Holding in Company

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

                Substantial Shareholder Notification

The Company was informed on 8 December 2009 of the following:



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| For filings with the FSA include the    |                         |
| annex                                   |                         |
|-----------------------------------------+-------------------------|
| For filings with issuer exclude the     |                         |
| annex                                   |                         |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                   |
|-------------------------------------------------------------------|
|                                                |                  |
|------------------------------------------------+------------------|
| 1. Identity of the issuer or the underlying    |                  |
| issuer                                         |    SERABI MINING |
| of existing shares to which voting rights are  |              PLC |
| attached: ii                                   |                  |
|-------------------------------------------------------------------|
| 2 Reason for the notification (please tick the appropriate box or |
| boxes):                                                           |
|-------------------------------------------------------------------|
| An acquisition or disposal of voting rights              |   X    |
|----------------------------------------------------------+--------|
| An acquisition or disposal of qualifying financial       |        |
| instruments which may result in the acquisition of       |        |
| shares already issued to which voting rights are         |        |
| attached                                                 |        |
|----------------------------------------------------------+--------|
| An acquisition or disposal of instruments with similar   |        |
| economic effect to qualifying financial instruments      |        |
|----------------------------------------------------------+--------|
| An event changing the breakdown of voting rights         |        |
|----------------------------------------------------------+--------|
| Other (please          |                                 |        |
| specify):              |                                 |        |
|-------------------------------------------------------------------|
| 3. Full name of person(s)       |                                 |
| subject to the                  |            CHRISTOPHER KINGSMAN |
| notification obligation: iii    |                                 |
|---------------------------------+---------------------------------|
| 4. Full name of shareholder(s)  |       GREENWOOD INVESTMENTS LTD |
|  (if different from 3.):iv      |                                 |
|---------------------------------+---------------------------------|
| 5. Date of the transaction and  |                                 |
| date on                         |                                 |
| which the threshold is crossed  |                 3 DECEMBER 2009 |
| or                              |                                 |
| reached: v                      |                                 |
|---------------------------------+---------------------------------|
| 6. Date on which issuer         |                 8 DECEMBER 2009 |
| notified:                       |                                 |
|---------------------------------+---------------------------------|
| 7. Threshold(s) that is/are     |                                 |
| crossed or                      |               Previously 28.85% |
| reached: vi, vii                |                                 |
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+-----------------------------------------------------------------------------------------------------+
|8. Notified details:                                                                                 |
|-----------------------------------------------------------------------------------------------------|
|A: Voting rights attached to shares viii, ix                                                         |
|-----------------------------------------------------------------------------------------------------|
|Class/type of   |Situation previous            |Resulting situation after the triggering transaction |
|shares          |to the triggering             |                                                     |
|if possible     |transaction                   |                                                     |
|using           |------------------------------+-----------------------------------------------------|
|the ISIN CODE   |Number           |Number      |Number    |Number of voting    |% of  voting rights x|
|                |of               |of          |of shares |rights              |                     |
|                |Shares           |Voting      |----------+--------------------+---------------------|
|                |                 |Rights      |Direct    |Direct |Indirect xii|Direct    |Indirect  |
|                |                 |            |          |xi     |            |          |          |
|----------------+-----------------+------------+----------+-------+------------+----------+----------|
|GB00B074J639    |                 |            |          |       |            |          |          |
|----------------|85,434,000       |85,434,000  |          |       |90,000,000  |          |27.46%    |
|                |                 |            |          |       |            |          |          |
|-----------------------------------------------------------------------------------------------------|
|                                                                                                     |
|-----------------------------------------------------------------------------------------------------|
|B: Qualifying Financial Instruments                                                                  |
|-----------------------------------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                                                 |
|-----------------------------------------------------------------------------------------------------|
|Type of financial        |Expiration    |Exercise/             |Number of voting      |% of voting   |
|instrument               |date xiii     |Conversion Period xiv |rights that may be    |rights        |
|                         |              |                      |acquired if the       |              |
|                         |              |                      |instrument is         |              |
|                         |              |                      |exercised/ converted. |              |
|-------------------------+--------------+----------------------+----------------------+--------------|
|N/A                      |              |                      |                      |              |
|-----------------------------------------------------------------------------------------------------|
|                                                                                                     |
|-----------------------------------------------------------------------------------------------------|
|C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi    |
|-----------------------------------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                                                 |
|-----------------------------------------------------------------------------------------------------|
|Type of financial|Exercise price  |Expiration|Exercise/   |Number of voting rights|% of voting rights|
|instrument       |                |date xvii |Conversion  |instrument refers to   |xix, xx           |
|                 |                |          |period xviii|                       |                  |
|-----------------+----------------+----------+------------+-----------------------+------------------|
|                 |                |          |            |                       |Nominal   |Delta  |
|N/A              |                |          |            |                       |----------+-------|
|                 |                |          |            |                       |          |       |
|-----------------------------------------------------------------------------------------------------|
|                                                                                                     |
|-----------------------------------------------------------------------------------------------------|
|Total (A+B+C)                                                                                        |
|-----------------------------------------------------------------------------------------------------|
|Number of voting rights                              |Percentage of voting rights                    |
|-----------------------------------------------------+-----------------------------------------------|
|90,000,000                                           |27.46%                                         |
+-----------------------------------------------------------------------------------------------------+



+-------------------------------------------------------------------+
| 9. Chain of controlled undertakings through which the voting      |
| rights and/or the                                                 |
| financial instruments are effectively held, if applicable: xxi    |
|-------------------------------------------------------------------|
|                                                                   |
|  Christopher Kingsman is the controlling shareholder of Greenwood |
|                                                   Investments Ltd |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| Proxy Voting:                                                     |
|-------------------------------------------------------------------|
| 10. Name of the proxy holder:                             |       |
|-----------------------------------------------------------+-------|
| 11. Number of voting rights proxy holder will cease       |       |
| to hold:                                                  |       |
|-----------------------------------------------------------+-------|
| 12. Date on which proxy holder will cease to hold         |       |
| voting rights:                                            |       |
|-------------------------------------------------------------------|
|                                                                   |
|-------------------------------------------------------------------|
| 13. Additional information:                |                      |
|--------------------------------------------+----------------------|
| 14. Contact name:                          | Christopher Kingsman |
|--------------------------------------------+----------------------|
| 15. Contact telephone number:              |        020 3287 2323 |
+-------------------------------------------------------------------+



Enquiries:
Serabi Mining plc
Clive Line, Finance Director Tel: [phone]
Website: www.serabimining.com

Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish / Michael Cornish Tel: [phone]

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