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

20 December 2021

Vast Resources plc

("Vast" or the "Company")

Response to articles published by the Press in Zimbabwe

Vast Resources plc, the AIM-listed mining company, notes the release of certain articles published by the Zimbabwean online press on 19 December 2021.

The Company wishes to state that it has at no stage been contacted or consulted by the author of the articles and did not make any comment in relation to these articles and does not agree with the conclusions.

Vast Resources PLC and its subsidiaries have been and remain in dialogue with the highest level of Government in Zimbabwe and the Company remains confident of a successful outcome.  

The Company looks forward to providing further updates at the appropriate time.

**ENDS**

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

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 100% 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 Licence 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.

In Botswana, the Company is focused on finalising the acquisition of the Ghaghoo Diamond Mine, which will be conducted through a joint venture between the Company and Botswana Diamonds plc and will provide the Company with a 90% interest in a high quality and previously producing diamond asset benefiting from world-class infrastructure and capable of generating material revenues in the near term.