Following the recent exciting gold assay results, Akobo Minerals AB is pleased to announce that SRK Consulting (Australasia) Pty Ltd has begun their work on the maiden mineral resource estimate for the Segele gold target. SRK is a world leading specialist within exploration and mining consultancy and has experience from working on over 20,000 projects worldwide out of their 45 global offices.

The maiden mineral resource estimate is a first step towards reaching Akobo Minerals goal of defining 1,5 million to 2 million ounces gold. 

CEO of Akobo Minerals Jørgen Evjen has this to say;

“Another milestone for the company, being able to define a maiden resource just after some thousand meters of drilling. This is unusual and says a lot about the Segele deposit. Even though this will be only our first indication of grade and tonnage at Segele, the main purpose of this estimate is to get our operations and quality systems acknowledged by an industry player as SRK. This will be the first of many updates going forward as we continue exploring the Segele deposit”

Principal Consultant at SRK, Michael Lowry (Resource Evaluation Specialist) said:

“SRK are excited to be working on the maiden Mineral Resource Estimate for the Segele Gold deposit. We look forward to partnering with Akobo Minerals and to join them in their journey to uncover the full potential of the region.”

The completion of this work with SRK will be an important milestone demonstrating the company’s ability to perform JORC compliant resource definition in addition to the discovery of new deposits. Akobo Minerals has now added additional world-class resource definition capacity which will be used at Segele, Joru and other targets to reach the corporate objectives.

For more information contact:

Jørgen Evjen, CEO 

Mob.: (+47) 92 80 40 14

Mail: jorgen@akobominerals.com

Competent Person

The Competent Person who has overall responsibility for the exploration results is Dr Matt Jackson BSc PhD MAusIMM. Dr Jackson is a Chartered Professional of the Australasian Institute of Mining and Metallurgy which is a Recognized Professional Organization (“RPO”) included in a list promulgated by the Australian Securities Exchange (“ASX”) from time to time. He is a full time employee of Akobo Minerals AB and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Matt Jackson consents to the inclusion in the report of the matters based on his (or her) information in the form and context in which it appears.

For complete disclosure of technical details, JORC Table 1 can be found at the company website, www.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 11 years to identify several potential primary gold targets. The drilling program initiated at the end of 2019 and continued through 2020 has so far shown exceptionally high-grade gold results. 

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.