REG-Significant Further Progress on Baita Plai Association Licence <Origin Href="QuoteRef">VAST.L</Origin>

Vast ResourcesAnnouncement

18/10/2017 07:00

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

18 October 2017
Vast Resources plc
("Vast" or "the Company")

Significant Further Progress on Baita Plai Association Licence

Vast Resources plc, the AIM-listed mining company with operations in Romania
and Zimbabwe, is pleased to announce significant progress in connection with
finalisation of the Baita Plai association licence, relating to the previously
producing Baita Plai Polymetallic Mine in Romania. 

Further to the selection of its 80% subsidiary, African Consolidated Resources
SRL (AFCR) as announced on 30 August 2017, AFCR has been advised by letter
that a board meeting of Baita SA was concluded on 16 October requesting its
shareholder - the Ministry of Economy - to approve the association on the
licence for the exploitation and processing of the polymetallic ore from the
Baita Bihor SA exploitation perimeter, which contains the Vast Resources 80%
owned Subsidiary AFCR Polymetallic Mining assets in Baita Plai, in compliance
with all the current legal provisions. 

The letter continues by saying that the legal term for the shareholder's
approval is 30 days but may be shorter; that on receipt of such approval AFCR
and Baita SA shall lodge a "joint application" to Romania's National Agency
for Mineral Resources ("ANRM"); and that upon the receipt of the preliminary
agreement from ANRM "the association agreement will be signed in accordance
with the agreed draft contract".

Baita SA also added in its letter, "We assure you that Baita SA will give all
the necessary support to complete the association operation under the 999/1999
Exploitation Concession License of the polymetallic ore."

A further announcement will be made in due course.

**ENDS**

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

 Vast Resources plc Roy Pitchford (Chief Executive Officer)                         www.vastresourcesplc.com +44 (0) 20 7236 1177    
 Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle       www.beaumontcornish.com                          
                                                                                    +44 (0) 020 7628 3396                            
                                                                                                                                     
 Brandon Hill Capital Ltd - Joint Broker Jonathan Evans                             www.brandonhillcapital.com +44 (0) 20 3463 5016  
 Peterhouse Corporate Finance Ltd - Joint Broker Martin Lampshire and Fungai Ndoro  www.pcorpfin.com +44 (0) 20 7469 0930            
 St Brides Partners Ltd Susie Geliher Charlotte Page                                www.stbridespartners.co.uk                       
                                                                                    +44 (0) 20 7236 1177                             

The 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 ("MAR").
This announcement is distributed by Nasdaq Corporate Solutions on behalf of
Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Vast Resources plc via Globenewswire