Akobo Minerals AB : Exercise of options by primary insider

Oslo,10 March 2023 | Akobo Minerals AB Yesterday, option holders exercised a total of 377,000 options with a strike price of SEK 2.5 per share granted by the general meeting held 2020-10-12. The exercised option value will be settled in cash. The following primary insider Jørgen Evjen, CEO, exercised 60,000 options. For further information, please see the attached form. This information is subject to the disclosure requirements pursuant to MAR article 19 and section 5-12 of the Norwegian Securities Trading Act. 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 Twitter: @akobominerals Web: https://akobominerals.com About Akobo Minerals Akobo Minerals is a Scandinavia-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and with an ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 12 years of on-the-ground activity. Akobo Minerals holds a 16 km2 mining license and is working to start up mining of its very promising Segele target. It has an Inferred and Indicated Mineral Resource yielding a world-class gold grade of 22.7 g/ton, combined with an estimated all -in sustaining cost (AISC) of 243 USD per ounce. Still open at depth, the gold mineralized zone continues to expand and will have a positive impact on future resource estimates and mine-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 has an excellent relationship with local communities all the way up to national authorities and it places environment, social and governance (ESG) at the heart of its activities - as demonstrated by an industry-leading community program. Akobo Minerals has built a strong local foothold based upon the principles of sound ethics, transparency, and communication, and 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. Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, while adhering to a lean business operation. The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange under the ticker symbol AKOBO. Akobo Minerals fully meets and complies with all parts of the JORC code, 2012. For further information, see https://www.jorc.org/