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

23 October 2025

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

Placing to raise £2,000,000

Vast Resources plc, the AIM-listed mining company, announces that it has raised gross proceeds of £2,000,000 by way of a placing for 1,111,111,111 new ordinary shares of 0.1p in the Company (“Ordinary Shares”) (the “Placing”) at a price of 0.18p per new Ordinary Share. 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 Placing will be used:

• For repayment of US$1 million of debt from Alpha and Mercuria in order to secure an extension of their loans, and so enable the Company to receive diamond proceeds to extinguish their and other outstanding debts.
  
  
• To continue the operational and technical due diligence prior to resuming operations at Baita Plai mine and reopening Manaila mine as part of the ongoing review of the Company’s asset base and for the purpose of completing new offtake finance arrangements and/or agreements with new joint venture partners.
  
  
• To boost the Company’s cash position prior to the finalisation of the Company’s annual accounts while the Company awaits proceeds from the sale of the Historic Diamond parcel from the 17 November tender.
  
  

Admission & Total Voting Rights

Application will be made to AIM for the new Ordinary Shares to be issued pursuant to the Placing, 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 29 October 2025 (the “First Admission”) and on or around 6 November 2025 (the “Second Admission”).

Following the First Admission, ceteris paribus, the total issued share capital of the Company will be 4,415,492,276 Ordinary Shares and following the Second Admission the total issued share capital of the Company will be 4,997,575,609 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury and accordingly the above figures of 4,415,492,276 and 4,997,575,609 may then be used by shareholders, on the First and Second 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 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.