18 May 2022

Atalaya Mining Plc.

("Atalaya" or "the Company")

Filing of Proyecto Masa Valverde Technical Report

New Mineral Resource Estimate included significant increase in tonnage and contained copper

Atalaya Mining Plc (AIM: ATYM, TSX: AYM) is pleased to announce the filing of a technical report ("Technical Report") for its 100% owned Proyecto Masa Valverde ("PMV"), which supports the increased Mineral Resource Estimate ("MRE") that was announced by the Company on 5 April 2022.

PMV is located in the Iberian Pyrite Belt of southern Spain approximately 28 km to the south of Atalaya's 15 Mtpa processing plant at Proyecto Riotinto. PMV consists of two mineralisation zones, Masa Valverde and Majadales, which are 1 km apart. As previously announced, the MRE represented a significant increase in tonnage and contained copper, silver and gold versus the prior estimate, with increases of 42%, 33%, 26% and 34%, respectively.

The Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.atalayamining.com.

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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. For further information, visit www.atalayamining.com