Akobo Minerals - Operational Update for October 2025

06 Nov 2025 08:51 CET

Oslo, Norway, 6 November 2025 - Akobo Minerals AB (publ) ("Akobo" or the
"Company") (Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer
operating in Ethiopia, provides the following operational update for October
2025.

· Doré gold production for October is approximately 7.0 kilograms, exceeding
the monthly target of 5 kilograms
· Cumulative doré production to date is approximately 58 kilograms
· Steady operational performance continues at the Segele mine, with production
well balanced against ongoing work on the vertical shaft
· Gold price still at record high levels
· Mobilization and site preparation for the vertical shaft have commenced
· Headgear fabrication is on schedule, with load testing planned for early
November and packing and shipment to site expected by the end of the month
· Of the total 60 meters planned in phase 1 of the shaft development, 15
meters have been completed, with an additional 15-20 meters expected before
reaching hard rock - keeping the project on schedule
· Ongoing camp upgrades are underway to improve the quality of life for site
personnel. Works include the construction of multiple ablution blocks, upgrades
to the catering kitchen, and installation of a potable water treatment plant to
reduce plastic use on site

[image]

Expert shaft sinking team working on the top part of the vertical shaft and with
water diversion

For more information, contact

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn:
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Web:
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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, 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/.

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