viewVast Resources PLC

Baita Plai Licence Update: Ministerial Agreement Obtained

/ Ticker: VAST / Index: AIM / Sector: MiningVast Resources plc

("Vast" or the "Company")22 June 2018

Vast Resources plc

Baita Plai Licence Update: Ministerial Agreement Obtained

, the AIM-listed mining company with operating mines in and , is pleased to announce that the agreement has been obtained from the Minister of Economy in relation to the Association Licence Agreement with , the holder of the Baita Plai Head Licence.  This is a milestone development in the Company's process towards being granted the right to mine at its 80% owned in , with the only outstanding item now being the procedure by which and the Company's 80% subsidiary, African Consolidated Resources SRL ("AFCR"), apply for formal approval by ("ANRM").  It is anticipated that this will be obtained in early .Vast Resources plcBaita SABaita SANational Agency for Mineral ResourcesRomaniaZimbabweBaita Plai Polymetallic MineRomaniaRomania'sJuly 2018

Obtaining the Minister's agreement, which was received at a meeting between the Company and the appropriate ministerial representatives, is the culmination of almost a year's activities which started in with the commencement of a competitive selection process intended to achieve the granting of the right to mine.  The Company was advised in of the successful selection of AFCR and work since then has been focussed on establishing the detailed terms of the Association Licence Agreement, finalisation of which was announced on .July 2017August 201730 May 2018

Andrew Prelea, Chief Executive of Vast, commented:

"Following this agreement from the Minister matters now lie with and AFCR to make the application for the final seal of approval from ANRM and I am confident that this last item should be dealt with quickly and without issue.  The importance of Vast receiving the right to mine at Baita Plai cannot be overstated - simply put, this will allow us to begin mining a 1.8Mt orebody with a copper equivalent grade of approximately 6%, which would transform our production profile.Baita SA

"We look forward to providing further updates as they occur."


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

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").


is an AIM listed mining and resource development company focussed on the rapid advancement of high quality brownfield projects and recommencing production at previously producing mines in .Vast Resources plcRomania

currently owns and operates the in , which was commissioned in 2015 and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area.  The Company's portfolio also includes an 80% interest in the in , where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.Vast ResourcesManaila Polymetallic MineRomaniaBaita Plai Polymetallic MineRomania

The Company also has interests in a number of projects in including a controlling 25% interest in the producing in .Southern AfricaPickstone-Peerless Gold MineZimbabwe

Andrew Prelea (Chief Executive Officer)Vast Resources plc
www.vastresourcesplc.com+44 (0) 20 7236 1177 

Roland Cornish   - Financial & Nominated Adviser Beaumont Cornish

James Biddle
+44 (0) 020 7628 3396www.beaumontcornish.com
 - Joint BrokerBrandon Hill Capital Ltd

Jonathan Evans
www.brandonhillcapital.com+44 (0) 20 3463 5016
- Joint Broker SVS Securities Plc

Tom CurranBen Tadd
www.svssecurities.com +44 (0)20 3700 0100 

Susie Geliher St Brides Partners Ltd

Charlotte Page
 www.stbridespartners.co.uk  +44 (0) 20 7236 1177

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: via Globenewswire

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