Reserve Bank Approval for USD4 million Disposal...

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

30 May 2017
Vast Resources plc
("Vast" or "the Company")

Reserve Bank Approval for US$4 million Disposal of Non-Controlling
Interest in Zimbabwean Gold Projects

Vast Resources plc, the AIM-listed mining company with operations in Romania and Zimbabwe, is pleased to announce that it has now received approval of the assignment of 49.99 per cent. of Vast's loan account with Canape by the Reserve Bank of Zimbabwe ("RBZ") ensuring that the US$4 million payment from SSCG Africa Holdings Ltd and its group (SSA) can now be transferred to Vast.  This will complete the US$8 million financing announced on 30 January 2017 principally to advance the Company's core activities in Romania.

As announced on 22 March 2017, discussions are continuing concerning further transactions in relation to Sinarom Mining Group SRL (100% Vast), which could include the introduction of a joint venture partner and / or securing debt at the subsidiary company level to help increase production at both Manaila Polymetallic Mine and advance the newly acquired nearby Piciorul Zimbrului and Magura Neagra prospecting licences.

Roy Pitchford, Chief Executive Officer of Vast, commented:
"I am delighted to report the formal approval from RBZ for our disposal of a non-controlling interest in our Pickstone-Peerless Gold Mine and Giant Gold Project in Zimbabwe.  This transaction, together with the possible further transactions with Sinarom as referred to above, will provide us with the capital to move forward with our optimisation plans for our producing Manaila Polymetallic Mine and other interests in Romania. We believe this area will yield the best long term value opportunity for the Company without the need to dilute our shareholders. Importantly, we have also retained the controlling interest in our Zimbabwean projects and have exposure to the upside which these may deliver through our ongoing 25% economic interest."

**ENDS**

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

Vast Resources plc Roy Pitchford (Chief Executive Officer)	www.vastresourcesplc.com [phone]
Beaumont Cornish - Financial & Nominated Adviser (Nomad) Roland Cornish  James Biddle	www.beaumontcornish.com [phone]
Brandon Hill Capital Ltd - Joint Broker Jonathan Evans	www.brandonhillcapital.com [phone]
Peterhouse Corporate Finance Ltd - Joint Broker  Duncan Vasey	www.pcorpfin.com  [phone]
St Brides Partners Ltd Susie Geliher Charlotte Page	www.stbridespartners.co.uk  [phone]

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").

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Source: Vast Resources plc via Globenewswire