2011 AIRBORNE GEOPHYSICAL SURVEY RESULTS

SERABI MINING plc

                          ("Serabi" or "the Company")

                    2011 AIRBORNE GEOPHYSICAL SURVEY RESULTS

Serabi Mining plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold
exploration company, is pleased to announce the results of an airborne
geophysical (VTEM) survey conducted in January 2011 identifying an additional
47 conductive Electromagnetic (EM) anomalies at its Jardim do Ouro (JDO) Project
in the Tapajos region of Brazil.


Mike Hodgson, Chief Executive, commented:

"We believe the use of airborne geophysics is an essential part of the formula
for discovering concealed gold mineralization in the Tapajos.  The results of
the 2008 airborne survey indicated 66 EM anomalies and follow up exploration to
date on 13 of these indicated nine mine-site drill ready targets.  An 8,000
metre diamond drill programme is now well underway on these targets, as well as
follow-up exploration on remaining un-tested anomalies.  I am therefore very
pleased that this 2011 survey has resulted in generating a further 47 anomalies
for follow-up work, which we plan to commence this year".

Two blocks, contiguous to the 2008 survey area were flown, for a total of 1,250
line kilometers covering an area of approximately 8,000 Ha of combined
VTEM/aeromagnetic/radar altimeter survey.  This augments the survey completed in
2008 which covered an area of 6,000 Ha, the results of which have been the
cornerstone of Serabi's exploration success over the last 2 years.

A total of 47 discrete, conductive electro-magnetic anomalies have been defined,
with 22 anomalies defined in Block 1 and 25 in Block 2.  Significantly, clusters
of anomalies occur on the same north-west and south-east and east-west trending
structural lineaments that we have identified at the Palito deposit.  Figure 1
shows the 2008 airborne survey area with contoured magnetic data, along with the
two blocks surveyed in 2011.

As follow-up to the new survey and a number of the remaining untested EM
anomalies from the 2008 survey, Serabi has programmed a series of ground based
induced polarization (IP) survey grids.

Figure  1:  Plan showing 2011 VTEM survey areas  and anomalies along with imaged
magnetic data (RTP) from the 2008 survey and identified target zones.
It is anticipated that approximately 55 line kilometers of 200m spaced
traverses, covering several of the EM conductors, as well as extending previous
IP survey grids, will commence in the third quarter of 2011. Results and
modeling are expected to define further exploration drill targets in the fourth
quarter 2011.

 In addition to the VTEM survey, the magnetic data from the 2008 and 2011
airborne geophysical survey have been integrated and re-processed and the
results (shown in Figure 2) have had a significant impact on the structural
interpretation of the JDO project area.  The mineralization at Palito is
structurally controlled, and consistently follows the 310(°) regional strike
observed in the Tapajos.  The main zone of the Palito resource, has been traced
over a strike length of around 1km; however, the re-processing of the magnetic
datasets suggest the structural zone that hosts the main Palito deposit may well
be substantially longer than originally interpreted, possibly extending as far
to the south-east as the Currutela target currently being drilled.  The re-
interpretation also suggests a number of sub-parallel trending lineaments also
exist.  These also exhibit substantially greater strike lengths than first
thought.

Figure  2:  Aeromagnetic (RTP)  image showing  interpreted structural trends and
VTEM conductors.


Enquiries:


 Serabi Mining plc

 Michael Hodgson                   Tel: [phone]

 Chief Executive                   Mobile: [phone]



 Clive Line                        Tel: [phone]

 Finance Director                  Mobile: [phone]



 Email: [e-mail]

 Website:  www.serabimining.com



 Beaumont Cornish Limited

 Nominated Adviser

 Roland Cornish                    Tel: [phone]

 Michael Cornish                   Tel: [phone]



 Hybridan LLP

 UK Broker

 Claire Noyce                      Tel: [phone]



 Farm Street Communications

 Public Relations

 Simon Robinson                    Tel: [phone]



 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.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

ENDS







Aeromagnetic (RTP) image showing interpreted structural trends: 


http://hugin.info/137617/R/1517678/454197.pdf

Plan showing 2011 VTEM survey areas and identified target zones: 


http://hugin.info/137617/R/1517678/454196.pdf




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Source: Serabi Mining plc via Thomson Reuters ONE

[HUG#1517678]