Vast Exploration Inc.

Vast Exploration Inc.

March 14, 2005 14:09 ET

Vast Provides Update On $3,000,000 Private Placement Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VAST EXPLORATION INC.

TSX VENTURE SYMBOL: VST

MARCH 14, 2005 - 14:09 ET

Vast Provides Update On $3,000,000 Private Placement
Financing

CALGARY, ALBERTA--(CCNMatthews - March 14, 2005) - Vast Exploration Inc.
(TSX VENTURE:VST) advises shareholders that it expects to close its
previously announced $3,000,000 non brokered private placement financing
shortly. The $3,000,000 will be raised through the issuance of a
combination of Units and flow through shares, with the possibility of
issuing up to 6,000,000 common shares of the Company if the private
placement consists entirely of the issuance of Units. Each Unit will
consist of one common share and one half common share purchase warrant.
Each whole warrant will entitle the holder to purchase one common share
at a price of $0.65 for a period of eighteen months from the closing
date. A portion of the financing will be completed through the issuance
of flow through shares at $0.60. The private placement offering is
subject to regulatory approval.

Vast Exploration Inc. is a junior oil and gas exploration and production
company focused on growth through acquisition, development, and
exploration. It recently announced the acquisition of a private energy
company in Alberta and currently has the right to earn up to 1875
hectares of gas rights from Canyon Creek Resources Ltd. Vast also has a
50% working interest in an additional 908 hectares of land located in
the Dollard area of SW Saskatchewan with oil and gas rights that are
held for five years.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Vast Exploration Inc.
    Don Parker
    President & C.E.O.
    (403) 514-8051
    The TSX Venture Exchange Does Not Accept Responsibility For The Adequacy
    Or Accuracy Of This Release.