REG-Exercise of Warrants

Vast ResourcesAnnouncement

12/05/2025 15:30

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12 May 2025

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

Exercise of Warrants

Vast Resources plc, the AIM quoted mining company, announces that it has
received notice to exercise warrants over a total of 202,000,000 new ordinary
shares of 0.1 pence each in the Company (“Warrant Shares”) at an exercise
price of 0.4p per Warrant Share, raising £808,000 for the Company.

Application has been made to the London Stock Exchange for the admission of
the Warrant Shares to trading on AIM (“Admission”). It is expected that
Admission will become effective and that dealings in the Warrant Shares will
commence at 8.00 a.m. on or around 13 May 2024. The issued new Ordinary Shares
will rank pari passu in all respects with the existing Ordinary Shares.

Following Admission, the enlarged issued ordinary share capital of Vast will
consist of 3,005,607,357 Ordinary Shares with one voting right per Ordinary
Share.

The Company does not hold any Ordinary Shares in Treasury and accordingly the
above figure of 3,005,607,357 may be used by shareholders as the denominator
for the calculations by which they can determine if they are required to
notify their interest in, or a change to their interest in the Company under
the Financial Conduct Authority's Disclosure and Transparency Rules.

**ENDS**

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

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

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