Atalaya Mining PLC Announces 2022 Annual General Meeting Statement - Seite 2

The completion and implementation of flotation circuit improvements and the installation of additional tailings thickening capacity to reduce fresh water consumption, with consequent reduction in lime consumption, have combined to reduce overall power consumption and carbon footprint. As well as being economically advantageous, the completion of the permitting and the integration of the planned 50 MW solar plant on site will be a significant factor and major contributor to the attainment of corporate sustainability objectives.

Mine site exploration and infill drilling continued with successful replacement of mineable reserves and maintenance of mine life despite the increased rate of mining depletion.

For additional growth prospects, the Company is currently focusing on four main projects:

- In the north of Spain, at Proyecto Touro, the Company is engaging with local and regional stakeholders whilst progressing with, according to internationally recognised best practice, the preparation and submission of the Environmental Impact Evaluation for the revised project.

- In the south, at Proyecto Masa Valverde, exploration work is ongoing, with encouraging drilling results.

- At Proyecto Riotinto East, an electromagnetic airborne geophysical survey which started at the end of 2021 has now been completed, with several anomalies having been identified by the survey for follow-up exploration drilling.

- In December, the Company announced the acquisition of a 51% interest in Rio Narcea Nickel S.L., establishing a presence in the Ossa Morena Metallogenic Belt in the southwest of Spain, an area that includes the Alconchel copper-gold project.

In January of this year, the Company announced the start of construction of an industrial-scale E-LIX plant at Proyecto Riotinto. The plant will utilise the E-LIX System, an extraction process developed, patented and owned by Lain Technologies Ltd, to produce copper and zinc metals from sulphide concentrates. E-LIX has the potential to unlock significant value from the Company's portfolio of polymetallic resources in the Proyecto Riotinto district by materially increasing the recoveries of copper, zinc, lead and precious metals from complex sulphide ores. The plant will have the capacity to produce up to 10,000 tonnes of metal annually, depending on the copper/zinc mix, thus reducing transportation costs, treatment charges and penalties associated with producing and delivering conventional concentrates.