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Atlas Special Opportunities LLC – Exercise of Conversion Rights & Total Voting Rights

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Vast Resources PLC
Vast Resources PLC

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

13 May 2022

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

Atlas Special Opportunities LLC – Exercise of Conversion Rights
Total Voting Rights

Vast Resources plc, the AIM-listed mining company, announces that further to the announcement made on 3 May 2022 regarding the non legally binding verbal assurance from Atlas Special Opportunities LLC (“Atlas”) of no further conversions the Company has received a notice from Atlas that it elects to convert Bonds of USD 500,000 nominal value in accordance with the terms of the Bond Issuance Deed announced on 24 October 2019. The Company can confirm that it has satisfied the exercise of the Conversion Rights through the issue of 151,260,080 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.27 pence per Ordinary Share.

The Company remains confident about the finalisation of the legal documentation process for the refinancing of the outstanding bonds currently $4,150,000.

Application will be made to the London Stock Exchange for 151,260,080 new Ordinary Shares to be admitted to trading on the AIM Market with admission expected to occur on or around 6 May 2022 (‘Admission’). The issued new Ordinary Shares will rank pari passu in all respects with existing Ordinary Shares.

Following Admission of the new Ordinary Shares the issued ordinary share capital of Vast will consist of 760,512,143 Ordinary Shares. There are no Ordinary Shares held in treasury. 760,512,143 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change in their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

**ENDS**

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

Vast Resources plc
Andrew Prelea (CEO)
Andrew Hall (CCO)

www.vastplc.com
+44 (0) 20 7846 0974

Beaumont Cornish – Financial & Nominated Advisor
Roland Cornish
James Biddle

www.beaumontcornish.com
+44 (0) 20 7628 3396

Shore Capital Stockbrokers Limited Joint Broker
Toby Gibbs / James Thomas (Corporate Advisory)

www.shorecapmarkets.co.uk
+44 (0) 20 7408 4050

Axis Capital Markets LimitedJoint Broker
Kamran Hussain

www.axcap247.com
+44 (0) 20 3206 0320

St Brides Partners Limited
Susie Geliher
Charlotte Page

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

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

The Company's Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.


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