Vast Resources PLC (VAST.L) Appointment of Underground Mine Manager

Vast Resources plc, the AIM-listed mining company, is pleased to announce the appointment of Rubén Fernández as Underground Mine Manager at its Baita Plai Polymetallic Mine (“Baita Plai” or the “Mine”) in Romania.

Rubén, who starts his role today, is a highly experienced mining professional who has specialised in supervising underground mining operations for over ten years. In his role as Underground Mine Manager, Rubén will be a key component of the new full-time expert management team on site at Baita Plai as the new upgraded mine plan is implemented and successfully executed over the course of 2021.

Rubén has worked for numerous mining companies during his career including majors such as Lundin Gold, Fresnillo and Tahoe Resources, and across numerous jurisdictions including Europe and Central and South America. Most recently, Rubén led the underground mine construction and ramp up phases at Lundin Gold’s Fruta del Norte Mine in Ecuador, a 3,800 tonne per day underground gold mine with estimated annual gold production of 350,000 ounces. In leading this project, Rubén delivered mine construction and first stage ramp-up to 2,200 tonnes per day on time and on budget, training the underground workforce to a high level and completing this without a Lost Time Injury (LTI).

Rubén holds an MSc Mining Engineering from Madrid School of Mines (Universidad Polytechnic de Madrid), a Masters degree in Project Management from EAE Business School and is a registered Spanish Professional Mining Engineer.

Andrew Prelea, Chief Executive Officer of Vast Resources PLC, commented:

“Rubén has a proven track record of overseeing and implementing ramp up phases at numerous underground mines and this experience will be invaluable as we realise the upgraded mine plan that we presented to shareholders at the end of March.

“Importantly, Rubén brings with him the requisite skills and technical expertise to implement the increased mechanisation required for the new mine plan. These skills and technical profiency are now vital to the successful ramp up of the mine as we move away from a single LHD in the main decline to a more mechanised method of mining. Rubén’s extensive experience in several world-class mining operations makes him ideally qualified for this role and I look forward to working with him and our colleagues on the Baita Plai management team as we deliver our stated objectives with the new mine development plan.”

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 License 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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