Atico Produces 4.95 Million Pounds of Cu and 2,733 Ounces of Au in Second Quarter 2020

VANCOUVER, British Columbia, July 14, 2020 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) announces its operating results for the three months ended June 30, 2020 from its El Roble mine. Production for the quarter totaled 4.95 million pounds of copper and 2,733 ounces of gold in concentrates, an increase of 57% for copper and an increase of 29% for gold over the same period in 2019.

“We are pleased to report production results in line with our 2020 objectives while the mine continued to operate under strict preventative protocols and health policies. To date, we have no confirmed cases of the COVID-19 at the mine site,” said Fernando E. Ganoza, CEO. “We continue to put tremendous emphasis on the health and safety of all of our employees while at the same time keeping a focus on delivering our 2020 production guidance.”

Second Quarter Operational Highlights

• Production of 4.95 million pounds of copper contained in concentrates; an increase of 57% over Q2 2019.
• Production of 2,733 ounces of gold contained in concentrates; an increase of 29% over Q2 2019.
• Average processed tonnes per day of 903, an increase of 8% over Q2 2019.
• Copper head grade of 3.38%, an increase of 3% over Q2 2019.
• Gold head grade of 2.02 grams per tonne; a decrease of 13% over Q2 2019.
• Copper and gold recovery of 92.7% and 58.6%; an increase of 1% for copper and no significant change for gold over Q2 2019.

Second Quarter Operational Review

Overall production was in line with Company budget for the second quarter. The increase in most output metrics for the quarter is explained by the mine operating for the full quarter relative to Q2-2019 where the operation was stopped during the 2019 miners strike. The operation remains on track to deliver on set guidance throughout the remainder of the year.

The Company continues to closely monitor developments around the COVID-19 pandemic and continues to maintain strict preventative measures at the El Roble mine site, La Plata project, as well as our corporate offices to safeguard the health of its employees, while continuing to operate effectively and responsibly in its communities.

Second Quarter Operational Details

	Q2 2020 Total	Q2 2019 Total	% Change
Production (Contained in Concentrates)
Copper (000s pounds)	4,952	3,157	57%
Gold (ounces)	2,733	2,116	29%
Mine
Tonnes of ore mined	76,825	47,321	62%
Mill
Tonnes processed	71,804	47,534	51%
Tonnes processed per day	903	839	8%
Copper grade (%)	3.38	3.28	3%
Gold grade (g/t)	2.02	2.34	-13
Recoveries
Copper (%)	92.7	91.7	1%
Gold (%)	58.6	58.4	Nil
Concentrates
Copper and Gold Concentrates (dmt)	10,828	6,561	65%
Payable copper produced (000s lbs)	4,704	2,999	57%
Note: Metal production figures are subject to adjustments based on final settlement.

Concentrate Inventory