Adriatic Metals PLC 

("Adriatic Metals" or the "Company")

ALLOTMENT OF SHARES

Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) advises that it has completed the allotment of 207,500 ordinary shares of £0.013355 each ("Shares") in connection with the exercise of 207,500 unlisted warrants at an issue price of £0.88 per share for a total consideration of £182,600.00. The Shares rank pari passu with the existing Ordinary shares.

Application will be made to the Financial Conduct Authority and the London Stock Exchange for the Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission"). Admission of the Shares is expected to take place on or around 24th September 2021.

The Company confirms that as at the date of this announcement, the Company's issued share capital comprises 214,244,843 ordinary shares of £0.013355 each, with each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.

The above figure of 214,244,843 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

A cleansing notice and Appendix 3G (Notification of issue, conversion or payment up of equity securities) in relation to the allotment of the Shares has also been filed with the Australian Securities Exchange (ASX) and is available on the Company's website: https://www.adriaticmetals.com/investors/asx-announcements/ 

Authorised by, and for further information please contact:

Paul Cronin
Managing Director & CEO
[email protected]

** ENDS **

Market Abuse Regulation Disclosure

The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person ‎responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.

For further information please visit www.adriaticmetals.com; @AdriaticMetals on Twitter; or contact:

ABOUT ADRIATIC METALS

Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.

The Vares Project 2021 Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% post-tax IRR and a capex of US$168 million. Adriatic is the only publicly listed mining company exploring in Bosnia and Herzegovina and is leveraging its first-mover advantage. The Company is well-funded and concurrent with advancing the construction of the Vares Silver Project, continues to explore across its large, highly prospective 41km2 concession package.

Adriatic Metals completed the acquisition TSX-listed Tethyan Resource Corp.  in Q4 2020, which contained the Raska Zinc-Silver Project in southern Serbia. The Company is exploring across its 99km2 highly prospective concession area, which includes around the formerly operating Kizevak and Sastavci polymetallic mines.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.