VAST RESOURCES PLC

Earnings Release • Nov 23, 2020

National Storage Mechanism | Additional information

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

23 November 2020

Vast Resources plc

(‘Vast’ or the ‘Company’)

First commercial sale of concentrate confirmed at Baita Plai

Vast Resources plc, the AIM-listed producer & development company, is pleased to report that the first commercial sale of concentrate produced at its Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania is expected to conclude on Wednesday 25 November.

The Company received confirmation over the weekend, from Mercuria, the Company’s offtake partner, that the sale will conclude on this date, following a delay from the previously anticipated schedule, due to availability of the nominated independent technical inspectors who are required to be present on site on behalf of the buyer in order to release the shipment.

**ENDS**

For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:

Vast Resources plc Andrew Prelea - CEO Andrew Hall	www.vastplc.com +44 (0) 20 7846 0974
Beaumont Cornish - Financial & Nominated Adviser  Roland Cornish  James Biddle	www.beaumontcornish.com +44 (0) 020 7628 3396
SP Angel Corporate Finance LLP – Joint Broker Richard Morrison Caroline Rowe	www.spangel.co.uk +44 (0) 20 3470 0470
Axis Capital Markets Limited – Joint Broker Richard Hutchison	www.axcap247.com +44 (0) 20 3206 0320
St Brides Partners Limited 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”).

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania 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 an 80% interest in 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 was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.