Adriatic Metals PLC Exploration drilling at Rupice Northwest, which lies outside the Company's current reserve and resource estimates, continues to intercept additional thick, high-grade massive sulphide mineralisation up-dip and down plunge from previously reported intersections. The current exploration drilling campaign at Rupice Northwest is designed to confirm whether the high-grade mineralisation at the existing Rupice Mineral Resource ("RMR") continues along strike to the northwest. The intercepts announced are assay results from nine exploration drill holes out of nineteen completed in the year to date.

These assay results are in addition to the results announced previously on 30 June 2022. Assay results from Rupice Northwest, as detailed below, confirm extension of mineralisation along strike of RMR. Widths and grades intercepted at Rupice Northwest are equivalent to those held within the existing high-grade RMR; continuity between approximately 80m spaced sections has been established over a strike extent of 250m. Further drilling in the remainder of 2022 will reduce this spacing to approximately 40m between drill lines.

By year end, a drilling gap of less than 90m will separate RMR from the adjacent Rupice Northwest mineralisation. There is no evidence to indicate Rupice Northwest is not connected or is located on a separate geological system to RMR. In addition, the direct strike and plunge continuity suggests that even if faulted, there is minimal, if any, displacement between Rupice Northwest and RMR. Drillhole highlights: Drillholes BR-04-22 and BR-05-22 are located 155m northwest of RMR. They are respectively drilled up-dip and down-dip of previously reported hole BR-12-21 (24.7m at 514g/t AgEq), intercept: BR-04-22 ­ 32.5m at 657 g/t AgEq, 21.1% ZnEq (78g/t Ag, 10.1% Zn, 4.7% Pb, 0.8g/t Au, 0.3% Cu, 69% BaSO4, 0.1% Sb) from 285.5m: including 2m at 1,331 g/t AgEq, 42.8% ZnEq (170g/t Ag, 19.7% Zn, 18.5% Pb, 0.5g/t Au, 1.2% Cu, 40% BaSO4, 0.2% Sb) from 315.0m. BR-05-22 ­ 4.1m at 197 g/t AgEq, 6.3% ZnEq (51g/t Ag, 1.8% Zn, 1.9% Pb, 0.2 g/t Au, 0.1% Cu, 4% BaSO 4, 0.4% Sb) from 214.1m.

At the time of release, barium sulphate assays values for holes BR-06-22 to BR-13-22 are preliminary. All other assay results are final. Ag and Zn equivalent calculations have been completed using preliminary BaSO 4 assay results.

Drillholes BR-06-22 and BR-07-22, located 175m northwest of RMR and drilled up-dip of the currently reported hole BR-04-22 (32.5m at 657 g/t AgEq), intercepted: BR-06-22 ­ 18m at 968 g/t AgEq, 31.1% ZnEq (242 g/t Ag, 12.3% Zn, 8.4% Pb, 1.4 g/t Au, 0.6% Cu, 42% BaSO4, 0.1% Sb) from 245.2m: including 3.8m at 1,848 g/t AgEq, 59.4% ZnEq (763 g/t Ag, 16.3% Zn, 15.2% Pb, 3.6g/t Au, 0.6% Cu, 31% BaSO4, 0.1% Sb) from 245.2m. including 6.2m at 1,174 g/t AgEq, 37.7% ZnEq (169 g/t Ag, 19% Zn, 11.1% Pb, 1.2 g/t Au, 1.0% Cu, 42% BaSO4, 0.1% Sb) from 254.0m. BR-06-22 ­ 2.3m at 514 g/t AgEq, 16.5% ZnEq (139 g/t Ag, 2.4% Zn, 2.8% Pb, 1.3 g/t Au, 0.5% Cu, 3% BaSO4, 1.1% Sb) from 148.3m.

