Update on Palito Drilling Programme

Serabi Mining Plc
                          ("Serabi" or the "Company")

  Update on Palito Drilling Programme - Drilling expected to commence in early
                                    December


The Board of Serabi Mining plc, the AIM-traded gold exploration company, is
pleased to advise that it anticipates that its proposed 7,500 metre discovery
drilling programme over the previously advised 9 target areas will commence in
early December.

The Company's preferred contractor is in the process of importing an additional
drill rig and upon clearance will then be able to mobilise a crew and other
equipment to Palito to commence the programme.


Mike Hodgson, Chief Executive, commented:

"We are delighted to have a clear timetable to now work to and pleased that we
are now in the position to get the programme underway.  We would anticipate that
the first drilling results will be available early in 2011"


A map showing the drill target locations is attached to this release

Enquiries:

Serabi Mining plc
Mike Hodgson  Tel: [phone]
Chief Executive Mobile: [phone]

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

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

Beaumont Cornish Limited
Nominated Adviser
Roland Cornish Tel: [phone]
Michael Cornish Tel: [phone]

Hybridan LLP
Broker
Claire Noyce Tel: [phone]

Farm Street Communications
Public Relations
Simon Robinson 07593 340107

Copies of this release are available from the company's website
www.serabimining.com.


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Drill Target Locations: 


http://hugin.info/137617/R/1455174/395171.jpg




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Source: Serabi Mining plc via Thomson Reuters ONE