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. Exploration drilling at Rupice Northwest continues to intercept thick, high-grade massive sulphide mineralisation up-dip, down-dip and down-plunge from previously reported intersections. The current drilling campaign at Rupice Northwest ("Rupice NW") has achieved the objective of identifying a new body of significant mineralization to the northwest of the existing Rupice Mineral Resource ("RMR"). The drilling continues from 2022 into 2023 with the aim of fully defining the mineralisation and attempting to connect the Rupice NW mineralisation to the main body of Rupice mineralisation. The drilling will continue to a stage where
an updated RMR can be released. The intercepts announced are assay results from nine exploration drill holes, all of which are targeting Rupice NW, additional to the twelve already reported from 2022. Seven holes remain to be reported on, out of a total of twenty-eight completed holes in 2022. Completion of Rupice and Rupice NW massive sulphide 3D modelling, coupled with relogging and assays from previously unsampled Rupice core has identified opportunities to expand the existing RMR up-dip, down-dip and to the southeast of the existing RMR. Extensive drill testing is planned across newly identified areas to further expand the RMR in 2023.