LONDON, Sept. 30, 2014 (GLOBE NEWSWIRE) -- Serabi Gold plc (AIM:SRB) (TSX:SBI), the Brazilian focused gold mining and development company, is pleased to announce the appointment of Mr. Felipe Swett as a Non-Executive Director of the Company with immediate effect.

Mr. Swett is a Partner 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 Católica de Chile and an MBA from the Kellogg School of Management, Northwestern University.

Mr. Felipe Swett Lira, aged 35, has held the following directorships and /or partnerships in the last 5 years:

Mr. Swett currently holds no ordinary shares in Serabi.

There is no further information on Mr. Swett required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

The Company also announces that the board of directors of Serabi (the "Board") has agreed to award in aggregate 3,200,000 new options over ordinary shares to certain of its non-executive Directors (representing 0.34% of the current issued share capital of 656,389,204 ordinary shares). The options are exercisable at 5.50 pence which compares to the closing mid-market share price in London of 5.50 pence per ordinary share on 29 September 2014. The option awards are as follows:

None of these Directors 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 Mining 2011 Share Option Plan (the "2011 Plan") which the Company adopted on 28 January 2011. On 24 June 2014 shareholders approved the continuing grant of options under the 2011 Plan until 23 June 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.

Copies of this release 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 news release.