Vista Gold

DENVER, Dec. 15, 2010 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") is pleased to announce that at the special meeting of shareholders of the Corporation held on December 15, 2010 (the "Meeting"), the shareholders of the Corporation approved a U.S.$33,733,500 private placement (the "Private Placement") of special warrants (the "Special Warrants") as more fully described in the Corporation's press releases of September 30, 2010, October 12, 2010 and October 22, 2010 and in the Notice of Special Meeting and Management Information and Proxy Circular mailed to shareholders in connection with the Meeting.

The Private Placement closed on October 22, 2010 and the gross proceeds of U.S.$33,733,500 were placed in escrow, pending approval of the Private Placement by the shareholders of the Corporation. The escrow agent will be instructed to release the full U.S.$33,733,500 and all interest accrued thereon to the Corporation and each of the 14,666,739 Special Warrants issued to investors as well as each of the 429,348 Special Warrants issued to the agents and finders that provided services in connection with the financing will be automatically exercised, for no additional consideration, for one common share and one common share purchase warrant of the Corporation.

The Corporation will use the proceeds from the Private Placement (i) to repurchase the U.S.$23 million principal amount of outstanding 10% senior secured convertible notes due March 4, 2011, (ii) to advance the Mt. Todd project, and (iii) for general corporate purposes.

Since the completion of the Private Placement, 10,870 Special Warrants and 21,739 compensation warrants issued in error to a finder have been cancelled. Accordingly, as part of the Private Placement, 429,348 Special Warrants and 478,262 compensation warrants were issued to agents and finders.

As part of the Private Placement, the Corporation agreed to use commercially reasonable efforts to list the warrants underlying the Special Warrants (the "Warrants") on the Toronto Stock Exchange (the "TSX") by February 23, 2011. The Corporation has applied to the TSX to list the Warrants and such listing is subject to the approval of the TSX. The TSX's approval of the listing of the Warrants will be subject to the Warrants being free trading, which will not occur before the later of: (a) February 23, 2011 and (b) the date that a registration statement under the U.S. Securities Act of 1933, as amended, (the "U.S. Securities Act") covering the resale of the Warrants is declared effective under the U.S. Securities Act.

The above-described securities have not been registered under the U.S. Securities Act or any state securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) or a person in the United States absent registration under the U.S. Securities Act or an applicable exemption from such registration requirements and in accordance with all applicable state securities laws of any state of the United States. This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of the above described securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as the release of the proceeds of the private placement by the escrow agent to Vista; the automatic exercise of the Special Warrants; Vista's future business strategy, competitive strengths, goals, operations, plans, and potential project development; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "intends", "plans", "anticipates", "will", and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty concerning Vista's ability to raise capital on favorable terms or at all; risks relating to fluctuations in the price of gold; risks related to repayment of debt; risks related to increased leverage; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; the inherently hazardous nature of mining-related activities; uncertainty concerning reserve and resource estimates; uncertainty concerning estimates of results based on such reserve and resource estimates; risks relating to completing metallurgical testing; uncertainty of future feasibility study results; risks relating to cost increases for capital and operating costs including the cost of power; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; and risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings "Uncertainty of Forward Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K, as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed on November 9, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and 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 statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185.

SOURCE Vista Gold Corp.

DENVER, Dec. 7, 2010 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista") (TSX & NYSE Amex Equities: VGZ) is pleased to announce that it has entered into a letter of intent ("LOI") with Midas Gold, Inc., a privately held company based in Spokane Valley, Washington ("Midas"), for the combination of the respective holdings of Vista and Midas in the Yellow Pine – Stibnite Mining District located in Valley County, Idaho (the "District").  The LOI is non-binding, except with respect to specified provisions, and the completion of the proposed combination will be subject to a number of conditions, including, but not limited to, the execution of definitive agreements, the completion of due diligence satisfactory to Vista and Midas, and the receipt of board and other approvals.

The LOI provides for the contribution by Vista and Midas of their respective mining claims, interests and other assets in the District to a newly formed U.S. corporation ("Newco").  Immediately following the combination, Newco will be held 35% by Vista and 65% by Midas' shareholders.  Additionally, the LOI provides that Vista will initially have the right to appoint 25% of the directors of Newco and Midas will initially have the right to appoint 75% of the directors.

The LOI provides that Vista and Midas will commence due diligence immediately and will use commercially reasonable efforts to agree on the structure of the combination and enter into definitive documentation for the combination by December 31, 2010, following which the parties will seek all necessary shareholder and regulatory approvals with the intention of closing the combination on or before February 1, 2011.  The combination would also extinguish a 5.0% net smelter returns royalty on Vista's Yellow Pine gold project, which royalty is currently held by Midas.

Commenting on the proposed combination, Vista's Executive Chairman and CEO, Michael Richings said, "Vista has been considering development options for our Yellow Pine gold project and the proposed combination of our assets in the District with Midas' to create a district-sized gold project with upside potential is consistent with our goal of advancing our non-core portfolio assets.  Vista shareholders participated in significant value realization following Vista's transaction resulting in the sale of our Nevada based mineral interests to the newly created Allied Nevada Gold Corp. in 2007.    We believe the proposed combination with Midas could create a similar path to value creation for Vista.  Vista currently has estimated measured and indicated resources of 2.2 million ounces of gold (at a cut-off grade of 0.025 ounces per ton) at its Yellow Pine gold project. This year Midas has conducted an extensive drilling program on its claims in the District and has advised us that it expects to complete a Canadian National Instrument 43-101 ("43-101") compliant resource estimate for its properties located in the District early next year.  We believe there is an excellent opportunity to increase the estimated gold resources in the District through additional exploration on Midas' properties.  We believe that the combination of Vista's more technically advanced Yellow Pine assets with Midas' superior land position and exploration potential will facilitate accelerated development of the project as well as provide synergies in financing and permitting efforts."

About Yellow Pine Project

Vista acquired its Yellow Pine gold project in 2003 for consideration of U.S.$1.0 million payable in yearly option payments of U.S.$100,000 of which U.S.$800,000 has been paid to date.  On November 13, 2006, Vista announced the results from a Preliminary Assessment of the Yellow Pine gold project completed by Pincock Allen & Holt of Lakewood, Colorado, in accordance with 43-101 standards under the direction of Richard Lambert, P.E. and Barton Stone, P.G., both independent qualified persons (as defined by 43-101).  The preliminary assessment utilized a database containing 538 drill holes (36,643 meters) and at a cut-off grade of 0.025 ounces per ton the mineral resources estimates are:

1) Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This press release and the resource analysis report use the terms "measured resources", "indicated resources" and "measured and indicated resources". We advise U.S. investors that while these terms are recognized and required by Canadian regulations, these terms are not defined terms under the United States Securities and Exchange Commission's (the "SEC")  Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures.  The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC. The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC.  U.S. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into SEC Industry Guide 7 reserves.

2) Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: This press release and the resource analysis report use the term "inferred resources". We advise U.S. investors that while this term is recognized and required by Canadian regulations, this term is not a defined term under SEC Industry Guide 7 and is normally not permitted to be used in reports and registration statements filed with the SEC. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures.  The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC.  U.S. Investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.

A copy of the Preliminary Assessment entitled "CNI 43-101 Technical Report, Preliminary Assessment of the Yellow Pine Project, Yellow Pine, Idaho" and dated December 13, 2006, can be found on www.sedar.com.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, estimates of mineral resources, the conversion of inferred mineral resources to measured and indicated resources, the conversion of mineral resources to mineral reserves, the potential to expand the resource base at the Yellow Pine gold project, the timing for completion and expected results of the 43-101 resource estimate by Midas relating to its properties in the District, potential gold resources at the Yellow Pine gold project and on Midas properties located in the District, the entering into a definitive agreement with Midas, the extinguishment of the 5% net smelter returns royalty on the Yellow Pine gold project, the timing for the completion of the definitive agreement and completion of the proposed transaction, the potential upsize resulting from the combination of the Yellow Pine gold project with Midas' assets in the District, the quantum of the potential value realization, if any, resulting from the proposed transaction, and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "optimistic," "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will,", "could", "if," "anticipate," and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, negotiating a satisfactory definitive agreement, timing for completing the definitive agreement, obtaining board and regulatory approvals, tax consequences of the proposed combination, the ability to find and hire an appropriate management team for Newco, the ability to integrate the operations of Newco, uncertainty of resource estimates, estimates of results based on such resource estimates; risks relating to cost increases for capital and operating costs; risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed November 9, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

DENVER, Nov. 30, 2010 /PRNewswire/ -- Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) is pleased to announce that the agreement for the management of the Company's Mt. Todd gold project in Northern Territory, Australia, has been renewed for an additional five-year period.  

