Adriatic Metals PLC announced that it has received the Veovaca Exploitation Permit from the Federal Ministry for Energy, Mining and Industry ("FMERI"). The receipt of the Permit initiates the formal exploitation period for the project, which under the terms of the Concession Agreement is up to 30 years. As the Concession Agreement covers both Veovaca and Rupice the security of tenure applies to both the Veovaca open pit and plant areas, as well as the Rupice underground mine areas. The receipt of this Permit also enables Adriatic to complete the Main Mining Project for the Veovaca open pit mine, flotation plant, and tailings management facility at a detailed engineering level for the start of construction in Third Quarter 2021. The Exploitation Permit required before the commencement of underground development at Rupice is expected in Second Quarter 2021, and will be applied for following the issue of the Environmental & Urban Planning Permits for Rupice, in a process similar to what has recently been completed for Veovaca.