Share Subscription Agreement with Eldorado Gold...

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

   SHARE SUBSCRIPTION AGREEMENT WITH ELDORADO GOLD CORPORATION RAISING GROSS
             PROCEEDS OF £3,600,000 aT 3.0 PENCE PER Ordinary SHARE

The  Board  of  Serabi  is  pleased  to  announce  that  it  has  entered into a
conditional  share  subscription  agreement  (the "Subscription Agreement") with
Eldorado   Gold   Corporation   ("Eldorado"   TSX:ELD,   NYSE:EGO,   ASX:EAU)  a
Canadian-based  gold producer with existing  interests and operations in Turkey,
China, Brazil and Greece.

Under  the terms of  the Subscription Agreement,  Serabi has agreed  to issue to
Eldorado  120,000,000 new Ordinary Shares of 0.5 pence  each in the Company (the
"Subscription Shares") at a price per Ordinary Share of 3.0 pence. Following the
subscription,  Eldorado  will  hold  26.8 per  cent.  of the entire issued share
capital of the Company and the Company will have a total of 447,740,595 Ordinary
Shares in issue. Eldorado has agreed not to dispose of these Ordinary Shares for
a 12 months period following their admission to trading.

The Company has also agreed that provided Eldorado continues to own 15 per cent.
or more of the issued share capital of the Company, Eldorado will have the right
to nominate a Director to the Board of the Company.

Completion  of the Subscription Agreement is due  to take place on 17 June 2010
and is conditional upon the Subscription Shares being admitted to AIM.

The  Company has granted Eldorado warrants exercisable  at any time for a period
of  2 years over  a further  15 million new  Ordinary Shares exercisable at 4.0
pence per new Ordinary Share.

The  Company has also granted an option entitling Eldorado to subscribe for such
number  of  new  Ordinary  Shares  as  would  enable  Eldorado  to  maintain its
percentage  interest in the share  capital of the Company  in the event that the
Company  issues new Ordinary Shares for cash (or cash equivalent), provided that
Eldorado  continues to own 15 per  cent. or more of  the issued share capital of
the Company.

Mike  Hodgson, the  Chief Executive  of Serabi,  commenting on  the announcement
said: "The subscription by a strategic investor of the stature of Eldorado is an
endorsement  of what  we are  seeking to  achieve and  the strategy  to focus on
exploration  that  we  are  pursuing.  This  subscription  taken  together  with
Eldorado's proposed acquisition of Brazauro Resources Corp and its Tocantinzinho
project  located to the north west of Palito, indicates that Eldorado is willing
to make a strong commitment to the Tapajos and the region's potential.  Eldorado
has  paid a premium over  the current market price  which we believe illustrates
their confidence in the potential of Palito and Serabi."

The  proceeds from the Subscription Agreement  will enable the Company to extend
its current exploration programmes at Palito and support further IP surveys over
the remaining VTEM targets.   The results from the initial survey have served to
strengthen  our belief  that we  will discover  additional satellite  ore bodies
around  Palito.  Dependent on  the results of  these further IP  surveys and the
first drilling results on the recently identified 9 drill targets, Serabi is now
in a position to embark on a second stage drill programme later in the year.



Enquiries:

Serabi Mining plc

Mike Hodgson                                                Tel: [phone]

Chief Executive                                             Mobile: [phone]



Email: [e-mail]
<mailto:[e-mail]>

Website:  www.serabimining.com
<

http://www.serabimining.com/>



Beaumont Cornish Limited
Nominated Adviser and Broker

Roland Cornish                                              Tel: [phone]

Michael Cornish                                             Tel: [phone]



Farm Street Communications
Public Relations

Simon Robinson                                              Tel: [phone]
[e-mail]                          Mobile: [phone]
<mailto:[e-mail]>


About Eldorado Gold Corporation

Eldorado  Gold Corporation  ("Eldorado") which  has its  shares listed in Canada
(TSX),  United  States  (NYSE)  and  Australia  (ASX)  has  its  head  office in
Vancouver,  Canada, and  is an  international mid  tier gold  producer active in
development  and exploration with a market capitalization in excess of $9billion
and  proven  and  probable  gold  reserves  of over 12 million ounces.  Eldorado
operates  the KiÅŸladaÄŸ gold  mine in Turkey;  the Jinfeng, Tanjianshan and White
Mountain  gold mines in China and is  constructing the Efemçukuru mine in Turkey
and  the Eastern Dragon  mine in China.  Eldorado is developing  the Perama Hill
project  in Greece and is  exploring in Brazil, China,  Turkey and Nevada in the
United  States.  Eldorado's  goal is  to produce  over 1 million  ounces of gold
annually  by 2013 and, as  one of the  lowest cost gold  producers with a strong
balance  sheet and no hedge positions, is well positioned to grow in value as it
creates and pursues new opportunities in gold and other resources.


Further   information   on   Eldorado   is   available  at  www.eldoradogold.com
<

http://www.eldoradogold.com/>

Further information on Serabi is available at www.serabimining.com
<

http://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.



[HUG#1424206]