Adriatic Metals : Change of Director's Interest Notice Paul Cronin

17 November 2021

onlyABOUT ADRIATIC METALS (ASX:ADT, LSE:ADT1,

OTCQX:ADMLF)

Adriatic Metals Plc is focused on the development of the use100%-owned, Vares high-grade silver project in Bosnia &

Herzegovina, and exploration at the Raska base & precious metals project in Serbia.

personalDIRECTORS

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

Foradriaticmetals.com

CHANGE IN DIRECTOR'S INTERESTS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) ('Adriatic' or the 'Company') advises that, as anticipated in the Company's announcement on 9 June 2021 following the launch of the Adriatic Foundation (the "Foundation"), Mr Paul Cronin, CEO and MD of Adriatic Metals, today gifted 250,000 ordinary shares he held in the Company to the Foundation for nil consideration ("Gifted Shares").

Background on Foundation

The Foundation was set up in June 2021 with the objective of supporting the communities around the Vares Silver Project, through initiatives designed to create a positive long-term legacy, as well as alignment between the Company and the communities that the Foundation supports. The Foundation's initiatives are specifically focussed on improving local education, healthcare and environmental protection (collectively, the "Foundation Objectives").

Funding of the Foundation

The donation of the Gifted Shares by Mr Cronin fulfils the last of the initial funding commitments made to the Foundation at the time of its launch. The other commitments included a €100,000 donation by the Company and a donation made by Sanela Karic, Non-Executive Director of Adriatic Metals, of her Directors' fees from March to June 2021.

The Gifted Shares held by the Foundation will be monetised as and when needed for initiatives, selected by its Board of Trustees, that meet the Foundation Objectives.

The Foundation continues to seek grants (non-repayable funding) from other individuals, companies and institutions to co-fund future programmes in support of the Foundation Objectives. To date, the Foundation has received additional soft commitments of over €400,000. The Company has also committed to donate 0.25% of profits from its operations in Bosnia & Herzegovina to the Foundation.

Please find attached an Appendix 3Y for Paul Cronin.

Authorised by, and for further information please contact:

Paul Cronin

Managing Director & CEO [e-mail]

-ends-

For further information please visit www.adriaticmetals.com,@AdriaticMetalson Twitter, or contact:

Adriatic Metals PLC, Regent House, 65 Rodney Road, CheltenhamGL50 1HX United Kingdom

For personal use only

Adriatic Metals PLC
Paul Cronin / Thomas Horton	Tel: [phone]
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia)	Tel: [phone]
James Asensio (UK)	Tel: [phone]
RBC Capital Markets (Joint Corporate Broker)
Marcus Jackson / Jamil Miah	Tel: [phone]
Stifel Nicolaus Europe Limited (Joint Corporate Broker)
Ashton Clanfield / Callum Stewart	Tel: [phone]
Buchanan
Bobby Morse / Ariadna Peretz	Tel: [phone]
The Capital Network
Julia Maguire / Lelde Smits	Tel: [phone]

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 Silver Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. The Company is well-funded and concurrent with the advancing the Vares Silver Project into construction, it continues to explore across its highly prospective 41km2 concession package.

Adriatic Metals Plc 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 95km2 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.

Adriatic Metals plc Regent House, 65 Rodney Road, CheltenhamGL50 1HX United Kingdom

For personal use only

DISCLAIMER

Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)", "potential(s)"and similar expressions are intended to identify forward- looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward- looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

Adriatic Metals plc Regent House, 65 Rodney Road, CheltenhamGL50 1HX United Kingdom

Page 3

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity:	Adriatic Metals PLC
ARBN	624 103 162

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Paul Cronin
Date of last notice	3 November 2021

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct & Indirect
Nature of indirect interest	Dwellstone Limited (sole shareholder)
(including registered holder)
Note: Provide details of the circumstances
giving rise to the relevant interest.
Date of change	16 November 2021
No. of securities held prior to change	Direct
	Chess Depositary Interests - 250,100
	Performance Rights - 750,000 expiring
	28 November 2022
	Indirect
	(i)	Chess Depositary Interests - 100
	(ii)	Chess Depositary Interests - 14,351,132
	Unlisted Options - 5,000,000, $0.20 Expire 1 July
	2023
Class	Chess Depositary Interests
Number acquired
	-
Number disposed	250,000 Chess Depositary Interests

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Value/Consideration	Securities were gifted to the Adriatic Foundation, a
Note: If consideration is non-cash, provide	charitable foundation set up for the objective of
supporting the communities around the Vares
details and estimated valuation
Silver Project, through initiatives designed to create
	a positive long-term legacy, as well as alignment
	between the Company and the communities that
	the Foundation supports.
No. of securities held after change
	Direct
	Chess Depositary Interests - 100
	Performance Rights - 750,000 expiring
	28 November 2022
	Indirect
	(iii)	Chess Depositary Interests - 100
	(iv)	Chess Depositary Interests - 14,351,132
		Unlisted Options - 5,000,000, $0.20
		Expire 1 July 2023
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back	Off Market

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to	N/A
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change	N/A

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002