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Update on Blueberry Project

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

Update on Blueberry Project

Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe, is pleased to announce an update relating to the financing of the Blueberry Project, located in the ‘Golden Quadrilateral’ of Western Romania (“the Blueberry Project”), in which the Company recently acquired a 29.41% interest through Vast’s newly formed subsidiary EMA Resources Ltd (‘EMA’).

Further to the announcement of 15 August 2018, the vendors of the Blueberry Project have agreed an extension for the procurement of funds by EMA as detailed in the aforementioned announcement, to 15 September 2018.  Vast has received an indicative term sheet with institutional investor which it is progressing to definitive documentation.  The Company will make further updates as appropriate.

Further to the drilling update released by Vast on 24 August 2018, the Board is pleased to report that annual drilling results have been submitted to ANRM, Romania’s National Agency for Mineral Resources, on schedule.  These annual drilling results are a key aspect of the final exploration report which is due to be lodged to ANRM by 3 October 2018, which under the Romanian mining law, will provide EMA with the right to be granted an exploitation licence over the Blueberry Project.  The subsequent application for the exploitation licence must be submitted by 31 December 2018 and accompanied by a feasibility study, development plan, environmental impact and rehabilitation study and a social impact assessment. 

Andrew Prelea, Chief Executive of Vast, commented:

“I am delighted with both the strong support from Vast Shareholders and with the funding intention of the new institutional investor for this opportunity at Blueberry.  I look forward to providing further updates shortly.”

**ENDS**

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

Vast Resources plc
Andrew Prelea (Chief Executive Officer)
www.vastresourcesplc.com
+44 (0) 20 7236 1177
Beaumont Cornish - Financial & Nominated Adviser 
Roland Cornish 
James Biddle
www.beaumontcornish.com
+44 (0) 020 7628 3396
Brandon Hill Capital Ltd – Joint Broker
Jonathan Evans
www.brandonhillcapital.com
+44 (0) 20 3463 5016
SVS Securities Plc – Joint Broker 
Tom Curran
Ben Tadd
www.svssecurities.com
 +44 (0) 20 3700 0100
 

St Brides Partners Ltd
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”).

Quick facts: Vast Resources PLC

Price: -

Market: AIM
Market Cap: -
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