{"success":true,"data":{"pressRelease":{"id":"96057","rtpr_id":"nGNE664tb0","ticker":"SRB","exchange":"LSE","all_tickers":["SRB"],"title":"REG-Reports Q2-2026 Production & Operational Highlights","author":"Globe Newswire","published_at":"2026-07-23T05:00:00.545Z","article_body":"Reports Q2-2026 Production & Operational Highlights\n\nSerabi Gold plc (“Serabi” or the “Company”) (AIM: SRB, TSX: SBI,\nOTCQX: SRBIF), the Brazilian focused gold mining and development company, is\npleased to announce the Company’s production results and operating\nhighlights for Q2-2026 (all financial amounts are expressed in U.S. dollars\nunless otherwise indicated).\n\nQ2-2026 OPERATIONAL HIGHLIGHTS\n* Quarterly gold production of 11,007 ounces, a 5% increase from Q2-2025.\n* Cash as of 30 June 2026 of $65.7 million vs $64.4 million as of 31 March\n2026. * Company remains debt free; having repaid $5.3 million to Banco\nSantander in Brazil during Q1-2026.\n \n* Installation of the 4(th) ball mill at Palito Complex progressing on time\nand budget, expected to be operational by Q4-2026 and will increase annual\nprocessing throughput to 330ktpa in 2027.\n* The full transition from selective open stoping to mechanised sublevel\nstoping at Coringa remains on track for Q4-2026.\n* Coringa Mine currently operates under a 3-year GUIA licence which expires\non January 29, 2027. * Discussions are ongoing with the Agência Nacional de\nMineração (“ANM”), regarding the possible extension of the current GUIA.\n \n* For the full mining licence (“LI”) at Coringa, the Company requires a\nchange of land use approval from the Instituto Nacional de Colonização e\nReforma Agrária (“INCRA”) as well as the approval of the Estudo de\nComponente Indígena (“ECI”) from FUNAI, which are both progressing well.\n* Successful site visit by the local Indigenous communities to Coringa\noccurred on July 17, 2026.\n* Change of land use is in the final stage, requiring approvals by INCRA at\nthe state and federal levels.\n \n* Based on the assumption that the LI will be awarded by Q4-2026, the Company\nremains on track to deliver FY2026 consolidated production in excess of a\nrecord 53,000 ounces gold.\nMike Hodgson, CEO of Serabi, commented:\n\n“Serabi delivered a solid second quarter with over 11,000 ounces of gold\nproduced, taking our first half total gold production to over 23,000 ounces.\nThis performance was broadly in line with budget with quarterly production\nexpected to increase in the second half of the year. Despite lower realised\ngold prices in Q2, development of the Galena and Serra South zone at Coringa\nand approximately $4 million of one-time G&A and tax charges, Serabi ended the\nquarter with an increased cash balance of $66 million following record cash\ngeneration in Q1 while maintaining a debt-free balance sheet.  \n\nOperationally, Coringa continued to perform strongly, with milled grades of\n7.41g/t gold. The move to mechanized sublevel open stoping method has\ncontinued, which the Company anticipates will be complete by year end bringing\nbenefits to cost, output and safety. Development of the third zone at Coringa,\nGalena, is advancing well. A fourth zone at Coringa, Serra South, which was a\nsignificant discovery from the 2025 brownfield exploration programme, had\ndevelopment initiated during the quarter. At Palito Complex, production was\nimpacted by milled grades averaging 5.26 g/t Au YTD, compared to over 6 g/t Au\nin FY2025. Activity continued across several established zones, with\ndevelopment focused on G3. Stoping is expected to recommence at G3 in the\nsecond half, which should support improved grades and production.\n\nWe continue to make steady progress on the LI at Coringa. The LI is issued by\nSEMAS, the state environmental agency, who in turn are awaiting two approvals;\n  the ‘change of land use’ from the land registry body, INCRA which has\nbeen technically approved at both state and federal levels and now awaits\nfinal legal sign off. The second approval required by SEMAS is from FUNAI, the\nIndigenous government agency, who need to protocol the approval of the Estudo\nde Componente Indígena (ECI or Indigenous Impact Study).   Since the ECI\nwas physically presented and positively received by the Indigenous communities\nin March 2026, numerous consultations have taken place including a successful\nsecond site visit by the local Indigenous communities to Coringa Mine on 17\nJuly 2026.