Adriatic Metals PLC announced the release of its Environmental & Social Impact Assessment ("ESIA") for its Vares Project ("Vares Silver Project" or "Project") in Bosnia & Herzegovina. The Company took the decision in 2019 to conduct an ESIA in compliance with the highest recognised international industry standards. The Company appointed Wardell Armstrong International ("WAI") to produce the ESIA to conform with the Performance Requirements ("PR") set out in the European Bank for Reconstruction and Development's ("EBRD") 2019 Environmental and Social Policy, as well as taking into consideration, amongst others, the World Bank's International Finance Corporation ("IFC") Performance Standards and the recently published findings of the Global Tailings Review. The ESIA was undertaken to assess and present the risks and impacts of the Vares Silver Project along with mitigation measures and environmental and social management plans, in accordance with international best practices and standards. Specifically, the ESIA conforms to the requirements of EBRD's 2019 Environmental and Social Policy. The Company also completed a separate local permitting process to ensure the Project conforms with the legislative requirements of Bosnia & Herzegovina, a part of which also includes environmental impact assessments for different project components. The ESIA process commenced with a screening and scoping study, completed by WAI in first quarter 2020. This study allowed for the design and implementation of a baseline collection programme. Impact assessment and mitigation design, together with social, environmental and health management plans, are based on these baseline conditions and take account of the releases and effects associated with the Vares Silver Project. A critical component of the impact assessment process is the consultation with all the various stakeholders affected by the Project to ensure that the ESIA considers, as a priority, any issues identified. These stakeholders are principally those within the local communities, as well as government institutions and non-governmental organisations. An ESIA consultation process was initiated with local communities in November 2019 and has continued throughout the ESIA period. Feedback from these consultations has helped refine the baseline data collection and inform the application of the mitigation hierarchy and management planning detailed in the ESIA. The purpose of the ESIA now disclosed is to document the existing environmental and social conditions, describe the proposed operation, identify its impacts, develop implementation measures to avoid, reduce or minimise the impact of the operation and the actions needed to ensure their performance. This includes the planned activities of construction, operations and decommissioning on the following four main components of the Vares Silver Project.