Report covers the entire Riotinto property including the San Dionisio and San Antonio deposits

NICOSIA, CYPRUS / ACCESSWIRE / October 5, 2022 / Atalaya Mining Plc ('Atalaya' or 'the Company') (AIM:ATYM)(TSX:AYM) is pleased to announce the filing on SEDAR of a technical report on Proyecto Riotinto which is dated September 2022 (the 'Technical Report') and prepared in accordance with National Instrument 43-101 ('NI 43-101'). The Technical Report includes independent Mineral Resource Estimates for the Company's San Dionisio and San Antonio deposits, which form part of Proyecto Riotinto and are located adjacent to the Company's operating Cerro Colorado open pit and 15 Mtpa processing plant.

The Technical Report is entitled 'Technical Report on the Riotinto Copper Project - Located in Huelva Province, Spain' and is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.atalayamining.com.

San Dionisio Mineral Resource Estimation Details

The drilling data used for mineral resource estimation was based on 1,003 drillholes over 83,554 metres, of which 45 holes over 16,991 metres were completed by Atalaya between 2015-2021, while the remainder by past operators.

The Mineral Resource model was created as a three-dimensional block model using Datamine Studio RM software. The model block size is 10x10x10 metres, which is consistent with the estimated mining bench height and the estimated selective mining unit. The horizontal extent of the model is defined to cover the San Dionisio deposit, plus sufficient space outside the deposit to cover the ultimate pit.

San Dionisio Mineral Resource Estimate (December 2021)

Table 1: San Dionisio Open Pit - Total

Notes: July 2021 Model (21G) - 31 Dec 2020 Topo - $3.60/lb Cu Pit; totals may not sum due to rounding

Table 2: San Dionisio Open Pit - By Ore Type

Notes: July 2021 Model (21G) - 31 Dec 2020 Topo - $3.60/lb Cu Pit; totals may not sum due to rounding

Table 3: San Dionisio Underground

Notes: July 2021 Model (21G); totals may not sum due to rounding

San Antonio Mineral Resource Estimation Details

The drilling data used for resource estimation was based on 185 drillholes over 18,305 metres, of which 8 holes over 1,504 metres were completed by Atalaya, while the remainder by past operators.

The Mineral Resource model for the mineralised zone of San Antonio was created as a three-dimensional block model using Datamine Studio RM software. The model block size is 2x2x2 metres, which is used to more accurately define the geometry of the deposit. The horizontal extent of the model is defined to cover the San Antonio deposit and the adjacent Planes deposit, plus sufficient space outside the deposit for mine planning.

San Antonio Mineral Resource Estimate (December 2021)

Table 4: San Antonio Underground

Notes: May 2021 Model (21E); totals may not sum due to rounding

Technical Report and Qualified Person Statement

The Technical Report was prepared in accordance with NI 43-101 and was filed today on SEDAR (www.sedar.com). Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Resource estimates. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The Technical Report was prepared by Ore Reserves Engineering ('ORE') under the supervision of Alan Noble, PE of ORE. Mr. Noble is a Qualified Person as defined under NI 43-101 and the AIM Rules and is independent of the Company. Mr. Noble has reviewed and approves the contents of this press release. He also consents to the inclusion of information related to Mineral Resources in this disclosure, in the form and context it appears.

Glossary of Terms

Contacts:

About Atalaya Mining Plc

Atalaya is an AIM and TSX-listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest Spain. Atalaya's current operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a centralised processing hub for ore sourced from its wholly owned regional projects around Riotinto that include Proyecto Masa Valverde and Proyecto Riotinto East. In addition, the Group has a phased earn-in agreement for up to 80% ownership of Proyecto Touro, a brownfield copper project in the northwest of Spain, as well as a 99.9% interest in Proyecto Ossa Morena. For further information, visit www.atalayamining.com

Atalaya Mining Plc
1 Lampousas Street
1095 Nicosia, Cyprus
Tel: +357 22442705
Fax: +357 22421956
www.atalayamining.com

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SOURCE: Atalaya Mining PLC