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Serabi Gold Plc

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Summary

Project:

Coringa

Deposit:Coringa
Location:Brazil
Commodities:Gold
Date:3/4/2019
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Mine Development
Report details:4-3-2019: Serabi Gold Plc announces a Resource Estimation report for its Coringa deposit at the Coringa project. Updated mineral resource estimate at the project. Serabi Gold (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, i
Resources:(Resource): 845Kt @ 7.95g/t Au (Ind.), 1.436Mt @ 6.46g/t Au (Inf.)
CP/QP:[Resources]: Kevin Gunesch, Hamid Samari (Global Resource Engineering Ltd.)
ABSTRACT:Serabi Gold (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, is pleased to announce updated Mineral Resource estimates for its Coringa gold project (“Coringa”), prepared in accordance with the standard of CIM and Canadian National Instrument 43-101 with an effective date of March 4, 2019 as outlined below. Mike Hodgson, CEO of Serabi, commented: “The fourth quarter 2018 resource drilling campaign has resulted in a very pleasing 37% increase in total geological resource at Coringa. Total resources now exceed 500,000 ounces at over 7 g/t gold, a substantial improvement on the previous estimate of 370,000 ounces from May 2017. “We see Coringa as a Palito Complex look-a-like, where, as is common with many narrow vein mines, we have maintained a resource level of approximately 500,000 ounces whilst producing over 270,000 ounces of gold since that operation began. I therefore consider a 500,000 ounce resource as an excellent starting point for Coringa, certainly enough to support a quality, operation of similar size to the Palito Complex. “Further drilling is being completed at Coringa which will, hopefully, further enhance this resource estimate and will be incorporated into the PEA results that we expect to be published before the end of the second quarter.”

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