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Serabi Gold Plc

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Summary

Project:

Coringa

Deposit:Coringa
Location:Brazil
Commodities:Gold
Date:9/6/2019
Report Code:NI43-101
Report Type:PEA
Project Stage:Mine Development
Report details:6-9-2019: Serabi Gold Plc announces a PEA report for its Coringa deposit at the Coringa project. PEA results incl. post-tax NPV (5%) of US$47.3M, IRR of 31%. Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian focused gold mining and development company,
Resources:(Resource): 0.735Mt @ 8.24g/t Au (Ind.) and 1.645Mt @ 6.54g/t Au (Inf.)
CP/QP:[Resources]: Kevin Gunesch, Hamid Samari (Global Resource Engineering Ltd.)
ABSTRACT:Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian focused gold mining and development company, is pleased to announce the results of a Preliminary Economic Assessment (the “PEA”) for its 100%-owned Coringa Gold Project (“Coringa” or “the Project”), located in Para State, Brazil. The PEA was completed by Global Resource Engineering (“GRE”), Serabi’s independent engineering consultant, who has offices located in Denver, Colorado, USA. The Directors believe that the PEA results fully support their intention to develop a high grade, underground mining operation and the Board intends to assess the financing options available and complete the permitting and licencing processes necessary for development of the Project. The Board expects based on the current expected time-line for the award of licences, that construction could be commenced at the end of the second quarter of 2020, with first gold production being achieved approximately nine months later.

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