The Northern Territory Government ("NTG") issued a media release today which is reprinted in its entirety below:

30 November 2010 – Mount Todd Agreement Renewed

Resources Minister Kon Vatskalis announced today that the agreement between the Northern Territory Government and Vista Gold Corporation for the management of the Mount Todd mine, has been renewed for a further five years.

Mr. Vatskalis says the government is pleased with Vista's performance in managing the mine over the last four years.

"This renewal represents the opportunity to turn a legacy site inherited by the Labor Government into an operating mine, which will provide the resources to rehabilitate the site in the long term," he said.

"The Labor Government is the first government in Northern Territory to require a 100% rehabilitation security bond to ensure that there are sufficient funds to prevent this from occurring again."

The Chairman and Chief Executive Officer of Vista Gold, Mr. Mike Richings, also welcomed the renewal of the agreement.

"Our programs have focused on overcoming Mount Todd's unique technical problems.  The results so far have been encouraging and we plan to advance and refine our plans for restarting the mine."

Mr. Richings added that his company had developed an excellent working relationship with both Mr. Vatskalis and the Department of Resources.

Mr. Vatskalis said he was pleased with Vista's long-term approach to the site and the commitment they have shown to date.

"Should the site prove economically viable, in addition to the benefits of rehabilitation, there will be a considerable economic benefit to the Katherine region," he said.

Commenting on the NTG's media release, Fred Earnest, Vista's President and COO stated, "The renewal of our agreement with the NTG for the management of the Mt. Todd mine for an additional five years allows us to move forward with our development plans for this project.  This is a strong endorsement of Vista's project development and environmental management program for the Mt. Todd site.  We are proud of the environmental accomplishments that have been achieved with the joint cooperation of the NTG.  Vista is committed to developing the Mt. Todd gold project in a way that continues to respect the values of the traditional landowners and providing the environmental and operational leadership that can result in the remediation of a legacy site through the development of a new mine, designed and built to today's standards with the financial guarantees to ensure the proper closure."

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the future development plans at the Mt. Todd gold project, the development of the Mt. Todd gold project in a way that respects landowners, Vista's leadership in environmental and operational matters at the Mt. Todd gold project, the potential for remediation of the legacy site and the potential for a new mine at the Mt. Todd gold project, the potential design at current standards and the provision of financial guarantees for a mine at the Mt. Todd gold project, the application and receipt of authorization of permits for the construction of a new mine, and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "optimistic," "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if," "anticipate," and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty of resource estimates, estimates of results based on such resource estimates; risks relating to completing metallurgical testing; risks relating to cost increases for capital and operating costs; risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risk regarding the PFS, risks relating to the delays at the Mt. Todd gold project; risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the uncertainty of costs associated with remediation; the uncertainty of the quantum of financial guarantees; the inherently hazardous nature of mining-related activities; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; risks related to repayment of debt; risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed November 9, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

SOURCE Vista Gold Corp.

DENVER, Nov. 9, 2010 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX & NYSE Amex: VGZ) ("Vista" or the "Corporation") announced today its financial results for the quarter and nine months ended September 30, 2010, as filed on November 9, 2010, with the United States Securities and Exchange Commission (the "SEC")  and the relevant securities regulatory authorities in Canada in the Corporation's Quarterly Report on Form 10-Q, and announces a management quarterly conference call scheduled for Friday, November 12, 2010, at 9:00 A.M. MST.

Recent Highlights

Closes private placement financing (shareholder and regulatory approval pending) of U.S.$33 million to be used to re-purchase notes of U.S.$23 million, for the advancement of our Mt. Todd gold project and for general corporate purposes;
Announces results of Pre-feasibility study and estimate of mineral reserves on our Mt. Todd gold project; and
Changes name of our Paredones Amarillos gold project in Mexico to Concordia gold project.

Results from Operations

All dollar amounts in the following press release are in thousands of United States dollars, except share data.

Our consolidated net loss for the three-month period ended September 30, 2010, was $1,344 or $0.03 per share compared to $1,717 or $0.05 per share for the same period in 2009.  Our consolidated net loss for the nine-month period ended September 30, 2010, was $7,195 or $0.16 per share compared to consolidated net earnings of $293 or $0.01 per share for the same period in 2009.  For the nine-month period ended September 30, 2010, the increase in the consolidated net losses of $7,488 from the respective prior period is primarily due to decreases in the gain on disposal of Allied Nevada Gold Corp. marketable securities of $6,564. 

On March 4, 2011, the $23,000 principal balance of our senior secured convertible notes (the "Notes") will come due.  Presently, we do not have sufficient capital to meet this obligation.  On October 22, 2010, we announced the closing of a private placement financing of special warrants (the "Private Placement").  The Corporation issued 14,666,739 special warrants for gross proceeds of $33,734.  As previously announced, these proceeds are being held in escrow until the Corporation receives shareholder and regulatory approval of the Private Placement.  In the event these approvals are not obtained by December 15, 2010, the proceeds of the Private Placement will be returned to the purchasers under the Private Placement.  (See our press release dated October 22, 2010).

The following table summarizes selected financial data for the company.  To review Vista's Quarterly Report on Form 10-Q for the fiscal quarter ending September 30, 2010, including our Management Discussion & Analysis, visit either www.sedar.com, www.sec.gov or www.vistagold.com.  

Management Conference Call

A conference call with management to review our financial results for the quarter ended September 30, 2010 and to discuss corporate and project activities is scheduled on Friday, November 12, 2010, at 9:00 a.m. MST.

Toll-free in North America:  1-866-443-4188

International:  1-416-849-6196

This call will also be web-cast and can be accessed at the following web location:

http://www.snwebcastcenter.com/event/?event_id=1335

This call will be archived and available at www.vistagold.com after November 12, 2010.  Audio replay will be available for three weeks by calling in North America:  1-866-245-6755, passcode 437814.

If you are unable to access the audio or phone-in on the day of the conference call, please feel free to email questions to Connie Martinez, Manager - Investor Relations, (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) and we will try to address these questions prior to or during the conference call.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the repayment of the Notes, receipt of shareholder and regulatory approval of the Private Placement, the release to Vista and use of proceeds of the Private Placement, and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty regarding shareholder and regulatory approvals, uncertainty of resource and reserve estimates, estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and other documents filed with the SEC and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

DENVER, Oct. 22 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") announces that it has closed its previously announced private placement of special warrants ("Special Warrants").  The Corporation issued an aggregate of 14,666,739 Special Warrants, for gross proceeds of U.S.$33,733,500.  The proceeds from the financing have been placed into an escrow account with a Canadian financial institution and upon receipt of Shareholders' Approval (as defined below), the proceeds will be released to the Corporation and used for the following purposes: (i) to repurchase the U.S.$23 million principal amount of outstanding 10% senior secured convertible notes due March 4, 2011, (ii) the advancement of the Mt. Todd project, and (iii) for general corporate purposes.

The Special Warrants will automatically be exercised, for no additional consideration, for one common share of the Corporation (a "Common Share") and one common share purchase warrant (a "Warrant") upon receipt of Vista's shareholders' approval of the private placement (the "Shareholders' Approval"). Each Warrant will be exercisable over a five-year period from the closing of the private placement, to purchase one Common Share (a "Warrant Share") at a purchase price of U.S.$3.50 during the first year, U.S.$4.00 during the second year, U.S.$4.50 during the third year and U.S.$5.00 thereafter until the expiry of the Warrant. If the closing price of the Common Shares on the NYSE Amex Equities Stock Exchange is at least 35% above the current Exercise Price of the Warrants for a period of 15 consecutive trading days, then the Corporation will have the option to request that the Warrants be exercised. If the Warrants are not exercised within 25 business days following this request, they will be cancelled.  The Corporation anticipates requesting the Shareholders' Approval at a Special Shareholders' Meeting to be held prior to the end of this year.

In addition, Vista issued a total of 652,175 Special Warrants and 652,175 compensation warrants (each compensation warrant being exercisable for two years from the closing of the private placement, to acquire one Common Share at a price of U.S.$2.30) to the agents and finders that provided services in connection with the financing.

The above-described securities have not been registered under the U.S. Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) or a person in the United States absent registration under the U.S. Securities Act or an applicable exemption from such registration requirements and in accordance with all applicable state securities laws of any state of the United States.  This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of the above described securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans to conduct the private placement offering as described in this press release; Vista's future business strategy, competitive strengths, goals, operations, plans, and potential project development; and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "intends", "plans", "anticipates", "will", and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty concerning Vista's ability to raise capital on favorable terms or at all; uncertainty concerning Vista's ability to obtain shareholder approval for the private placement offering; risks associated with financings; risks relating to fluctuations in the price of gold; risks related to repayment of debt; risks related to increased leverage; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; the inherently hazardous nature of mining-related activities; uncertainty concerning reserve and resource estimates; uncertainty concerning estimates of results based on such reserve and resource estimates; risks relating to completing metallurgical testing; uncertainty of future feasibility study results; risks relating to cost increases for capital and operating costs including the cost of power; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; and risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings "Uncertainty of Forward Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K, as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed on August 6, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and 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 statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185.

