Correction - Geochemical results from Piaui dri...

SERABI MINING plc
                          ("Serabi" or "the Company")

           GEOCHEMICAL RESULTS FROM THE PIAUI DRILL TARGET AT PALITO

                PIAUI IS THE FIRST OF NINE TARGETS TO BE DRILLED

Serabi  Mining  plc,  the  AIM-traded  gold  exploration  company, is pleased to
release  results of  further geochemical  work performed  around the Piaui drill
target at Palito.

Initial  trenching work has  been undertaken over  the prospect and first assays
results  reported  by  Eco  Tech  Laboratory  in  Vancouver,  Canada  have  been
received.   Trench  TC052  was  excavated  over  a  length of 237 metres, with a
maximum  depth of 5 metres  and perpendicular to  the strike of  the anomaly and
encountered  a near-surface intersection of an area of brecciated quartz veining
and weathered sulphide material.  (A location map is appended to this release)

Assays of material taken from the trench returned assays as set out below:

Results of Trench TC052 (primary intervals calculated by applying average
0.5g/t Au cut-off)

  From |   To | Length | Weighted average g/t Au
   (m) |  (m) |    (m) |
-------+------+--------+-------------------------
    23 |   24 |      1 |                    3.52
-------+------+--------+-------------------------
    28 |   32 |      4 |                    1.56
-------+------+--------+-------------------------
  33.5 | 34.5 |      1 |                   33.60
-------+------+--------+-------------------------
  71.2 | 74.4 |    3.2 |                   16.16


The  Piaui anomaly is currently  being drilled and is  the first of nine targets
that  will  be  drilled  in  the  Company's  initial  7,500m discovery  drilling
programme  which commenced late last year.  A programme of 8 diamond drill holes
has  been designed to  test the depth  extent of these  trench intersections and
target the centre of the modeled IP chargeability anomaly.

Mike Hodgson, Chief Executive, commented:

"This   trenching  work  is  very  encouraging  and  has  further  enhanced  the
prospectivity of this robust anomaly at Piaui.

The  ground  induced  polarisation  survey  that  we undertook earlier this year
allowed  us to  create 3-D  wireframe models  for chargeability, resistivity and
conductivity  anomalies  respectively.   Piaui  is  one  of  the  targets  where
significant  chargeability anomalies were identified of  a similar tenor to that
of  the  known  Palito  Main  Zone  mineralisation.  Further  trenching and deep
geochemistry  programmes  are  underway  and  will  continue  on  the  remaining
prospects, in parallel to the current drilling programme."

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]



 Fraser Mackenzie Limited
 Canadian Broker

 JC St-Amour                       Tel: [phone]



 Hybridan LLP
 UK Broker

 Claire Noyce                      Tel: [phone]



 Farm Street Communications
 Public Relations

 Simon Robinson                    07593 340107


Copies   of   this   release   are   available   from   the   company's  website
www.serabimining.com.


Forward-looking statements
This press release includes certain forward-looking statements. All statements,
other than statements of historical fact, included herein, including without
limitation, statements regarding the future plans and objectives of Serabi, are
forward-looking statements that involve various known and unknown risks and
uncertainties as well as other factors. Such forward-looking statements are
subject to a number of risks and uncertainties that may cause actual results or
events to differ materially from current expectations, including delays in
obtaining or failure to obtain required regulatory approvals. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Any forward-looking statements speak only as of the date hereof and, except as
may be required by applicable law, Serabi disclaim any obligation to update or
modify such forward-looking statements, either as a result of new information,
future events or for any other reason.

Qualified Persons Statement

The  information  contained  within  this  announcement  has  been  reviewed and
verified  by Michael Hodgson as required by the AIM Guidance Note on Mining. Oil
and Gas Companies dated March 2006.  Michael Hodgson is an Economic Geologist by
training with 20 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

Glossary

"Au"                           Gold

"g/t"                          Grams per tonne

"induced polarization" or "IP" a   geophysical  technique  whereby  an  electric
                               current  is induced into  the sub-surface and the
                               conductivity of the sub-surface is recorded

3-D                            three-dimensional


ENDS






Loaction map for trench TC052: 


http://hugin.info/137617/R/1491311/426947.jpg




This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Serabi Mining plc via Thomson Reuters ONE

[HUG#1491311]