\n\nDuring the quarter the Company released updated reserve estimates and resource\nestimates for the Palito Complex and Coringa Mine, based on the approximately\n38,000 metres drilled in 2025. In only our first year of Phase 2, our\nconsolidated M&I resource increased to 731koz Au and our consolidated inferred\nresource to 653koz Au, which is more than half-way towards our growth target.\n\nLooking ahead, Serabi remains in a strong cash position with zero debt and\nmultiple organic growth catalysts expected later this year. This includes the\nPalito Complex plant expansion which remains on track and on budget for\ncompletion by Q4-2026 and the transition to mechanized sublevel open stoping\nmethod at Coringa targeted for year end. We expect our production profile will\nincrease sequentially through the remainder of the year and anticipate another\nrecord year of production in 2026, with production guidance in excess of\n53,000 ounces.”\n\nOPERATIONAL RESULTS\n\n SUMMARY PRODUCTION STATISTICS FOR 2026 AND 2025 \n Qtr. 1 Qtr. 2 YTD Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Fiscal \n 2026 2026 2026 2025 2025 2025 2025 2025 \n Group \n Gold production ((1)(2) ) Ounces 12,042 11,007 23,049 10,013 10,532 12,090 11,534 44,169 \n Mined ore Tonnes 54,965 59,094 114,058 44,924 52,032 51,625 55,899 204,480 \n Gold grade (g/t) 7.06 6.19 6.61 7.09 6.72 7.24 6.65 6.91 \n Milled ore Tonnes 54,587 57,122 111,709 48,155 51,246 53,991 55,607 208,899 \n Gold grade (g/t) 7.05 6.21 6.62 6.70 6.67 7.18 6.63 6.80 \n Horizontal devel. Metres 4,155 3,903 8,057 3,505 3,850 3,706 4,535 15,596 \n Palito Complex \n Gold production ( (1)(2)) Ounces 4,592 3,469 8,061 4,666 5,607 5,246 4,638 20,158 \n Mined ore Tonnes 25,201 25,845 51,045 25,267 29,294 26,352 27,129 108,042 \n Gold grade (g/t) 5.88 4.55 5.21 6.15 6.22 6.29 5.48 6.04 \n Milled ore Tonnes 24,977 24,547 49,523 24,328 29,885 27,081 27,226 108,521 \n Gold grade (g/t) 5.90 4.62 5.26 6.25 6.15 6.25 5.47 6.03 \n Horizontal devel. Metres 1,882 1,963 3,845 1,979 2,004 2,125 2,161 8,269 \n Coringa \n Gold production ((1)(2)) Ounces 7,450 7,538 14,988 5,347 4,925 6,843 6,895 24,010 \n Mined ore Tonnes 29,764 33,250 63,013 19,657 22,738 25,273 28,770 96,438 \n Gold grade (g/t) 8.06 7.46 7.74 8.31 7.35 8.23 7.74 7.04 \n Milled ore Tonnes 29,610 32,575 62,185 23,827 21,361 26,909 28,381 100,479 \n Gold grade (g/t) 8.01 7.41 7.70 7.17 7.39 8.13 7.75 7.64 \n Horizontal devel. Metres 2,273 1,940 4,213 1,526 1,846 1,581 2,374 7,327 \n\n           (1)   The table may not sum due to rounding.\n\n           (2)   Production numbers are subject to change\npending final assay analysis from refineries.\n\nGroup production for the second quarter was 11,007 ounces. Group ore mined\nduring the quarter was 59,094 tonnes at 6.19 g/t Au compared to 54,965 tonnes\nat 7.06 g/t Au for the first quarter of 2026.\n\nThe Palito Complex process plant treated 57,122 tonnes at 6.21 g/t Au compared\nto 54,587 tonnes at 7.05 g/t Au for Q1-2026.\n\nA total of 3,903 metres of horizontal development has been completed for the\nquarter of which 2,151 metres was ore development. The balance was the ramp,\ncrosscuts and stope preparation development.\n\nThe Coringa Mine continues to perform well. On the Serra zone, production was\nfocused on the levels of 260m, 190m, 158m, 143m, 125m, and 106m, with\ndevelopment on levels 170m, 158m, 126m, 104m and 88m. On the Meio zone,\ndevelopment is focused on level 271m and stoping ongoing on levels 336m and\n286m.\n\nThe new Galena zone is in development with the main ramp currently at the 249m\nlevel and sill drive development on levels 285m and 269m.\n\nCoringa Mine operates under the terms of the 3-year GUIA licence which permits\nthe transportation of 100,000 tonnes of ore per year as previously reported.\n\nPalito Complex production and development is varied, with production from the\nBarrichello, G3, and Piquet zones. Development is ongoing on the Senna and G3\nveins, ranging from levels -15m down to -210m level on G3.   \n\nFINANCE UPDATE\n\nCash balance at the end of June 2026 was $65.7 million. During Q1-2026, the\nCompany fully repaid its $5.3 million unsecured loan arrangement with Banco\nSantander and is now debt free.\n\nFY2026 PRODUCTION GUIDANCE\n\nThe Company has made assumptions that the LI will be awarded by Q4-2026, and\non that basis maintains FY2026 consolidated production in excess of 53,000\nounces gold.