SOURCE Vista Gold Corp.

DENVER, Oct. 12 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") announces that it has agreed to include a co-agent with its Canadian agent in respect of its private placement of special warrants ("Special Warrants") and, subject to the approval of the Toronto Stock Exchange and the NYSE Amex, to increase the size of the financing from up to U.S.$30 million (or 13,043,479 Special Warrants) to up to U.S.$33,756,502 (or 14,676,740 Special Warrants).  In addition, the Corporation has agreed to adjust the acceleration provision of the warrants ("Warrants") issuable upon exercise of the Special Warrants to provide that the Warrants will be cancelled if not exercised within 25 (instead of 15) business days after receipt of the early exercise request from the Corporation.  All other terms of the private placement, the Special Warrants and the securities issuable upon exercise of the Special Warrants remain unchanged from those previously announced by the Corporation in its press release dated September 30, 2010.

The above-described securities have not been registered under the U.S. Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) or a person in the United States absent registration under the U.S. Securities Act or an applicable exemption from such registration requirements and in accordance with all applicable state securities laws of any state of the United States.  This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of the above described securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans to conduct the private placement offering as described in this press release; Vista's future business strategy, competitive strengths, goals, operations, plans, and potential project development; and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "intends", "plans", "anticipates", "will", and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty concerning Vista's ability to raise capital on favorable terms or at all; uncertainty concerning Vista's ability to obtain shareholder approval for the private placement offering; risks associated with financings; risks relating to fluctuations in the price of gold; risks related to repayment of debt; risks related to increased leverage; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; the inherently hazardous nature of mining-related activities; uncertainty concerning reserve and resource estimates; uncertainty concerning estimates of results based on such reserve and resource estimates; risks relating to completing metallurgical testing; uncertainty of future feasibility study results; risks relating to cost increases for capital and operating costs including the cost of power; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; and risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings "Uncertainty of Forward Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K, as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed on August 6, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and 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 statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185.

SOURCE Vista Gold Corp.

DENVER, Sept. 30 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") announces that it intends to undertake a private placement financing, subject to shareholder and regulatory approvals, in which it plans to raise gross proceeds of up to U.S.$30 million from the sale of up to 13,043,479 special warrants of the Corporation (the "Special Warrants"), each priced at U.S.$2.30.  The Special Warrants will automatically be exercised, for no additional consideration, for one common share of the Corporation (a "Common Share") and one common share purchase warrant (a "Warrant") upon receipt of Vista's shareholders' approval of the private placement (the "Shareholders' Approval"). Each Warrant will be exercisable over a five-year period from the closing of the private placement, to purchase one Common Share (a "Warrant Share") at a purchase price of U.S.$3.50 during the first year, U.S.$4.00 during the second year, U.S.$4.50 during the third year and U.S.$5.00 until the expiry of the Warrant. If the closing price of the Common Shares on the NYSE Amex Equities Stock Exchange is at least 35% above the current Exercise Price of the Warrants for a period of 15 consecutive trading days, then the Corporation will have the option to request that the Warrants be exercised. If the Warrants are not exercised within 15 business days following this request, they will be cancelled.

The Corporation anticipates requesting the Shareholders' Approval at a Special Shareholders' Meeting before the end of 2010.  The exercise of the Special Warrants and the issuance of the Common Shares and Warrants are subject to the approval of the Toronto Stock Exchange, the NYSE Amex Equities Exchange and other regulatory approvals.

The Corporation has agreed to use its commercially best efforts to have a registration statement, with respect to the resale of the Common Shares, Warrants and Warrant Shares issuable under the private placement, declared effective by the U.S. Securities and Exchange Commission within four months of the receipt of the Shareholders' Approval.

If the transaction is completed, the net proceeds will be used for the following purposes: (i) to repurchase the U.S.$23 million principal amount of outstanding 10% senior secured convertible notes due March 4, 2011, (ii) the advancement of the Mt. Todd project, and (iii) for general corporate purposes.

The Corporation has agreed to pay fees in respect of subscriptions from investors introduced to the Company by a finder in the United States and an agent in Canada.  The fees will be payable in that number of Special Warrants equal to 5% of the number of Special Warrants purchased by investors introduced by that finder or agent.  In addition, the finder and the agent will be issued the number of compensation warrants equal to 5% of the Special Warrants sold to purchasers introduced by that finder or agent pursuant to the private placement with each compensation warrant being exercisable for two years from the closing of the private placement, to acquire one Common Share at a price of U.S.$2.30 per Common Share.

The above-described securities have not been registered under the U.S. Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) or a person in the United States absent registration under the U.S. Securities Act or an applicable exemption from such registration requirements and in accordance with all applicable state securities laws of any state of the United States.  This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of the above described securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans to conduct the private placement offering as described in this press release; Vista's plans to obtain shareholder approval for the private placement offering; Vista's anticipated use of the proceeds from the private placement offering; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "intends", "plans", "anticipates", "will", and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty concerning Vista's ability to raise capital on favorable terms or at all; uncertainty concerning Vista's ability to obtain shareholder approval for the private placement offering; risks associated with financings; risks relating to fluctuations in the price of gold; risks related to repayment of debt; risks related to increased leverage; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; the inherently hazardous nature of mining-related activities; uncertainty concerning reserve and resource estimates; uncertainty concerning estimates of results based on such reserve and resource estimates; risks relating to completing metallurgical testing; uncertainty of future feasibility study results; risks relating to cost increases for capital and operating costs including the cost of power; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; and risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings "Uncertainty of Forward Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K, as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed on August 6, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and 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 statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185.

SOURCE Vista Gold Corp.

DENVER, Sept. 8 /PRNewswire/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Company") is pleased to announce a mineral resource estimate of 179,000 ounces of Measured and Indicated Resources 1) and 277,000 ounces of Inferred Resources 2) at the Quigleys deposit, located 3.5 km northeast of the Batman deposit at the Company's Mt. Todd gold project in Northern Territory, Australia.  

TetraTech MM, Inc. ("TetraTech") of Golden, Colorado, was contracted to review the geology and calculate the mineral resource estimate in accordance with National Instrument 43-101 ("NI 43-101").  The mineral resource estimates were conducted under the direction of Mr. John Rozelle, an independent Qualified Person as defined by NI 43-101 using standard industry software and resource estimation methodology.  

Based on TetraTech's resource analysis report, the estimated gold resources for the Quigleys deposit reported at a cut-off grade of 0.5 grams of gold per tonne are:

1) Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This press release and the resource analysis report use the terms "measured resources", "indicated resources" and "measured and indicated resources". We advise U.S. investors that while these terms are recognized and required by Canadian regulations, these terms are not defined terms under the United States Securities and Exchange Commission's (the "SEC")  Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures.  The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC. The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC.  U.S. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into SEC Industry Guide 7 reserves.

2) Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: This press release and the resource analysis report use the term "inferred resources". We advise U.S. investors that while this term is recognized and required by Canadian regulations, this term is not a defined term under SEC Industry Guide 7 and is normally not permitted to be used in reports and registration statements filed with the SEC. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures.  The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC.  U.S. Investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.

The resource description will be included in the Mt. Todd Preliminary Feasibility Study to be filed on SEDAR (www.sedar.com) during the latter part of this month (please refer to Vista's August 18, 2010 press release for results of the preliminary feasibility study).

Vista's President and COO, Fred Earnest, commented, "We plan to evaluate the feasibility of incorporating material from this satellite deposit into our development plans for the Mt. Todd gold project.  The Quigleys deposit is one of several satellite deposits that we have identified on the Mineral Leases and Exploration Licenses ("EL's") we hold at the Mt. Todd gold project. In June, we announced the discovery of an exploration target identified as MSTS-4, which is the largest of five new geochemical/geophysical anomalies we have identified on the EL's. We have mobilized a drill to test this and other targets on the EL's and expect drilling to commence this week."

Mineralization at the Quigleys deposit is interpreted to occur within a series of mineralized shears that strike north northwest and dip 30° - 35° to the west. The main shear extends for nearly one kilometer along the strike and has been drilled to a vertical depth of 230 meters.  The mineral resource estimate has been defined by 632 drill holes drilled by Pegasus Gold Australia Pty Ltd. and Billiton Australia Gold Pty Ltd. in the late 1980s through the mid-1990s.  TetraTech reviewed the integrity of the drill hole database and developed a computer model to estimate and classify the estimated mineral resources. The model reflected TetraTech's geological interpretation of the deposit, which constrained the mineralization to the shear zones using geological information and assays from 49,178 samples obtained from the drilling. Lower grade, erratic mineralization in the hanging wall of the shears has not been included in the mineral resource estimate.

About Vista Gold Corp.

