Akobo Minerals

Share Issue/Capital Change • Mar 4, 2022

Akobo Minerals renews license securing a long term gold exploration and mining operation.

Akobo Minerals renews license securing a long term gold exploration and mining operation.

Akobo Minerals (Euronext Oslo - "AKOBO") today announced that it has renewed its

existing exploration license of 182 km2 in the Akobo region. This will secure a

strong long-term position for both mining and exploration activities for the

company.

The renewal came through many years of positive relationships with the Ministry

of Mines, and is a result of Akobo's continued efforts to develop and progress

its in-country activities.

The renewal gives the company:

· A three-year exploration period, plus yearly renewals of up to 10 years in

total

· A solidified future presence in the Akobo project and removes any concerns

regarding the license's length

· The ability to think long-term around how to maximize exploration activities

· The freedom to drill and mine the best targets across the entire 182 km2

license area

Jørgen Evjen, CEO of Akobo Minerals, stated: "The renewal of this license

establishes a very strong long-term position for the company for both mining and

exploration activities in the Akobo region. It ensures that we can secure

additional highly prospective targets that we will be able to feed into our

Segele processing plant for years to come."

He added: "Securing the license for an extended period is a much-appreciated

sign of good faith in Akobo by Ethiopia's Ministry of Mines and we thank them

warmly for their ongoing support."

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About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold exploration and mining company,

currently with ongoing exploration and boutique mine development in the Gambela

region and Dima Woreda, southwest 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 is transforming itself to support an increased pace of core

drilling. At both its key targets - in Segele and Joru - the company has

released exceptionally high-grade gold results in the Segele deposit, while core

drilling and trenching at Joru have intersected both high-grade gold zones and

large wide zones near the surface. The company has an excellent partnership with

national authorities and places ESG at the heart of its activities - including a

ground-breaking community program.

The company has built a strong local foothold based upon the principles of good

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

opportunities and ventures as they arise. Akobo Minerals 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, while adhering to a lean

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

Euronext Growth Oslo Exchange under the ticker symbol, AKOBO.

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

Twitter: @akobominerals

Web: https://akobominerals.com

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Important information

This release is not for publication or distribution, directly or indirectly, in

or into Australia, Canada, Japan, the United States or any other jurisdictions

where it would be illegal. It is issued for information purposes only and does

not constitute or form part of any offer or solicitation to purchase or

subscribe for securities, in the United States or in any other jurisdiction. The

securities referred to herein have not been, and will not be, registered under

the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may

not be offered or sold in the United States absent registration or pursuant to

an exemption from registration under the U.S. Securities Act. Akobo Minerals

does not intend to register any portion of the offering of the securities in the

United States or to conduct a public offering of the securities in the United

States. Copies of this publication are not being, and may not be, distributed or

sent into Australia, Canada, Japan or the United States.