Akobo Minerals resumes core drilling in Segele to follow up recent high-grade results

Akobo Minerals, a Norway-based gold exploration company with operations in
Ethiopia, has resumed drilling after 3 months of stop in activity due to the COVID-19 situation.

Our crew has again been mobilized for the resumption of drilling in Segele, and the first hole has already
been drilled. Visible gold is occurring through 3.5m in the core, continuing the good trend from the first
ten holes, that showed some good and even incredible intercepts, e.g. 339 g/t Au over 20.95m (hole
SEDD03), and 12 g/t Au over 14,7m (hole SEDD05). The results have been confirmed by the
internationally recognized analytical company ALS.

The holes were drilled 25 meters apart, testing lateral and depth extensions. The analysis of about 30
percent of the total length of cores from the first ten holes gives us confidence in the continued program.

The Segele zone was recognized with positive results in large parts of the drilled holes, and thus remains
open in all directions. The Segele zone is the focus of this campaign where we expect to drill up to 2.000
meters within the next two months. By completion, we expect to have an updated CPR (Competent
Person’s Report), with preliminary resource estimates for the Segele gold deposit.

For more information contact:
Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: jorgen@akobominerals.com

About Akobo Minerals:
Akobo Minerals, a Norway-based gold exploration company, currently with ongoing exploration in the
Akobo region in southwest Ethiopia through its wholly owned Ethiopian subsidiary Etno Mining Plc. The
operations were established in 2009 by people with long experience from the public mining sector in
Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds an exploration license over
key targets in the area. To date placer production and exploration work have outlined alluvial gold
resources, and our team of geologists have worked extensively over the last 8 years to identify several
potential primary gold targets. The drill program initiated at the end of 2019 has so far shown exceptional
high-grade gold results since drilling started in February this year.

Important information:
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan,
the United States or any other jurisdictions where it would be illegal. It is issued for information purposes
only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for
securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.