Akobo Minerals Reports February 2025 Operational Update

Akobo Minerals AB (publ) ("Akobo"), a Scandinavian-based Ethiopian gold producer, provides an operational update for February 2025.

Gold Production

• Gold production for February amounted to 1.3 kg, bringing the total gold production to date to 18.6 kg.
• February production was low due to lower grade ore mined. As previously stated, variation in production is expected due to the nature of the deposit. The geological model remains sound, but the variability of the ore body impacts extraction rates and processing efficiency.

Operational Performance

• The operational mining performance remained solid throughout the month, and work continues on opening three stopes from the winzes at different locations within the deposit, which will provide access to higher-grade material.

Collaboration with Sutton Global

• Cooperation with Sutton Global is strengthening, with additional resources added to the project. Project and Site Manager Kobus Byleveldt, a mining engineer with more than 40 years of mining experience, has joined the team. He is responsible for overseeing activities at the site and planning and executing the sink shaft project.

Sink Shaft Project

• The sink shaft project is progressing, with a team from Sutton Global working on details for the mine plan, headgear design, costing, and the startup of work at the site.

Akobo Minerals remains focused on optimizing production and improving efficiencies as the mine continues to ramp up.