\n\nAbout Serabi Gold plc\nSerabi Gold plc is a gold exploration, development and production company\nfocused on the prolific Tapajós region in Para State, northern Brazil. The\nCompany has consistently produced 30,000 to 40,000 ounces per year with the\nPalito Complex and is planning to double production in the coming years with\nthe ramp up of the Coringa Mine. Serabi Gold plc recently made a copper-gold\nporphyry discovery on its extensive exploration licence. The Company is\nheadquartered in the United Kingdom with a secondary office in Toronto,\nOntario, Canada.\n\nThe information contained within this announcement is deemed by the Company to\nconstitute inside information as stipulated under the Market Abuse Regulations\n(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the\nEuropean Union (Withdrawal) Act 2018.\n\nThe person who arranged for the release of this announcement on behalf of the\nCompany was Andrew Khov, Vice President, Head of Investor Relations & Business\nDevelopment.\n\nEnquiries\n\nSERABI GOLD plc\nMichael Hodgson        t +44 (0)20 7246 6830\nChief Executive        m +44 (0)7799 473621\n\nColm Howlin        \nChief Financial Officer        m +353 89 6078171\n\nAndrew Khov         m +1 647 885 4874\nVice President, Head of Investor Relations & \nBusiness Development\n        e contact@serabigold.com\n\n        www.serabigold.com\n\nBEAUMONT CORNISH Limited\nNominated Adviser & Financial Adviser\nRoland Cornish / Michael Cornish        t +44 (0)20 7628 3396\n\nPEEL HUNT LLP\nJoint UK Broker\nRoss Allister / Georgia Langoulant        t +44 (0)20 7418 9000\n\nTAMESIS PARTNERS LLP\nJoint UK Broker\nCharlie Bendon / Richard Greenfield t +44 (0)20 3882 2868\n\nCAMARCO\nFinancial PR - Europe\nGeorgia Edmonds / Fergus Young        t +44 (0)20 3757 4980\n\nAssay Results\nAssay results reported within this release include those provided by the\nCompany's own on-site laboratory facilities at Palito and have not yet been\nindependently verified. Serabi closely monitors the performance of its own\nfacility against results from independent laboratory analysis for quality\ncontrol purpose. As a matter of normal practice, the Company sends duplicate\nsamples derived from a variety of the Company's activities to accredited\nlaboratory facilities for independent verification. Since mid-2019, over\n10,000 exploration drill core samples have been assayed at both the Palito\nlaboratory and certified external laboratory, in most cases the ALS laboratory\nin Belo Horizonte, Brazil. When comparing significant assays with grades\nexceeding 1 g/t gold, comparison between Palito versus external results record\nan average over-estimation by the Palito laboratory of 6.7% over this period.\nBased on the results of this work, the Company's management are satisfied that\nthe Company's own facility shows sufficiently good correlation with\nindependent laboratory facilities for exploration drill samples. The Company\nwould expect that in the preparation of any future independent\nReserve/Resource statement undertaken in compliance with a recognized\nstandard, the independent authors of such a statement would not use Palito\nassay results without sufficient duplicates from an appropriately certificated\nlaboratory.\n\nForward-looking statements\nCertain statements in this announcement are, or may be deemed to be, forward\nlooking statements. Forward looking statements are identified by their use of\nterms and phrases such as ‘‘believe’’, ‘‘could’’, “should”\n‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’,\n‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those,\nvariations or comparable expressions, including references to assumptions.\nThese forward-looking statements are not based on historical facts but rather\non the Directors’ current expectations and assumptions regarding the\nCompany’s future growth, results of operations, performance, future capital\nand other expenditures (including the amount, nature and sources of funding\nthereof), competitive advantages, business prospects and opportunities. Such\nforward looking statements reflect the Directors’ current beliefs and\nassumptions and are based on information currently available to the Directors.