SOURCE: Atalaya Mining PLC

July 14, 2016 02:00 ET

Atalaya Mining PLC: Updated Reserves and Resources Statement

NICOSIA, CYPRUS--(Marketwired - Jul 14, 2016) - Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)

AIM: ATYM; TSX: AYM

Atalaya Mining plc
("Atalaya" or the "Company")

Updated Reserves and Resources Statement

Atalaya (AIM: ATYM) (TSX: AYM), the European mining and development company, announces an updated Mineral Reserves and Resources estimate for the Riotinto Copper Project ("Proyecto Riotinto") as at 30 June 2016. These estimates, outlined below, have been compiled in accordance with the guidelines set out in Canadian National Instrument 43-101.

Highlights

  •  Total open pit Mineral Reserves estimate of 153 million tonnes averaging 0.45% Cu using variable, declining cut-off grades for 681,000 tonnes of contained Cu metal, (previous total 606,000 tonnes), representing over a 12% increase.
  •  Total open pit Measured and Indicated Mineral Resources estimate of 193 million tonnes averaging 0.43% Cu and an additional Inferred open pit Mineral Resource estimate of 23 million tonnes averaging 0.48%, both calculated using a 0.20% Cu cut-off grade.

Total Mineral Reserves for Proyecto Riotinto

June 2016 Estimate
    Proven   Probable   Mineral Reserve
  Tonnes
(millions)
  % Cu   Tonnes
(millions)
  % Cu   Tonnes
(millions)
  % Cu   Contained Cu t   Waste:Ore
ratio
New Reserve   78   0.45   74   0.44   153   0.45   681,000   1.9
Previous Reserve   39   0.38   84   0.54   123   0.49   606,000   1.1

Totals may not equal the sum of the components due to rounding adjustments

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/1271E_1-2016-7-13.pdf  

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