Vista is focused on the development of the Concordia gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as the production and economic analysis and forecasts, estimates of mineral reserves and resources, the conversion of inferred resources to measured and indicated resources, the conversion of mineral resources to mineral reserves, life of mine estimates, the potential for gold resources in the Batman and Quigleys deposits and other targets within the Mt. Todd gold project, the successful completion of a metallurgical testing program on ore from the Quigleys deposit, future gold prices, future U.S.-to-Australian dollar exchange rates, favorable effects of Mt. Todd gold project economics and Vista's ability to add value in a cost-effective manner, the estimated operating and capital costs and the cash flow analysis and sensitivity analysis in the Mt. Todd Preliminary Economic Assessment and the Mt. Todd Preliminary Feasibility Study, the anticipated start to and the results of a drill program to test the Quigleys deposit and other targets, the anticipated completion and filing of the Mt. Todd preliminary feasibility study, and anticipated processing capacity and tailings management and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "optimistic", "potential", "indicate", "expect", "intend", "hopes," "believe," "may," "will," "if, "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty of reserve and resource estimates, estimates of results based on such reserve and resource and reserve estimates; risks relating to completing metallurgical testing; uncertainty of future feasibility study results; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays at the Mt. Todd gold project; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; risks related to repayment of debt; risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed on August 6, 2010, and other documents filed with the SEC and Canadian securities commissions.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Without limiting the foregoing, this press release uses terms that comply with reporting standards in Canada and certain estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosures an issuer makes of scientific and technical information concerning mineral projects.  All mineral resource and reserve estimates contained in this press release, including the terms "measured mineral resources," "indicated mineral resources", "inferred mineral resources", "proven mineral reserves" and "probable mineral reserves" have been prepared in accordance with NI 43-101, and these standards differ significantly from the requirements of the SEC.  The resource and reserve information contained in this press release is not comparable to similar information disclosed by U.S. companies.  See the Cautionary Notes to U.S. Investors above.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE Vista Gold Corp.

DENVER, Sept. 7 /PRNewswire/ -- Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) today announced that it has changed the name of its wholly-owned Paredones Amarillos gold project in Baja California Sur, Mexico to the Concordia gold project. The Company believes this will better reflect the integration of the project with the environmental, social and economic priorities of the region.  

The name Concordia (translated as "agreement" or "oneness") was selected after a wide-ranging dialogue with local communities and other project stakeholders.  The name change is part of a broad program intended to communicate Vista's commitment to developing the Concordia gold project in a way that is consistent with contemporary standards for sustainable development, environmental stewardship, and the health and safety of the communities in which the Company operates.  

Fred Earnest, Vista's President and COO, stated, "In May of this year, we hired Hector Araya as the new General Manager of Concordia.  With his participation, we are changing the way we communicate with the local community and officials concerning the very real benefits offered by the Concordia gold project, which could include significant opportunities for direct and indirect employment, education, and improved quality of life.  Vista is working hard to communicate to stakeholders that the Concordia gold project will employ state of the art environmental practices and operate in a manner that is designed to protect the natural environment and the Sierra de La Laguna Biosphere."    

The Company believes that the name change reflects the spirit of its collaboration and the values it shares with the local communities and project stakeholders as the Concordia gold project moves forward.

About Vista Gold Corp.

Vista is currently focused on the development of the Concordia gold project in Baja California Sur, Mexico and the Mt. Todd gold project in Northern Territory, Australia. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the anticipated integration of the Concordia gold project with the environmental, social and economic priorities of the Baja California, Sur region, the potential development of the Concordia gold project with contemporary standards for sustainable development, environmental stewardship, and the health and safety of the surrounding communities, the anticipated benefits of the project, including significant opportunities for direct and indirect employment, education and an improved quality of life, the manner in which the Company expects to operate the Concordia gold project by planning to employ state of the art environmental practices and to operate in a manner that will protect the environment and the Sierra de La Laguna Biosphere and other such matters are forward-looking statements and forward-looking information.

When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, risks related to the Company's failure to obtain approval of the Change of Forest Land Use application and begin construction of the Concordia gold project, risks related to the development of the Concordia gold project, risks related to the possible reduction of mineral reserves to mineral resources estimates, including estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks that the expected results of future reclamation activities are not what the Company anticipates, risks that the Company cannot employ state of the art environmental practices due to technical or economic reasons, risks related to results of negotiations with stakeholders, risks related to factors that are beyond the Company's control,  risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects of catastrophic natural events, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010 and Quarterly Report on Form 10-Q, as filed on August 6, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

DENVER, Aug. 18 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) is pleased to announce estimated proven and probable mineral reserves of two million ounces and the positive results of a Preliminary Feasibility Study ("PFS") for the Batman deposit at the Company's wholly-owned Mt. Todd gold project in Northern Territory, Australia.  The PFS was managed by TetraTech MM Inc. ("TetraTech") of Golden, Colorado, which also undertook the resource modeling and estimation, geotechnical, environmental and site reclamation engineering and design. Mr. John Rozelle, PG, Manager of TetraTech's Mineral Resource Division and Principal Geologist, an independent Qualified Person as defined by Canadian National Instrument 43-101 ("NI 43-101"), prepared or supervised the preparation of material on behalf of TetraTech.  Thomas Dyer, P.E., of Mine Development Associates, an independent Qualified Person as defined by NI 43-101, prepared or supervised the preparation of material on behalf of Mine Development Associates.  Mr. Rozelle and Mr. Dyer prepared or supervised the preparation of the information that forms the basis for the scientific and technical information disclosed herein and have reviewed this press release and have consented to its release.  The PFS study will be filed on SEDAR (at www.sedar.com) in its entirety within 45 days.  All dollar amounts in this press release are in US dollars unless otherwise noted.  Management plans to review the results of the PFS in a conference call, details of which are shown at the end of the press release.

The PFS base case (the "Base Case") was evaluated using the three-year trailing average gold (Au) price of $950 per ounce. Mineral reserve estimates and production highlights from the Base Case are tabulated below.

The PFS was completed using a foreign exchange rate of $0.85 = A$1.00 and incorporates mid-2010 costs.  The following table summarizes the Base Case economic results with a comparison to the Base Case sensitivity at a gold price of $1200 per ounce and a foreign exchange rate of $0.90 = A$1.00.

In addition to the Base Case, Vista also studied a larger 30,000 tonnes per day case (the "Sensitivity Case") using a gold price of $1200 per ounce.  The operating costs in the Sensitivity Case were completed to pre-feasibility level standards.  The mining capital costs are based on mid-2010 costs, while the process capital costs are based on late-2009 costs.  The capital costs for the tailings impoundment are factored from the Base Case, as were the water treatment and closure costs and do not meet the standards required for a preliminary feasibility study, however they are within the level of accuracy for a preliminary assessment. Vista intends to commission TetraTech to undertake further work to optimize and bring the Sensitivity Case to a preliminary feasibility level over the next few months. Highlights from the Sensitivity Case are tabulated below.

Commenting on the positive Mt. Todd PFS, Fred Earnest, President and COO of Vista, stated, "We believe that the comprehensive program of work we have undertaken over the last four years has addressed the technical issues experienced by Pegasus, Mt. Todd's prior owner.  It is our view that based on our improved understanding of the ore body, together with the selection of a proven milling process and equipment, the proposed re-opening of Mt. Todd will be technically, operationally and economically attractive at a conservative gold price of $950 per ounce and very attractive at current gold prices. The larger Sensitivity Case has good economics at current gold prices and we intend to optimize and upgrade this alternative to a pre-feasibility level study over the next few months.  If the proposed work confirms the Sensitivity Case results, we believe we may be able to double the project's proven and probable mineral reserves estimates to approximately 3.5 to 4.0 million ounces.  Additionally, we believe there is significant potential to grow Mt. Todd's mineral resource estimates through exploration on the project's 160,878 hectares of exploration tenements."

General

The Mt. Todd gold project mine site is located 230 km southeast of the port of Darwin and 56 km by road north-northeast of the regional center of Katherine. Katherine and Darwin are connected by a railroad and the Stuart Highway. An existing paved road connects the mine site to the Stuart Highway. Vista acquired the project in February 2006 for approximately $2.0 million, reaching agreements with Ferrier Hodgson, the Deed Administrators for Pegasus Gold Australia Pty Ltd., the government of the Northern Territory of Australia and the Jawoyn Association Aboriginal Corporation. Pegasus reported investing over $200 million to develop the Mt. Todd gold project mine and operated it from 1993 to 1997, when the Mt. Todd gold project was closed as a result of technical difficulties and low gold prices. The mine's plant and most of the equipment were sold in June 2001 and removed from the mine, but the tailings facility, fresh water storage reservoir, natural gas pipeline (for power generation), and various buildings and useful foundations remain. Since acquiring the project in 2006, Vista has undertaken various studies and programs, including an initial Preliminary Economic Assessment ("PEA") issued on December 29, 2006, an updated PEA issued on June 11, 2009, extensive sampling and diamond drilling (over 26,000 meters), an extensive metallurgical test program which included crushing and grinding, flotation and leach test work, mine design, as well as various preliminary engineering studies and cost estimates.

