• Adriatic Metals confirms discussions with Dundee Precious Metals regarding a possible offer
• Adriatic has agreed to provide Dundee with limited due diligence information
• No certainty that any firm offer will be made or the terms of such offer

Adriatic Metals Plc ('Adriatic' or the 'Company') has confirmed that it is in discussions with Dundee Precious Metals Inc. ('Dundee') regarding a possible offer for the entire issued and to be issued ordinary share capital of the Company (the 'Proposal'). To facilitate such discussions, Adriatic has agreed to provide Dundee with access to limited due diligence information. Discussions remain ongoing and there can be no certainty that any firm offer will be made, nor as to the terms of any such offer. Further announcements will be made in due course, as appropriate. In the meantime, the Company's shareholders are advised to take no action. In accordance with Rule 2.6(a) of the UK Takeover Code, Dundee is now required, by not later than 5:00 pm (London time) on 17 June 2025, to either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer. This announcement is being made without the consent of Dundee, and as a consequence, an 'offer period' has now commenced in respect of the Company in accordance with the rules of the Code.