Accident at Palito Mine

For immediate release

12 February 2019

Serabi Gold plc
(“Serabi” or the “Company”)

Accident at Palito Mine

Serabi Gold Plc (AIM:SRB, TSX:SBI), regrets to announce a fatality at its Palito Gold Mine in Brazil in a mining-related accident on 11 February 2019. The accident involved one of the Company’s employees who sustained a crush related injury and sadly died from his injuries.

The Company is investigating the cause of the accident, has notified the relevant authorities, including the police, and is providing all necessary assistance for the enquiries into this incident. Production in the area of the incident has been suspended until such a time as the outcome of the enquiries has been reached.

The directors and management of Serabi express their sincere condolences to the family and colleagues of the deceased and the Company is providing all necessary support to the family.

Mike Hodgson, Chief Executive Officer, said:

“We are deeply saddened to announce a fatal accident at our Palito mining operation on February 11^th during the day shift. I join with all of my colleagues and fellow directors in expressing our sincere condolences to the family and friends of the deceased."

The person who arranged for the release of this announcement on behalf of the Company was Clive Line, Director.

Enquiries:

Copies of this announcement are available from the Company's website at www.serabigold.com.

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