15 September 2025
Vast Resources plc
("Vast" or the "Company")
Operational Update
Vast Resources plc, the AIM quoted mining company, is pleased to provide an update, further to the announcement of 14 July 2025, on the diamond beneficiation and sale process and progress achieved at its operating sites in Romania.
Diamonds
Based on current estimates, initial Public and Private Tenders of the diamond parcels are planned to commence this month and continue through October.
As previously reported, over recent months the Company has been continuing to work with specialist consultants to further develop new cleaning and sorting processes specific to these eluvial stones, which are unique in character and require several layers of cleaning and preparation to maximise their value at tender.
As previously announced, the intention of the Company is to be directly and indirectly involved in the entire value-chain, where possible, in order to maximise returns for shareholders. This is considered by the Company to be a unique opportunity to most effectively realise value from the long-awaited parcels from the historic settlement and could open further opportunities for the Company in the future. In opting to follow this route to sale, the Company acknowledges that the cost of achieving materially improved financial recoveries requires additional time to process the stones thoroughly.
The results of the bespoke five-stage cleaning process has greatly improved the value of the parcels and example photos of various types of stones during the various stages of the beneficiation process will be shared on the Company's X channel (x.com/vast_resources) and on LinkedIn (linkedin.com/company/vast-resources/), to provide a visual representation of what has been achieved to date.
The Company will provide further updates to the market as appropriate.
Romania
Furthermore, the Company can also advise that, further to the announcement of 12 June 2025, the Company continues to undertake a comprehensive review of the geology of the overall project and the mining strategy at Baita Plai. As previously reported, this has necessitated a temporary suspension of mining operations which remains in place at the current time. The technical review is being expanded to cover both Baita Plai and also Manaila, in parallel with the Company's now advanced discussions with potential JV partners and off-take financiers. Work to date is yielding positive results and the Board is encouraged as to the future production potential of both mining complexes. The Company expects to provide further updates on this process in Q4 2025 as the Company works towards restarting operations at both mining operations.
**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 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.
