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29 APRIL 2021 ABOUT ADRIATIC METALS ( ASX : ADT , LSE : ADT1 ) HIGHLIGHTS Adriatic Metals QUARTERLY ACTIVITIES REPORT For the 3 months ended 31 March 2021 Adriatic Metals Plc is focused on the development of the 100 % -owned , Vares high - grade silver project in Bosnia & Herzegovina , and exploration at the Raska base & precious metals project in Serbia . DIRECTORS Mr Michael Rawlinson NON - EXECUTIVE CHAIRMAN Mr Paul Cronin MANAGING DIRECTOR & CEO Mr Peter Bilbe NON - EXECUTIVE DIRECTOR Mr Julian Barnes NON - EXECUTIVE DIRECTOR Ms Sandra Bates NON - EXECUTIVE DIRECTOR Ms Sanela Karic NON - EXECUTIVE DIRECTOR adriaticmetals.com • • • • • Veovaca Exploitation Permit Received Rupice Environmental Permit Issued a with positive Record of Decision ( " RoD " ) Assay results from ongoing exploration work at the Raska Project , in Serbia Acquisition completed of the remaining 90 % of Ras Metals d.o.o. that the Company did not previously own for a consideration of cash and shares . The Ras Metals assets include the exploration licences for both Kizevak and Sastavci prospects that make up the Raska Project . Post quarter - end the Company provided a Vares Project Operations and Corporate Update ; Optimised underground mine plan for Rupice , which targets the central higher - grade zones sooner . This has resulted in a 26 % increase in silver - equivalent contained metal mined during the first 24 months . Demolition of the Old Processing Plant Site is nearing completion . A geotechnical drilling program to test the structural integrity of the original concrete pad has been completed . Urban Planning Permit and Exploitation Permit for Rupice are on course to be received later this quarter . Exploration permit for the 32km² of new concession area , granted in Q3 2020 , is expected within a month . Exploration drilling has now re - commenced at Rupice Paul Cronin , Adriatic's Managing Director and CEO commented : " During the first quarter of 2021 , two important permits for the Vares Silver Project were delivered , which is a significant step forward in the development of the Project . This gives me great confidence in the timely delivery of the Main Mining Project permit this summer . The Company is well positioned for what will be a transformational year for the for the Vares Silver Project , with the completion of the Definitive Feasibility Study and associated Project Financing . Adriatic Metals PLC , Regent House , 65 Rodney Road , Cheltenham GL50 1HX United Kingdom