Akobo Minerals

Delisting Announcement • Aug 21, 2023

Akobo Minerals begins application process to trade on the US based OTC Markets Platform

Akobo Minerals begins application process to trade on the US based OTC Markets Platform

OSLO, 21 August 2023:Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO),

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

today announced that it has decided to apply for trading on the OTC Markets

platform in the United States.

While Akobo Minerals already has a full listing on two markets in Europe, there

are several benefits of having an additional US-based quotation for its shares.

The main benefit is having a freely tradeable security with a US ticker symbol

and a USD share quote that will enable the Akobo share to become available to

all US investors through their broker of choice. Over 12,000 US and global

securities are already trading on the OTC Markets platform, including mining

companies like Lundin Mining and Endeavour Mining (in addition to some of the

largest and most well-known brands such as Adidas, Heineken, Roche, BNP Paribas

and Hugo Boss).

A second benefit, as Akobo Minerals is already listed on the Euronext exchange

in Oslo and qualifies to trade on the OTC QX Best Market, is that the listing

process of securing an OTC cross-trade in the US is simplified without having to

do any additional US regulatory or legal work.

Jørgen Evjen, CEO of Akobo Minerals, said: "As the company moves towards gold

production from our boutique mine in Ethiopia, we want to ensure that new

investors have greater access to trading of our shares. An OTC cross-trade in

the US, to supplement our European listing on the Oslo and Frankfurt exchanges,

will achieve this."

Evjen added: "We have seen that there is high interest from investors in mining

shares in the US, and I am sure that Akobo Minerals can capitalise on this as we

expand our operations in Ethiopia.

- Ends -

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 13 years of on-the-ground activity.

Akobo Minerals holds a 16 km 2 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 USD 243 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 Stock Exchange under the ticker

symbol, AKOBO.

Akobo Minerals fully meets and complies with all parts of the JORC code, 2012.

For further information, see https://www.jorc.org/

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