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16 JULY 2021 ABOUT ADRIATIC METALS ( ASX : ADT , LSE : ADT1 ) 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 ● Adriatic Metals PROGRESS HIGHLIGHTS IN THE QUARTER Vares Silver Project , Bosnia & Herzegovina : Urban Planning Permit for the Rupice underground deposit received . ● QUARTERLY ACTIVITIES REPORT For the 3 months ended 30 June 2021 ( " Q2 " or " Quarter " ) Demolition of the historic processing plant surface infrastructure and geotechnical drilling program to test the structural integrity of the original concrete pad completed . Rupice Exploitation Permit on course to be received during Q3 2021 . Exploration drilling has re - commenced at Rupice . Exploration permit received for the additional 32km² of concession area granted to the Company in September 2020 and initial results were received from an airborne geophysical survey across this area . Adriatic Foundation established as a charitable trust in Bosnia & Herzegovina with the objective of supporting the communities around the Vares Silver Project to create a positive long - term legacy . Raska Project , Serbia : Completed more than 6,500 meters of exploration drilling . Paul Cronin , Adriatic's Managing Director and CEO commented : " During the second quarter of 2021 , we received the Urban Planning Permit for the Rupice underground deposit , which is an important permit and significant step forward in the development of the Vares Silver Project . This marked the penultimate step in completing the permitting requirements to commence construction . In addition , we received an Exploration Licence for 32km² of additional concession areas along the 22km of strike length , which we look forward to systematically exploring . One of our key values at Adriatic Metals is to align the Company with the aspirations of our communities . The establishment of the Adriatic Foundation shows a strong commitment to ose va es by our Board , management and staff . We hope that the Foundation will draw support from our key partners in country and global suppliers to promote development across our communities . This is a transformational year for the Vares Silver Project and we look forward to the completion of the Definitive Feasibility Study within a matter of weeks . " Adriatic Metals PLC , Regent House , 65 Rodney Road , Cheltenham GL50 1HX United Kingdom