Update on Corporate Events

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

                     Update on Corporate Events


Serabi Mining plc advises that pursuant to the announcement made by
the Company on 3rd November the Directors' remain in active
discussions with parties that may result in the sale in whole or part
of the mining and exploration assets owned by the Company.  They are
also pursuing opportunities that might result in an injection of new
capital either into the Company or directly into its Brazilian
operating subsidiary.

The Directors' are no longer in any discussions with any party that
would lead to an offer being made to acquire the issued share capital
of the Company, Neither are they soliciting approaches from any
potential offeree which might lead to any such offer.

For the purposes of the City Code, the Company is therefore no longer
in an offer period.

On operational matters, the underground mining operations were
suspended at the end of 2008 and the underground mine is now in a
state of care and maintenance.  However mining of near-surface oxide
ores is being undertaken and a total of some 1,100 ounces of gold has
been produced since the start of 2009.  Whilst such near-surface
oxide resources are limited, the Directors' are confident that an
oxide mining operation can continue for at least the next few months.


Enquiries

Serabi Mining plc

Graham Roberts                  Tel: [phone]
Chairman                        Mobile: [phone]

Clive Line                      Tel: [phone]
Finance Director                Mobile: [phone]


Email: [e-mail]
Website:  www.serabimining.com

Numis Securities Limited
John Harrison                   Tel: [phone]
Nominated Adviser
James Black                     Tel: [phone]
Corporate Broking

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