Akobo Minerals

Environmental & Social Information • Dec 3, 2021

Akobo Minerals shortlisted for prestigious ESG award for Ethiopian gold exploration project

Akobo Minerals shortlisted for prestigious ESG award for Ethiopian gold exploration project

OSLO, 3 December 2021: Akobo Minerals (Euronext Oslo - "AKOBO") is delighted to

announce it was shortlisted as ESG (Environmental, Social, and Governance)

Explorer/Developer Mining Company of the Year at this week's Mines & Money

London, the premier European forum for mining investment and capital raising.

Organisations were considered based on how well they have developed a long-term

sustainable ESG strategy, and the nominated companies were recognised as having

successfully integrated ESG into this strategy in a meaningful manner. The

shortlist of those companies was decided by a panel of both ESG and mining

industry experts.

Commenting on being nominated for the award, Jørgen Evjen, CEO at Akobo

Minerals, stated: "We are proud to have been one of only six highly regarded

companies from around the world shortlisted for our ESG activities by Mines &

Money London. Akobo Minerals, in its present guise, has only been operating for

little over one year and despite not winning the award, to even be shortlisted

for such a prestigious honour speaks volumes about the great strides we have

taken in this time - in general as an exploration and mining operation; and

specifically, in developing our ESG activities."

He concluded: "After a period of rapid growth, this shortlisting shows that we

are considered to be within an important peer group of respected and forward

thinking exploration enterprises.  Every employee can be proud of the part they

have played in helping to build our world class ESG program -one that is already

benefiting the local population on the ground in Ethiopia where we are

successfully building our exploration and mining activities. ESG will always to

be at the heart of our corporate philosophy."

- ENDS -

Background on Akobo Minerals' ESG program

Akobo Minerals is building the capacity of its corporate and operations team to

place ESG issues at the heart of the development of its Gold Project.

The Akobo Minerals mining licence includes a number of ESG obligations that it

has negotiated, including a designated proportion of royalties coming to the

Gambella region and a commitment to support sustainable development initiatives

in the project woreda(district).

Akobo Minerals, as an ethical exploration company is seeking to turn the complex

ESG challenge into an opportunity. At the beginning of 2021, Akobo Minerals

embarked on a partnership with Sazani Associates (Sazani), a UK-based not-for

-profit organisation specialising in natural resource governance to undertake a

rapid appraisal of natural resources use in the project area, and a local

community analysis of needs, and is presently preparing a sustainable natural

resource management plan (SNRMP). This will be in addition to environmental and

social management plans resulting from an environmental and social impact

assessment (ESIA), the company is undertaking.

The SNRMP is being designed as a parallel self-sustaining initiative to the

development of

its gold mining project and will incorporate the following:

· Capacity building in environmental and social safeguarding and technical

capacities of artisanal and small-scale gold mining (ASGM) activity as well as

improved regulation;

· Alternative sustainable livelihood opportunities that support food security

and technical vocations; and

· A payment for ecosystem services scheme, to generate income, from carbon

credits, for our host communities, through rehabilitation and conservation of

degraded areas.

These initiatives are in addition to a program of local community initiatives,

including purchasing equipment for local schools, football clothing for local

junior soccer teams and healthcare support in local health centres.  Akobo

Minerals has also helped to ensure the only local road is of sound quality by

making general repairs to its surface. And during 2021, it made a significant

upgrade to a landing strip near to its camp, so light aircraft are now able to

land and take-off - a boon to support community emergency situations.

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

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.