Atalaya Mining PLC Announces Development of Solar Plant at Proyecto Riotinto

NICOSIA, CYPRUS / ACCESSWIRE / September 24, 200 / Atalaya Mining Plc (AIM:ATYM)(TSX:AYM) is pleased to announce that it has started the permitting process to develop a 50MW solar plant at its Proyecto Riotinto (the "Solar Project"). The full capacity of the Solar Project will be used for self-consumption.

Proyecto Riotinto is located in an area with a natural abundance of sunlight which is conducive to solar power generation. Technical studies carried out by a third party during the past months have indicated that, in addition to making a significant contribution to reduce carbon emissions, the Solar Project is economically viable and could potentially contribute to reducing Proyecto Riotinto's operating costs.

The decision to pursue the Solar Project is in line with Atalaya's ongoing commitment to environmental sustainability and to continue to have a positive impact on the people, environment and society surrounding the mine.

During the permitting period, the Company will evaluate the various financing options that are being proposed by industry players in Spain.

Subject to completing the permitting process and securing financing, construction is targeted to commence by mid-2021.

Alberto Lavandeira, CEO, commented:
"We are pleased to be committing to this solar initiative which will be one of the largest projects of renewable self-consumption in the industry. This is only a first step in achieving our long-term sustainability goals, but one that will have a positive and near term impact on Proyecto Riotinto."

Contacts:

Newgate Communications

Elisabeth Cowell / Adam Lloyd / Tom Carnegie

+ 44 20 3757 6880

4C Communications

Carina Corbett

+44 20 3170 7973

Canaccord Genuity

(NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor / James Asensio

+44 20 7523 8000

BMO Capital Markets

(Joint Broker)

Tom Rider / Michael Rechsteiner / Neil Elliot

+44 20 7236 1010

Peel Hunt LLP

(Joint Broker)

Ross Allister / David McKeown

+44 20 7418 8900

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. For further information, visit www.atalayamining.com

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SOURCE: Atalaya Mining PLC

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