Mineral Resources and Reserves Estimates

The PFS is based on Vista's updated gold mineral resource estimate for the Batman deposit as of June 11, 2009, which assumed a cutoff grade of 0.40 grams of gold per tonne. The resource estimate is detailed in the report "Mt. Todd Gold Project - Updated Preliminary Economic Assessment Report - Northern Territory, Australia" dated June 11, 2009 and is available on SEDAR at www.sedar.com.  The resources are tabulated below.

The estimated measured and indicated mineral resources included in the table above includes 60.049 million tonnes of proven and probable reserves shown in the table of estimated proven and probable reserves below.

Mine Development Associates used the June 2009 resource model to develop an open pit mine design, including intermediate pits plans and production schedules.

The mineral reserve estimates prepared and reported by Mine Development Associates, under the supervision of Mr. Dyer, and using the June 2009 resource model at a gold price of $950 per ounce of gold and cut-off grade of 0.55* grams of gold per tonne are summarized in the following table.

Capital and Operating Cost Estimate

Estimated life-of-mine average total cash production costs are projected to be $487 per ounce, with the highest costs occurring in the first five years of the project.  The latter half of the project life benefits from decreases in the required stripping.  Pre-production capital costs including contingency, owner's costs and working capital are estimated to be $441 million and sustaining capital over the life of the mine is estimated to be $33 million.  Post-operation reclamation costs are not included in the total capital costs, but are included in the cash flow analyses and return on investment calculations.

Mining

Vista plans to extract ore from the mine using conventional open pit mining equipment and techniques.  A waste mining fleet consisting of 180-tonne trucks and 21 m3 shovels has been selected to complement the 140-tonne truck and loader ore mining fleet.  The Company would be the owner and operator of the mining fleets and expects to enter into maintenance and repair contracts for the major mining equipment. In the Base Case, ore will be mined in three pit development phases over a period of 8.86 years.  Waste rock will be placed in a single waste dump and concurrent reclamation is planned for the lower benches of the dump.  

Processing

Following an extensive review of the plant performance data from previous operators, it was clear to Vista that there were a number of key reasons why these operations were unsuccessful. As a result, Vista undertook mineralogical and metallurgical studies to fully understand the type of ore that would be treated over the life of the proposed mine. This was followed by laboratory test programs that evaluated the metallurgical process, proposed equipment and the expected performance and cost parameters. Vista believes that principal reasons that led to the previous operational failure were:

• Ore hardness - the plant built by the previous operator was poorly designed to handle the hard ore and failed to produce a satisfactory product or achieve design capacity. Vista tested and determined the expected ore hardness and then evaluated various combinations of equipment. The best combination of equipment involved primary and secondary crushing, tertiary crushing employing  high pressure grinding rolls (HPGR) followed by a large ball mill. The use of HPGR is expected to result in a product which significantly improves the efficiency of the grinding circuit. For the Base Case the circuit is very simple with a large primary gyratory crusher, a secondary cone crusher, a single HPGR unit and a single ball mill. HPGR technology is currently being successfully used by Newmont Mining Corporation, at Australia's largest gold mine, the 20 million ounce Boddington mine in Western Australia. The circuit has been designed to reflect the results of leach tests that indicate that the optimum grind size should be 80% passing 100 mesh, coarser than used in previous operations.
• Metallurgy – A number of metallurgical problems were encountered in the past, mostly related to copper minerals in the ore. Vista's test program focused first on understanding the form and distribution of the copper minerals in the ore body and then on the best metallurgical approach to deal with the copper. In the mineralogical review it became apparent that the form of the copper minerals changes with depth. In the upper part of the ore body, mostly mined out by previous operators the copper existed mainly as secondary copper minerals such as chalcocite, bornite and covellite; these minerals are very soluble in cyanide which greatly increased the expense of leaching. The remaining ore contains mainly primary copper minerals like chalcopyrite which generally has a very minor effect on leaching and cyanide consumption. The tests Vista undertook on representative samples of the ore to be mined showed that whole ore leaching combined with a carbon-in-pulp recovery circuit yields acceptable recoveries of 82%.

The proposed plant for the Base Case will have a design capacity of 18,500 tonnes per day and has been designed to be simple, efficient and easy to maintain. The proposed flowsheet indicates that following grinding the slurried ore will be sized by cyclones, thickened, pre-aerated, and then leached in tanks prior to recovery in a hybrid carbon-in-pulp circuit.  Gold will be stripped from the carbon and precipitated in an electrowinning cell prior to refining into doré bars.  The tailings would be detoxified using the SO2/Air process and deposited in the existing tailings impoundment facility.

Further contributing to lower costs, the proposed project will self-generate power using low cost natural gas which can be supplied to the site via the existing natural gas pipeline.  The project also includes plans to produce lime from near-by limestone deposits, thereby significantly reducing the supply cost for this reagent.

Infrastructure

As a previously operated project, the Mt. Todd gold project site has existing infrastructure which includes: a fresh water storage reservoir with sufficient capacity to sustain the proposed operation, paved access roads, concrete foundations for some of the crushing circuit, a natural gas pipeline and an electrical power line.  Power will be generated on site using a gas-turbine generator which is included in the project capital. The power plant is designed to have excess capacity to meet higher loads during large equipment starting up.  Excess power during operations will be sold into the grid further reducing expected costs.  During the 9-year post-closure period, Vista intends to continue operating the natural gas turbine power generating plant.  Revenues derived from selling power to the grid during this period are expected to fund all of the reclamation activities.

Environmental

Both the Base Case and Sensitivity Case include engineering designs for the closure of the mine site following cessation of production.  The closure plan was designed to meet all requirements for long-term reclamation of the site and cost estimates include provisions for monitoring required under applicable law.

Economic Analysis

The Base Case economic analysis was completed using the three-year trailing average gold price of $950 per ounce and a foreign exchange rate of $0.85 = $A1.00.  Vista has also completed sensitivity analyses calculated at gold prices of $1000, $1100, $1200 and $1500 per ounce.  The $1200 and $1500 sensitivity analyses incorporate the current foreign exchange rate of $0.90 = A$1.00.  Estimated before and after tax economic results, showing the internal rate of return (IRR) and net present value at a 5% discount rate (NPV5%), cumulative cash flow and sensitivity to changes in gold price are shown in the following tables.

Mike Richings, Executive Chairman and CEO of Vista added the followings comments, "We are very pleased with the results of the Mt. Todd gold project PFS.  We believe we have demonstrated that development of the Mt. Todd gold project can generate value that is a multiple of Vista's current market capitalization for a project we acquired for less than three million dollars.  This once again underscores the benefits of Vista's historic value-based acquisition strategy to acquire discovered gold projects and to hold them for higher gold prices. In 2007, we created significant value for our shareholders through the spin-out of Allied Nevada Gold Corp. and we are once again posed to take advantage of high current gold prices to generate additional value for shareholders through development or execution of other strategic alternatives for the Mt. Todd gold project."

Exploration Potential

Vista controls a large land package (160,878 hectares) of Exploration Tenements surrounding the Mt. Todd gold project. As previously announced by the Company, Vista's geologists have identified four new exploration targets at the Mt. Todd gold project that are now being followed up on through additional sampling and testing.  Of note, at the target identified as MSTS-4, rock chip sampling, in an area with limited exposure, returned a 25.0 g/t gold sample from a small outcrop of fault breccia.  Further sampling returned 23.0 g/t and 7.7 g/t gold assays in vein and breccias located 15 meters and 50 meters, respectively, north of the original sample.   Due to the sparse outcrop, the orientation and thickness of the mineralized zone is not currently known.  A soil sampling program over the area has recently been completed on a 20 meter grid.  The survey returned a strong coherent gold anomaly approximately 400 meters in diameter with coincident anomalous base metals and arsenic.  The Company plans to conduct diamond core drilling in the area of this target later this year.

Management Conference Call

A conference call with management to review the Mt. Todd gold project preliminary feasibility results is scheduled on Monday, August 23, 2010, at 4:00 p.m. ET.

Toll-free in North America:  1-866-443-4188

International:  1-416-849-6196

This call will also be web-cast and can be accessed at the following web location:

http://www.snwebcastcenter.com/event/?event_id=1075

This call will be archived and available at www.vistagold.com after September 13, 2010.  Audio replay will be available for three weeks by calling in North America:  1-866-245-6755, passcode 59130.

If you are unable to access the audio or phone-in on the day of the conference call, please feel free to email questions to Connie Martinez, Manager - Investor Relations, (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) and we will try to address these questions prior to or during the conference call.

About Vista Gold Corp.

