Allotment of Shares

Serabi Mining plc
02 August 2006


SERABI MINING PLC - Allotment of Shares to Directors


Serabi Mining plc ('the Company') announces that pursuant to arrangements
entered into prior to the admission of the Company's shares to trading on AIM in
May 2005 and disclosed in its Admission document, the Company has approved the
allotment of 816,666 ordinary shares of 10p each ('Shares') in which certain
Directors of the Company will have the following beneficial interests.


            Mr W M Clough                    300,000

            Mr C M Line                      283,333

            Mr G S Roberts                   233,333


The Shares have been allotted and issued in satisfaction of bonus awards to each
of the above prior to the Company's admission to AIM, as disclosed in the
Company's admission document issued at that time.


In the case of Mr Line and Mr Roberts the Shares are to be issued to personal
pension plans held by those individuals. In the case of Mr Clough the Shares are
to be issued to WM Clough Pty Limited, a company wholly owned by Mr Clough.


As a result of the above allotment the beneficial interests of each of the
Directors in the issued share capital of the Company is as follows:


                                                        No of                    Percentage of issued
                                              Ordinary shares                    issued share capital

Bill Clough                                        45,328,617                           40.97%
Graham Roberts                                        845,834                            0.76%
Clive Line                                            283,333                            0.26%



Application has been made for the new Shares to be admitted to trading on AIM.
Admission is expected to occur at 8am on 7 August 2006. The total number of
Shares in issue following the allotment and issue of the new Shares will be
110,651,608.



For further information please contact:


Graham Roberts                               Tel: [phone]

Chairman


Clive Line                                   Tel: [phone]

Finance Director


Email:   [e-mail]

Web:    www.serabimining.com



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