Akobo Minerals reports nearly 3 kg of gold produced in October

28 Oct 2024 08:30 CET

OSLO, 28 October 2024: Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO),
a Scandinavian-based Ethiopian gold exploration and mining company, is pleased
to announce a total production of 2,833 grams of gold in October. This
achievement marks a significant milestone in ramp-up and commissioning
activities, underscoring our operational capabilities.

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Second gold bar produced from the Segele mine

This month's production includes our second gold bar, weighing approximately 1.5
kg with an estimated grade of 15 g/t, highlighting the potential of our Segele
operations as we transition to regular production.

As we move into November, we anticipate increased throughput, drawing us closer
to covering operational costs. Our Head of Mining Operations, Helge Rushfeldt,
has been on-site to guide efforts, reporting a highly focused and efficient
team. With a robust optimization strategy in place, our team is committed to
maximizing both tonnage and production.

Additionally, we have significantly strengthened our team by bringing
specialists in mining operations and supply chain and support services on board.
We believe that this will translate into higher efficiencies supporting our
production goals. In this matter we are supported by Sutton Global, an
internationally recognised mining and processing services provider. With a clear
path forward, we are confident in continued growth and look forward to providing
further updates.

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 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_me
d
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.

More information:
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