Akobo’s April 2026 operational update highlights resilience amid fuel disruptions

Akobo Minerals AB (publ), the Scandinavian-based gold producer operating in Ethiopia, provides an operational update for April 2026.

Operational activities were temporarily reduced during April in response to fuel supply disruptions. During this period, the Company processed available stockpiled material, delivering a production outcome above expectations.

Approximately 600 tonnes of stockpiled material were processed, resulting in gold production of approximately 27 kilograms of doré at an average grade of 45 g/t. This brings Akobo’s cumulative gold production to approximately 124 kilograms, surpassing 100 kilograms for the first time in the Company’s history and representing an operational milestone. Including production from February and March, the Company has approximately 42 kilograms of doré gold currently held and available for sale, representing a gross metal value of approximately USD 5 million at current gold prices.

Key highlights

•  Gold production in April from stockpile processing: approx. 27 kg at 45 g/t
•  Cumulative doré production to date: approx. 124 kg
•  Stockpile of lower-grade material available for processing: approx. 300 tonnes

Fuel situation and outlook

The broader fuel supply situation has affected parts of the global market. According to Ethiopian government officials, fuel supply conditions are improving towards normal levels, although some time may be required before full market balance is restored.

Akobo has secured a diesel delivery to site and expects an additional delivery during May. Based on current inventory and the upcoming delivery, the Company expects to have sufficient diesel availability to resume operations.

Mining restart and vertical shaft development update

Preparatory work to resume operations is underway. Subject to a stable supply of fuel, the Company expects mining operations to restart toward the end of May 2026.

All remaining foundation works for the vertical shaft have been completed. Blasting is expected to resume during May. Shaft sinking is anticipated to progress at an increased rate as the collar area down to hard rock has now been fully established and secured with concrete and reinforcement.