REG-Operational Update

Vast ResourcesAnnouncement

12/06/2025 07:00

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12 June 2025

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

Operational Update

Vast Resources plc, the AIM quoted mining company, is pleased to announce that
it has established a group technical services function including the input of
experienced mining engineers, geologists and operations management which will
be tasked with undertaking a review of Vast’s existing asset base. The focus
will be to establish a sustainable operational plan that will subsequently
support ongoing technical studies aimed at unlocking the potential of the
current asset base as well as assessing new potential opportunities in
Romania, Tajikistan and Zimbabwe.

Overview
* Very encouraging initial indications of diamond quality following
preliminary cleaning of a representative of parcel of stones.
* Initial diamond sales, by way of public or private tender in Dubai, are
expected to commence in the coming weeks.
* Comprehensive technical review of the Romanian assets focussing on the Baita
Plai Mine in Romania in Q3 2025 with the objective of establishing the optimal
mining strategy.
* This plan will likely include the development a new drilling programme and
mine plan designed to grow and increase the confidence of the current JORC
Resource and Reserve base.
* The technical review will also consider the opportunity to restart
activities at the Manaila-Carlibaba Copper Mine in Romania during H2 2025.
Andrew Prelea, CEO of Vast, commented:
“Our recent success with the return of the Historic Parcel of diamonds has
sparked a comprehensive review of our asset portfolio and our strategy for
becoming a mid-tier production company. Our Romanian assets, specifically
Baita Plai and Manaila-Carlibaba, hold significant value for the Company. We
are now working towards realising the potential of these assets through a
comprehensive and diligent technical assessment of these assets, including the
development of a sustainable mining plan at Baita Plai, and the opportunity of
restarting mining activities at Manaila-Carlibaba. I look forward to providing
updates on these processes in the coming months, along with news on the
expected diamond sales in the coming weeks.”

Further Information

Update on Diamond Consignment
The Company is now undertaking initial cleaning of a representative selection
of parcels of stones from the Diamond Consignment, with initial indications of
quality, interpreted by industry specialists using industry standard
inspections, being very encouraging and supportive of the Company’s current
sales and marketing strategy which involves primary beneficiation, and a
phased sale of stones to maximise revenues.

Vast expects that initial diamond sales, by way of public or private tender in
Dubai, will commence in a matter of weeks, and further updates on this process
will be provided in due course.

Romanian Operations
One of the Company’s immediate priorities is to overhaul operations at Baita
Plai by undertaking a comprehensive review of the geology of the project and
the mining strategy. This will include the generation of a new mine plan,
supported if necessary, by a drilling programme to further inform the mining
studies. To ensure that there is an optimal outcome from this review it has
been deemed prudent to undertake a temporary suspension of operations,
currently expected to last for up to three months. Vast’s decision to
commence this work is underpinned by its confidence in its ability to realise
significant value from the sale of the diamonds recently returned to the
Company by way of Settlement Deed. The Company also notes that this review
will also include reviewing the existing plan to restart activities at its
Manaila-Carlibaba project in Romania during the second half of 2025 and is in
ongoing associating discussions with potential offtake partners.

**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