Mr. Allan Green reports

AKWAABA MINING LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Akwaaba Mining Ltd. closed its non-brokered private placement of up to $150,000 in common shares at a purchase price of 11 cents per share on Feb. 28, 2025.

The company is pleased to announce that it has closed on the offering. No new control persons were created because of the closing of the offering.

The offering was approved by the TSX Venture Exchange. No securities were issued as bonuses and no finders' fees or commissions are payable.

Certain shares of the proposed offering will be issued directly or indirectly to Allan Green, chief executive officer and director of the company, who will participate in the financing. Mr. Green's participation in the offering will constitute a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company has determined that the transaction will be exempt from formal valuation and minority shareholder approval requirements under MI 61-101, relying on exemptions found in sections 5.5(a), 5.5(b), 5.5(c), 5.7(1)(a) and 5.7(1)(b). Mr. Green is an existing control person of the company and no new control persons will be created as a result of the offering.

All the disinterested directors of the company, being all of the directors other than Mr. Green, approved the offering.

The common shares issued in connection to the offering will be subject to a statutory hold period of four months and one day, July 26, 2025, as well as any other restrictions imposed by applicable securities regulatory authorities.

As previously announced, proceeds of the offering will be used to finance the continuing exploration program at the company's Akorade project in Ghana, for working capital and for future acquisitions.

We seek Safe Harbor.