Atalaya Mining Plc announced positive progress regarding ongoing resource definition drilling at Proyecto Masa Valverde in Huelva, Spain. As announced on 21 October 2020, the Company entered into a definitive purchase agreement to acquire 100% of Proyecto Masa Valverde which includes the Masa Valverde polymetallic deposit, the Majadales discovery and the unexplored Campanario-Descamisada area. Masa Valverde is a large single undeveloped massive sulphide deposit strategically located 28 km south of Atalaya's 15 Mtpa mill at Proyecto Riotinto and 6 km south from Sotiel underground mine owned by MATSA recently acquired by Sandfire Resources. Refer to figure 1 on the Website Announcement. The recent drilling campaign has intersected broad intervals of massive and stockwork type polymetallic sulphide mineralization including significant high grade intercepts at both Masa Valverde and Majadales. Campanario-Descamisada is a 5 km long NW trending mineralized corridor located approximately 1.5 km NE of Masa Valverde and Majadales and defined by numerous small, old workings with Au-rich gossans and occasionally relicts of massive sulphides. Limited historical drilling had returned promising results at shallow depths: for example, 8.25 meters at 1.27% Cu from 86.25 meters depth. Drilling will continue beyond the initial 8,000 meters planned for this campaign with two rigs and an aim to: (i) gain confidence in the resource estimate and obtain samples for metallurgical testing; (ii) define the extensions of known mineralization at both the Masa Valverde and Majadales deposits; (iii) test the main geophysical anomalies generated during the recently completed FLEM survey; and (iv) determine the ultimate exploration potential of the promising new area named Campanario-Descamisada target zone. Current and new drilling data will be incorporated into the NI 43-101 compliant report for Proyecto Masa Valverde that is currently being prepared by CSA Global and expected by early First Quarter 2022. The aim of the current drilling program at Proyecto Masa Valverde is to confirm, expand and upgrade historical NI 43-101 resources reported to be 66 Mt at 0.67% Cu, 1.92% Zn, 0.90% Pb, 34 g/t Ag and 0.63 g/t Au. The core obtained during the drilling campaign will also be used for metallurgical test work. To date, a total of 5,874 meters through 8 diamond drill holes have been completed by Atalaya and two more holes are in progress. Four holes were drilled at the Masa Valverde polymetallic sulphide deposit and four in the Majadales satellite body. Majadales, located 1 km to the east of Masa Valverde, was discovered by Atalaya's exploration team in July 2019 when drill testing a coincident gravity and ground electromagnetic geophysical anomaly. First resource estimation for Majadales will be included in the NI 43-101 report for Proyecto Masa Valverde that is currently in progress. Three drill holes at Masa Valverde, MJ36, MJ-38 and MJ-40, were designed as infill holes while MJ-34 was a step out hole that did not extend known mineralization to the east. Results so far confirm and improve the previously known mineralization in terms of widths and grades. Mineralization remains open in several sections of the deposit as indicated in figure 4 of the Website Announcement. Additional drilling at Masa Valverde will continue filling the main gaps of the historical drilling as well as testing the potential extensions. Priority will be given to demonstrate the continuity and size of the higher-grade Cu and Zn zones. The four holes completed at Majadales sulphide body were step out holes, three of which (MJ-35, MJ-39 and MJ-41) extended known mineralization to the east, up dip and down dip 70, 30 and 15 meters respectively as can be seen in figure 5 of the Website Announcement. Additional drilling at Majadales will be focused on testing those zones that remain open.