Exploration Update - New IP geophysical survey ...

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

                               Exploration Update

              New IP geophysical survey underway at Jardim do Ouro
Serabi Mining plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold
exploration Company, is pleased to provide an update on the Jardim do Ouro
project exploration activities.

A ground based geophysical survey comprised of over 70km of Induced Polarisation
(IP) began on 1 August  The surveyed areas as set out in the diagram cover the
remaining priority anomalies from the initial airborne geophysical survey
undertaken by the company in 2008, the Jamanxim and Calico prospects, being two
new areas identified from the additional airborne survey undertaken earlier in
2011 and an area between the Currutela prospect and the Palito mine where the
Company has had recent drilling success.  Whilst it was originally envisaged to
undertake IP over the remaining priority targets from the 2008 airborne survey
the Company has in the light of its drilling success extended the survey and in
particular to encompass the "Espeto" prospect following the success of drill-
hole PDD470 as reported on 15 July 2011.

The positive drilling results at the Currutela prospect, along with re-
processing of aeromagnetic data, indicated the potential for structural
continuity between Currutela and the existing Palito gold resource extending
over some 1.6km.  The potential for structural and mineralized continuity was
enhanced by the intersection in PDD470 of multiple zones of hydrothermally
altered granite, similar to previously reported intercepts at Palito and
Currutela. PDD 470 is the first drill hole into the Espeto target which lies
along strike to the southwest of Palito approximately midway between Currutela
and Palito.

Mike Hodgson commented: "Serabi places a high level of importance in Induced
Polarisation (IP) surveying, for helping define valid drill targets in the
Jardim do Ouro (JDO) project area, and maximising our confidence in the
potential of geophysical anomalies before drilling.  Whilst we are very
encouraged by the single hole that we have drilled into the Espeto target, it
makes sense to complement our existing geological and geophysical understanding
with additional IP before embarking on further drilling.  We have deployed the
contractor to this area initially and anticipate that the results will greatly
enhance target definition and future drill planning".

Drilling continues with two drilling rigs on the Phase 1 discovery drilling
programme at Currutela, Lazaro, Pele and Tatu targets. Drilling results for the
remaining Currutela drill holes along with Lazaro and Pele will be reported when
received and compiled by the Company's exploration team.

[See link at end of release to access diagram]
Figure showing the contoured 2010 IP survey results, the mine site drill
targets, plus the forthcoming IP survey lines.



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]



 Fox Davies Capital Ltd

 UK Broker

 Simon Leathers                    Tel: [phone]

 Jonathan Evans                    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

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

ENDS




Figure showing forthcoming IP survey lines: 


http://hugin.info/137617/R/1537667/469421.jpg




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Source: Serabi Mining plc via Thomson Reuters ONE

[HUG#1537667]