Akobo Minerals – Solid First Smelt From June and May Production

Oslo, Norway, 1 July 2025

Akobo Minerals AB (publ) (“Akobo” or the “Company”) (Euronext Growth Oslo: AKOBO), a Scandinavian-based Ethiopian gold producer, is pleased to provide an operational update following the latest smelting activity at the Segele mine.

Highlights

•First successful smelt completed with the new gravity setup, covering part of the production from the second half of May and throughout June:

• 7.1 kilograms of doré produced
• Average grade of 30 g/t (not accounting for material sent to tailings for later processing)
• Purity level of 83%, representing a solid improvement from latest processing

•A good portion of coarse gold and stockpiled material from June production remains to be smelted.

•The upgraded gravity recovery system is now fully operational, with improvements by Sutton Global contributing to enhanced recovery and purity.

From fine panning and magnetic separation to acid washing and shiny doré bars.

Mining and processing activities at Segele continue according to plan, with ongoing operations in high-grade zones. The team is currently blending ore from different areas to maintain a stable feed into the processing plant. These measures are supporting consistent production and continued optimisation of operations.

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, Akobo Minerals AB (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/.

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