Akobo Minerals — Earnings Release 2025

Jul 11, 2025

Akobo Minerals - Operational Update for June 2025

Akobo Minerals - Operational Update for June 2025

Oslo, Norway, 11 July 2025 - Akobo Minerals AB (publ) ("Akobo" or the "Company")

(Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer operating in

Ethiopia, is pleased to share its final operational update for June 2025.

This report is published ahead of the final smelting of all June material, as

the Company awaits delivery of a new furnace better suited to the doré

specifications required by the National Bank of Ethiopia. Overall results

exceeded our previous May/June expectations of 10 kg, taking into consideration

the remaining high-grade stockpile.

Highlights

.  Total doré gold production to date: Approximately 30 kilograms

.  Contribution from May and June:

· Doré gold bars: Approximately 10 kilograms

~9,2 kilograms from the past six weeks of production

~0.9 kilograms from the first two weeks of May

.  High-grade material stockpile: ~200 tonnes from June remains to be processed

.  Average grade: Estimated at 30 g/t

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Operational Overview

Mining operations remain focused on high-grade zones within the Segele orebody.

The block model data and laboratory results confirm consistently strong grades

in active production areas, with certain zones showing values of several hundred

grams per tonne.

Processing operations are ongoing, with approximately 200 tonnes of high-grade

material from June pending smelting. This, together with ongoing July

production, will be converted to concentrate and smelted once the new furnace is

commissioned later this month.

The process plant is undergoing several adjustments, including feed rate, water

recycling, and the Falcon concentrator setup. These remain works in progress as

part of the commissioning of the gravity circuit, with the goal of optimising

gold recoveries. Smelting techniques and furnace operations are also being

continuously refined to improve doré quality.

Site Conditions

The rainy season has brought operational challenges, including difficult working

conditions on site and in the region also with increased cases of malaria.

Despite this, the team at Segele continues to demonstrate strong commitment,

maintaining steady progress across mining and processing activities.

Outlook

With continued access to high-grade ore, stable operations at the plant, and

further technical upgrades underway, the Company anticipates strong production

performance for July and the period ahead. The new furnace installation will

further enhance smelting efficiency and ensure full compliance with National

Bank doré standards.

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 (https://protect.checkpoint.com/v2/___http

://www.linkedin.com/company/akobominerals___.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZm

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GI4ZmJmZTZjZmUzNGM0OTM4NDRlMjNkMTQ5OTQzZmRmOTpwOlQ6Tg)

Web:

www.akobominerals.com (https://protect.checkpoint.com/v2/___http://www.akobominer

als.com/___.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZmMDIwYTc1M2VhODk0MjA0YzI4NGU2MTo2O

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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, the company is traded on the OTC Pink Market (OTC:

AKOBF).

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/.