Ann: Adriatic Metals Quarterly Activities Report and Cashflow, page-2

HIGHLIGHTS• Additional mineralised drill intercepts confirmed a robust extension of the high-grade mineralisation, that remains open along strike.• Further metallurgical test work produced a Copper concentrate grading 25.1% Copper and containing 9,550 g/t Silver and 20.9 g/t gold. A sequential locked cycle test also produced saleable lead, zinc and barite concentrates.• Successfully negotiated an amendment to the Vares Project Concession Agreement thereby confirming the Company’s rights to gold, silver and copper.• Reprocessing of gravity survey data over the Rupice and Jurasevac-Brestic areas highlighted several significant geophysical anomalies as drill targets.• Drilling continues with 5 rigs with over 2,800m of the 2020 exploration program completed.• Cash balance at 31 March 2019 of £11.8 million (A$23.8 million) ensuring continuity of operations from existing cash resources well into 2021.