Investment in Lara Exploration Ltd.

Summary by AI ^BETAClose X

Atalaya Mining Copper, S.A. has acquired 4,500,000 shares in Lara Exploration Ltd. for C$13.5 million, representing approximately 7.3% of Lara's issued shares. This investment is for the purpose of acquiring shares in Lara Exploration Ltd., which owns the Planalto copper-gold project in Brazil, a project that has an independent Preliminary Economic Assessment outlining an 18-year mine life with estimated production of 560 kilotonnes of copper and 111 kilounces of gold. Lara intends to use the proceeds from this and other financings to advance the Planalto project and for general corporate purposes.

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Atalaya Mining Copper, S.A.

02 April 2026

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2 April 2026

Atalaya Mining Copper, S.A.

("Atalaya" or the "Company")

Investment in Lara Exploration Ltd.

Atalaya Mining (LSE: ATYM) is pleased to announce it has acquired 4,500,000 shares of Lara Exploration Ltd. ("Lara") for C$13.5 million (the "Subscription").

Lara is listed on the TSX Venture Exchange (TSX-V: LRA) and owns a 100% interest in the Planalto copper-gold project located in the Carajás Mineral Province of northern Brazil.

In October 2025, Lara published the results of an independent Preliminary Economic Assessment ("PEA") for Planalto that contemplated a conventional open pit mine, flotation processing plant with capacity of 8 Mtpa and estimated production of 560 kt copper and 111 koz gold over a life of mine of 18 years.

The Subscription shares were acquired via private placement at a price of C$3.00 per share and represent approximately 7.3% of Lara's issued and outstanding shares following completion of the brokered and non-brokered private placements as announced by Lara on 1 April 2026. Lara intends to use the proceeds of the financings to advance Planalto and for general corporate and working capital purposes.

Atalaya is acquiring the Subscription shares for investment purposes.

Contacts:

SEC Newgate UK	Clotilde Gros / George Esmond / Gwen Samuel	+44 20 3757 6882
Atalaya Mining	Michael Rechsteiner	+34 959 59 28 50

About Atalaya Mining Copper, S.A.

Atalaya is a European copper producer that owns and operates the Proyecto Riotinto complex in southwest Spain. Atalaya's shares trade on the London Stock Exchange's Main Market under the symbol "ATYM" and Atalaya is a FTSE 250 Index constituent.

Atalaya's operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a central processing hub for ore sourced from its wholly owned regional projects around Riotinto, such as Proyecto Masa Valverde and Proyecto Riotinto East. In addition, Atalaya has a phased earn-in agreement for up to 80% ownership of Cobre San Rafael S.L., which fully owns the Proyecto Touro brownfield copper project in the northwest of Spain, as well as a 99.9% interest in Proyecto Ossa Morena. For further information, please visit www.atalayamining.com

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