NICOSIA, CYPRUS / ACCESSWIRE / October 17, 2022 / Atalaya Mining Plc (AIM:ATYM)(TSX:AYM) is pleased to announce its operations update for the third quarter of 2022 ("Q3 2022" or the "Period").

Proyecto Riotinto Operating Highlights
Q3 Q2 Year-to-Date Full Year
2022(1) 2021 2022 2022 2022 Guidance

Ore mined (M tonnes) 3.6 3.4 3.6 10.5 15.5
Waste mined (M tonnes) 5.8 7.8 6.7 19.3 23.4
Ore milled (M tonnes) 3.9 3.9 4.0 11.5 15.2 - 15.4
Cu grade (%) 0.41 0.40 0.39 0.39 0.40
Cu recovery (%) 84.62 87.24 86.44 85.70 85 - 87
Cu production (tonnes) 13,453 13,893 13,386 38,300 52,000 - 54,000

(1) Figures for Q3 2022 are preliminary and final figures will be released with Q3 2022 financials.

Mining

Ore totalling 3.6 million tonnes was mined during Q3 2022, compared with 3.6 million tonnes in Q2 2022 and 3.4 million tonnes in Q3 2021.

Waste mined during Q3 2022 was 5.8 million tonnes, below the 6.7 million tonnes mined in Q2 2022 and also below Q3 2021 levels. Waste stripping year-to-date has been higher than budget as waste mining was prioritised during the temporary plant maintenance stoppage in Q1 2022.

Processing

The plant processed 3.9 million tonnes of ore during Q3 2022, which was near Q2 2022 throughput and above processing rates in Q1 2022, which was impacted by the transport sector strike and maintenance stoppage. The results demonstrate the plant's ability to operate above its 15 million tonne per annum nameplate capacity.

Copper grade was 0.41% in Q3 2022, representing an increase from 0.39% in Q2 2022 and also above the comparative period in Q3 2021 of 0.40%. Lower grades earlier in 2022 were the result of blending with lower grade stockpiles due to pit sequencing.

Copper recoveries in Q3 2022 were 84.62%, below Q2 2022 and Q3 2021 levels respectively, due to the characteristics of the ore processed during the quarter; however, performance was consistent with expectations.

Production

Copper production in Q3 2022 was consistent at 13,453 tonnes, above Q2 2022 production of 13,386 tonnes. This performance was the result of higher copper grades and consistent throughput rates.

On-site copper concentrate inventories at the end of Q3 2022 were approximately 4,349 tonnes. All concentrate in stock at the beginning of the Period was delivered to the port at Huelva.

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