Appointment of Non-Executive Director

Vast Resources

07/05/2025 07:00

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

7 May 2025

Vast Resources plc
(“Vast” or the “Company”)

Appointment of Non-Executive Director

Vast Resources plc, the AIM quoted mining company, is pleased to announce the appointment of Mr James McFarlane as a Non-Executive Director with immediate effect.

James McFarlane is a globally experienced technical mining professional, with a strong background in UK and European mining operations. James has held senior roles in active mining operations in England, Wales, Scotland, Ireland and Australia, and also as a mining consultant supporting exploration and project development studies (Mineral Resource Estimates, Ore Reserve Estimates and Feasibility Studies), across a range of commodities worldwide including gold, copper, and other base and critical metals.

James holds a MSc from the Camborne School of Mines in Mining Geology, is a Chartered Geologist, Chartered Engineer and Registered Professional Geoscientist in the fields of Mining and Mineral Exploration. He is a Fellow of the IOM3, Geological Society of London, the Institute of Quarrying, the North of England Institute of Mining and Mechanical Engineers and is also a Member of the Australian Institute of Geoscientists.

Andrew Prelea, CEO of Vast, commented:
“I’m delighted to welcome James to the Vast team. His outstanding technical credentials and wealth of experience across European and international mining projects make him an exceptional addition to our board. Following the release of the Historic Diamond Parcel, the Company is entering an exciting new chapter, and we look forward to working with James as we continue our unwavering focus on building a mid-tier mining company.”

Further information on James McFarlane’s appointment:

The following details in relation to the appointment of James McFarlane, are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules:

James Andrew Stuart McFarlane (aged 40) has held the following directorships and/or partnerships in the past five years.

Current Directorships/Partnerships
Previous Directorships/Partnerships in the past 5 years
None
R²C Mining Consultancy

James McFarlane holds no shares in the Company.
There is no further information to be disclosed in relation to James McFarlane’s appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources plc
Andrew Prelea (CEO)
www.vastplc.com
+44 (0) 20 7846 0974
Strand Hanson Limited – Nominated & Financial Adviser
James Spinney / James Bellman
www.strandhanson.co.uk
+44 (0) 20 7409 3494
Shore Capital Stockbrokers Limited – Joint Broker 
Toby Gibbs / James Thomas (Corporate Advisory)
www.shorecapmarkets.co.uk
+44 (0) 20 7408 4050
Axis Capital Markets Limited – Joint Broker 
Richard Hutchinson 
www.axcap247.com
+44 (0) 20 3206 0320
St Brides Partners Limited
Susie Geliher / Charlotte Page / Will Turner
www.stbridespartners.co.uk
+44 (0) 20 7236 1177

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM quoted mining company with mines and projects in Romania, Tajikistan, and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA which owns 100% of the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

The Company retains a continued presence in Zimbabwe. The Company is re-engaging its future investment strategy in Zimbabwe and has commenced discussions with further mining concessions in-country alongside its wider portfolio.

Vast has an interest in a joint venture company which provides exposure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced.

Also in Tajikistan, Vast has been contracted to develop and manage the Aprelevka gold mines on behalf of its owner Gulf International Minerals Ltd (“Gulf”) under which Vast is entitled, inter alia, to 10% of the earnings that Gulf receives from its 49% interest in Aprelevka in joint venture with the government of Tajikistan. Aprelevka holds four active operational mining licences located along the Tien Shan Belt that extends through Central Asia, currently producing approximately 11,600oz of gold and 116,000 oz of silver per annum. It is the intention of the Company to assist in increasing Aprelevka’s production from these four mines closer to the historical peak production rates of approximately 27,000oz of gold and 250,000oz of silver per year from the operational mines.