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Serabi Gold up in UK Trade as Report Shows 29% Jump in Consolidated M&I Resources For Brazil Mines

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-- Serabi Gold's (SBI.TO) updated mineral resource report for its Palito and Coringa mines in Brazil shows consolidated measured and consolidated (M&I) resources jumped 29% to 731,000 ounces of gold, the company said on Tuesday.

The company, which is up 2.4% in UK trade on last look, said the increase compares with 567,400 ounces (2.05 tonnes @ 8.6 grams per tonne) in March 2025 for Palito and April 2024 for Coringa.

The report also showed that proven and probable (2P) reserves at Palito totalled 228,400 ounces (1.15 tonnes at 6.2 grams per tonne gold) compared with 147,000 ounces (646,000 tonnes @ 7.1 grams per tonne gold) in April 2025.

"The healthy increase in our resource estimates confirms the prospectivity of our properties, which is now being unlocked through exploration expenditure backed by our strong balance sheet and cash generation in comparison to our capital constrained history of operation," says chief executive Mike Hodgson.

Serabi has initiated the 2026 brownfield exploration program and will provide an update in the second quarter, Hodgson added.

Serabi shares were last seen up 2.4% to 3.22 pounds in London trading.

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