Oslo, Norway, 10 June 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 May 2026.

Following the fuel supply disruptions that temporarily impacted operations during April, key activities progressively resumed during May as diesel availability improved. This enabled a phased restart of mining, processing and development activities. By the end of May, operations had largely returned to normal levels, and the Company entered June on a business-as-usual basis.

The Company currently maintains sufficient fuel inventories on site, with additional deliveries in transit to support ongoing operations. While fuel availability has stabilised, regional supply constraints may still affect future deliveries, and the Company continues to monitor the situation closely.

Key highlights

• Gold production in May: 0 kg (processing of newly mined ore will commence in June)
• Cumulative doré production to date: approx. 124 kg
• Stockpile of lower-grade material available for processing: approx. 300 tonnes

Mining restart and vertical shaft development update

Mining activities resumed towards the end of May following successful dewatering of the underground workings.

Development of the vertical shaft continued in parallel. Following completion of the remaining collar works and advancement of the shaft into competent hard rock, blasting activities resumed during May. Shaft sinking is expected to accelerate as development now progresses below the collar section.

The operational disruption in April and early May resulted in a temporary loss of momentum. However, the site team managed the situation effectively, maintaining control of critical activities and minimising the overall impact on production and development. With all core activities now fully resumed, the Company entered June under normal operating conditions.

Prospect drive 4 before blasting and after continued blasting, with visible build-up of blasted material in the drive.

Shama village water project

A small inauguration ceremony was held for the Shama village water project, providing access to clean and reliable freshwater for the nearest local village and surrounding community.

The project is expected to improve access to safe drinking water, reduce reliance on bottled water, and contribute to a reduction in associated plastic waste, with positive health and broader community benefits.

For more information, contact

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14 

Mail: [email protected] 

LinkedIn: www.linkedin.com/company/akobominerals 

Web: www.akobominerals.com  

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold producer and explorer with more than 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, Dima Woreda.

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

Akobo Minerals places ESG principles at the core of its operations and maintains 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 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 complies with the JORC Code (2012) and places strong emphasis on internationally recognised industry standards.