Page 1

Atalaya MINING 11 August 2021 Atalaya Mining Plc ( " Atalaya " and / or the " Group " ) Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 June 2021 Atalaya Mining Plc ( AIM : ATYM ; TSX : AYM ) , the European mining and development company , is pleased to announce its quarterly and six - monthly results for the period ended 30 June 2021 ( “ Q2 2021 " and " H1 2021 " respectively ) together with its unaudited interim condensed consolidated financial statements . The Company increased EBITDA to € 99.4 million in H1 2021 ( H1 2020 : € 22.1 million ) and cash flows from operating activities to € 71.0 million ( H1 2020 : € 23.0 million ) as a result of robust operational performance at Proyecto Riotinto , combined with strong copper prices . Total cash as at 30 June 2021 was € 92.8 million up from € 37.8 million as at 31 December 2020. Atalaya maintains a strong balance sheet with net cash of € 37.8 million as at 30 June 2021 after drawing down facilities to pay Astor during Q1 2021 . The Unaudited Interim Condensed Consolidated Financial Statements for H1 2021 are also available under the Company's profile on SEDAR at www.sedar.com and on Atalaya's website at www.atalayamining.com . Financial Highlights Period ended 30 June Revenues from operations Operating costs EBITDA Profit for the period Basic earnings per share Cash flows from operating activities Cash flows used in investing activities Cash flows from / ( used in ) financing activities Net Cash / ( debt ) position ( 1 ) Working capital surplus Average realised copper price € k € k € k € k € cents / share € k € k € k € k € k US $ / lb Q2 2021 99,724 ( 47,755 ) 51,969 32,291 23.3 ( tonnes ) ( tonnes ) 34,196 ( 6,923 ) 1,893 37,777 90,892 4.27 Q2 2020 74,495 14,353 2.26 2.52 Atalaya Mining Plc 1 Lampousas Street 1095 Nicosia , Cyprus Tel : +357 22442705 Fax : +357 22421956 www.atalayamining.com 56,544 ( 43,710 ) 12,834 3,035 2.3 7,515 ( 7,746 ) ( 9,415 ) ( 15,233 ) 10,309 Cu concentrate produced Cu production Cash costs US $ / lb payable US $ / lb payable All - In Sustaining Cost ( 1 ) Includes bank borrowings and Deferred Consideration at 31 December 2020 . 2.51 60,938 13,635 1.87 2.11 H1 2020 117,733 ( 97,692 ) ( 95,625 ) H1 2021 197,104 99,412 22,108 65,993 5,966 48.1 4.6 70,999 ( 70,853 ) 54,841 37,777 ( 15,233 ) 90,892 10,309 3.92 23,000 ( 13,331 ) 14,631 141,755 28,332 2.15 2.49 2.54 120,941 26,864 1.93 2.16 Q2 2021 revenues amounted to € 99.7 million ( Q2 2020 : € 56.5 million ) . H1 2021 revenues of € 197.1 million were higher than for the same period in the prior year ( H1 2020 : € 117.7 million ) . Higher revenues were the result of higher realised copper prices and slightly larger volumes of concentrate sold . Q2 2021 operating costs were € 47.8 million ( Q2 2020 : € 43.7 million ) . H1 2021 operating costs amounted to € 97.7 million ( H1 2020 : € 95.6 million ) reflecting the higher production volumes and higher cash costs .