\nSeveral factors could cause actual results to differ materially from the\nresults discussed in the forward-looking statements including risks associated\nwith vulnerability to general economic and business conditions, competition,\nenvironmental and other regulatory changes, actions by governmental\nauthorities, the availability of capital markets, reliance on key personnel,\nuninsured and underinsured losses and other factors, many of which are beyond\nthe control of the Company. Although any forward-looking statements contained\nin this announcement are based upon what the Directors believe to be\nreasonable assumptions, the Company cannot assure investors that actual\nresults will be consistent with such forward looking statements.\n\nQualified Persons Statement\nThe scientific and technical information contained within this announcement\nhas been reviewed and approved by Michael Hodgson, a Director of the Company.\nMr Hodgson is an Economic Geologist by training with over 30 years' experience\nin the mining industry. He holds a BSc (Hons) Geology, University of London, a\nMSc Mining Geology, University of Leicester and is a Fellow of the Institute\nof Materials, Minerals and Mining and a Chartered Engineer of the Engineering\nCouncil of UK, recognizing him as both a Qualified Person for the purposes of\nCanadian National Instrument 43-101 and by the AIM Guidance Note on Mining and\nOil & Gas Companies dated June 2009.\n\nNotice\nBeaumont Cornish Limited, which is authorised and regulated in the United\nKingdom by the Financial Conduct Authority, is acting as nominated adviser to\nthe Company in relation to the matters referred herein. Beaumont Cornish\nLimited is acting exclusively for the Company and for no one else in relation\nto the matters described in this announcement and is not advising any other\nperson and accordingly will not be responsible to anyone other than the\nCompany for providing the protections afforded to clients of Beaumont Cornish\nLimited, or for providing advice in relation to the contents of this\nannouncement or any matter referred to in it.\n\nNeither the Toronto Stock Exchange, nor any other securities regulatory\nauthority, has approved or disapproved of the contents of this news release\n\nSee www.serabigold.com for more information and follow us on X @Serabi_Gold\n\nAttachment\n* 2026.07.23 - Q2 2026 Operational Release - vF\n(https://ml-eu.globenewswire.com/Resource/Download/b87d9c74-eb79-4b7a-af09-1339cc3cb85f)","article_body_html":"","raw_payload":{"data":{"id":"nGNE664tb0","title":"REG-Reports Q2-2026 Production & Operational Highlights","author":"Globe Newswire","ticker":"SRB","created":"2026-07-23T05:00:00.545Z","tickers":["SRB"],"exchange":"LSE","article_body":"Reports Q2-2026 Production & Operational Highlights\n\nSerabi Gold plc (“Serabi” or the “Company”) (AIM: SRB, TSX: SBI,\nOTCQX: SRBIF), the Brazilian focused gold mining and development company, is\npleased to announce the Company’s production results and operating\nhighlights for Q2-2026 (all financial amounts are expressed in U.S. dollars\nunless otherwise indicated).\n\nQ2-2026 OPERATIONAL HIGHLIGHTS\n* Quarterly gold production of 11,007 ounces, a 5% increase from Q2-2025.\n* Cash as of 30 June 2026 of $65.7 million vs $64.4 million as of 31 March\n2026. * Company remains debt free; having repaid $5.3 million to Banco\nSantander in Brazil during Q1-2026.\n \n* Installation of the 4(th) ball mill at Palito Complex progressing on time\nand budget, expected to be operational by Q4-2026 and will increase annual\nprocessing throughput to 330ktpa in 2027.\n* The full transition from selective open stoping to mechanised sublevel\nstoping at Coringa remains on track for Q4-2026.\n* Coringa Mine currently operates under a 3-year GUIA licence which expires\non January 29, 2027. * Discussions are ongoing with the Agência Nacional de\nMineração (“ANM”), regarding the possible extension of the current GUIA.\n \n* For the full mining licence (“LI”) at Coringa, the Company requires a\nchange of land use approval from the Instituto Nacional de Colonização e\nReforma Agrária (“INCRA”) as well as the approval of the Estudo de\nComponente Indígena (“ECI”) from FUNAI, which are both progressing well.\n* Successful site visit by the local Indigenous communities to Coringa\noccurred on July 17, 2026.\n* Change of land use is in the final stage, requiring approvals by INCRA at\nthe state and federal levels.\n \n* Based on the assumption that the LI will be awarded by Q4-2026, the Company\nremains on track to deliver FY2026 consolidated production in excess of a\nrecord 53,000 ounces gold.\nMike Hodgson, CEO of Serabi, commented:\n\n“Serabi delivered a solid second quarter with over 11,000 ounces of gold\nproduced, taking our first half total gold production to over 23,000 ounces.