Results of Open Offer and General Meeting

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES OF AMERICA AND NO SECURITIES HAVE BEEN OR WILL BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT 1933, AS AMENDED (THE "SECURITIES ACT") OR UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION IN THE UNITED STATES OF AMERICA NOR WILL THEY QUALIFY FOR DISTRIBUTION UNDER ANY OF THE RELEVANT SECURITIES LAWS OF CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA, NOR HAS ANY PROSPECTUS IN CONNECTION WITH THE SECURITIES BEEN LODGED WITH OR REGISTERED BY THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OF AMERICA. THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OF AMERICA.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT FOR THE PURPOSES OF THE PROSPECTUS RULES AND HAS NOT BEEN, AND WILL NOT BE, APPROVED BY, OR FILED WITH, THE FINANCIAL CONDUCT AUTHORITY. IT DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF ANY OFFER OF OR INVITATION TO BUY OR SUBSCRIBE FOR, ANY SECURITIES, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, OR ACT AS AN INDUCEMENT TO ENTER INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE APPLICABLE SECURITIES LAWS IN SUCH JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION REGARDING ANY SECURITIES. INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS ON THE INFORMATION IN THE CIRCULAR TO BE PUBLISHED BY THE COMPANY AND ANY SUPPLEMENT THERETO.

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

1 August 2016
Vast Resources plc
("Vast" or the "Company")

Results of Open Offer and General Meeting

On 14 July 2016, Vast Resources plc (AIM: VAST), the AIM listed mining company with operations in Romania and Zimbabwe, announced an open offer to raise up to £1.0 million (the "Open Offer") and notice of a General Meeting to be held on 30 July 2016 (the "General Meeting").

All resolutions proposed at the General Meeting, as set out in the circular dated 14 July 2016, were duly passed.

Accordingly, the Company is pleased to announce the results of the Open Offer, which closed for acceptances at 11.00 a.m. on 29 July 2016. Valid acceptances were received in respect of 181,992,582 new ordinary shares of 0.1 pence each ("Ordinary Shares") ("Open Offer Shares") representing 51.87 per cent. of the maximum number of ordinary shares available under the Open Offer.  Gross proceeds raised from the Open Offer were £518,678.

All Qualifying Shareholders who applied for Open Offer Shares under the Open Offer and associated Excess Application Facility will receive the full number of Open Offer Shares for which they applied.

In accordance with the terms of the Open Offer, the Company will also issue 181,992,582 warrants each granting the right to one Ordinary Share exercisable at 0.5 pence and expiring on 30 June 2019.

Roy Pitchford, Chief Executive of Vast Resources, commented:

"We are absolutely delighted with the support demonstrated by our existing shareholders, in what remains a challenging market for fund-raising in the natural resource sector.

"The Board is particularly pleased at the high level of subscription for the Open Offer and that the majority of shareholders have been able to participate and have participated on the same terms as the recent Placing.

"The strength of the demand from our shareholders is a pleasing endorsement of the Company's strategy of continuing with its current investment in Zimbabwe whilst developing new mining operations in Romania, a country richly endowed with mineral resources, having no exchange controls or local ownership requirements and benefitting from the protection afforded by membership of the European Union.

"We thank shareholders for their continuing support and look forward to an exciting future."

Application has been made for 181,992,582 New Ordinary Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission and commencement of dealings in the 181,992,582 New Ordinary Shares will commence at 8.00 a.m. on 2 August 2016.  On Admission, the issued share capital of the Company will consist of 3,055,029,635 Ordinary Shares.  The Company holds no Ordinary Shares in treasury, therefore the total number of voting rights in the Company is 3,055,029,635 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

**ENDS**

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

Vast Resources plc
Roy Pitchford (Chief Executive Officer)	[phone] - Office Romania  [phone] - Mobile Romania  [phone] - Mobile UK
Roy Tucker (Finance Director)	[phone]   [phone]
Strand Hanson Limited - Financial & Nominated Adviser  James Spinney  James Bellman	www.strandhanson.co.uk   [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 Charlotte Heap Susie Geliher	www.stbridespartners.co.uk   [phone]

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vast Resources plc via Globenewswire

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