Vast Announces $5,000,000 Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE:VST) is pleased to
announce that it intends to complete a non-brokered private placement financing
for gross proceeds of up to $5,000,000.


In connection with the private placement, Vast will sell up to 100,000,000
common shares (the "Shares") at a price of $0.05 per Share for gross proceeds of
$5,000,000. 


Closing of the financing is subject to receipt of applicable regulatory
approvals including approval of the TSX Venture Exchange. The securities
issuable in connection with the financing will be subject to resale restrictions
for a period of four months plus one day from the closing date. 


The Company intends to use the net proceeds of the financing for costs
associated with the exploration of the Qara Dagh Block in the Kurdistan Region
of Iraq and general working capital for the next phase of exploration. 


About Vast Exploration

Vast Exploration Inc. is an independent oil and gas company. Vast is focused on
the exploration and development of its principal asset, the Qara Dagh Block, in
the Kurdistan region of Iraq. The Qara Dagh Block lies on trend with existing
discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq,
which contains several large fields including the super-giant Kirkuk field.


Regulatory Statements

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the terms of the
financing, the planned use of proceeds, and receipt of all regulatory approvals.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: general business, economic, competitive, geopolitical and social
uncertainties; the actual results of exploration activities; regulatory risks;
risks inherent in foreign operations; and other risks of the oil and gas
industry. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.

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