Serabi Gold plc announced the appointment of Mr. Michael Lynch-Bell as a Non-executive Director and Chairman with immediate effect. The Company also announces that Mr. Bañados, who has acted as Non-executive Chairman since June 2020, will continue in office as a Non-executive director. Mr. Lynch-Bell spent a 38-year career with Ernst & Young (“EY”), having led its Global Oil and Gas, UK IPO and Global Oil and Gas and Mining transaction advisory practices.

He was a member of EY's assurance Practice from 1974 to 1996, when he transferred to the Transaction Advisory Practice. He was also UK Alumni sponsor and a member of the firm's Europe, Middle East, India, and Africa and Global Advisory Councils. He retired from EY as a partner in 2012 and continued as a consultant to the firm until November 2013.

Mr. Lynch-Bell is a non-executive director of London-listed Gem Diamonds Limited, independent non-executive chairman of Little Green Pharma and independent non-executive director of Barloworld Limited. Mr. Lynch-Bell will be appointed as Chair of the Audit Committee and also serve on the Remuneration Committee. Mr. Lynch-Bell (FCA) graduated with a BA Hons Economics and Accountancy (University of Sheffield) and is a member of the Institute of Chartered Accountants in England and Wales.

Mr. Eduardo Rosselot, who has served as a Director of Serabi since October 2012 is standing down from the Board. Mr. Rosselot was one of two representatives on the Board, alongside Mr. Bañados, appointed by Fratelli Investments Limited. Fratelli are not seeking to replace Mr. Rosselot and will only have one representative appointed to the Board.