Vista is focused on the development of the Paredones Amarillos gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

(1) Cautionary Note to U.S. Investors concerning estimates of Reserves: This press release and the PFS referred to in this press release use the term "Proven and Probable Reserves" and "Mineral Reserves". We advise U.S. investors that while these terms are defined in and required by Canadian regulations, such definitions differ from the definitions in U.S. Securities and Exchange Commission ("SEC") Industry Guide 7.  Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.  U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into SEC Industry Guide 7 reserves.

(2) Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This press release and the PEA referred to in this press release use the terms "Measured Resources", "Indicated Resources" and "Measured & Indicated Resources." We advise U.S. investors that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures.  The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC.  U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into SEC Industry Guide 7 reserves.

(3) Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: This press release and the PEA referred to in this press release use the term "Inferred Resources". We advise U.S. investors that while this term is defined in and required by Canadian regulations, this term is not a defined term under SEC Industry Guide 7 and is normally not permitted to be used in reports and registration statements filed with the SEC. "Inferred Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Resource will ever be upgraded to a higher category. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures.  The term "contained gold ounces" used in this press release is not permitted under the rules of the SEC.  U.S. investors are cautioned not to assume that any part or all of an Inferred Resource exists or is economically or legally minable.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as the production and economic analysis and forecasts, estimates of mineral reserves and resources, the conversion of inferred resources to measured and indicated resources, the conversion of mineral resources to mineral reserves, life of mine estimates, the potential for gold resources in the Batman deposit and other targets within the Mt. Todd gold project, the waste-to-ore ratio at the Mt. Todd gold project, the successful completion of a metallurgical testing program at the Mt. Todd gold project, the completion of a Mt. Todd pre-feasibility study for the Sensitivity Case, future gold prices, future U.S.-to-Australian dollar exchange rates, the improved efficiencies of high pressure grinding roll technology, the effect of copper on leaching at the Mt. Todd gold project, operating efficiencies at the Mt. Todd gold project, revenues from the future sale of electricity generated at the Mt. Todd into the grid and the use of those revenues to cover reclamation costs, the recovery of lime from lime-stone deposits at the Mt. Todd gold project, the favorable effects of Mt. Todd gold project economics, the Base Case and Sensitivity Case production and economic highlights, favorable effects of Mt. Todd project economics and Vista's ability to add value in a cost-effective manner, the estimated operating and capital costs and the cash flow analysis and sensitivity analysis in the Mt. Todd Preliminary Economic Assessment and the Mt. Todd Preliminary Feasibility Study, and anticipated processing capacity and tailings management and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "optimistic", "potential", "indicate", "expect", "intend", "hopes," "believe," "may," "will," "if, "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty of reserve and resource estimates, estimates of results based on such reserve and resource and reserve estimates; risks relating to completing metallurgical testing and scheduling for a pre-feasibility study on the Sensitivity Case; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays at the Mt. Todd gold project; risks related to decreased efficiencies from the high pressure grinding roll technology, risks related to copper affecting the leaching at the Mt. Todd gold project, risks related to the generation and sale of electricity produced at the Mt. Todd gold project to cover reclamation costs, risks related to the ability to economically recover lime from lime-stone deposits at the Mt. Todd gold project, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; risks related to repayment of debt; risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed August 6, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Without limiting the foregoing, this press release uses terms that comply with reporting standards in Canada and certain estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosures an issuer makes of scientific and technical information concerning mineral projects.  All mineral resource and reserve estimates contained in this press release, including the terms "measured mineral resources," "indicated mineral resources", "inferred mineral resources", "proven mineral reserves" and "probable mineral reserves" have been prepared in accordance with NI 43-101, and these standards differ significantly from the requirements of the SEC.  The resource and reserve information contained in this press release is not comparable to similar information disclosed by U.S. companies.  See the Cautionary Notes to U.S. Investors above.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

DENVER, Aug. 9 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX & NYSE Amex: VGZ) ("Vista" or the "Corporation") announced today its financial results for the quarter and six months ended June 30, 2010, as filed on August 6, 2010, with the United States Securities and Exchange Commission (the "SEC")  and the relevant securities regulatory authorities in Canada in the Corporation's Quarterly Report on Form 10-Q, and announces a management quarterly conference call scheduled for Thursday, August 12, 2010, at 1:00 P.M. MDT.

Results from Operations

All dollar amounts in this press release are in United States dollars, unless otherwise noted.

Our consolidated net loss for the three-month period ended June 30, 2010, was $4.2 million or $0.09 per share compared to consolidated net earnings of $3.9 million or $0.11 per share for  the same period in 2009.  Our consolidated net loss for the six-month period ended June 30, 2010, was $5.9 million or $0.13 per share compared to consolidated net earnings of $2.0 million or $0.06 per share for the same period in 2009.  For both the three- and six-month periods, the increases in the consolidated net losses of $8.0 million and $7.9 million from the respective prior periods are primarily due to decreases in the gain on disposal of marketable securities of $6.8 million and $6.6 million from the respective prior periods.  The gain during the 2009 periods was the result of the sale of our Allied Nevada Gold Corp. ("Allied") shares which we retained in connection with the transaction that resulted in the formation of Allied and the transfer of Vista's Nevada properties to Allied.  Also contributing to the increase in net losses for both the three- and six-month periods was an increase in the loss on early extinguishment of our senior secured convertible notes (the "Notes") of $2.0 million for both the three- and six-month periods ended June 30, 2010.  On May 20, 2010, we entered into a Notes repurchase agreement whereby we repurchased $5.7 million of outstanding principal amount of Notes in exchange for cash and common shares of the Corporation ("Common Shares").

Exploration, property evaluation and holding costs

Exploration, property evaluation and holding costs were $0.5 million for the three-month period ended June 30, 2010 and $1.0 million for the six-month period ended June 30, 2010, as compared with $0.3 million and $0.6 million for the same periods in 2009. For both the three-month and six-month periods, there were no significant variances as we continue to move our projects towards development decisions.

Corporate administration and investor relations

Corporate administration and investor relations costs increased to $1.1 million during the three-month period ended June 30, 2010, compared with $1.0 million for the same period in 2009.  The increase of $0.1 million from the respective prior period is primarily due to an increase in legal costs of $0.1 million and an increase in audit, tax and other accounting-related fees of $0.05 million.  These amounts have been partially offset by a decrease in stock-based compensation expense of $0.04 million.

Corporate administration and investor relations costs increased to $2.1 million for the six-month period ended June 30, 2010 compared with $2.0 million for the same period in 2009.  The increase of $0.08 million from the respective prior period is primarily due to an increase in legal fees of $0.07 million, an increase in freight and shipping expenses related to the year end mailing of shareholder materials of $0.05 and an increase in audit, tax and other accounting-related fees of $0.04 million.  These amounts have been partially offset by a decrease in stock-based compensation expense of $0.1 million.

Interest expense

Interest expense of $0.5 million during the three-month period ended June 30, 2010 and $1.1 million during the six-month period ended June 30, 2010 was slightly less than $0.6 million and $1.2 million for the same periods in 2009.  This slight decrease is attributable to the repurchase of $1.3 million in principal amount of the Notes in July 2009 and the repurchase of $5.7 million in principal amount of the Notes in May 2010. For the three-month period ended June 30, 2010, $0.2 million is attributable to the accretion of the debt discount and $0.3 million is attributable to interest expense.  For the six-month period ended June 30, 2010, $0.5 million is attributable to the accretion of the debt discount and $0.6 million is attributable to interest expense.  These amounts are approximately 24% of the full interest expense associated with the issuance of the Notes.  We capitalized the remaining 76% as additions to mineral properties in accordance with ASC 835-20 Capitalization of Interest and our accounting policy.

Other income and expense

Gain on disposal of marketable securities

There were no gains or losses on the disposal of marketable securities for the three-month period ended June 30, 2010, compared with a gain of $6.8 million for the same period in 2009.  The gain for the three-month period in 2009 resulted from the sale of securities that had a book value of $2.2 million.

For the six-month period ended June 30, 2010, we realized a gain of $0.2 million on the disposal of marketable securities, compared with a gain of $6.8 million for the same period in 2009.  The gain for the six-month period in 2010 resulted from the sale of securities that had a book value of $0.01 million and the gain for the same period in 2009 resulted from the sale of securities that had a book value of $2.2 million.

For both the three- and six-month periods ended June 30, 2010, the decreases in gains were mostly the result of our sale on April 3, 2009, of all of our 1,529,848 common shares of Allied for $9.0 million.  These shares had a book value of $2.2 million.

At June 30, 2010, we held marketable securities available for sale with a quoted market value of $0.9 million.  We purchased the securities for investing purposes with the intent to hold the securities until such time as it would be advantageous to sell the securities at a gain. Although there can be no reasonable assurance that a gain will be realized from the sale of the securities, we monitor the market status of the securities consistently in order to mitigate the risk of loss on the investment.

