Oslo, Norway, 08 September 2026 - Akobo Minerals AB (publ) ("Akobo" or the
"Company") (Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer
operating the Segele underground gold mine in Ethiopia, one of the world's
highest-grade underground gold mines, provides an operational update.
August delivered approximately 16 kg of doré gold at an average grade of 26 g/t,
making it the Company's second-best production month to date. Cumulative gold
production has now reached approximately 158 kg since start-up. The grade
achieved is exceptionally high by international underground mining standards and
underlines the high-grade nature of the Segele deposit. The combination of high
grades and solid operational performance supported strong gold production from
the Segele mine.
As previously communicated, the processing plant continues to operate in batch
campaigns rather than continuously. As a result, monthly processed tonnage and
stockpile levels may vary depending on the timing of each processing campaign.
Key highlights
·
Doré gold production: approximately 16 kg @ 26 g/t
·
Doré gold production to date: approximately 158 kg @ 24 g/t
·
Stockpile available for processing: approximately 700 tonnes
·
Remaining vertical shaft development: approximately 54 metres
Development of the vertical shaft continued during the month. Progress was
slower than planned as work focused on carefully advancing through challenging
softer rock conditions.
An important next step is the start-up of the first lateral into the orebody.
This is expected to commence from the eastern winze and subsequently from the
vertical shaft, allowing development to progress from both directions and
reducing overall development time. Once the first lateral is completed, the
Company will commence hoisting gold-bearing ore from the shaft.
At the same time, substantial progress was made across a range of parallel
activities that are equally important for the successful commissioning of the
shaft. These included mine planning, geological model updates and surface works
around the shaft area, including levelling and infrastructure preparation to
support future shaft operations and logistics.
Site work is also progressing on key infrastructure supporting future
operations, including a new treatment water storage dam and the new tailings
storage facility.
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For more information, contact
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Mail: jorgen@akobominerals.com
LinkedIn:
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Web:
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About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold producer and explorer with more than
15 years of active operations in Ethiopia. The Company holds an exploration
licence covering 182 km² and a mining licence covering 16 km² in the Gambela
region, Dima Woreda.
The Segele mine hosts an Indicated and Inferred Mineral Resource of
approximately 69,000 ounces at an average grade of 22.7 g/t gold. The
mineralised system remains open at depth, supporting further resource growth and
potential mine life extension. In addition, the Company's exploration licence
hosts multiple high-quality targets with significant resource potential.
Akobo Minerals places ESG principles at the core of its operations and maintains
strong relationships with local communities and government authorities. The
Company is committed to sound ethics, transparency and responsible mining
practices.
Akobo Minerals is headquartered in Oslo and listed on Euronext Growth Oslo and
the Frankfurt Stock Exchange under the ticker AKOBO. In the United States, the
Company's shares trade on the OTC Pink Market under the symbol AKOBF.
The Company complies with the JORC Code (2012) and places strong emphasis on
internationally recognised industry standards.
\
The Company complies with the JORC Code (2012) and places strong emphasis on\
internationally recognised industry standards.\