Akobo Minerals

Report Publication Announcement • Jun 19, 2023

Akobo Minerals announces publication of its 2022 Group Annual Report

Akobo Minerals announces publication of its 2022 Group Annual Report

OSLO, 19 June 2023:?Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO),

the Scandinavian-based Ethiopian gold exploration and boutique mining company,

today published its 2022 Group Annual Report. The report is available on the

company's website at:  Akobo Minerals Group annual report

2022 (https://akobominerals.com/wp-content/uploads/2023/06/Akobo-Minerals-Annual

-Report-2022-FINAL.pdf)

Commenting on the company's performance for the year, Jørgen Evjen, CEO of Akobo

Minerals, stated: "2022 was an incredibly important and productive year for the

company. We managed to put in place all the necessary operational elements -

including breaking ground on our mine, securing the necessary processing plant,

adding significant numbers of employees and pushing ahead with our leading ESG

program - to prepare us for first gold, and with it cashflow, in 2023.

"The road to becoming Ethiopia's first operating gold mine in a generation has

been a real challenge for us, but we retained our focus, showed incredible

flexibility and determination and the groundwork is done."

He concluded: "I thank every employee for their hard work, in getting to where

we are today. Their efforts will help to bring success in 2023 to all our

stakeholders - including the local communities in which we operate, the

Ethiopian government, partners and shareholders, who have all supported us along

our journey."

For more information, contact:

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn: www.linkedin.com/company/akobominerals

Web; www.akobominerals.com

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold exploration and boutique mining

company, currently holding an exploration license covering 182 km2 and with an

ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The

company has established itself as the leading gold exploration company in

Ethiopia through more than 12 years of on-the-ground activity.

Akobo Minerals holds a 16 km2 mining license and is working to start up mining

of its very promising Segele target. It has an Inferred and Indicated Mineral

Resource of 68.000 ounces yielding a world-class gold grade of 22.7 g/ton,

combined with an estimated all-in sustaining cost (AISC) of 243 USD per ounce.

Still open to depth, the gold mineralised zone continues to expand and will have

a positive impact on future resource estimates and mine life. The exploration

license holds numerous promising exploration resource-building prospects in both

the vicinity of Segele and in the wider license area.

Akobo Minerals has an excellent relationship with local communities all the way

up to national authorities and we place environment and social governance (ESG)

at the heart of our activities - as demonstrated by a planned industry-leading

extending shared value program.

Akobo Minerals has built a strong local foothold based upon the principles of

sound ethics, transparency, and communication, and is ready to take on new

opportunities and ventures as they arise. The company is uniquely positioned to

become a major player in the future development of the very promising Ethiopian

mining industry.

Akobo Minerals has a clear strategy aimed at building a portfolio of gold

resources through high-impact exploration and mining, whilst adhering to a lean

business operation. The company is headquartered in Oslo and is listed on the

Euronext Growth Oslo Exchange and Frankfurt DAX under the ticker symbol, AKOBO.