Good Financial Performance Despite Impact of Energy Prices, Inflation and Transport Sector Strike

NICOSIA, CYPRUS / ACCESSWIRE / May 19, 2022 / Mining Plc (AIM:ATYM); (TSX:AYM) is pleased to announce its unaudited quarterly results for the three months ended 31 March 2022 ('Q1 2022' or 'Period'), together with its unaudited interim financial statements for Q1 2022.

The Unaudited Interim Condensed Consolidated Financial Statements for the three months ended 31 March 2022 are also available under the Company´s profile on SEDAR at www.sedar.com and on Atalaya's website at www.atalayamining.com.

Highlights

• Good financial performance including cash flows from operating activities of €28.3 million, despite unprecedented energy costs, inflationary pressures and transport sector strike
• Continued to strengthen the balance sheet, with net cash position growing to €86.8 million
• Maintaining 2022 full year operational outlook including copper production of 54 - 56 kt
• Growth pipeline advancing as outlined in the April 2022 announcements of new Mineral Resource Estimates for higher grade Riotinto District deposits - San Dionisio, San Antonio and Proyecto Masa Valverde

Q1 2022 Financial Results Summary

1. Q1 2021 includes €53 million early payment of the Deferred Consideration to Astor.
2. Includes restricted cash and bank borrowings at 31 March 2022 and 31 March 2021.

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SOURCE: Atalaya Mining PLC