REG-Placing and Subscription to raise £2,712,000

Vast ResourcesAnnouncement

16/06/2025 07:00

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

16 June 2025

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

Placing and Subscription to raise £2,712,000

Vast Resources plc, the AIM-listed mining company, announces that it has
raised gross proceeds of £2,712,000 by way of a subscription for 60,571,428
new ordinary shares of 0.1p in the Company (“Ordinary Shares”) (the
“Subscription”) and a placing (the “Placing”) of 714,285,713 new
Ordinary Shares at a price of 0.35p per new Ordinary Share (together, the
“Fundraise”). The Placing, which will close in two tranches as set out
below, was undertaken by the Company’s joint broker, Axis Capital Markets
Ltd (“Axis”).

The net cash raised from the Fundraise will be used for the primary
beneficiation of the diamond parcels, which is expected to significantly
enhance their value; providing financial support for the Company’s new
technical team to commence working on the current projects accelerate
implementation of the comprehensive technical review announced on 12 June
2025; and for general working capital.

Admission & Total Voting Rights

Application will be made to AIM for the new Ordinary Shares to be issued
pursuant to the Subscription, which will rank pari passu with existing
Ordinary Shares, to be admitted to trading on AIM and it is expected that
Admission will become effective and dealing will commence on or around 19 June
2025 (the “First Admission”)

Application will be made to AIM for the 714,285,713 new Ordinary Shares to be
issued pursuant to the Placing (the “Placing Shares”), which will rank
pari passu with existing Ordinary Shares, to be admitted to trading on AIM in
two tranches. It is expected that admission will become effective and dealing
will commence in respect of 341,696,428 Placing Shares on or around 20 June
2025 (the “Second Admission”) and in respect of 372,589,285 Shares, being
the balance of the Placing Shares, on or around 2 July 2025 (the “Third
Admission”).

The Subscription and the two tranches of the Placing are conditional on the
First, Second and Third Admissions, respectively, as detailed above.

Following the First Admission, ceteris paribus, the total issued share capital
of the Company will be 3,172,178,785 Ordinary Shares; following the Second
Admission the total issued share capital of the Company will be 3,513,875,213
Ordinary Shares; and following the Third Admission the total issued share
capital of the Company will be 3,886,464,498 Ordinary Shares. The Company does
not hold any Ordinary Shares in Treasury and accordingly the above figures of
3,172,178,785, 3,513,875,213 and 3,886,464,498 may then be used by
shareholders, on the First, Second and Third Admission dates respectively, as
the denominator for the calculations by which they will determine if they are
required to notify their interest in Vast under the FCA's Disclosure and
Transparency Rule.

**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