Atalaya Mining Plc (AIM: ATYM, TSX: AYM) is pleased to announce its audited consolidated results for the year ended 31 December 2021 ('FY2021' or the 'Period') and the publication of its Annual Report for the Period.

The Audited Consolidated Financial Statements and Annual Report for FY2021 are also available under the Company's profile on SEDAR at www.sedar.com and on Atalaya's website at www.atalayamining.com.

FY2021 Highlights

Record annual copper production of 56,097 tonnes

Record financial performance, including EBITDA of EUR199.1 million and cash flows from operating activities of EUR148.8 million

Asset portfolio enhanced - Cerro Colorado reserves, optioned Riotinto East, acquired Ossa Morena, approved E-LIX Phase I and 50MW solar plant, Masa Valverde exploration

Paid inaugural dividend of US$0.395 per ordinary share (US$54.6 million) and announced future dividend policy

Ended the Period with robust balance sheet including net cash of EUR60.1 million

Mining operations have continued normally despite COVID-19, with sufficient equipment on site to maintain the higher production levels required for the full operation of the expanded plant. Ore mined in 2021 was 13.5 million tonnes, in line with the previous year (13.6 million tonnes).

Processing

During FY2021, the plant continued to operate above nameplate capacity of 15 Mtpa and processed 15.8 million tonnes of ore with an average copper head grade of 0.41% and a recovery rate of 85.97%. In comparison to FY2020, the increased throughput and metallurgical recoveries more than offset the lower copper grades. In Q4 2021, 3.9 million tonnes of ore were processed, reporting a consistent quarterly throughput.

On-site concentrate inventories as at 31 December 2021 were approximately 5,254 tonnes (12,180 tonnes at 31 December 2020) which were fully sold in January 2022. All concentrate in stock was delivered to the port at Huelva.

Production

Concentrate production for FY2021 was 270,713 tonnes compared to 256,001 tonnes in FY2020. Contained copper was 56,097 tonnes compared to 55,890 tonnes in FY2020. Payable copper amounted to 53,390 tonnes from 53,330 tonnes in FY2020.

Contact:

Elisabeth Cowell

Tel: + 44 20 3757 6882

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.

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