FIRST DRILL TEST OF GEOPHYSICAL TARGETS AT PIAU...

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



  First Drill Test of Geophysical Targets at Piaui Intersects Significant Gold
                                 Mineralisation


Serabi  Mining plc  (AIM:SRB, TSX:SBI  and SBI.WT),  the Brazilian  focused gold
exploration  company, is pleased  to release results  from the first exploration
diamond  drill holes in  the Piaui geophysical  anomaly at their  Jardim do Ouro
Project ("JDO") in the Tapajos region of Brazil.

In December 2010 the Company commenced a 7,500 metre drilling programme designed
to  target nine  high priority  Induced Polarization  (IP) targets.  To date the
Company  has completed seven drill  holes at Piaui and  received assays from the
first  five holes.  The drilling has to  date tested a 200m strike length of the
500m long  geophysical model and has returned significant gold intercepts in all
five drill holes. The style of the mineralization intersected to date appears to
be broader width to mineral resources identified at JDO to date


Mike Hodgson, Chief Executive, commented:

"Piaui,  selected first for its relative ease of access, is one  of nine targets
to  be drilled in  this campaign and  to obtain consistent  intersections in all
holes  drilled to date,  in this, our  first target, is  a great result. What is
most  appealing is the  indication that for  the first time,  we are discovering
broader  width  mineralization  extending  to  surface  at  JDO.   The  apparent
structural and grade continuity over the first 200m bodes well for the remainder
of  the Piaui programme and  also gives us confidence  of further success on the
remaining eight targets".


+------------------------------------------------------------------------------+
|                                Hole                                          |
| Hole    East   North    RL    Depth   Dip/Azm     From       To   Width  Au  |
|                                                                              |
|        (UTM)   (UTM)  (UTM)    (m)                (m)       (m)    (m)   g/t |
+------------------------------------------------------------------------------+
|PDD0455 633176 9300456 221.69  175.0   -62/032     3.50      8.00   4.5  2.75 |
|                                                                              |
|                                                  17.00     19.50   2.5  1.06 |
|                                                                              |
|                                                  28.40     31.90   3.5  1.58 |
|                                                                              |
|                                                  115.70    116.40  0.7  0.93 |
+------------------------------------------------------------------------------+
|PDD0456 633162 9300431 218.36  255.0   -62/032     4.90      5.90    1    3.2 |
|                                                                              |
|                                                  179.50    190.20 10.7  1.17 |
|                                                                              |
|                                                  200.00    205.50  5.5  1.22 |
+-------+------+-------+------+------------------------------------------------+
|PDD0457|632994|9300528|217.83| 145.5   -51/027    66.71     69.71    3   0.81 |
|       +------+-------+------+                                                |
|                                                  71.90     72.73  0.83  0.88 |
+-------+------+-------+------+------------------------------------------------+
|PDD0458|633058|9300494|219.01| 250.5   -62/028    189.20    191.70  2.5  6.22 |
|       +------+-------+------+                                                |
|                                                  198.20    207.30  9.1  2.24 |
|                                                                              |
|                                                  215.30    216.00  0.7  2.43 |
|                                                                              |
|                                                  219.00    219.70  0.7   1.3 |
+------------------------------------------------------------------------------+
|PDD0459 633072 9300519 222.37  170.0   -61/018    15.00     16.50   1.5  0.57 |
|                                                                              |
|                                                  19.54     21.47  1.93  22.86|
|                                                                              |
|                                                  140.80    141.59 0.79  1.22 |
|                                                                              |
|                                                  167.41    169.75 2.34  0.84 |
+-------+------+-------+------+------------------------------------------------+
|       |      |       |      |                 Assays                         |
|PDD0460|633201|9300357|216.61| 250.5   -52/028 pending                        |
|       +------+-------+------+                                                |
|                                                                              |
+-------+------+-------+------+------------------------------------------------+
|       |      |       |      |                 Assays                         |
|PDD0461|633322|9300303|219.86| 300.0   -66/022 Pending                        |
|       +------+-------+------+                                                |
|                                                                              |
+------------------------------------------------------------------------------+
Note:  Assay intercepts are calculated based on a minimum weighted average grade
of 0.5g/t Au using a 0.5g/t Au weighted average lower cut and a maximum internal
waste  interval of  1.2m. All analysis  was completed  by EcoTech  Laboratory of
Vancouver, Canada using a 30gm Fire Assay charge with an AAS analysis.


The mineralization encountered at the Piaui target is hosted within local strong
chlorite  altered  mylonite  zones  and  silica +/- chlorite altered porphyritic
dacites.  Mineralisation is  associated with  2-15% pyrite +/- chalcopyrite. The
mylonite   zones  transect  a  range  of  host  lithologies  including  gabbros,
granodiorites, monzogranites and porphyritic dacites.

The  Piaui anomaly is the first of  nine drill targets identified by the Company
and the initial 7,500m discovery drilling programme commenced in December 2010.
The  programme of diamond drill holes has  been designed to target the centre of
modeled IP chargeability and conductivity anomalies across the nine targets.




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]



 Hybridan LLP
 UK Broker

 Claire Noyce                      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 QA/QC procedures have been approved.

Glossary

Azm                            Azimuth

"Au"                           Gold

Dip                            angle of drilling

"g/t"                          grams per tonne

"IP" or "induced polarization" geophysical technique whereby an electric current
                               is   induced   into   the   sub-surface  and  the
                               conductivity of the sub-surface is recorded

3-D                            three-dimensional

RL                             relative elevation

UTM                            Universal Transverse Mercator - global geographic
                               co-ordinate system


ENDS







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Source: Serabi Mining plc via Thomson Reuters ONE

[HUG#1504183]