DIRECTORS SHARE TRANSACTIONS AND AWARD OF OPTIONS

PRESS RELEASE

3 December 2007

SERABI MINING plc ("Serabi" or "the Company")

DIRECTORS SHARE TRANSACTIONS AND AWARD OF OPTIONS


Serabi has been informed that Michael Hodgson, Chief Executive of
Serabi has purchased 90,000 ordinary shares of the
company at a price of 28.00 pence per share.  As a result of this
transaction Mr Hodgson has a beneficial interest in
90,000 ordinary shares representing 0.06% of the issued capital of
the Company.


The Company also  advises that pursuant  to contractual  arrangements
agreed with  Mr  Hodgson  in  respect of  his  appointment  as  Chief
Executive (as  announced on  29  August 2007),  he has  been  awarded
options in accordance  with the  Company's Long  Term Incentive  Plan
(the  "Plan")  over  400,000  ordinary  shares  of  10  pence   each,
exercisable at 36.85 pence.  Subject to the conditions set out in the
Plan these options may be exercised up until 2 December 2017.

Enquiries

Serabi             Mining              plc

Graham Roberts       Tel: [phone]
Chairman                   Mobile: [phone]

Clive Line                 Tel: [phone]
Finance Director         Mobile: [phone]

E-mail:                       [e-mail]
Website:                    www.serabimining.com


Numis Securities Limited
John Harrison         Tel: [phone]
James Black           Tel: [phone]

Parkgreen Communications
Simon Robinson     Tel:  [phone]
Beth Harris             Tel:  [phone]

Notes to Editors

The  Tapajos  region  of  northern  Brazil  encompasses  an  area  of
approximately 100,000  km²,  primarily situated  in  south-west  Para
State.  It has a significant history of alluvial gold production with
estimated gold  production of  some 30  million ounces  having  being
recovered, primarily from artisanal workings.

Present in the Tapajos  since 1999, Serabi  has established the  only
'hard rock' mine in the region to date at its Palito gold mine, which
produced 39,197  ounces  of  gold equivalent  in  2006  and  achieved
commercial production at Palito in October 2006

Serabi has a significant exploration programme focused on the Tapajos
region, owns and operates four surface drilling rigs and has its  own
assay laboratory.

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