Discussion of airborne geophysical survey results over the Sao Domingos tenement and Financial Calendar for 2022

21.02.2022  |  GlobeNewswire

For immediate release

21 February 2022

Serabi Gold Plc
("Serabi" or the "Company")

Mike Hodgson discusses airborne geophysical survey results over the Sao Domingos tenement.
Financial Calendar for 2022

Serabi Gold Plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, advises that Mike Hodgson, CEO of Serabi, has conducted an interview with BRR Media in which he discusses the recently announced airborne geophysical survey that covers the Sao Domingos tenement acquired by Serabi in 2020. The completion of the survey is an important milestone for the Company as it means the entire Palito complex has airborne geophysical coverage.

The Company also sets out its expected financial reporting timetable for 2022.

A link to the interview can be accessed using the following link https://www.brrmedia.co.uk/broadcasts/620e141526d01a4c0553ef6e/serabi-gold-update-on-sao-domingos/

Highlights of the Sao Domingos Survey

• Serabi acquired the Sao Domingos concession in late 2019, a prospective area with multiple gold occurrences and artisanal activity, but no systematic exploration to date.
  
  
• Results show the Mata Cobra magnetic trend that dominates the central part of the Palito Complex and has coincidental anomalous copper and gold in soils, extends into the Sao Domingos property.
  
  
• The Sao Domingos extension of the magnetic trend is coincident with many of the significant mineral occurrences and artisanal mining activity past and present.
  
  
• The Toucano trend is one such mineral occurrence area of artisanal mining, which Serabi drilled prior to the airborne survey. Initial drilling into the Toucano prospect at Sao Domingos recorded some very high intersections including visible gold in hole 21-SD-010 which returned a number of intersections including 7.15 metres at 258.24 grammes per tonne ("g/t") of gold (news release dated 7 April, 2021)
  
  
• The analysis of the survey data is continuing, with multiple new targets now delineated for follow up exploration, as the survey brings much greater clarity and focus to the exploration effort going forward.
  
  

Financial Reporting Calendar 2022

The Company also advises that it will continue to report quarterly unaudited financial results during the year. The Company anticipates that its reporting calendar for 2022 will be:

The person who arranged for the release of this announcement on behalf of the Company was Clive Line, Director.

Enquiries:

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

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

See www.serabigold.com for more information and follow us on twitter @Serabi_Gold

Qualified Persons Statement
The scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 26 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, recognising him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.

Forward Looking Statements
Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations, or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.

ENDS