Serabi Gold plc - Appointment of New Director

LONDON -- (Marketwired - Jul 29, 2013) - Serabi Gold plc (AIM: SRB) (TSX: SBI), the Brazilian focused gold mining and exploration company, is pleased to announce the appointment of Mr. Daniel Kunz as a Non-Executive Director of the Company with immediate effect. Mr. Kunz was previously Chairman of Kenai Resources Ltd ("Kenai") and has joined the Board Directors of Serabi following the completion of the acquisition by Serabi of Kenai on 18 July 2013.

Mr. Kunz has more than 30 years of experience in the mining industry and has held various executive level positions in a number of mining companies, including Turquoise Hill Resources Ltd (NYSE: TRQ) (formerly Ivanhoe Mines Ltd) where he served as President, Chief Operating Officer and Director from 1997 to 2003 and led the team that discovered Oyu Tolgoi, one of the world's largest copper-gold deposits.

In 2003 Mr. Kunz founded a geothermal renewable energy company by acquiring the Raft River geothermal test site in his home state of Idaho. Mr. Kunz led the subsequent IPO of US Geothermal Inc (NYSE: HTM) on the Toronto Stock Exchange (the"TSX")and NYSE in 2004 and then led U.S. Geothermal Inc in its development and construction of three new geothermal power plant projects, retiring as chief executive and a member of the board of directors in April 2013.

In June 2013 Mr. Kunz was appointed Executive Chairman of Zinco do Brasil Inc. (ZNBR), a mine development company focused on bringing into production an advanced stage zinc project in Brazil.

Mr. Kunz holds a Masters of Business Administration and a Bachelor of Science in Engineering.

Mr. Daniel (Dan) James Kunz, 61, has held the following directorships and /or partnerships in the last 5 years:

Current                        Past
Chesapeake Gold Corp           U.S. Geothermal Inc
Silver Bull Resources          Jinshan Gold Mines Inc.
Gunpoint Exploration Ltd       Sharprock Resources Inc.
Kazax Minerals Inc              Kenai Resources Ltd
Zinco do Brasil Inc.

Mr. Kunz is interested in 5,564,726 Serabi shares and under the terms of the acquisition of Kenai has received the following share options that replace the options he previously held to acquire shares in Kenai.

Number of options     Exercise price      Expiry
127,500               C$0.2941            7 June 2016

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



Enquiries:

Serabi Gold plc
Michael Hodgson, Chief Executive
Tel: +44 (0)20 7246 6830
Mobile: +44 (0)7799 473621

Clive Line, Finance Director
Tel: +44 (0)20 7246 6830
Mobile: +44 (0)7710 151692
Email: contact@serabigold.com
Website: www.serabigold.com

Beaumont Cornish Limited
Nominated Adviser, Roland Cornish
Tel: +44 (0)20 7628 3396
Michael Cornish
Tel: +44 (0)20 7628 3396

Peel Hunt LLP
UK Broker, Matthew Armitt
Tel: +44 (0)20 7418 9000
Andy Crossley
Tel: +44 (0)20 7418 9000

Blythe Weigh Communications Ltd
Public Relations, Tim Blythe
Tel: +44 (0)20 7138 3204
Mobile: +44 7816 924626
Eleanor Parry
Tel: +44 (0)20 7138 3206
Mobile: +44 7551 293620

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.