Loss on early extinguishment of convertible notes

On May 20, 2010, we entered into a Notes Repurchase Agreement (the "Agreement") with Whitebox Advisors LLC ("Whitebox") whereby we agreed to repurchase their remaining Notes.

Pursuant to the Agreement, we agreed to repurchase Notes in the principal amount of $5.7 million and to settle interest payable through maturity on the Notes of $0.7 million.  We agreed to pay Whitebox $2.2 million in cash and to issue to them 1,902,684 in Common Shares, at a price of $2.15 per Common Share, as consideration for the aggregate principal amount of the Notes and interest payable of $6.4 million. We allocated the consideration paid on the repurchase of the Notes to the liability and equity elements of the security based on their relative fair values at the date of the Agreement as is required under Emerging Issues Committee Abstract no. ("EIC-96"), "Accounting for the Early Extinguishment of Convertible Securities Through (1) Early Redemption or Repurchase and (2) Induced Early Conversion".  The accounting treatment in EIC- 96 requires us to compare the number of Common Shares that would have been issued if the note-holder had exercised its option under the original terms of the Notes to convert the Notes into Common Shares priced at $4.80, compared to the number of Common Shares issued under the Agreement. The additional Common Shares issued are treated as additional consideration to the noteholders, resulting in the recognition of a  loss of $2.0 million in our Consolidated Statement of Earnings and (Loss) as a result of the Notes repurchase. This was not a cash loss and, in the opinion of the Corporation's board and audit committee does not represent an economic loss to our shareholders.   There were no similar transactions during the 2009 period.

The Agreement was initiated by Whitebox and was not the result of any solicitation by or on our behalf. We have not initiated any broader efforts to repurchase or restructure any of our remaining Notes and did not act upon the basis of material non-public information in determining whether to enter into the Agreement.  The Common Shares issued have not been registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws and were issued pursuant to exemptions from such registration requirements.

Financial Position, Liquidity and Capital Resources

Cash used in operations

Net cash used in operating activities was $2.7 million for the three-month period ended June 30, 2010, compared to $3.0 million for the same period in 2009.  The decrease of $0.3 million is mostly the result of a decrease of $0.3 million in the amount of interest paid on the Notes.  We repurchased $1.3 million in principal amount of the Notes in July 2009 and $5.7 million in principal amount of the Notes in May 2010, therefore the outstanding principal balance upon which we pay interest on was less during the 2010 period as compared with the 2009 period.

Net cash used in operating activities was $4.3 million for the six-month period ended June 30, 2010, compared to $4.2 million for the same period in 2008.  The slight increase of $0.1 million is mostly the result of the decrease in interest paid of $0.4 million, as noted above, and has been partially offset by an increase in cash used for other current assets of $0.3 million.

Investing activities

Net cash used in investing activities was $3.5 million for the three-month period ended June 30, 2010, as compared to net cash provided by investing activities of $8.4 million for the same period in 2009.  The increase in cash used by investing activities of $11.9 million is due to the following:

• A decrease in the proceeds from the sale of marketable securities of $9.0 million.  On April 3, 2009, we sold all 1,529,848 common shares of Allied that we held for $9.0 million;
• An increase in cash used for additions to mineral properties of $2.7 million.  During the 2010 period we undertook a drilling program at the Mt. Todd gold mine.  There were no similar programs during the 2009 period; and
• A decrease in the proceeds received upon the disposal of mineral property.  In June 2009, we sold most of the remaining patented mining claims in Colorado for $0.2 million.  There were no similar transactions during the 2010 period.

Net cash used in investing activities was $5.2 million for the six-month period ended June 30, 2010, as compared to net cash provided by investing activities of $7.3 million for the same period in 2009.  The increase in cash used in investing activities of $12.4 million is mostly the result of the same items that increased cash used for the three-month period including: a decrease in the proceeds from the sale of marketable securities of $8.8 million, an increase in cash used for additions to mineral properties of $3.8 million and a decrease in the proceeds received upon the disposal of mineral properties of $0.2 million.  Offsetting these increases were an increase in cash provided for short-term investments of $0.3 million and a decrease in cash used in the additions to plant and equipment of $0.1 million.

Financing activities

Net cash used in financing activities was $2.2 million for both the three- and six-month periods ended June 30, 2010.  There was no cash provided by or used in financing activities for the same periods during 2009.  The cash used in financing activities for both the three- and six-month periods ended June 30, 2010 was the result of the cash consideration paid for the repurchase of $5.7 million in principal amount of Notes on May 20, 2010.

Liquidity and Capital Resources

At June 30, 2010, our total assets were $88.7 million compared to $92.6 million at December 31, 2009, representing a decrease of $3.9 million.  At June 30, 2010, we had negative working capital of $3.7 million as compared with positive working capital of $29.4 million at December 31, 2009, representing a decrease of $33.0 million.  This decrease relates primarily to a reclassification of the Notes to a short-term debt obligation of $21.2 million as of June 30, 2010 as compared to a long-term debt obligation of $24.9 million as of December 31, 2009.  The Notes come due on March 4, 2011.  Also contributing to the decrease is a decrease in cash balances of $11.7 million from December 31, 2009 as well as a decrease in our marketable securities of $0.2 million from December 31, 2009.

The principal components of working capital at June 30, 2010 are cash and cash equivalents of $16.7 million and the Notes of $21.2 million.  The principal component of working capital at December 31, 2009 was cash and cash equivalents of $28.4 million.  Other components include marketable securities (June 30, 2010 - $0.9 million; December 31, 2009 - $1.2 million) and other liquid assets (June 30, 2010 - $0.9 million; December 31, 2009 - $0.8 million).

As a result of the delay in the issuance of the Change of Forest Land Use Permit ("CUSF") at the Paredones Amarillos gold project and the current uncertainty in the resource and financial markets, management has adopted a revised plan and budget for the year 2010. The plan continues those programs necessary to expedite the development of the Paredones Amarillos gold project and to advance the Mt. Todd gold project Pre-Feasibility Study, while minimizing expenditures in other areas. The budget estimates that, in the event that financing for the Paredones Amarillos gold project is not available on acceptable terms in 2010, we would have sufficient working capital to fund our planned operations at least through the end of 2010, without additional financing. We will continue to examine potential funding alternatives for the project, which may include project financing, debt financing or equity financing.

On March 4, 2011, the $23.0 million principal balance of the Notes will come due.  Presently, we do not have sufficient capital to meet this obligation.  We are currently examining potential alternatives for raising the additional capital needed, which could include public offerings, other equity financings, or project financing if and when the CUSF is obtained for the Paredones Amarillos gold project.  We may also consider potential renegotiation of the terms of the original Notes.  While we have been successful in the past with raising funds through equity and debt financings, and although the current sustained high gold prices have increased investor interest in the gold market and, in addition, we have a shelf-registration effective in order to expedite the completion of a public equity offering, no assurances can be given that we will be successful in raising such funds in the future.

The selected financial data including the results of operations for the three-month and six-month periods ended June 30, 2010 compared to the 2009 periods, and the financial positions as at June 30, 2010 compared to December 31, 2009, is summarized in the following table:

Management Conference Call

To review Vista's Quarterly Report on Form 10-Q for the fiscal quarter ending June 30, 2010, including our Management Discussion & Analysis, visit either www.sedar.com, www.sec.gov or www.vistagold.com.   A conference call with management to review our financial results for the quarter ended June 30, 2010 and to discuss corporate and project activities is scheduled on Thursday, August 12, 2010, at 1:00 p.m. MDT.

Toll-free in North America:  1-866-782-8903

International:  1-647-426-1845

This call will also be web-cast and can be accessed at the following web location:

http://www.snwebcastcenter.com/event/?event_id=1075

This call will be archived and available at www.vistagold.com after August 12, 2010.  Audio replay will be available for three weeks by calling in North America:  1-866-245-6755, passcode 409766.

If you are unable to access the audio or phone-in on the day of the conference call, please feel free to email questions to Connie Martinez, Manager - Investor Relations, (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) and we will try to address these questions prior to or during the conference call.

About Vista Gold Corp.

