Akobo Minerals - Operational Update for April 2026

06 May 2026 08:50 CEST

Oslo, Norway, 6 May 2026 - Akobo Minerals AB (publ) ("Akobo" or the "Company")
(Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer operating in
Ethiopia, provides an operational update for April 2026.

Operational activities were temporarily reduced during April in response to fuel
supply disruptions. During this period, the Company processed available
stockpiled material, delivering a production outcome above expectations.
Approximately 600 tonnes of stockpiled material were processed, resulting in
gold production of approximately 27 kilograms of doré at an average grade of 45
g/t. This brings Akobo's cumulative gold production to approximately 124
kilograms, surpassing 100 kilograms for the first time in the Company's history
and representing an operational milestone. Including production from February
and March, the Company has approximately 42 kilograms of doré gold currently
held and available for sale, representing a gross metal value of approximately
USD 5 million at current gold prices.

Key highlights

·
Gold production in April from stockpile processing: approx. 27 kg at 45 g/t

·
      Cumulative doré production to date: approx. 124 kg

·
      Stockpile of lower-grade material available for processing: approx. 300
tonnes

Fuel situation and outlook

The broader fuel supply situation has affected parts of the global market.
According to Ethiopian government officials, fuel supply conditions are
improving towards normal levels, although some time may be required before full
market balance is restored.

Akobo has secured a diesel delivery to site and expects an additional delivery
during May. Based on current inventory and the upcoming delivery, the Company
expects to have sufficient diesel availability to resume operations.

Mining restart and vertical shaft development update

Preparatory work to resume operations is underway. Subject to a stable supply of
fuel, the Company expects mining operations to restart toward the end of May
2026.

All remaining foundation works for the vertical shaft have been completed.
Blasting is expected to resume during May. Shaft sinking is anticipated to
progress at an increased rate as the collar area down to hard rock has now been
fully established and secured with concrete and reinforcement.

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:
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 and explorer with over 15
years of active operations in Ethiopia. The Company holds an exploration licence
covering 182 km² and a mining licence covering 16 km² in the Gambela region and
Dima Woreda.

The Segele mine hosts an Indicated and Inferred Mineral Resource of
approximately 69,000 ounces at a high average grade of 22.7 g/t gold. The
mineralised system remains open at depth, supporting further resource growth and
mine life extension. In addition, the Company's exploration licence hosts
multiple high-quality targets with significant resource-building potential.

Akobo Minerals places ESG principles at the core of its operations, maintaining
strong relationships with local communities and government authorities. The
Company is committed to sound ethics, transparency and responsible mining
practices.

Akobo Minerals is headquartered in Oslo and is listed on Euronext Growth Oslo
and the Frankfurt Stock Exchange under the ticker AKOBO. In the United States,
the Company's shares trade on the OTC Pink Market under the symbol AKOBF.

The Company fully complies with the JORC Code (2012) and places strong emphasis
on meeting recognised industry standards.

More information:
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