\nThis performance was broadly in line with budget with quarterly production\nexpected to increase in the second half of the year. Despite lower realised\ngold prices in Q2, development of the Galena and Serra South zone at Coringa\nand approximately $4 million of one-time G&A and tax charges, Serabi ended the\nquarter with an increased cash balance of $66 million following record cash\ngeneration in Q1 while maintaining a debt-free balance sheet.  \n\nOperationally, Coringa continued to perform strongly, with milled grades of\n7.41g/t gold. The move to mechanized sublevel open stoping method has\ncontinued, which the Company anticipates will be complete by year end bringing\nbenefits to cost, output and safety. Development of the third zone at Coringa,\nGalena, is advancing well. A fourth zone at Coringa, Serra South, which was a\nsignificant discovery from the 2025 brownfield exploration programme, had\ndevelopment initiated during the quarter. At Palito Complex, production was\nimpacted by milled grades averaging 5.26 g/t Au YTD, compared to over 6 g/t Au\nin FY2025. Activity continued across several established zones, with\ndevelopment focused on G3. Stoping is expected to recommence at G3 in the\nsecond half, which should support improved grades and production.\n\nWe continue to make steady progress on the LI at Coringa. The LI is issued by\nSEMAS, the state environmental agency, who in turn are awaiting two approvals;\n  the ‘change of land use’ from the land registry body, INCRA which has\nbeen technically approved at both state and federal levels and now awaits\nfinal legal sign off. The second approval required by SEMAS is from FUNAI, the\nIndigenous government agency, who need to protocol the approval of the Estudo\nde Componente Indígena (ECI or Indigenous Impact Study).   Since the ECI\nwas physically presented and positively received by the Indigenous communities\nin March 2026, numerous consultations have taken place including a successful\nsecond site visit by the local Indigenous communities to Coringa Mine on 17\nJuly 2026.\n\nDuring the quarter the Company released updated reserve estimates and resource\nestimates for the Palito Complex and Coringa Mine, based on the approximately\n38,000 metres drilled in 2025. In only our first year of Phase 2, our\nconsolidated M&I resource increased to 731koz Au and our consolidated inferred\nresource to 653koz Au, which is more than half-way towards our growth target.\n\nLooking ahead, Serabi remains in a strong cash position with zero debt and\nmultiple organic growth catalysts expected later this year. This includes the\nPalito Complex plant expansion which remains on track and on budget for\ncompletion by Q4-2026 and the transition to mechanized sublevel open stoping\nmethod at Coringa targeted for year end. We expect our production profile will\nincrease sequentially through the remainder of the year and anticipate another\nrecord year of production in 2026, with production guidance in excess of\n53,000 ounces.”\n\nOPERATIONAL RESULTS\n\n SUMMARY PRODUCTION STATISTICS FOR 2026 AND 2025 \n Qtr. 1 Qtr. 2 YTD Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Fiscal \n 2026 2026 2026 2025 2025 2025 2025 2025 \n Group \n Gold production ((1)(2) ) Ounces 12,042 11,007 23,049 10,013 10,532 12,090 11,534 44,169 \n Mined ore Tonnes 54,965 59,094 114,058 44,924 52,032 51,625 55,899 204,480 \n Gold grade (g/t) 7.06 6.19 6.61 7.09 6.72 7.24 6.65 6.91 \n Milled ore Tonnes 54,587 57,122 111,709 48,155 51,246 53,991 55,607 208,899 \n Gold grade (g/t) 7.05 6.21 6.62 6.70 6.67 7.18 6.63 6.80 \n Horizontal devel. Metres 4,155 3,903 8,057 3,505 3,850 3,706 4,535 15,596 \n Palito Complex \n Gold production ( (1)(2)) Ounces 4,592 3,469 8,061 4,666 5,607 5,246 4,638 20,158 \n Mined ore Tonnes 25,201 25,845 51,045 25,267 29,294 26,352 27,129 108,042 \n Gold grade (g/t) 5.88 4.55 5.21 6.15 6.22 6.29 5.48 6.04 \n Milled ore Tonnes 24,977 24,547 49,523 24,328 29,885 27,081 27,226 108,521 \n Gold grade (g/t) 5.90 4.62 5.26 6.25 6.15 6.25 5.47 6.03 \n Horizontal devel. Metres 1,882 1,963 3,845 1,979 2,004 2,125 2,161 8,269 \n Coringa \n Gold production ((1)(2)) Ounces 7,450 7,538 14,988 5,347 4,925 6,843 6,895 24,010 \n Mined ore Tonnes 29,764 33,250 63,013 19,657 22,738 25,273 28,770 96,438 \n Gold grade (g/t) 8.06 7.46 7.74 8.31 7.35 8.23 7.74 7.04 \n Milled ore Tonnes 29,610 32,575 62,185 23,827 21,361 26,909 28,381 100,479 \n Gold grade (g/t) 8.01 7.41 7.70 7.17 7.39 8.13 7.75 7.64 \n Horizontal devel. Metres 2,273 1,940 4,213 1,526 1,846 1,581 2,374 7,327 \n\n           (1)   The table may not sum due to rounding.