Result of AGM

Result of AGM

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Results of Annual General Meeting

Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, announces that at the Annual General Meeting of the Company held at 2:00 pm on 13 June 2024, Shareholders approved all the ordinary and special resolutions (the “Resolutions”) proposed in the notice of meeting dated 10 May 2024 (the “Notice of Meeting”).

Unless otherwise stated all defined terms in this announcement are consistent with the definitions set out in the Notice of Meeting.

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The voting was determined by a poll and the results in respect of each Resolution were as follows:

RESOLUTION VOTES

FOR

% VOTES

AGAINST

% VOTES

TOTAL

% of ISC* VOTED VOTES

WITHHELD

1. That the Directors’ Report and financial statements of the Company for the year ended 31 December 2023 be received and adopted. 46,355,546 100.00% 550 0.00% 46,356,096 61.2% 5,691
2. To re-elect Mr Michael Hodgson as a Director. 46,214,100 99.76% 112423 0.24% 46,326,523 61.2% 35,444
3. To re-elect Mr Luis Azevedo as a Director. 44,493,296 96.04% 1,833,227 3.96% 46,326,523 61.2% 35,444
4. To re-elect Mr Michael D Lynch-Bell as a Director. 46,304,362 99.95% 22,161 0.05% 46,326,523 61.2% 35,444
5. To re-elect Ms Carolina Margozzini as a Director. 44,493,261 96.04% 1,832,221 3.96% 46,325,482 61.2% 36,485
6. To re-elect Ms Deborah Gudgeon as a Director. 46,207,564 99.75% 117,418 0.25% 46,324,982 61.2% 7,232
7. To re-elect Mr Mark Sawyer as a Director . 44,478,099 96.01% 1,848,424 3.99% 46,326,523 61.2% 35,444
8. To re-elect Mr Clive Line as a Director . 46,197,862 99.72% 128,661 0.28% 46,326,523 61.2% 5,691
9. To re-appoint PKF Littlejohn LLP as auditor of the Company. 46,337,871 99.96% 16,959 0.04% 46,354,830 61.2% 6,957
10. To authorise the Audit and Risk Committee of the Company to fix the auditors’ remuneration and the terms of their engagement. 46,349,318 99.99% 6,778 0.01% 46,356,096 61.2% 5,691
11. That the Directors be and are hereby authorised to allot shares in the Company up to a nominal value of £2,500,000. 46,284,099 99.93% 32,708 0.07% 46,316,807 61.2% 45,150
12. That subject to the passing of resolution 11, the Directors are empowered to allot equity securities for cash, up to (a) a maximum nominal value of £757,000 and (b) a further nominal amount of 20% of the allotment or slae under (a) for the purpose of a follow-on offer. 46,169,772 99.70 141,054 0.30 46,310,826 61.1% 51,141
13. That subject to the passing of resolution 11, the Directors, in addition to the authority granted under resolution 12, are empowered to allot equity securities for cash, up to (a) a maximum nominal value of £757,000 for the purpose of financing an acquisition or other capital investment and (b) ) a further nominal amount of 20% of the allotment or sale under (a) for the purpose of a follow-on offer. 46,172,696 99.70 138,130 0.30 46,310,826 61.1% 51,141
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* ISC – Issued Share Capital

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

Enquiries

SERABI GOLD plc

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

Clive Line        t +44 (0)20 7246 6830
Finance Director        m +44 (0)7710 151692

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        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 / Emily Hall                t +44 (0)20 3757 4980

HARBOR ACCESS

Financial PR – North America

Jonathan Patterson / Lisa Micali                t +1 475 477 9404

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

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

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.

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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.

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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


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