Akobo Minerals

Board/Management Information • Jun 27, 2023

Akobo Minerals appoints Helge Rushfeldt as head of mining operations and new member of the executive management group

Akobo Minerals appoints Helge Rushfeldt as head of mining operations and new member of the executive management group

OSLO, 27 June 2023:Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the

Scandinavian-based Ethiopian gold exploration and boutique mining company, today

announced that Helge Rushfeldt will join Akobo Minerals' executive management

group from 1st of July as head of mining operations.

With more than 20-year experience from the Norwegian mining industry, Rushfeldt

brings a wealth of knowledge and expertise to the Akobo team as it transitions

from development to production. Rushfeldt has been a consultant to the Norwegian

mining and minerals industry for the last 10 years. He has also worked at many

of Norway's major mines and mineral processing facilities including Titania AS,

Norwegian Talc AS and Hustadmarmor AS. His scope of activity has ranged from

production management to exploration projects via financing towards production.

Rushfeldt was vice president, then president, of the Norwegian Mining

Association between 2012 and- 2015. He is the co-author of a Norwegian book on

health, safety and environment in the mining industry, published in 2020. He

holds a Master of Science in Mineral Processing from the Norwegian University of

Science and Technology (NTNU) in Trondheim, Norway.

Rushfeldt has been a board member at Akobo Minerals since late 2021. He recently

spent two weeks on-site in Ethiopia learning more about the project and building

relationships with the operations team. Now that Rushfeldt is a member of the

management team, he will step down as member of the board once a qualified

replacement is found.

Commenting on his appointment, Helge Rushfeldt said: "As a board member at Akobo

Minerals for the past 20 months I have developed a good understanding of the

strategic direction of the company, and I am now looking forward to bringing my

experience to bear on supporting the business at an operational level. With full

gold production in view, it is an exciting time for everybody connected with the

company and I am looking forward to playing my part in its success."

Jørgen Evjen, CEO of Akobo Minerals, said: "At Akobo Minerals we are committed

to delivering mining operations of the highest international standards, and I

believe that Helge will help us achieve that goal. I look forward to working

with him and the entire management group to continue driving innovation and

excellence at Akobo and in the wider Ethiopian mining industry."

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 exploration and boutique mining

company, currently holding an exploration license covering 182 km2 and with an

ongoing mine development in the Gambela region and Dima Woreda, 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 holds a 16 km2 mining license and is working to start up mining

of its very promising Segele target. It has an Inferred and Indicated Mineral

Resource of 68.000 ounces yielding a world-class gold grade of 22.7 g/ton,

combined with an estimated all-in sustaining cost (AISC) of 243 USD per ounce.

Still open to depth, the gold mineralised zone continues to expand and will have

a positive impact on future resource estimates and mine 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 has an excellent relationship with local communities all the way

up to national authorities and we place environment and social governance (ESG)

at the heart of our activities - as demonstrated by a planned industry-leading

extending shared value program.

Akobo Minerals has built a strong local foothold based upon the principles of

sound ethics, transparency, and communication, and 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.

Akobo Minerals has a clear strategy aimed at building a portfolio of gold

resources through high-impact exploration and mining, whilst adhering to a lean

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

Euronext Growth Oslo Exchange and Frankfurt DAX under the ticker symbol, AKOBO.