Mr. Michael Hodgson reports

FILING OF NI 43-101 COMPLIANT TECHNICAL REPORT FOR THE CORINGA GOLD PROJECT

Serabi Gold PLC has filed the technical report for its Coringa gold project, prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, and, in particular, updated estimates of mineral resources for Coringa. A summary of the updated estimates of mineral resources was previously announced in the company's news release dated March 4, 2019, the details of which are rereproduced herein. The study was prepared by Global Resource Engineering Ltd. in accordance with NI 43-101 and has been filed on SEDAR and is available on the company's website.

Highlights:

• An indicated resource for Coringa of 216,000 ounces of contained gold (845,000 tonnes at an average in situ grade of 7.95 grams per tonne);
• An additional inferred resource of 298,000 ounces of contained gold (1,436,000 tonnes at an average in situ grade of 6.46 grams per tonne);
• This new mineral resource estimate represents a 37-per-cent increase over the previously disclosed estimation (as of May 3, 2017), which comprised 195,000 ounces gold indicated and 181,000 ounces gold inferred;
• The average reported grade of the indicated resource has decreased by 5 per cent from 8.36 grams per tonne to 7.95 grams per tonne;
• The average reported grade of the inferred resource has increased by 50 per cent from 4.32 grams per tonne to 6.46 grams per tonne;
• The mineral resource estimate incorporates seven of the nine identified gold-hosting zones at Coringa;
• There are insufficient geological data to include the Domingo and Pista zones as a mineral resource at this time;
• Further drilling has been completed and the results from this will be included in the preliminary economic assessment (PEA), which is under way and the result of which the company expects to announce before the end of June, 2019.

Note: All resource figures stated herein are both gross and net attributable to Serabi.

The mineral resource estimate was prepared by Kevin Gunesch, PE, and Dr. Hamid Samari, QP-MMSA, of Global Resource Engineering, who are both qualified persons under NI 43-101.

Mineral resource estimates

The current mineral resource estimates for the Coringa mine (see attached table) are based on data as at Feb. 11, 2019.

                 MINERAL RESOURCE STATEMENT, CORINGA MINE, 
                  PARA STATE, BRAZIL, AS OF MARCH 4, 2019
                        
Classification        Vein width      Quantity       Grade     Contained metal
                              (m)      (000s t)    (g/t Au)        (000s oz Au)     
                                                          
Underground
Indicated                    0.7           845         7.95                216
Total indicated
Underground
Inferred                     0.7         1,436         6.46                298

Notes:
(1) Mineral resources have been rounded. Mineral resources are not mineral 
reserves and have not demonstrated economic viability. Mineral resources are 
reported inclusive of mineral reserves. All figures are rounded to reflect 
the relative accuracy of the estimates. Underground mineral resources are 
reported within classification domains inclusive of in situ dilution at a 
cut-off grade of 2.0 grams per tonne gold, assuming an underground extraction 
scenario, a gold price of $1,500 (U.S.) per ounce, an operating cost of 
$100 per tonne and metallurgical recovery of 95 per cent.
(2) Serabi is the operator and owns 100 per cent  of the Coringa gold project 
such that gross and net attributable mineral resources are the same. The 
mineral resource estimate was prepared by Global Resource Engineering in 
accordance with the standard of CIM (Canadian Institute of Mining, Metallurgy 
and Petroleum) and NI 43-101, with an effective date of March 4, 2019, by 
Mr. Gunesch and Dr. Samari, who are both qualified persons under NI 43-101.

Qualified persons and quality control

The scientific and technical information contained in this news release pertaining to the Coringa gold project has been reviewed and approved by the following qualified persons under NI 43-101, Standards of Disclosure for Mineral Projects:

• Kevin Gunesch, PE, Global Resource Engineering;
• Dr. Hamid Samari, QP-MMSA, Global Resource Engineering.

The qualified persons have verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying the information or opinions contained in this announcement in accordance with standards appropriate to their qualifications.

Historical estimates

Historical resources estimates for the Coringa orebody are documented in the technical reports entitled "Coringa Gold Project, Brazil, NI 43-101 Technical Report," dated June 15, 2017, and "Coringa Gold Project, Brazil, Feasibility Study NI 43-101 Technical Report," dated Sept. 8, 2017, which are filed on the company's website and on SEDAR.

We seek Safe Harbor.