plan', may', 'could', 'would', 'might' or 'will', 'estimates', 'expect', 'intend', 'budget', 'scheduled', 'forecasts' and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent annual information form filed with the Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Qualified Persons Statement
The information contained within this announcement has been reviewed and verified by Michael Hodgson, CEO of the Company. Mr Hodgson is an Economic Geologist by training with over 25 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining. Oil and Gas Companies dated March 2006.

Quality Assurance and Quality Control Procedures Disclosure

The Company has implemented and maintains a Serabi quality assurance/quality control (QA/QC) protocol at its JDO Project as defined in its 'NI 43-101 Technical Report for the Jardim Do Ouro Project, Para State, Brazil' dated 22 December 2010. This ensures best industry practice in sampling and analysis of exploration and resource definition samples. The insertion of field duplicates, certified standards and blank samples into the sample stream form part of the Serabi procedure (these act as an independent check on contamination, precision and accuracy in the analytical laboratory).

Assay results are reported once rigorous QAQC procedures have been approved

Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.

Serabi Mining plc

Email: contact@serabigold.com

Website: http://www.serabigold.com/