REG-Reports Q4-2025 Production, Record Annual Production, Production Guidance Achieved & Operational Highlights

Serabi GoldAnnouncement

Today 06:30

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Reports Q4-2025 Production, Record Annual Production, Production Guidance
Achieved & Operational Highlights

Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI,
OTCQX:SRBIF), the Brazilian focused gold mining and development company, is
pleased to announce the Company’s fourth quarter production results and
operating highlights for FY2025 (all financial amounts are expressed in U.S.
dollars unless otherwise indicated).

Q4-2025 OPERATIONAL HIGHLIGHTS & 2026 GUIDANCE
* Quarterly gold production of 11,534 ounces, a 15% increase from Q4-2024.
* Record annual gold production of 44,169 ounces, achieving production
guidance and an 18% increase on FY2024 gold production.
* A total of 4,535 metres of horizontal development for the quarter, a 45%
increase from Q4-2024.
* Cash held as at 31 December 2025 of $49.2 million, with a further $5.1
million received on 2 January 2026 for sales registered during December 2025
vs $38.8 million as at 30 September 2025, an increase of $10.4 million during
the quarter ($15.5 million inclusive of the $5.1 million).
* Net cash at quarter-end (after interest bearing loans and lease liabilities)
of $42.1 million (Q3-2025: $33.0 million).
* 2026 consolidated production guidance of 53,000 – 57,000 ounces gold.
Mike Hodgson, CEO of Serabi, commented:

“We are very pleased with the performance of the Palito Complex and Coringa
Mine during the fourth quarter, concluding yet another positive year with many
milestones achieved for Serabi. Highlights for the year include: a record
annual production in line with guidance; the continued ramp up of the Coringa
Mine; the successful operation of the Coringa classification plant; the
execution of our 2025 brownfield exploration programme; and the announcement
of our inaugural shareholder return policy. We continue to make progress on
the execution of Phase I and II of our growth strategy, with our enhanced
balance sheet positioning us well to continue this momentum in 2026.

Our record annual production of 44,169 ounces, representing a 18% increase vs
FY2024, was driven by the ramp up of the Coringa Mine. During the year,
production from the Serra zone continued according to plan. We began producing
from a second zone, the Meio zone, which contributed to the overall growth in
our production. We successfully utilized mechanized mining at the Meio zone
and sections of the Serra zone and while this entails higher mined dilution,
this can be simply removed by the ore sorter with the net effect being that
mechanised mining is safer, more cost efficient, and speeds up production. The
ramp up of the Coringa Mine continues as we are progressing well with our
portal at our third zone, the Galena zone, which is expected to contribute
significant development ore during 2026.

At Coringa, the ore sorter was instrumental in achieving our record annual
production, operating successfully for the entire year. As reported during the
year, we took advantage of favourable economics and have been using the ore
sorter to process low grade ore stockpiled since the Coringa Mine opened,
whilst higher grade run of mine (ROM) has been transported directly to the
Palito Complex processing plant. This strategy enabled us to produce more
ounces from Coringa this year than originally planned. In 2026, it will only
be ROM ore passing through the ore sorter which should entail higher plant
feed grades.

During the year, we announced an ‘aggressive’ 30,000 metre brownfield
exploration programme as part of our Phase II growth strategy. While the
programme has concluded, we are awaiting additional assay results which should
be communicated to investors in due course. Our drilling results to date have
been encouraging to say the least, with the discovery of the Serra South zone
at Coringa, located approximately 500 metres south of the currently producing
Serra zone. We successfully extended the Meio zone trend at Coringa, whilst at
the Palito Complex we extended the north and south extensions of the currently
producing Senna zone. These successes indicate we remain on track to achieve
our Phase II growth target of increasing the current mineral resource
inventory to 1.5Moz Au - 2.0Moz Au. We intend to continue this momentum in
2026, with an additional 30,000m brownfield exploration programme. In H1-2026,
we plan to release the updated mineral resource estimates incorporating the
2025 brownfield exploration programme, for investors to confirm the progress
in our consolidated resource growth.

Our cash position continues to grow, driven by unprecedented gold prices and
the strong operational performance of our mines. We anticipate another record
year of production in 2026, with production guidance of 53,000 ounces to
57,000 ounces. We also expect further growth in our cash balance in 2026 and
remain well financed to execute our growth plans for the year at Coringa, our
2026 brownfield exploration programme and to deliver on our shareholder return
policy.”

