Akobo Minerals

Regulatory Filings • Jan 13, 2022

Akobo Minerals intersects visible gold at 205 meters depth

Akobo Minerals intersects visible gold at 205 meters depth

OSLO, 13 January 2022: Akobo Minerals (Euronext Oslo - "AKOBO") today announced

that it has intersected visible gold at 205 meters hole depth as part of its

extension drilling program at Segele.

In addition to the visible gold previously reported, this latest result

indicates that the high-grade mineralisation continues 50m further down dip than

reported on the 4th November 2021. This discovery underpins the company's belief

that the Segele project can sustain a significantly longer mine-life than

envisaged in the Scoping Study (27th September 2021).

In addition to the visible gold observations, since the release of the Scoping

Study, the company has encountered several intersections of potential host rocks

which are demonstrably down-dip from the resource estimate. The combination of

the host rocks and visible gold is in-line with the general plunge of the

mineralisation as seen in the resource model.

The visible gold now seen in hole SEDD87 along with the previously reported

intersections with visible gold in SEDD53 and SEDD55 (released 4th November

2021) extend the known gold mineralisation over 100m to the Northwards down-dip

of the mineral resource estimate (6th April 2021).

For illustration purpose only;

[image]

The Company has further holes planned in the northern extension as it continues

to test the down-plunge extensions

Jørgen Evjen, CEO, Akobo Minerals, stated: "

"The latest intersections are very exciting and confirm that the mineralized

zone continues to expand and will have a significant impact on our resource

estimate and mine-life in the future. With the latest visible gold we are quite

certain the zone is still open at depth. The mineralized zone also displays a

pinch and swell pattern at deeper levels which is an encouraging sign, even

though we have to wait for the assay results to confirm the potential gold

content."

An updated resource estimate for Segele is expected to be released by end of Q1

in order to incorporate as much of the latest drill hole data as possible.

- ENDS -

About Akobo Minerals

Akobo Minerals is a Norway-based gold exploration company, with ongoing

exploration and small-scale mining developments in the Gambela region and Dima

district of southwest Ethiopia. Operations were established in 2009 by people

with long experience from both the public mining sector in Ethiopia and the

Norwegian oil service industry. Following mineral discoveries, the company is

engaged in mining studies to advance the project to production, alongside

exploration core drilling.

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.

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

Web: https://akobominerals.com

Competent Person for Exploration Results

The Competent Person who has overall responsibility for the exploration results

is Dr Matt Jackson BSc PhD MAusIMM. Dr Jackson is a Chartered Professional of

the Australasian Institute of Mining and Metallurgy which is a Recognized

Professional Organization ("RPO") included in a list promulgated by the

Australian Securities Exchange ("ASX") from time to time. He is a full time

employee of Akobo Minerals AB and has sufficient experience that is relevant to

the style of mineralization and type of deposit under consideration and to the

activity being undertaken to qualify as a Competent Person as defined in the

2012 Edition of the 'Australasian Code for Reporting of Exploration Results,

Mineral Resources and Ore Reserves'. Dr Matt Jackson consents to the inclusion

in the report of the matters based on his information in the form and context in

which it appears.

For complete disclosure of technical details, JORC Table 1 can be found at the

company website, www.akobominerals.com

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.