Mr. Michael Hodgson reports

SERABI GOLD PLC ("SERABI" OR THE "COMPANY") APPOINTMENT OF DIRECTOR AND AWARD OF SHARE OPTIONS

Serabi Gold PLC has appointed Felipe Swett as a non-executive director of the company with immediate effect.

Mr. Swett is a partner of and heads the asset management team at Asset Chile, a Chilean-based investment bank. Mr. Swett joined Asset Chile in 2003 as an analyst and as part of the corporate finance team and has led the asset management division since 2010. Mr. Swett holds a degree in civil engineering with a diploma in environmental engineering from the Pontificia Universidad Catolica de Chile and an MBA from the Kellogg School of Management, Northwestern University.

Mr. Swett, aged 35, has held the following directorships and/or partnerships in the last five years:

• Current:
  • Hinman Ltda.;
  • Asset Chile S.A.;
  • Asset Administradora General de Fondos S.A.;
  • Asset S.A.;
  • Foresta Administradora de Fondos de Inversion S.A.;
  • Sociedad Forestal S.A.;
  • Las Petacas SPA;
  • Domeyko SPA;
  • Inmobiliaria Santa Fe Ltda.;
• Past:
  • None.

Mr. Swett currently holds no ordinary shares in Serabi.

There is no further information on Mr. Swett required to be disclosed under Schedule 2, paragraph (g) (i)-(viii) of the Alternative Investment Market rules for companies.

The company also announces that the board of directors of Serabi has agreed to award 3.2 million new options over ordinary shares to certain of its non-executive directors (representing 0.34 per cent of the current issued share capital of 656,389,204 ordinary shares). The options are exercisable at 5.50 British pence which compares with the closing mid-market share price in London of 5.50 British pence per ordinary share on Sept. 29, 2014.

        OPTION AWARDS 
                     Number of new options 
Director              over ordinary shares

Nicolas Banados                  1,200,000                                 
Hector Aquiles                   1,000,000                                 
Felipe Swett                     1,000,000                                 
                                 ---------
                                 3,200,000                                 

None of the directors granted options currently hold any share options in the company and this award is in line with previous awards made to other non-executive directors.

The options have been granted under the Serabi 2011 share option plan which the company adopted on Jan. 28, 2011. On June 24, 2014, shareholders approved the continuing grant of options under the 2011 plan until June 23, 2017. The options granted will vest in three equal tranches, with one-third vesting and being exercisable immediately on award, one-third vesting on the first anniversary of the award and the remainder vesting on the second anniversary of the award, and the options will lapse three years after the date of the award.