BR-07-22 ­ 7.0m at 1,357 g/t AgEq, 43.6% ZnEq (545 g/t 12.3% Zn, 8.1% Pb, 3.1g/t Au, 0.7% Cu, 32% BaSO4, 0.1% Sb) from 239.0m: including 5.4m at 1,736 g/t, 55.8% ZnEq (700 g/t Ag, 15.7% Zn, 10.3% Pb, 4.0 g/t Au, 0.9% Cu, 42% BaSO4, 0.1% Sb) from 239.0m. Drillholes BR-08-22 and BR-10-22, located 250m northwest of RMR and drilled down plunge of the previously reported hole BR-12-21 (24.7m at 514g/t AgEq), intercepted: BR-08-22 ­ 18.4m at 194 g/t AgEq, 6.2% ZnEq (91g/t Ag, 2.2% Zn, 0.9% Pb, 0.02 g/t Au, 0.02% Cu, 13% BaSO4, 0.1% Sb) from 267.0m. BR-08-22 ­ 9.0m at 95 g/t AgEq, 3.1% ZnEq (50g/t Ag, 1.0% Zn, 0.4% Pb, 0.01 g/t Au, 0.01% Cu, 7% BaSO4, 0% Sb) from 291.0m.

BR-08-22 ­ 41.0m at 520 g/t AgEq, 16.7% ZnEq (95 g/t Ag, 6.2% Zn, 4.2% Pb, 0.5g/t Au, 0.4% Cu, 56% BaSO4, 0.1% Sb) from 305.0m: including 1.7m at 1,421 g/t AgEq, 45.7% ZnEq (160 g/t Ag, 19.4% Zn, 1.6g/t Au, 2.1% Cu, 28% BaSO4, 0.5% Sb) from 334.0m. BR-10-22 ­ 4.3m at 682 g/t AgEq, 21.9% ZnEq (407 g/t Ag, 2.3% Zn, 2.4% Pb, 0.7 g/t Au, 0.1% Cu, 81% BaSO4, 0.1% Sb) from 313.9m. Drillhole BR-09-22, located 90m northwest of RMR and drilled to test the area between the previously reported holes BR-06-22 (18.0m at 968 g/t AgEq) and BR-02-22 (23.0m at 831g/t AgEq), intercepted: BR-09-22 ­ 11.8m at 1,212 g/t AgEq, 39.0% ZnEq (307g/t Ag, 13.9% Zn, 10.4% Pb, 1.5 g/t Au, 2.2% Cu, 18% BaSO4, 0.2% Sb) from 284.4m: including 9.0m at 1,497 g/t AgEq, 48.1% ZnEq (388 g/t Ag, 17.1% Zn, 13.2% Pb, 1.9g/t Au, 2.5% Cu, 23% BaSO4, 0.2% Sb) from 284.4m.

Drillholes BR-12-22 and BR-13-22, located 75m northwest of the existing RMR and drilled to test the southeast extension of the previous reported drill fan of BR-01-22, BR-02-22 and BR-03-22, intercepted: BR-12-22 ­ 12.3m at 797 g/t AgEq, 25.6% ZnEq (296 g/t Ag, 7.4% Zn, 4.5% Pb, 1.8g/t Au, 0.4% Cu, 35% BaSO4, 0.1% Sb) from 201.0m including 7.0m at 1,312g/t AgEq, 42.2% ZnEq (495 g/t Ag, 12.1% Zn, 7.4% Pb, 2.9g/t Au, 0.6% Cu, 59% BaSO4, 0.1% Sb) from 201.0m. BR-13-22 ­ 19.9m at 846 g/t AgEq, 27.2% ZnEq (421g/t Ag, 5.6% Zn, 4.0% Pb, 1.7g/t Au, 0.4% Cu, 32% BaSO4, 0.1% Sb) from 207.0m including 6.5m at 1,861 g/t AgEq, 59.8% ZnEq (1,020 g/t Ag, 12.1% Zn, 7.7% Pb, 3.8 g/t Au, 0.6% Cu, 54% BaSO4, 0.3% Sb) from 210.0m. As previously announced on 30 June 2022, step-out exploration drilling intersected high-grade mineralisation in drill holes BR-01-22, BR-02-22 and BR-03-22 located 90m northwest of the existing RMR. Subsequently, the Company has focused exploration activities on testing of this northwest extension with continued success.

The new results have shown continuity of mineralisation up-dip and down plunge from previous reported drill hole BR-12-21. Hole BR-07-22 extended the previously known mineralisation 83m up-dip, while hole BR-05-22 confirmed continuity within the upper zone of mineralisation. Drill holes BR-11-22, BR-14-22, BR-15-22, BR-16-22, BR-17-22 and BR-18-22 have also been completed and are awaiting assay results.

Each of these holes intersected significant zones of massive sulphide mineralisation. Drilling of Rupice Northwest will continue to end of year with the objective of generating a maiden Inferred resource estimate for Rupice Northwest in first quarter of 2023.