\n\n           (2)   Production numbers are subject to change\npending final assay analysis from refineries.\n\nGroup production for the second quarter was 11,007 ounces. Group ore mined\nduring the quarter was 59,094 tonnes at 6.19 g/t Au compared to 54,965 tonnes\nat 7.06 g/t Au for the first quarter of 2026.\n\nThe Palito Complex process plant treated 57,122 tonnes at 6.21 g/t Au compared\nto 54,587 tonnes at 7.05 g/t Au for Q1-2026.\n\nA total of 3,903 metres of horizontal development has been completed for the\nquarter of which 2,151 metres was ore development. The balance was the ramp,\ncrosscuts and stope preparation development.\n\nThe Coringa Mine continues to perform well. On the Serra zone, production was\nfocused on the levels of 260m, 190m, 158m, 143m, 125m, and 106m, with\ndevelopment on levels 170m, 158m, 126m, 104m and 88m. On the Meio zone,\ndevelopment is focused on level 271m and stoping ongoing on levels 336m and\n286m.\n\nThe new Galena zone is in development with the main ramp currently at the 249m\nlevel and sill drive development on levels 285m and 269m.\n\nCoringa Mine operates under the terms of the 3-year GUIA licence which permits\nthe transportation of 100,000 tonnes of ore per year as previously reported.\n\nPalito Complex production and development is varied, with production from the\nBarrichello, G3, and Piquet zones. Development is ongoing on the Senna and G3\nveins, ranging from levels -15m down to -210m level on G3.   \n\nFINANCE UPDATE\n\nCash balance at the end of June 2026 was $65.7 million. During Q1-2026, the\nCompany fully repaid its $5.3 million unsecured loan arrangement with Banco\nSantander and is now debt free.\n\nFY2026 PRODUCTION GUIDANCE\n\nThe Company has made assumptions that the LI will be awarded by Q4-2026, and\non that basis maintains FY2026 consolidated production in excess of 53,000\nounces gold.\n\nAbout Serabi Gold plc\nSerabi Gold plc is a gold exploration, development and production company\nfocused on the prolific Tapajós region in Para State, northern Brazil. The\nCompany has consistently produced 30,000 to 40,000 ounces per year with the\nPalito Complex and is planning to double production in the coming years with\nthe ramp up of the Coringa Mine. Serabi Gold plc recently made a copper-gold\nporphyry discovery on its extensive exploration licence. The Company is\nheadquartered in the United Kingdom with a secondary office in Toronto,\nOntario, Canada.\n\nThe information contained within this announcement is deemed by the Company to\nconstitute inside information as stipulated under the Market Abuse Regulations\n(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the\nEuropean Union (Withdrawal) Act 2018.\n\nThe person who arranged for the release of this announcement on behalf of the\nCompany was Andrew Khov, Vice President, Head of Investor Relations & Business\nDevelopment.\n\nEnquiries\n\nSERABI GOLD plc\nMichael Hodgson        t +44 (0)20 7246 6830\nChief Executive        m +44 (0)7799 473621\n\nColm Howlin        \nChief Financial Officer        m +353 89 6078171\n\nAndrew Khov         m +1 647 885 4874\nVice President, Head of Investor Relations & \nBusiness Development\n        e contact@serabigold.com\n\n        www.serabigold.com\n\nBEAUMONT CORNISH Limited\nNominated Adviser & Financial Adviser\nRoland Cornish / Michael Cornish        t +44 (0)20 7628 3396\n\nPEEL HUNT LLP\nJoint UK Broker\nRoss Allister / Georgia Langoulant        t +44 (0)20 7418 9000\n\nTAMESIS PARTNERS LLP\nJoint UK Broker\nCharlie Bendon / Richard Greenfield t +44 (0)20 3882 2868\n\nCAMARCO\nFinancial PR - Europe\nGeorgia Edmonds / Fergus Young        t +44 (0)20 3757 4980\n\nAssay Results\nAssay results reported within this release include those provided by the\nCompany's own on-site laboratory facilities at Palito and have not yet been\nindependently verified. Serabi closely monitors the performance of its own\nfacility against results from independent laboratory analysis for quality\ncontrol purpose. As a matter of normal practice, the Company sends duplicate\nsamples derived from a variety of the Company's activities to accredited\nlaboratory facilities for independent verification. Since mid-2019, over\n10,000 exploration drill core samples have been assayed at both the Palito\nlaboratory and certified external laboratory, in most cases the ALS laboratory\nin Belo Horizonte, Brazil. When comparing significant assays with grades\nexceeding 1 g/t gold, comparison between Palito versus external results record\nan average over-estimation by the Palito laboratory of 6.7% over this period.