Reference is made to the announcement by Akobo Minerals AB (publ.) (“Akobo” or the “Company”) on 6 July 2021 regarding the resolution to increase the Company’s share capital.

The share capital increase has today been registered with the Swedish Register of Business Enterprises. The share capital of Akobo is SEK 1,529,302.226797, comprising 41,154,606 shares, each with a nominal value of SEK 0.03716.

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. Our team of geologists have worked extensively over the last 11 years to identify several potential primary gold targets. The ongoing drilling program initiated at the end of 2019 has so far shown exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t.