Akobo Minerals Operational Update - Strong Momentum

19 Jun 2025 10:32 CEST

Oslo, Norway, 19 June 2025

Akobo Minerals AB (publ) ("Akobo" or the "Company") (Euronext Growth Oslo:
AKOBO), a Scandinavian-based Ethiopian gold producer, provides an operational
update covering the latest mining and processing activities at the Segele mine
in Ethiopia.

Highlights

· Strong production momentum; daily blasting increased to two rounds, enabling
15-20 tons of ore per day
· Production volume expected to reach 400-500 tonnes per month going forward
· Successful new chemical-free gravity processing setup commissioned; expected
improved purity and recovery, in addition to deferral of new tailings storage
facility (TSF)
· Two ore headings in operation from mid-May, accessing high-grade ore zones
· Estimated ~10 kg of gold production for May and June, sufficient to cover
operating costs
· Smelting to be undertaken with Sutton Global experts at site end of June

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Mining

Since mid-May, operations have shifted from development mining to production
mining. Two separate working areas are extracting high-grade ore in line with
the block model. High-grade gold has also been encountered and is being mined in
structures outside the current resource model.

Processing

We have reconfigured our processing plant, together with Sutton Global, to run
on pure gravity separation, completely chemical-free. This green recovery
process significantly reduces our environmental footprint and lowers production
costs. It also allows us to postpone the construction of a new tailings storage
facility (TSF), in addition to improving recovery and purity.

The new gravity circuit setup was successfully commissioned in May. It is
designed to accommodate the future vertical shaft and provides sufficient
capacity to defer construction of a new TSF, reducing near-term capital
expenditure until sufficient cash flow from the new shaft is able to fund it.
This is expected to be happen in early 2026.

The plant now combines a cyclone unit and a Falcon concentrator with a shaking
table, together forming a solid and well-proven gravity-based technology widely
used in the industry.

Smelting

Smelting is temporarily on hold to optimise recovery and to ensure that the new
gravity setup is working as expected. The next smelting will be conducted with
metallurgical experts from Sutton Global, who are expected on site in the last
week of June. Current gravity concentrate supports a total production estimate
of ~10 kg for May-June.

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/___htt
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Web:
www.akobominerals.com (https://protect.checkpoint.com/v2/___http://www.akobomine
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als.com/___.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZmMDIwYTc1M2VhODk0MjA0YzI4NGU2MTo2
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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, Akobo Minerals
AB (https://protect.checkpoint.com/v2/___https://www.otcmarkets.com/stock/AKOBF/
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uote?utm_source=Press+Release&utm_medium=Press+Release&utm_campaign=New+OTCQX+Co
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pany___.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZmMDIwYTc1M2VhODk0MjA0YzI4NGU2MTo2Ojli
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TA6MTZjMmNiOWJlYTU0NWNiMTVlZDY2NzhiOWNkYThiNDUyM2ZlNWRhYjdkYWRiZjIyYWMyODgxM2NlN
j
NkNmNiNjpwOlQ6Tg) (OTC: AKOBF) is traded on the OTC Pink Market.

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/.

More information:
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