Aprelevka CPR, Presentation & Loan Update

Loan Facility Repayment Deferral

Vast Resources plc, the AIM quoted mining company, is pleased to announce, further to its announcement on 22 December 2025 in respect of, inter alia, its conditional share purchase agreement ("SPA") with Bay Square Pacific Ltd ("Bay Square" or the "Seller"), that it has today published the Competent Person's Report ("CPR") on the Aprelevka Assets authored by Caracle Creek International Consulting (Proprietary) Limited ("CCIC"), which is available at: http://www.rns-pdf.londonstockexchange.com/rns/9972Q_2-2026-1-29.pdf

As well as a presentation in relation to the proposed acquisition of Gulf International Minerals Limited ("Gulf") and its interest in the Aprelevka Assets (the "Presentation"). The Presentation can be viewed at: http://www.rns-pdf.londonstockexchange.com/rns/9972Q_1-2026-1-29.pdf

The CPR and the Presentation are also available on the Company's website at https://www.vastplc.com/

Loan Facility Update

Further to the announcement of 22 December 2025, Vast confirms that it is in discussions with A&T Investments SARL ("Alpha") and Mercuria Energy Trading SA ("Mercuria") (together the "Creditors") in respect of an extension of the terms of their respective loans maturing on 30 January 2026. Such discussions are progressing constructively and the Board are confident that its creditors will support the Company through to completion of the Proposed Transaction, however, there can be no guarantee as to the outcome of these discussions. The Company will provide further updates to the market as and when appropriate.

The Company intends to use the revenue from upcoming diamond sales, together with proceeds from the placing of approximately £7.5 million expected to be undertaken in conjunction with the proposed acquisition of Gulf, and proceeds from potential new offtake finance agreements and / or wider funding arrangements, to repay the Creditors in full.

Further Summary Resource Information on the Aprelevka Assets

As previously announced, although no JORC (2012) compliant resource can be stated by CCIC, various historical and NAEN Code (2013) compliant mineral resource estimates ("Historical MREs") provide a significant range of mineral potential for the deposits, which are summarised in the table below to demonstrate the exploitation and exploration potential at the various projects.

Estimated Mineral Inventory Ranges

It is noted that while the various Historical MREs have provided CCIC with a solid basis to undertake a review for the purposes of authoring the Tajikistan CPR, it is recognised that the limitations on data verification have yet to be resolved in additional workstreams and so the resources reviewed cannot be considered to be reported in alignment with any of the CRIRSCO family of reporting codes. However, it is noted that the above estimated mineral inventory ranges compiled by CCIC are supported by, inter alia, historical estimates compiled by Formin S.A. prepared in 2024 (the "Formin Estimates"). In CCIC's view, the Formin Estimates have been undertaken in alignment with industry best practice and by a suitably experienced person (Mr Vlad Andrei Negru, who has more than 12 years' experience in mineral resource estimation, and is considered a 'Certified Person' by the National Agency for Mineral Resource in Romania).

Recent Production from the Aprelevka Assets

In addition, the Company announces the following recent production figures for the Aprelevka Assets relating to operations between 2023 to 2025. These figures are intended to illustrate recent mining and processing activity and do not represent a reconciliation to mineral resources. It is noted that the following figures are provided for contextual purposes only.

Mine feed and grades for the four hard rock mines and Kansai Tailings - 2023 to November 2025

It is noted that mining tonnages and grades reflect ex-mine material movements during the stated periods and exclude stockpile and run-of-mine inventory movements. Reported grades represent operational mine call grades and may differ from Mineral Resource model grades due to mining selectivity, dilution, ore loss, and short-term grade control practices.

Furthermore, the Company announces the following data summarising annualised process plant feed, head grades, and recovered metal for the period between 2023 and 2025. Plant feed comprises a blend of mined material and reprocessed tailings, and production figures reflect doré output from the process plant. The data are presented to provide an overview of recent processing performance and are not intended to represent mineral resource reconciliation or life-of-mine production.

Process Plant Feed and Grade - 2023 to 2025

In 2025, total mill feed increased significantly to prior recent years, following the planned introduction of higher volumes of lower-grade tailings material. This tailings feed replaces a portion of mined feed and represents a low-cost processing opportunity, leveraging existing infrastructure while reducing unit mining costs. Although average head grades decrease, overall gold and silver production remained strong due to higher throughput and improved plant utilisation.

This approach also allows mining operations to focus on higher-value areas of the orebody, optimising mining productivity, equipment utilisation, and overall production efficiency. The use of tailings material as supplemental feed is an operational strategy and does not affect the underlying Mineral Resource estimates, which are reported in the table of Estimated Mineral Inventory Ranges.

Subject to completion of the Proposed Transaction, it is part of the Company's near-term work programme to complete the technical work necessary to provide JORC-compliant resource estimates as well as to ensure all reporting going forward is consistent with the JORC standard.

Qualified / Competent Person Statement

The resource information in this announcement has been reviewed by Dr Philip John Hancox, a Competent Person who is a member in good standing of the South African Council for Natural Scientific Professions (No. 400224/04) as well as a Member and Fellow of the Geological Society of South Africa and the Society of Economic Geologists. Dr Hancox is Senior Geologist and Director of Caracle Creek International Consulting (Proprietary) Limited, South Africa, and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration. A site visit to the properties was undertaken in late June of 2025.

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