\nBased on the results of this work, the Company's management are satisfied that\nthe Company's own facility shows sufficiently good correlation with\nindependent laboratory facilities for exploration drill samples. The Company\nwould expect that in the preparation of any future independent\nReserve/Resource statement undertaken in compliance with a recognized\nstandard, the independent authors of such a statement would not use Palito\nassay results without sufficient duplicates from an appropriately certificated\nlaboratory.\n\nForward-looking statements\nCertain statements in this announcement are, or may be deemed to be, forward\nlooking statements. Forward looking statements are identified by their use of\nterms and phrases such as ‘‘believe’’, ‘‘could’’, “should”\n‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’,\n‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those,\nvariations or comparable expressions, including references to assumptions.\nThese forward-looking statements are not based on historical facts but rather\non the Directors’ current expectations and assumptions regarding the\nCompany’s future growth, results of operations, performance, future capital\nand other expenditures (including the amount, nature and sources of funding\nthereof), competitive advantages, business prospects and opportunities. Such\nforward looking statements reflect the Directors’ current beliefs and\nassumptions and are based on information currently available to the Directors.\nSeveral factors could cause actual results to differ materially from the\nresults discussed in the forward-looking statements including risks associated\nwith vulnerability to general economic and business conditions, competition,\nenvironmental and other regulatory changes, actions by governmental\nauthorities, the availability of capital markets, reliance on key personnel,\nuninsured and underinsured losses and other factors, many of which are beyond\nthe control of the Company. Although any forward-looking statements contained\nin this announcement are based upon what the Directors believe to be\nreasonable assumptions, the Company cannot assure investors that actual\nresults will be consistent with such forward looking statements.\n\nQualified Persons Statement\nThe scientific and technical information contained within this announcement\nhas been reviewed and approved by Michael Hodgson, a Director of the Company.\nMr Hodgson is an Economic Geologist by training with over 30 years' experience\nin the mining industry. He holds a BSc (Hons) Geology, University of London, a\nMSc Mining Geology, University of Leicester and is a Fellow of the Institute\nof Materials, Minerals and Mining and a Chartered Engineer of the Engineering\nCouncil of UK, recognizing him as both a Qualified Person for the purposes of\nCanadian National Instrument 43-101 and by the AIM Guidance Note on Mining and\nOil & Gas Companies dated June 2009.\n\nNotice\nBeaumont Cornish Limited, which is authorised and regulated in the United\nKingdom by the Financial Conduct Authority, is acting as nominated adviser to\nthe Company in relation to the matters referred herein. Beaumont Cornish\nLimited is acting exclusively for the Company and for no one else in relation\nto the matters described in this announcement and is not advising any other\nperson and accordingly will not be responsible to anyone other than the\nCompany for providing the protections afforded to clients of Beaumont Cornish\nLimited, or for providing advice in relation to the contents of this\nannouncement or any matter referred to in it.\n\nNeither the Toronto Stock Exchange, nor any other securities regulatory\nauthority, has approved or disapproved of the contents of this news release\n\nSee www.serabigold.com for more information and follow us on X @Serabi_Gold\n\nAttachment\n* 2026.07.23 - Q2 2026 Operational Release - vF\n(https://ml-eu.globenewswire.com/Resource/Download/b87d9c74-eb79-4b7a-af09-1339cc3cb85f)"},"type":"article","timestamp":"2026-07-23T05:00:01.28679995Z","server_sent_at_ms":1784782801286},"received_at":"2026-07-23T05:00:01.378Z","source_url":null},"analysis":{"id":"85098","press_release_id":"96057","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":[],"eventType":"operations_update","narrative":"Serabi Gold reported Q2 2026 production of 11,007 ounces, a 5% increase from the prior year, while ending the quarter with a debt-free balance sheet and $65.7 million in cash.