Board Update

Vast Resources

03/03/2023 07:00

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

3 March 2023

Vast Resources plc
(‘Vast’ or the ‘Company’)

Board Update

The Board of Vast Resources today announces that Craig Harvey, Technical
Director, has notified the Board of his intention to step down as a director
of the Company which will become effective immediately.

Andrew Prelea, CEO of Vast, commented:

“On behalf of all the board, I would like to thank Craig for his
contribution to the Company during his tenure as a director. We wish him well
for the future.”

Market Abuse Regulation (MAR) Disclosure

Certain information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of
the European Union (Withdrawal) Act 2018 (“UK MAR”) until the release of
this announcement.

**ENDS**

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

 Vast Resources plc Andrew Prelea (CEO) Andrew Hall (CCO)                                            www.vastplc.com + 44 (0) 20 7846 0974            
 Beaumont Cornish – Financial & Nominated Advisor Roland Cornish James Biddle                        www.beaumontcornish.com +44 (0) 20 7628 3396     
 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                                                            www.stbridespartners.co.uk +44 (0) 20 7236 1177  

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed 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.

Vast has an interest in a joint venture company which provides a share of
revenue generated 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 equivalent over all sales of non-ferrous concentrate and any
other metals produced.

In Zimbabwe, the Company is preparing for the release of its diamonds
previously mined by the Company and preparing for their marketing. Upon the
finalisation of the process the Company will recommence its focus on the
finalisation of the mining agreement on the Community Diamond Concession in
the Marange Diamond Fields