Akobo Minerals

Regulatory Filings • Apr 15, 2025

Akobo Minerals Reports March 2025 Operational Update

Akobo Minerals Reports March 2025 Operational Update

Oslo, Norway, 15 April 2025, Akobo Minerals AB (publ) ("Akobo" or the "Company")

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

provides an operational update for March 2025.

· Mining operations progressed well in March, starting with lower-grade ore

and reaching higher-grade material toward month-end.

· Smelting has been temporarily delayed due to a critical part failure with

the electrowinning unit. Ore continues to be mined and stockpiled, and

replacement panels are being shipped and will be installed shortly.

· The high-grade ore body at the 575 level, previously referred to as Stope

01, was reached in the final days of March, with an estimated average grade of

75 grams per tonne.

· Work is ongoing to improve camp and site water logistics by connecting wells

via pipeline to the water systems at both locations.

· Gold is trading at all-time highs, providing a favourable market backdrop

and supporting strong future cash flow.

· While global markets face uncertainty due to tariffs and trade tensions, the

gold price remains resilient.

[Et bilde som inneholder skjermbilde, utendørs, natur, fjell

KI-generert innhold kan være feil.]

Stockpiling of ore as we await the next smelting, and visible gold mined from

prospect drive towards eastern winze.

Financial advisory engagement

Akobo Minerals has engaged SpareBank 1 Markets to assist in identifying and

securing appropriate financial solutions. The evaluation of available

alternatives is ongoing, with the objective of selecting a structure that best

supports the Company's operational development and long-term objectives.

Operational progress

During March, a multidisciplinary team from Sutton Global, including shaft

sinking experts, engineers, and processing specialists, spent several days on

site. Key areas of focus included:

· Identifying the optimal location for the planned vertical shaft. The site

offers easy access, and the experts expressed confidence in the geological and

logistical conditions.

· Continuing the design and costing phase in preparation for initial works on

site

· Assessing plant optimisation opportunities and delivering targeted training

to the processing team.

· Supporting early-stage planning for the construction of a new Tailings

Storage Facility (TSF), in line with long-term environmental and operational

requirements.

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 15 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/.