OPERATIONAL RESULTS

 SUMMARY PRODUCTION STATISTICS FOR 2025 AND 2024                                                                              
                                            Q1      Q2      Q3      Q4      Fiscal   Q1      Q2      Q3      Q4      Fiscal   
                            2025                    2025    2025    2025    2025     2024    2024    2024    2024    2024     
 Group                                                                                                                        
 Gold production ((1)(2) )  Ounces          10,013  10,532  12,090  11,534  44,169   9,007   9,003   9,489   10,022  37,520   
 Mined ore                  Tonnes          44,924  52,032  51,625  55,899  204,480  56,296  59,564  58,682  50,327  225,049  
                            Au grade (g/t)  7.09    6.72    7.24    6.65    6.91     5.31    5.06    5.48    6.19    5.49     
 Milled ore                 Tonnes          48,155  51,246  53,991  55,607  208,899  54,521  55,192  54,579  52,363  216,655  
                            Au grade (g/t)  6.7     6.67    7.18    6.63    6.80     5.38    5.31    5.59    6.21    5.61     
 Horizontal development     Metres          3,505   3,850   3,706   4,535   15,596   3,131   3,550   3,325   3,129   13,135   
 Palito Complex                                                                                                               
 Gold production ( (1)(2))  Ounces          4,666   5,607   5,246   4,638   20,158   5,135   4,251   3,648   4,369   17,404   
 Mined ore                  Tonnes          25,267  29,294  26,352  27,129  108,042  36,471  30,488  26,878  23,642  117,479  
                            Au grade (g/t)  6.15    6.22    6.29    5.48    6.04     4.72    4.52    4.34    6.10    4.86     
 Milled ore                 Tonnes          24,328  29,885  27,081  27,226  108,521  35,861  30,750  27,454  23,719  117,785  
                            Au grade (g/t)  6.25    6.15    6.25    5.47    6.03     4.73    4.56    4.33    6.05    4.86     
 Horizontal development     Metres          1,979   2,004   2,125   2,161   8,269    2,153   2,315   1,859   1,948   8,275    
 Coringa                                                                                                                      
 Gold production ((1)(2))   Ounces          5,347   4,925   6,843   6,895   24,010   3,871   4,752   5,841   5,653   20,117   
 Mined ore                  Tonnes          19,657  22,738  25,273  28,770  96,438   19,825  29,076  31,984  26,685  107,569  
                            Au grade (g/t)  8.31    7.35    8.23    7.74    7.04     6.39    5.62    6.44    6.27    6.17     
 Milled ore                 Tonnes          23,827  21,361  26,909  28,381  100,479  18,660  24,441  27,125  28,645  98,871   
                            Au grade (g/t)  7.17    7.39    8.13    7.75    7.64     6.61    6.25    6.87    6.34    6.51     
 Horizontal development     Metres          1,526   1,846   1,581   2,374   7,327    978     1,235   1,466   1,181   4,860    

           (1)   The table may not sum due to rounding.

           (2)   Production numbers are subject to change
pending final assay analysis from refineries.

Group production for the fourth quarter was 11,534 ounces. Group ore mined
during the quarter was 55,899 tonnes @ 6.65 g/t Au compared to 51,625 tonnes
at 7.24 g/t Au for the third quarter of 2025. The Palito Complex process plant
treated 55,607 tonnes @ 6.63 g/t Au compared to 53,991 tonnes @ 7.18 g/t Au
for Q3-2025.

A total of 4,535 metres of horizontal development has been completed for the
quarter of which 2,293 metres was ore development. The balance was the ramp,
crosscuts and stope preparation development.

The Coringa Mine continues to perform well. On the Serra zone, production was
focused on the levels of 260m, 225m, 195m, and 158m, with development on
levels 158m, 143m and 125m. The Meio zone with levels 356m, 336m and 318m
under development and stoping production on the 336m level.

The Palito Complex production and development is varied, with production from
the Barrichello, Mogno, Piquet and G3 zones. Development is ongoing on the
Senna, Piquet, G3, Barrichello, Mogno, and Senna zones, ranging from the upper
levels of 167m down to -210m level on G3.

