Zinc Update - Manaila Polymetallic Mine in Romania

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
21 December 2016
Vast Resources plc
("Vast" or the "Company")

Zinc Update - Manaila Polymetallic Mine in Romania

Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe, is pleased to report an update on zinc sales and production from its Manaila Polymetallic Mine in Romania ("Manaila").

The Company commissioned a zinc concentrate flotation line in September 2016, providing Manaila with a second product and revenue stream in addition to its copper concentrate.  During the past three months, work has been undertaken to improve the grade of the zinc concentrate, which has resulted in Manaila now consistently producing a concentrate in excess of 30% zinc ("Zn").  Sales of zinc concentrate have commenced with a sale of 200 dry metric tonnes ("DMT") in mid-December 2016. 

With Manaila currently producing approximately 80 DMT Zn per month, the Company's primary objective is to increase zinc production by up to 85% by the end of H1 2017.  In conjunction with increasing production, the Company is also confident that on-going work aimed at enhancing the zinc concentrate grade will achieve a concentrate of approximately 45% Zn.

The Company has also completed the commissioning of the third flotation line at Manaila with the objective of increasing copper production in Q1 2017.  As a consequence, Manaila will now have two copper concentrate flotation lines and a zinc concentrate flotation line.  A gravity recovery facility is also due to be installed for the purpose of recovering the significant gold and silver contained in the tailings, which will generate a third revenue stream.  Installation is expected to commence in January 2017 and the Company anticipates that this will be operational in H2 2017.   

Roy Pitchford, Chief Executive of Vast, commented:
"The Manaila mine is now really bearing fruit for Vast - the lessons learnt over the past 12 months have been implemented and the mine is now generating cash flow from both copper and zinc concentrate sales.  We are encouraged by the performance of Manaila over the past three months and believe that this upward trajectory will continue through the adoption of initiatives to both increase production and improve grade.  In tandem with this, we will also be installing a new gravity recovery facility to separate the significant silver and gold currently reporting in the tailings, and we believe this will be a further considerable boost to Manaila's overall performance as a long-term profitable mining operation." 

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
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 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").

**ENDS**

Notes

Vast Resources plc 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.

With this strategy, Vast Resources commissioned two mining operations in 2015; the Manaila Polymetallic Mine in Romania and the Pickstone-Peerless Gold Mine in Zimbabwe.

The Company has a broad portfolio of additional exploration and development projects in Romania and Southern Africa with significant potential for exploitation in the mid- to long- term.  This includes the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.

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Source: Vast Resources plc via Globenewswire