Positive Legal Update on Proyecto Riotinto

30 January 2020

Atalaya Mining Plc.

("Atalaya" or "the Company")

Positive Legal Update on Proyecto Riotinto

Atalaya Mining Plc. (AIM:ATYM, TSX:AYM), the European mining and development company, is pleased to provide a positive update relating to the environmental permits at Proyecto Riotinto.

The Junta de Andalucía ("JdA") has issued a favorable report in relation to the Unified Environmental Authorization (the "AAU") of Proyecto Riotinto. The AAU is now on a short legal consultation period exclusively with parties involved in the process. After this process is completed, the JdA is expected to issue the validated AAU.

This process will finally resolve all the administrative issues identified in the ruling of the Tribunal Superior de Justicia de Andalucía ("TSJA") on 19 September 2018 regarding the AAU.

The validation of the AAU is a required step towards the automatic re-validation of the mining permit for Proyecto Riotinto. The Company continues to operate the mine normally and will update the market on any development in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) no 596/2014.

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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. 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 which is currently in the permitting stage. For further information, visit www.atalayamining.com