REG-Award Of Rights Under The Company’s SARs Scheme

Vast ResourcesAnnouncement

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

7 July 2025

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

Award of rights to employees and consultants under the
Company’s Share Appreciation Rights (“SARs”) scheme

Vast Resources plc, the AIM-listed mining company, announces the grant of
certain awards (the “Awards”) under the Company’s Share Appreciation
Rights scheme (the “Scheme”). The Scheme was established in June 2015 to
incentivise directors, management, employees and consultants of the Company.

The basis of the Scheme

The basis of the Scheme is to grant a fixed number of SARs to participants,
whereby each SAR gives the holder the right, at the discretion of the Company,
to either receive an ordinary share of 0.1p in Vast (each an “Ordinary
Share” and together the “Ordinary Shares”) based on the relevant grant
price of the SARs (the “Grant Price”), or to receive cash equal to the
difference between the Grant Price and the volume weighted average price of
the Company’s Ordinary Shares on the date of exercise of the SAR.  

Subject to any condition imposed in relation to any particular Award, a SAR
may be exercised at any time from the date of issue until the date of its
expiry.

The Awards

The aggregate Awards to employees and consultants represent a total of
57,500,000 SARs, with such SARs expiring on 31 March 2028.

The employees and consultants to whom the Awards are being made, and who do
not include any directors of the Company, have over the past several months
all agreed to accept significant deferment of remuneration or fees due to them
pending the release of the Company’s historical diamond parcel. As a
consequence, the Grant Price applicable to the Awards has been agreed by the
Company’s board of directors to be 0.142p, being the VWAP of the Ordinary
Shares the day following the announcement of the release of the historical
diamond parcel, instead of a price equal to the 6 month VWAP of an Ordinary
Share immediately preceding the grant of a SAR, which would otherwise be the
Grant Price under the rules of the Scheme.

The Company is also reviewing incentives to executive directors and other
senior personnel, with a view to making further SARs awards in due course.
Such SARs are expected to be on broadly similar terms and represent a maximum
entitlement to Ordinary Shares representing, in aggregate, approximately 3.7
per cent. of the Company’s currently issued share capital.

**ENDS**

For further information, please visit the Company’s website at
www.vastplc.com or contact:

 Vast Resources plc Andrew Prelea (CEO)                                                              +44 (0) 20 7846 0974                                     
                                                                                                                                                              
 Strand Hanson Limited – Nominated & Financial Adviser James Spinney / James Bellman                 +44 (0) 207 409 3494                                     
                                                                                                                                                              
 Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)    +44 (0) 20 7408 4050                                     
                                                                                                                                                              
 Axis Capital Markets Limited – Joint Broker Richard Hutchinson                                      +44 (0) 20 3206 0320                                     
                                                                                                                                                              
 St Brides Partners Limited Susie Geliher                                                            http://www.stbridespartners.co.uk/ +44 (0) 20 7236 1177  

ABOUT VAST RESOURCES

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.

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