Adriatic Metal. Regulatory News (ADT1)

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

Tethyan Resource Corp. managementinformation circular dispatched

Precious and base metals explorer and developer Adriatic Metals Plc (ASX:ADT, LON:ADT1) is pleased to announce that the management information circular ("Circular") in relation to the acquisition of 100% of the outstanding common shares in Tethyan Resource Corp. (TSX-V:TETH) ("Tethyan") by Adriatic, pursuant to a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"), was dispatched to Tethyan securityholders on Friday, 17 July 2020 (Vancouver time).

A copy of the Circular can be obtained at Tethyan's website https://www.tethyan-resources.com/ and on SEDAR https://www.sedar.com/.

The special meeting of Tethyan shareholders to approve the Arrangement will be held on 17 August 2020 at 10:00am (Vancouver time) and, subject to satisfaction or waiver of all conditions precedent to the Arrangement, including obtaining the requisite approval of the Tethyan shareholders, a final order from the Court approving the Arrangement, and acceptance of the TSXV, it is anticipated that the Arrangement will be completed in August or September, 2020.

In connection with the Arrangement, and in compliance with ASX Listing Rule requirements, an Appendix 3B (Proposed Issue of Securities) has been issued to the Australian Securities Exchange (ASX). The statement is available on the Company's website: https://www.adriaticmetals.com/investors/asx-announcements/

Authorised by, and for further information please contact: Paul CroninManaging Director & CEOinfo@adriaticmetals.com

** ENDS **

Market Abuse Regulation Disclosure

The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person ‎responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.

For further information please visit www.adriaticmetals.com; @AdriaticMetals on Twitter; or contact:

About Adriatic Metals

Adriatic Metals Plc (ASX:ADT, LON:ADT1) is a precious and base metals explorer and developer that owns the world-class advanced polymetallic Vares project in Bosnia & Herzegovina.

The Vares project consists of two high-grade polymetallic deposits, located at Rupice and Veovaca. Bosnia & Herzegovina is well-positioned in central Europe and boasts a strong mining history, pro-mining environment, highly-skilled workforce as well as extensive existing infrastructure and logistics.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent scoping study indicate an NPV8 of US$917 million and IRR of 107%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production.