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Development Overview:

The production summary should be read in concert with the development initiatives underway in Romania and Zimbabwe. The purpose of these development initiatives is to increase and optimise production, lower operating costs and build a portfolio of long term sustainable mining operations.

Manaila Expansion & Regional Metallurgical Complex Romania

• 18-hole drill programme for 2,200 metres completed at the Carlibaba prospect located adjacent to the current Manaila open pit

• Results from first phase of 1,000 metre drilling programme at Carlibaba confirmed the mineralised zones and geological structures as expected

• Assayed values appear to support the development of a second open pit operation at Manaila with the construction of a metallurgical processing facility on site, thereby significantly reducing the cost of ore transport incurred at the current operation

• For Phase 2 drilling, a total of nine surface drill-holes are now completed totalling a further 1,200 metres of core

• The phase 2 drilling intersected the defined mineralised zones identified from historic drilling and the Phase 1 drilling at depth and serve to verify the continuation of the zones at depth

• In conjunction with the significant data obtained from historic sources the data is being collated and modelled in-house by Vast and will result in a JORC compliant mineral resource for Manaila being reported in due course now that Phase 2 drilling is completed

• Commencement of soil and rock sampling activities at Piciorul Zimbrului and Magura Neagra licences underway - exploration licences will be applied for once prospecting work is complete

Faneata Tailings Facility ("Faneata") Romania

• Application has been made for an exploitation right over the tailings dam in anticipation of positive feasibility results

• However, in view of the likelihood of the award of an association licence for Baita Plai, options are being re-assessed regarding priority use of the Baita processing

facilities which may result in a postponement of the exploitation of the tailings dam

Pickstone-Peerless & Giant Gold Project Zimbabwe

• Construction of sulphide plant progressing - expected to be completed by the end of December 2017

• Significant increase in installed primary milling capacity anticipated once sulphide plant is commissioned to 35,000 tonnes per month from the current ~22,800 tonnes per month

• Mill grade expected to increase from ~2.31g/t gold (`Au`) to between 3.00g/t Au and 4.00g/t Au over a 6 to 9-month period as higher-grade sulphide ore is mined and processed, resulting in a significant increase in production

• Evaluation of the Giant Gold Project - located 28km from Pickstone-Peerless, which has a current JORC-compliant inferred resource of 500,000oz of gold, is ongoing

• Progress has been made in relocating artisanal miners from the Giant Gold Project licence area

Roy Pitchford, Chief Executive of Vast, commented:
"It is pleasing to be able to report improved quarterly production statistics as the Company strives to become overall cash generative. It is of equal importance that our development initiatives at both Manaila, namely the drilling programme at Carlibaba ahead of the proposed second open pit and new metallurgical complex, and Pickstone-Peerless, specifically the advancement of the sulphide plant, have both made considerable progress. This work is a crucial component of long term strategy to become a profitable mid-tier producer.

"Separately, the progress on the Baita Plai association licence and the anticipation of recommencing mining and processing operations at this mine during the current quarter are both encouraging and we will continue to report of developments as appropriate."

Production Statistics

September 2017 Quarterly Production Summary

Notes:

1. March 2017 Quarter: Tonnes mined and milled have been converted to dry tonnes. Previously reported: wet tonnes mined of 21,901 and wet tonnes milled of 20,291

2. December 2016 Quarter: Tonnes mined and milled have been converted to dry tonnes. Previously reported: wet tonnes mined of 25,245 and wet tonnes milled of 29,776

Quarterly Conference Call

Roy Pitchford, Chief Executive of Vast, will host a conference call for shareholders at 11.00 a.m. today, 16 October 2017.

To participate in this conference call, please dial 0808 109 0701, or +44 (0) 20 3003 2701 if you are calling from outside of the UK, and enter participant code 8748114# when prompted to do so. Please note that all lines will be muted except for Vast`s management, however the Company invites shareholders to submit questions to its public relations adviser, St Brides Partners Ltd, ahead of the call via email to shareholderenquiries@stbridespartners.co.uk or through the online chat function.

To access the online chat function, please use the link below and log in as a participant using the event number 950 754 266 followed by the password, `Vast`:

https://sbmf.webex.com/sbmf/onstage/g.php?MTID=eb995e68fad2ab36bfaa6abd079336562

On the right-hand side of the screen you will find an option to submit questions during the call. The Q&A function will only be made live once the call has commenced.

The management team will strive to answer as many questions as possible during the call. A recording of the call will also be made available on the Company`s website.

If you have any problems accessing the call, please contact St Brides Partners Ltd on shareholderenquiries@stbridespartners.co.uk or call +44 (0) 20 7236 1177.

A copy of the presentation will also be uploaded to the Research, Media & Presentations page of the website at www.vastresourcesplc.com shortly before the call commences.

Competent Person`s Review:
This announcement has been reviewed by Mr Craig Harvey, Chief Operating Officer at Vast, and a member of the Geological Society of South Africa and the Australian Institute of Geoscientists. Mr Harvey meets the definition of a "qualified person" as defined in the AIM Note for Mining, Oil and Gas Companies.

-ENDS-

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

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").

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

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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