FINANCE UPDATE

Cash balance at the end of December 2025 was $49.2 million, in comparison to
the cash balances at the end of December 2024 of $22.2 million. Logistics
issues delayed the shipment of some copper/gold concentrate during the
quarter. This resulted in the delay of receiving a further $5.1 million until
2 January 2026. On 6 January 2025 the Company fully repaid its $5.0 million
unsecured loan arrangement with Itau Bank in Brazil which carried an interest
coupon of 8.47%. On 16 January 2025, the Group secured a new $5.0 million loan
from Banco Santander. The Banco Santander loan is repayable as a bullet
payment on 16 January 2026 and carries an interest coupon of 6.16%. The
Company had a net cash balance at the end of Q4-2025 (after interest bearing
loans and lease liabilities) of $42.1 million (31 December 2024: net cash
$16.2 million).

FY2026 PRODUCTION GUIDANCE

The Company expects FY2026 consolidated production of 53,000 – 57,000 ounces
gold.

About Serabi Gold plc
Serabi Gold plc is a gold exploration, development and production company
focused on the prolific Tapajós region in Para State, northern Brazil. The
Company has consistently produced 30,000 to 40,000 ounces per year with the
Palito Complex and is planning to double production in the coming years with
the construction of the Coringa Mine. Serabi Gold plc recently made a
copper-gold porphyry discovery on its extensive exploration licence. The
Company is headquartered in the United Kingdom with a secondary office in
Toronto, Ontario, Canada.

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.

The person who arranged for the release of this announcement on behalf of the
Company was Andrew Khov, Vice President, Investor Relations & Business
Development.

Enquiries

SERABI GOLD plc
Michael Hodgson        t +44 (0)20 7246 6830
Chief Executive        m +44 (0)7799 473621

Colm Howlin        
Chief Financial Officer        m +353 89 6078171

Andrew Khov         m +1 647 885 4874
Vice President, Investor Relations & 
Business Development
        e contact@serabigold.com

        www.serabigold.com

BEAUMONT CORNISH Limited
Nominated Adviser & Financial Adviser
Roland Cornish / Michael Cornish        t +44 (0)20 7628 3396

PEEL HUNT LLP
Joint UK Broker
Ross Allister / Georgia Langoulant        t +44 (0)20 7418 9000

TAMESIS PARTNERS LLP
Joint UK Broker
Charlie Bendon/ Richard Greenfield        t +44 (0)20 3882 2868

CAMARCO
Financial PR - Europe
Gordon Poole / Fergus Young                t +44 (0)20 3757
4980

Assay Results
Assay results reported within this release include those provided by the
Company's own on-site laboratory facilities at Palito and have not yet been
independently verified. Serabi closely monitors the performance of its own
facility against results from independent laboratory analysis for quality
control purpose. As a matter of normal practice, the Company sends duplicate
samples derived from a variety of the Company's activities to accredited
laboratory facilities for independent verification. Since mid-2019, over
10,000 exploration drill core samples have been assayed at both the Palito
laboratory and certified external laboratory, in most cases the ALS laboratory
in Belo Horizonte, Brazil. When comparing significant assays with grades
exceeding 1 g/t gold, comparison between Palito versus external results record
an average over-estimation by the Palito laboratory of 6.7% over this period.
Based on the results of this work, the Company's management are satisfied that
the Company's own facility shows sufficiently good correlation with
independent laboratory facilities for exploration drill samples. The Company
would expect that in the preparation of any future independent
Reserve/Resource statement undertaken in compliance with a recognized
standard, the independent authors of such a statement would not use Palito
assay results without sufficient duplicates from an appropriately certificated
laboratory.

Forward-looking statements
Certain statements in this announcement are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ‘‘believe’’, ‘‘could’’, “should”
‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’,
‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those,
variations or comparable expressions, including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors’ current expectations and assumptions regarding the
Company’s future growth, results of operations, performance, future capital
and other expenditures (including the amount, nature and sources of funding
thereof), competitive advantages, business prospects and opportunities. Such
forward looking statements reflect the Directors’ current beliefs and
assumptions and are based on information currently available to the Directors.
Several factors could cause actual results to differ materially from the
results discussed in the forward-looking statements including risks associated
with vulnerability to general economic and business conditions, competition,
environmental and other regulatory changes, actions by governmental
authorities, the availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which are beyond
the control of the Company. Although any forward-looking statements contained
in this announcement are based upon what the Directors believe to be
reasonable assumptions, the Company cannot assure investors that actual
results will be consistent with such forward looking statements.

Qualified Persons Statement
The scientific and technical information contained within this announcement
has been reviewed and approved by Michael Hodgson, a Director of the Company.
Mr Hodgson is an Economic Geologist by training with over 30 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 and
Oil & Gas Companies dated June 2009.

Notice
Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

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

See www.serabigold.com for more information and follow us on X @Serabi_Gold