Akobo Minerals AB (publ) - New share capital registered

05 Apr 2023 18:51 CEST

Reference is made to the stock exchange announcement on 10 March 2023 by Akobo
Minerals AB (publ) ("Akobo" or the "Company") regarding the exercise of 377,000
options with a strike price of SEK 2.5 per share as granted by the general
meeting held on 2020-10-12.

Following the issuance of 377,000 new shares in the Company the new share
capital in the Company is SEK 1,593,774.826797 divided into 42,889,606 shares,
each with a nominal value of SEK 0.03716. The shares are validly and legally
issued and fully paid-up. The new share capital was registered with the Swedish
Companies Registration Office (Sw:"Bolagsverket") on 13 March 2023.

For further information, please contact:

Jørgen Evjen, CEO Akobo Minerals

Mob: +47 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn: www.linkedin.com/company/akobominerals

Twitter: @akobominerals

Web: https://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 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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