Serabi Gold plc : Directorate change

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

                               Board Appointment

Serabi  Mining plc  (AIM:SRB, TSX:SBI  and SBI.WT),  the Brazilian  focused gold
exploration  Company, is pleased to announce  that Christopher Kingsman has been
appointed as a Non-Executive Director of the Company with immediate effect.

Christopher  David Kingsman, aged 36, has  worked in investment management since
graduating  from Cambridge University  in 1998. He began  his career at Fidelity
Investments  in London and  has worked for  both fundamentally and macro focused
investment  firms  during  1998 and  2005. Since  2005 he  has managed a private
family  office,  including  significant  stakes  and  directorships  in  private
companies,  as well as managing a  non-profit company. His current directorships
are  in the areas of investment management, business research (aranca.com), real
estate and the charitable sector.

Christopher has an MA Cantab, having read Social & Political Studies at St.
John's College, Cambridge. He also holds the IIMR investment management
certificate.

The  directorships and  / or  partnerships held  by Christopher  Kingsman in the
previous five years are as follows:

 Current                                       Past

----------------------------------------------------------------------------
 Greenwood Investments Ltd                     MoVa Investment Partners LLP

 IIE Immergrün Immobilien- Entwicklungs GmbH

 AF Colina GmbH

 Aneca Vermögensverwaltungs GbR

 Nicea gemeinnützige GmbH

 Aranca (Mumbai) Limited




Greenwood Investments Limited ("Greenwood"), the entire share capital of which
is beneficially owned by Christopher Kingsman, is interested in 11,590,000
Serabi Ordinary Shares representing 18.08 per cent. of the issued share capital
of Serabi, together with 5.0 million Warrants to subscribe for new Serabi
Ordinary Shares on or before 2 December 2012 at an exercise price of C$0.75 per
Serabi Ordinary Share.

In addition, in October 2009 Greenwood entered into a convertible loan agreement
with the Company ("Convertible") under which Greenwood made available a facility
of £300,000 to the Company. On 16 December 2009, the Company had drawn down the
full amount of the Convertible. The full amount of the Convertible is
convertible at the election of Greenwood into new Serabi Ordinary Shares at an
exercise price of 15p per Serabi Ordinary Share at any time on or before 31
October 2014. A maximum of 2,100,123 new Serabi Ordinary Shares may be issued on
conversion of the Convertible and settlement of the accumulated interest over
the life of the Convertible Loan of £15,018.42. The Convertible is unsecured and
pays a coupon of one per cent. per annum and, unless otherwise converted, will
be repaid on 31 October 2014.

There is no further information on Christopher Kingsman required to be disclosed
under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.



Enquiries:

 Serabi Gold plc

 Michael Hodgson                Tel: [phone]

 Chief Executive                Mobile: [phone]



 Clive Line                     Tel: [phone]

 Finance Director               Mobile: [phone]



 Email:[e-mail]

 Website:  www.serabigold.com



 Beaumont Cornish Limited
 Nominated Adviser

 Roland Cornish                 Tel: [phone]

 Michael Cornish                Tel: [phone]



 Fox Davies Capital Ltd
 UK Broker

 Simon Leathers                 Tel: [phone]

 Jonathan Evans                 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
atwww.serabigold.com and 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 QAQC procedures have been approved

Neither  the  Toronto  Stock  Exchange,  nor  any  other  securities  regulatory
authority, has approved or disapproved of the contents of this news release.


ENDS







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Source: Serabi Gold plc via Thomson Reuters ONE

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