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

The Board of Serabi announces that Bill Clough and, by their
respective pension funds, Clive Line and Mike Hodgson, Directors of
the Company, have today agreed to subscribe for new Ordinary Shares
at the Placing Price for a total consideration of £81,996 as follows:


Director                Number of new Total number of      Percentage
                      Ordinary Shares Ordinary Shares     interest in
                    subscribed for at      held after Enlarged Issued
                    the Placing Price       Admission  Ordinary Share
                                                              Capital
Bill Clough                 1,000,000      40,078,617  12.2 per cent.
Mike Hodgson (by            2,233,200       3,923,200   1.2 per cent.
his pension fund)
Clive Line (by              2,233,200       4,176,533   1.3 per cent.
his pension fund)


Bill Clough, Clive Line and Mike Hodgson (or their respective pension
funds) did not subscribe for any Ordinary Shares in the Open Offer.

In addition, to meet market demand, the Company has placed a further
4,999,999 new Ordinary Shares at the Placing Price for a total
consideration of £75,000. The Company currently plans no further
equity issues although it is reviewing the Company's existing option
arrangements.

As a result of the First Placing, the Open Offer, the Convertible and
other issues of shares completed since 10 November 2009, including
those detailed above, the Company has raised gross proceeds of £2.8
million from subscriptions other than by the Directors, which will be
used to commence the first stage of exploration and further
evaluation of the 18 prioritised geophysical anomalies identified by
the Company near to its Palito mine and to fund the general working
capital requirements of the Group.

Application will be made to the London Stock Exchange for the New
Ordinary Shares to be admitted to trading on AIM. It is expected that
Admission will become effective and that dealings in the New Ordinary
Shares will commence on AIM at 8.00 a.m. on 9 December 2009. The New
Ordinary Shares will, when issued and fully paid, rank pari passu in
all respects with the Existing Ordinary Shares including the right to
receive all dividends and other distributions declared, made or paid
after the date of their issue. The Enlarged Issued Share Capital
following Admission will be 327,740,595 Ordinary Shares in aggregate.

Enquiries:

Serabi Mining plc
Clive Line, Finance Director Tel: 020 7246 6830 Mobile: 07710 151 692
Website: www.serabimining.com

Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish / Michael Cornish Tel: 020 7628 3396

Farm Street Communications
Simon Robinson Tel: 07593 340 107


This announcement is for information only and shall not constitute an
offer to buy, sell, issue, or  subscribe for, or the solicitation  of
an offer to buy, sell or issue, or subscribe for any securities,  nor
shall there be any  sale of securities in  any jurisdiction in  which
such  offer,  solicitation  or  sale  would  be  unlawful  prior   to
registration or qualification under the  securities laws of any  such
jurisdiction. This announcement has  been issued by  and is the  sole
responsibility of Serabi.
                             DEFINITIONS


"Additional Placing        the 5,000,000 Ordinary Shares subscribed
Shares"                    for at the Placing Price as set out in
                           this announcement

"Admission"                admission of the New Ordinary Shares to
                           trading on AIM becoming effective in
                           accordance with the AIM Rules

"AIM"                      a market operated by the London Stock
                           Exchange

"Company" or "Serabi"      Serabi Mining Plc

"Convertible"              an unsecured £300,000 convertible loan
                           facility, convertible into up to
                           20,000,000 new Ordinary Shares at 1.5
                           pence per share

"Directors" or the "Board" the directors of the Company as at the
                           date of this announcement

"Directors' Subscription"  in aggregate the 5,466,400 new Ordinary
                           Shares subscribed by Bill Clough and the
                           respective pension funds of Clive Line and
                           Mike Hodgson at the Placing Price

"Enlarged Issued Share     the Ordinary Shares in issue on Admission
Capital"                   comprising the Existing Ordinary Shares,
                           the Open Offer Shares and the New Ordinary
                           Shares

"Existing Ordinary Shares" the existing Ordinary Shares of the
                           Company in issue at the date of this
                           announcement

"First Placing"            the placing by the Company announced on 10
                           November 2009 of 144,534,500 Ordinary
                           Shares at 1.5 pence per share

"New Ordinary Shares"      the Directors' Subscription and the
                           Additional Placing Shares

"Open Offer"               the conditional offer to subscribe for
                           Open Offer Shares at the Placing Price
                           made by the Company on the terms set out
                           in the Circular dated 17 November 2009

"Open Offer Shares"        21,151,613 Ordinary Shares under the Open
                           Offer

"Ordinary Shares"          ordinary shares of 0.5 pence each in the
                           capital of the Company

"Placing Price"            1.5 pence for each Ordinary Share

"Shareholder"              a holder of Ordinary Shares from time to
                           time.




ENDS

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solely responsible for the content of this announcement.