Akobo Minerals

Business and Financial Review • Mar 14, 2025

Akobo Minerals reports February 2025 operational update

Akobo Minerals reports February 2025 operational update

Oslo, Norway, 14.03.25, Akobo Minerals AB (publ) ("Akobo" or the "Company")

(Euronext Growth Oslo: AKOBO), a Scandinavian-based Ethiopian gold producer,

provides an operational update for February 2025.

Gold production

· Gold production for February amounted to 1.3 kg, bringing the total gold

production to date to 18.6 kg.

· February production was low due to lower grade ore mined. As previously

stated, variation in production is expected due to the nature of the deposit.

The geological model remains sound, but the variability of the ore body impacts

extraction rates and processing efficiency.

Operational performance

· The operational mining performance remained solid throughout the month, and

work continues on opening three stopes from the winzes at different locations

within the deposit, which will provide access to higher-grade material.

Collaboration with Sutton Global

· Cooperation with Sutton Global is strengthening, with additional resources

added to the project. Project and Site Manager Kobus Byleveldt, a mining

engineer with more than 40 years of mining experience, has joined the team. He

is responsible for overseeing activities at the site and planning and executing

the sink shaft project.

Sink shaft project

· The sink shaft project is progressing, with a team from Sutton Global

working on details for the mine plan, headgear design, costing, and the startup

of work at the site.

Akobo Minerals remains focused on optimizing production and improving

efficiencies as the mine continues to ramp up.

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 producer, currently holding an

exploration license covering 182 km2 and a mining license covering 16 km2 in the

Gambela region and Dima Woreda, Ethiopia. With over 14 years of active

operations on the ground, the company has established a strong foothold in

Ethiopian mining industry.

Akobo Minerals' Segele mine has an Inferred and Indicated Mineral Resource of

68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized

zone remains open at depth, supporting future resource estimates and extending

the mine's 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 maintains strong relationships with local communities and

government authorities, placing ESG principles at the core of its operations.

The company's commitment to sound ethics, transparency, and stakeholder

engagement is evident through its industry-leading extended shared value

program.

Akobo Minerals 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.

The company is headquartered in Oslo and is publicly listed on the Euronext

Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol

AKOBO. For US investors, Akobo Minerals

AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med

ium=Press+Release&utm_campaign=New+OTCQX+Company) (OTC: AKOBF) is traded on the

OTC Pink Market.

Akobo Minerals places great emphasis on meeting and exceeding industry

standards, fully complying with all aspects of the JORC code, 2012. For detailed

information on their adherence to this code, please refer to

https://www.jorc.org/. Akobo Minerals' unwavering commitment to ethical

practices, community engagement, and environmental responsibility positions them

as a formidable force in the evolving landscape of the Ethiopian mining sector.