Placing to raise £2,000,000

Vast Resources plc, the AIM-listed mining company, announces that it has raised gross proceeds of £2,000,000 by way of a placing for 1,111,111,111 new ordinary shares of 0.1p in the Company (“Ordinary Shares”) (the “Placing”) at a price of 0.18p per new Ordinary Share. The Placing, which will close in two tranches as set out below, was undertaken by the Company’s joint broker, Axis Capital Markets Ltd (“Axis”).

The net cash raised from the Placing will be used:

For repayment of US$1 million of debt from Alpha and Mercuria in order to secure an extension of their loans, and so enable the Company to receive diamond proceeds to extinguish their and other outstanding debts.

To continue the operational and technical due diligence prior to resuming operations at Baita Plai mine and reopening Manaila mine as part of the ongoing review of the Company’s asset base and for the purpose of completing new offtake finance arrangements and/or agreements with new joint venture partners.

To boost the Company’s cash position prior to the finalisation of the Company’s annual accounts while the Company awaits proceeds from the sale of the Historic Diamond parcel from the 17 November tender.

Admission & Total Voting Rights

Application will be made to AIM for the new Ordinary Shares to be issued pursuant to the Placing, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM and it is expected that Admission will become effective and dealing will commence on or around 29 October 2025 (the “First Admission”) and on or around 6 November 2025 (the “Second Admission”).

Following the First Admission, ceteris paribus, the total issued share capital of the Company will be 4,415,492,276 Ordinary Shares and following the Second Admission the total issued share capital of the Company will be 4,997,575,609 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury and accordingly the above figures of 4,415,492,276 and 4,997,575,609 may then be used by shareholders, on the First and Second Admission dates respectively, as the denominator for the calculations by which they will determine if they are required to notify their interest in Vast under the FCA's Disclosure and Transparency Rule.

For further information, please visit the Company’s website at www.vastplc.com or contact: