Provides Comprehensive Exploration Update for 2025 Brownfield Drilling Campaigns at Palito Complex and Coringa

Executive Summary

• Serabi Gold is midway through a $9 M, 30,000 m brownfield drilling program at Palito Complex and Coringa, reporting several high‑grade intercepts (e.g., 0.53 m @ 151 g/t Au, 0.87 m @ 137 g/t Au).
• Discovery of a new “Serra South” orebody ~500 m south of the existing Serra mine at Coringa and significant strike extensions at both sites are highlighted.
• The 2025 drill program is on track to finish by Dec 2025, with an updated Mineral Resource Estimate planned for Q1‑2026; a follow‑on 2026 program will commence in Q2‑2026.

Key Details

• Program Scope: $9 M budget; 30,000 m total drill length (15,000 m each at Palito and Coringa).
• Drilling Progress: 13,800 m completed at Coringa (64 holes, 25 > 3.0 g/t Au); 10,400 m completed at Palito (35 holes).
• Notable Intercepts – Coringa:
• Hole 25‑SR‑010: 0.53 m @ 151 g/t Au (ALS lab)
• Hole 25‑SR‑028: 0.87 m @ 137.48 g/t Au, including 0.32 m @ 322.10 g/t Au (Palito lab)
• Multiple sub‑meter intervals > 50 g/t Au (e.g., 0.25 m @ 58.80 g/t Au).
• Notable Intercepts – Palito:
• Hole 25‑SE‑004: 1.36 m @ 17.99 g/t Au, including 0.33 m @ 58.40 g/t Au (ALS lab)
• Hole 25‑SR‑028 (Palito): 0.87 m @ 137.48 g/t Au, including 0.32 m @ 322.10 g/t Au (Palito lab)
• Hole 25‑ON‑001: 0.65 m @ 8.18 g/t Au (Onça target).
• New Targets & Geophysics:
• Completed 90 km IP survey at Coringa; identified high chargeability & conductivity anomalies for future drilling.
• Completed 30 km IP survey at Palito; drill‑tested Onça, Jiboia, Mutum targets showing hydrothermal alteration and gold mineralisation.
• Future Plans:
• End‑2025: complete current drill program, then update Mineral Resource Estimate (Q1‑2026).
• Q2‑2026: launch second phase of drilling (≈30,000 m) targeting extensions identified by IP surveys.
• Additional RC drilling planned to evaluate lower‑grade, higher‑volume oxidised zones at Palito.

Notable Quotes

“We’ve seen numerous exciting developments… the discovery of the Serra South zone… is a notable highlight… The approximately 500,000 oz gold resource can be significantly increased by simply drilling strike extensions.” – Mike Hodgson, CEO

Material Assessment: Material – Positive (significant high‑grade drill results and new orebody discovery indicating potential substantial increase to the company’s mineral resource base).