Akobo Minerals

Regulatory Filings • Nov 20, 2024

Akobo Minerals and Ethiopian Prime Minister Abiy Ahmed inaugurate the Segele Mine

Akobo Minerals and Ethiopian Prime Minister Abiy Ahmed inaugurate the Segele Mine

OSLO, 20 November 2024 - Akobo Minerals AB (publ) (Euronext and Frankfurt:

AKOBO) a Scandinavian-based Ethiopian gold exploration and mining company, in

collaboration with the Ethiopian government, proudly announces the official

inauguration of the Segele mine by His Excellency Prime Minister Abiy Ahmed.

Adding to the excitement of the day was the gold pour, a symbolic act overseen

by Prime Minister Abiy. The gold pour yielded an impressive 6.5 kilograms, a

shining example of the mine's high-grade ore and production capabilities.

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The inauguration ceremony brought together key dignitaries and Akobo Minerals

staff to celebrate this remarkable achievement. Prime Minister Abiy Ahmed,

accompanied by Gambella Region President Ms. Alemitu Umod and Minister of Mines

Habtamu Tegegne, toured the state-of-the-art Segele mine facility, observing its

innovative technologies and efficient operations. The Prime Minister delivered

an inspiring speech, highlighting the transformative potential of the mine for

Ethiopia's economic diversification and the empowerment of local communities.

"The Segele mine is a testament to Ethiopia's vast potential in the mining

sector and the importance of international partnerships to realize this

potential," said Prime Minister Abiy. "We are proud to see this project reach a

significant milestone, benefiting not only the national economy but also the

communities around it."

Akobo Minerals CEO Jørgen Evjen shared heartfelt words of gratitude during his

address, applauding the tireless efforts of the Akobo Minerals and Etno Mining

teams in preparing for this momentous day.

"The inauguration of the Segele mine is a defining moment for Akobo Minerals.

This project is the result of years of dedication, collaboration, and

innovation," Evjen said. "We are especially grateful to the Ethiopian

government, the Gambella region, and the local community for their unwavering

support. Together, we have built something truly extraordinary."

Gambella Region President Ms. Alemitu Umod also addressed the gathering,

emphasizing the regional benefits of the Segele mine, including job creation,

improved infrastructure, and enhanced opportunities for local communities. She

expressed her gratitude to Akobo Minerals for their commitment to the region's

growth and development.

The Segele mine, located in the Gambella region, represents a landmark in

Ethiopian gold exploration and production. With its high-grade ore body and

innovative processing methods, the mine is poised to contribute to Ethiopia's

export revenues and local employment opportunities. Akobo Minerals has invested

extensively in its exploration and mining operations and community development

initiatives, including local job creation, supporting local education, improving

healthcare, and enhancing infrastructure, to ensure the project's long-term

success and positive impact on the surrounding area.

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

www.akobominerals.com

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold exploration and mining company,

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 gold exploration, now further strengthened with the

startup of its Segele mine.

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) (OTCQX: AKOBF) is traded on

the OTCQX Best Market, adhering to high financial standards, best practice

corporate governance, and compliance with U.S. securities laws. Additionally,

the company has a professional third-party sponsor introduction, and investors

can access current financial disclosures and Real-Time Level 2 quotes for the

company on www.otcmarkets.com.

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.