Akobo Minerals – Operational Update for July 2025

Oslo, Norway, 12 August 2025 – Akobo Minerals AB (publ) (“Akobo” or the “Company”) (Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer operating in Ethiopia, provides its operational update for July 2025.

Highlights

• World-class average grade at 45 g/t, compared to typical global averages of 1–5 g/t
• Contribution from July: ~8 kilograms (approx. USD 750,000)
• Total doré gold production to date: ~38 kilograms
• Highest average purity to date, exceeding 90%
• Cash flow positive, with breakeven at approximately 5 kg/month

Operational Developments

Two new large shaking tables have arrived and are ready for installation, expected to improve recovery rates and throughput.

The first deposit payment will be made for the headgear for the new vertical shaft. The estimated total cost for establishing the shaft is USD 1.7 million.

Mining continues to focus on high-grade zones within the Segele orebody.

August is expected to deliver positive results, and as the rainy season ends, further improvements in tonnage and mining efficiency are anticipated.

Corporate Update

Ethiopian Investment Holdings (EIH), the Sovereign Investment Fund of Ethiopia, has completed a USD 3 million investment in Akobo Minerals – its first international investment. This represents a strong endorsement of the Company’s operations and growth potential.

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 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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