Atalaya Mining plc

Exercise of option to acquire interest in the Touro Copper Project ("Proyecto Touro") in Spain

NICOSIA, CYPRUS--(Marketwired - Feb 23, 2017) - Atalaya plc ("Atalaya" or the "Company") (AIM: ATYM) (TSX: AYM), the European mining and development company, announces that it has exercised an option to acquire 10% of the share capital of Cobre San Rafael S.L., ("CSR"), a wholly owned subsidiary of Explotaciones Gallegas S.L. ("EG"), part of the F. GOMEZ Group. This is part of an earn-in agreement (the "Agreement"), which will enable the Company to acquire up to 80% of CSR.

Acquisition Rationale
Atalaya is focused on creating a portfolio that combines producing, development and exploration assets. By acquiring an initial 10% of CSR, the Board of Atalaya sees this Agreement as a low risk first step in creating a growth portfolio to complement Proyecto Riotinto, which is now fully operational.

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Contacts:
Atalaya Mining plc
Roger Davey / Alberto Lavandeira
[phone]

Canaccord Genuity (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor / Martin Davison
[phone]

BMO Capital Markets (Joint Broker)
Jeffrey Couch/Neil Haycock/Tom Rider
[phone]