Adriatic Metals plc announced the updated Rupice Mine Ore Reserves, as part of the fully owned Vares Silver Project in Bosnia & Herzegovina totalling 13.8Mt at 187g/t Ag, 5.2% Zn, 3.3% Pb, 1.4g/t Au, 0.5% Cu and 0.2% Sb containing an estimated 83Moz of silver, 723Kt of zinc, 457Kt of lead, 640Koz of gold, 64Kt of copper and 24kt of antimony. The updated ore reserve estimate was completed by AMC Consultants (AMC) with the assistance of the Adriatic technical services team using industry best practice. The final signed off report from AMC was received on 12 December 2023.

The Mineral Resource estimate has been reported in accordance with the JORC Code. The Mineral Resource is reported inclusive of Ore Reserves. It is worth noting that infill and exploration drilling after the July 2023 MRE are not incorporated into these ore reserve estimates.

The significant increase in ore reserves underpins an 18-year mine life, which now extends until 2041. This is an increase of 8 years from the initial reserve announced as part of the 2021 Definitive Feasibility Study ("DFS") and shows that Rupice has outstanding potential for further growth.