Result of General Meeting - Completion of Escro...

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

                           Result of General Meeting
                    Completion of Escrow Release Conditions


Serabi  Mining plc announces that at the  General Meeting of the Company held on
21 December  2010,shareholders approved the ordinary  resolution proposed in the
notice of meeting dated 3 December 2010 (the "Resolution") for the consolidation
of the all of the issued and unissued ordinary shares of Company on the basis of
one  new ordinary share  of 5 pence each  ("New Ordinary Shares")  for every ten
existing ordinary shares of 0.5 pence each ("Existing Ordinary Shares").

The  Company's registrar will as  of close of business  today make the necessary
adjustment to the register of shareholders and the Existing Ordinary Shares will
cease  to be traded on AIM  as of close of business  today.  Dealings in the New
Ordinary  Shares of the Company will  commence at 8.00 am on 22 December 2010.
With  effect from  22 December 2010 the  number of  New Ordinary Shares in issue
will  be 44,774,059 and the total  number of New Ordinary  Shares in the Company
with voting rights is 44,774,059.

The  above figure of 44,774,059 New Ordinary  Shares may be used by shareholders
in  the  Company  as  the  denominator  for  the calculations by which they will
determine if they are required to notify their interest in, or a change to their
interest  in,  the  share  capital  of  the  Company under the Financial Service
Authority's Disclosure and Transparency Rules.

The  passing  of  the  Resolution  also  satisfies the escrow release conditions
relating  the  issue  of  Special  Warrants  announced  on  3 December 2010.  In
accordance with the terms on which the Special Warrants were issued the proceeds
net  of certain  expenses (which  amounted to  approximately $396,000)  had been
placed  in escrow pending the approval of the shareholders of the Company of the
Resolution.   Subject  to  the  notification  by  the  Directors  of  Serabi  to
Computershare Trust Company of Canada (who is acting as trustee for these funds)
that  the  escrow  release  condition  has  been satisfied, the proceeds will be
released to the Company.


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



ENDS







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Source: Serabi Mining plc via Thomson Reuters ONE

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