\n\nThe company maintains FY2026 production guidance exceeding 53,000 ounces, supported by expansion projects at the Palito Complex and Coringa Mine which are progressing on schedule.\n\nUpdated resource estimates following the 2025 drilling program show a consolidated M&I resource of 731,000 ounces and an inferred resource of 653,000 ounces.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Serabi maintains record FY2026 guidance on solid Q2 production and strong cash position."},"keyFigures":{"guidance":"FY2026 consolidated production in excess of 53,000 ounces gold","customDimensions":{"cash_balance":65700000,"mi_resource_oz":731000,"inferred_resource_oz":653000,"q2_gold_production_oz":11007}},"quotedText":"Serabi remains in a strong cash position with zero debt and multiple organic growth catalysts expected later this year.","namedEntities":{"people":[{"name":"Mike Hodgson","role":"CEO"},{"name":"Colm Howlin","role":"CFO"},{"name":"Andrew Khov","role":"VP, Head of Investor Relations & Business Development"}],"products":["Gold","Palito Complex","Coringa Mine"],"companies":[{"name":"Serabi Gold plc","ticker":"SRB"},{"name":"Banco Santander","relationship":"lender"},{"name":"Beaumont Cornish Limited","relationship":"Nominated Adviser"},{"name":"Peel Hunt LLP","relationship":"Joint UK Broker"},{"name":"Tamesis Partners LLP","relationship":"Joint UK Broker"},{"name":"Camarco","relationship":"Financial PR"}],"dollarAmounts":[{"amount":"$65.7 million","context":"Cash balance as of 30 June 2026"},{"amount":"$5.3 million","context":"Repaid loan to Banco Santander"},{"amount":"$4 million","context":"One-time G&A and tax charges"}]},"materialImpact":{"score":2,"reasoning":"Routine quarterly production update showing 5% YoY growth and a strong cash position. FY2026 guidance was reaffirmed rather than raised or significantly changed, lacking the surprise factor required for a higher score."},"tickerRelevance":{"others":[{"ticker":"SBI","relevance":"secondary listing"},{"ticker":"SRBIF","relevance":"secondary listing"}],"primary":"SRB"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"routine_ops_update","sectorWeight":"low"}},"event_type":"operations_update","event_type_secondary":["guidance_update"],"sentiment":"bullish","material_impact_score":2,"narrative":"Serabi Gold reported Q2 2026 production of 11,007 ounces, a 5% increase from the prior year, while ending the quarter with a debt-free balance sheet and $65.7 million in cash.\n\nThe company maintains FY2026 production guidance exceeding 53,000 ounces, supported by expansion projects at the Palito Complex and Coringa Mine which are progressing on schedule.\n\nUpdated resource estimates following the 2025 drilling program show a consolidated M&I resource of 731,000 ounces and an inferred resource of 653,000 ounces.","key_figures":{"guidance":"FY2026 consolidated production in excess of 53,000 ounces gold","customDimensions":{"cash_balance":65700000,"mi_resource_oz":731000,"inferred_resource_oz":653000,"q2_gold_production_oz":11007}},"named_entities":{"people":[{"name":"Mike Hodgson","role":"CEO"},{"name":"Colm Howlin","role":"CFO"},{"name":"Andrew Khov","role":"VP, Head of Investor Relations & Business Development"}],"products":["Gold","Palito Complex","Coringa Mine"],"companies":[{"name":"Serabi Gold plc","ticker":"SRB"},{"name":"Banco Santander","relationship":"lender"},{"name":"Beaumont Cornish Limited","relationship":"Nominated Adviser"},{"name":"Peel Hunt LLP","relationship":"Joint UK Broker"},{"name":"Tamesis Partners LLP","relationship":"Joint UK Broker"},{"name":"Camarco","relationship":"Financial PR"}],"dollarAmounts":[{"amount":"$65.7 million","context":"Cash balance as of 30 June 2026"},{"amount":"$5.3 million","context":"Repaid loan to Banco Santander"},{"amount":"$4 million","context":"One-time G&A and tax charges"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-23T05:05:23.716Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"small-cap","eventGravity":"routine_ops_update","sectorWeight":"low"}},"durationMs":111927,"modelName":"glm-4.7"}}