Announcement • Sep 21

Serabi Gold plc Provides Update On 2026 Brownfield Exploration Programme At Palito And Coringa

Serabi Gold plc provided an update on the 2026 brownfield exploration programme at Palito Complex and Coringa Mine. The primary objective of the 2026 brownfield drill programme is to expand the Company’s known gold resources by targeting high probability near mine mineralization at Palito Complex and Coringa Mine as part of Phase II of the Company’s organic growth strategy to expand the Group mineral inventory to 1.5Moz+. All validated results will be incorporated into updated Mineral Resource Estimates for Palito and Coringa, expected during First Quarter 2027. The Company is currently in the second year of its Phase II organic growth strategy to expand the total Group mineral inventory to +1.5Moz Au, with the programme expected to complete October 2026. The 2025 brownfield exploration programme increased consolidated Measured and Indicated resources to 730,800 ounces of contained gold (2,485,800 tonnes @ 9.1 g/t Au) and consolidated inferred resources to 653,300 ounces (2,506,700 tonnes @ 8.1 g/t Au). During First Half 2026, 20,831 metres of diamond drilling were completed, comprising 11,522 metres across 37 holes at Palito and 9,309 metres across 42 holes at Coringa. The 2026 brownfield exploration programme totals 32,000 metres across Palito and Coringa, with six drill rigs currently operating across the two sites. Recent results from the 2026 brownfield exploration programme continue to support resource growth potential including: 26-SR-055 – 1.38 m @ 11.85 g/t Au, including 0.42 m @ 37.10 g/t Au (Coringa Serra South); 26-SR-059 – 2.20 m @ 5.89 g/t Au, including 0.40 m @ 13.40 g/t Au, and 1.19 m @ 6.87 g/t Au, including 0.49 m @ 16.55 g/t Au (Coringa Serra South); 26-ME-013 – 1.70 m @ 16.13 g/t Au, including 0.45 m @ 35.59 g/t Au (Coringa Meio); 26-SR-062 – 1.00 m @ 6.85 g/t Au, including 0.25 m @ 25.80 g/t Au (Coringa Serra); 26-FC-005 – 1.00m @ 10.11 g/t Au, including 0.25m @ 40.30 g/t Au (Coringa Cabaça); 26-ME-006 – 1.50m @ 4.01 g/t Au (Coringa Encosta); 26-MS-001 - 1.12m @ 6.12 g/t Au, including 0.43m @ 15.20 g/t Au (Palito Massa). Results obtained to date have supported a number of new prospective models and reinterpretations. The exploration team is concentrating efforts on specific priority trends while ensuring continuous coverage of the main zones, enabling a more proactive stance while optimizing resource allocation, reduction of rework, and improving overall operations efficiency. Reinterpretation of the G1-G3 corridor at Palito identified new structural drill targets with drilling to follow in Second Half 2026. Updated Mineral Resource Estimates expected in First Quarter 2027 incorporating all validated results from the 2026 brownfield exploration programme. The 2026 brownfield exploration programme at Coringa has drilled 9,309 metres to date in 42 diamond drill holes primarily focused on drilling identified targets along trend to the northwest and southeast of the currently producing Serra and Meio zones. Year-to-date results continue to demonstrate the significant growth potential of the district, with positive results generated from multiple target areas including Serra South, Serra, Meio and satellite targets such as Cabaça and Encosta. Recent drill results continue to confirm the geological controls responsible for the Serra and Meio deposits extend beyond the currently defined resource areas. The discovery of the Serra South zone in 2025, located approximately 500 metres southeast of the currently producing Serra zone, represents significant validation of the Company's exploration model and demonstrates the potential for additional mineralized centres to occur along the broader, district-scale, structural corridor. Recent results include 1.38 m @ 11.85 g/t Au, including 0.42 m @ 37.10 g/t Au, in hole 26-SR-055 and 2.20 m @ 5.89 g/t Au, including 0.40 m @ 13.40 g/t Au, and a second interval of 1.19 m @ 6.87 g/t Au, including 0.49 m @ 16.55 g/t Au, in hole 26-SR-059, confirming continuity of the mineralised system along strike and at depth. Ramp development of Serra South zone commenced in Second Quarter 2026. Drill results from the Meio zone continue to demonstrate potential for resource growth immediately southeast and along trend of the current mining area. Hole 26-ME-013 returned 1.70 m @ 16.13 g/t Au, including 0.45 m @ 35.59 g/t Au. Together with additional positive intersections from holes 26-ME-012, 26-ME-009, 26-ME-010 and 26-ME-007, these results define a mineralized corridor extending for more than 200 metres beyond the limits of the current underground development and highlight the potential for future resource additions and mine-life extension at the Meio zone. At Cabaça, hole 26-FC-005 intersected 1.00 m @ 10.11 g/t Au, including 0.25 m @ 40.30 g/t Au, from approximately 42 metres downhole. The shallow, high-grade intercept confirms the presence of significant gold mineralisation at this satellite target and further demonstrates the potential for additional mineralised centres outside the primary Serra and Meio zones. At Encosta, hole 26-ME-006 intersected 1.50 m @ 4.01 g/t Au from approximately 4 metres downhole. The result provides initial confirmation of a target defined by coincident soil-geochemical and induced-polarisation anomalies and supports an open strike opportunity extending for more than 300 metres. Follow-up drilling in Second Half 2026 was designed to test the lateral and vertical continuity of the mineralised structure. At Sr. Domingos, multiple priority drill targets were generated from discrete induced-polarisation anomalies within a previously untested portion of the Coringa district. The programme represents the first systematic drill evaluation of the target and is designed to determine whether the geophysical responses are associated with sulphide-bearing structures similar to those hosting gold mineralisation elsewhere at Coringa. Initial drill testing commenced during July. At Pista, multiple drill targets have been defined along an approximately 400-metre gold-in-soil anomaly supported by historical artisanal workings, continuous quartz-vein structures and encouraging rock-chip results of up to 7.46 g/t Au. Mapping identified a brecciated quartz vein containing fresh pyrite, together with a broader vein and stockwork system developed along prospective northwest-southeast structural trends. The combination of geochemistry, mapping and surface mineralisation has allowed several priority drill sites to be defined.

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