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.

[image]

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.

[image]

For more information, contact

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: [email protected]

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 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.
 AKOBF.\
\
The Company complies with the JORC Code (2012) and places strong emphasis on\
internationally recognised industry standards.\