Vista is focused on the development of the Paredones Amarillos gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the resolution of permitting matters at the Paredones Amarillos gold project, the Corporation's strategy for advancement of the permitting process for the Paredones Amarillos gold project, the expected timeframe for the refiling of the CUSF application, the continuation of the advancement of the Paredones Amarillos gold project, the timing for commencement of construction, development and production for the Paredones Amarillos gold project, the potential to enhance the project economics of the Mt. Todd gold project through additional resource drilling, including drilling at the Quigley deposit, the timing for completion and expected results of the preliminary feasibility study on the Mt. Todd gold project, favorable effects of Mt. Todd project economics, the results of the PEA on the Mt. Todd gold project, and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty regarding the amendment and re-filing of the CUSF application, uncertainty regarding the review by the Mexican Secretariat of the Environment and Natural Resources ("SEMARNAT") of the amended CUSF application, risks related to the Corporation's failure to obtain approval of the CUSF and begin construction of its Paredones Amarillos gold project, including unanticipated delays in beginning construction of the project due to a lack of obtaining the CUSF and the possible reduction of mineral reserves to mineral resources, uncertainty regarding potential court action against SEMARNAT in relation to the dismissal of the CUSF application and risks related to the outcome of such court action, including failure to receive approval of the CUSF application, uncertainty regarding the Corporation's legal challenges to SEMARNAT's issues with the CUSF application and SEMARNAT's authority in reviewing the CUSF application, uncertainty and risks regarding any political factors influencing the approval of the CUSF, possible impairment or write down of the carrying value of the Paredones Amarillos gold project if the CUSF is not granted, uncertainty of resource and reserve estimates, estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risk regarding the preliminary feasibility study for the Mt. Todd gold project, risks relating to the delays at the Mt. Todd gold project, risks related to the potential grade and production at the Quigleys deposit, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and other documents filed with the SEC and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

All mineral reserves and resources have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in National Instrument 43-101, commonly referred to as NI 43-101. U.S. reporting requirements for disclosure of mineral properties are governed by SEC Industry Guide 7. Canadian and SEC Industry Guide 7 standards are substantially different and the information contained in the documents referenced in this press release and the PEA are not comparable to similar information disclosed by U.S. companies  The documents referenced in this press release and the PEA referenced in this press release use the terms "measured," "indicated," and "inferred" resources. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that enable them to be categorized as mineral reserves. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

DENVER, July 19 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex: VGZ) announced an update on its wholly owned Paredones Amarillos gold project (the "Project") located in Baja California Sur, Mexico ("BCS").  The update discusses the status of the Change of Forest Land Use ("CUSF") permit application, technical programs in progress, and a general overview of the development of the Project.  The Project is held by Vista's wholly owned Mexican subsidiary, Minera Paredones Amarillos, S.A. de C.V. ("MPA").

Change of Forest Land Use Permit Application Status

On February 19, 2010, the Company announced that the Mexican Secretariat of Environment and Natural Resources ("SEMARNAT") had dismissed the Company's application for the CUSF.  In its dismissal, SEMARNAT had questioned the validity of the Temporary Occupation Permits ("TOP") issued by the General Direction of Mines in the Secretariat of Economy, which were required as part of the CUSF application.  SEMARNAT also identified the need for additional technical studies.

The Project is located in a special use area on the northern limit of the buffer zone of the Sierra de La Laguna Biosphere (the "Biosphere").  In the immediate Project area, the surface land is divided between land owned directly by the Company and a parcel of federal land which has yet to be defined by a survey on the ground.  The TOP apply to both the privately held land and the federal land.  In questioning the validity of the TOP, SEMARNAT has requested confirmation of the boundaries of the federal land, and is seeking to determine if some or part of the federal land is subject to a prior request by the Mexican National Commission for Natural Protected Areas ("CONANP") to be the administrator of the federal land. The Company expects that the Secretariat of Agrarian Reform ("SRA") will release shortly the survey results and clarify what part of the federal land is subject to CONANP's claim. Subsequently, MPA expects SRA to grant CONANP's request to become the administrator of the applicable part of the federal land in accordance with their previous request. CONANP has indicated that it will administer the federal land which lies within the buffer zone of the Biosphere in accordance with the established management plan, which authorizes mining activities in the area of the Project.  The Company expects this process to result in the validation of the TOP and recognition of such by SEMARNAT.  Following the validation of the TOP, MPA will submit a new CUSF application.  The timing for completion of these types of bureaucratic processes is uncertain but the Company hopes to be in a position to submit the CUSF application by the end of the third quarter of this year.

MPA is also working to resolve the minor deficiencies identified in SEMARNAT's dismissal of the CUSF application (please refer to Vista's press release dated February 19, 2010). MPA has contracted SRK Consulting (U.S.), Inc. of Denver, Colorado, and several BCS academic institutions to review, analyze and validate some of the information submitted as part of the CUSF application. This will include additional hydrogeologic studies, surface run-off calculations and a review of certain baseline environmental data.  The results will be submitted as part of the CUSF application. MPA has retained the services of Herrera Ordonez Abogados, a law firm based in Mexico City, to compile and submit the new CUSF application. The principal lawyer in charge of MPA's work is Mr. Hector Herrera who is a past chairman of the Mexican Bar Association's Environmental Commission and has an extensive background in working with SEMARNAT.

Preliminary Project Design, Permitting Support and Other Activities

Vista has contracted ICA Fluor with offices in Mexico City, Mexico, and Dublin, California, to be the engineering, procurement and construction management contractor for the Project.  ICA Fluor's initial scope of work includes basic engineering in support of permitting activities.  ICA Fluor is coordinating design work on the access road, main power transmission line, processing plant, tailings impoundment facility, desalination plant and water supply pipeline.

Following the submission of the new CUSF application, MPA intends to present to SEMARNAT the documents to modify and extend the Project's environmental permits that were issued in 1997 and, unless extended by MPA, will expire in 2012.  The modifications will reflect the many design changes made to improve the Project and enhance environmental protections which are now incorporated into Vista's proposed development.

MPA is in the process of finalizing the remaining rights-of-way for the power transmission line and water supply pipeline and is also in the process of preparing appropriate permit applications for both.

VWS Mexico, S.A. de C.V. has been contracted to provide engineering and permitting support for the desalination plant. Final studies for the design of the facility are in progress and will be completed shortly.  Upon completion, the Company intends to file the appropriate permit applications.

MPA has established ASUDES, a civil association (similar in function to a foundation). The goals of ASUDES are to promote improved access to health care and more educational opportunities for members of the Project's community.  A number of programs have been established in the area of health and education which have been well received by the local communities.

Fred Earnest, Vista's President and COO, stated, "We have made significant progress in establishing a better understanding of the Project's permitting status and have improved our working relationship with the regulatory agencies involved. Our recently appointed General Manager, Hector Araya, has come up to speed very quickly and is building strong relationships with the community and local leaders of public opinion.  We are working towards submitting the new CUSF application by the end of the third quarter, and if that occurs, we would expect it to be processed and approved early in the first quarter of 2011. In the meantime, we are undertaking various engineering programs to minimize the construction period, currently estimated to be fifteen months, which means that gold production could start by mid 2012."

About Vista Gold Corp.

Vista is focused on the development of the Paredones Amarillos gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the amendment of the CUSF application and the anticipated re-filing of the CUSF application  with  SEMARNAT, the Company's  belief  that SEMARNAT's comments on the CUSF application are without legal merit or beyond the scope of SEMARNAT's legal authority, the possible court challenge to SEMARNAT's notice, the Company's strategy for advancement of the permitting process for the Project, the possible reduction of reserves at the Project if the CUSF cannot be obtained, the timing for commencement of construction, development and production for the Project, estimates of mineral resources and mineral reserves, the potential to enhance the project economics of the Mt. Todd gold project through additional resource drilling, the timing for completion and expected results of the pre-feasibility study, favorable effects of Mt. Todd gold project economics, the results of the preliminary economic assessment, and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty regarding the amendment and re-filing of the CUSF application, uncertainty regarding SEMARNAT's review of the amended CUSF application, risks related to the Company's failure to obtain approval of the CUSF application and begin construction of its Project, including unanticipated delays in beginning construction of the project due to a lack of obtaining the CUSF and the possible reduction of mineral reserves to mineral resources, uncertainty regarding potential court action against SEMARNAT in relation to the dismissal of the CUSF application and risks related to the outcome of such court action, including failure to receive approval of the CUSF application, uncertainty regarding the Company's legal challenges to SEMARNAT's issues with the CUSF application and SEMARNAT's authority in reviewing the CUSF application, uncertainty and risks regarding any political factors influencing the approval of the CUSF application, possible impairment or write down of the carrying value of the Project if the CUSF is not granted,  uncertainty of resource and reserve estimates, estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risks regarding the pre-feasibility study, risks relating to the delays at the Mt. Todd gold project, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which Vista operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010 and Quarterly Report on Form 10-Q, as filed May 10, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

Without limiting the foregoing, this press release uses terms that comply with reporting standards in Canada and certain estimates are made in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").  NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosures an issuer makes of scientific and technical information concerning mineral projects.  All mineral resource estimates contained in this press release, including the terms "measured mineral resources," "indicated mineral resources" and "inferred mineral resources", have been prepared in accordance with NI 43-101, and these standards differ significantly from the requirements of the U.S. Securities and Exchange Commission.  Mineral resources that are not mineral reserves have no demonstrated economic viability.  The resource information contained in this press release is not comparable to similar information disclosed by U.S. companies.  

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

DENVER, June 29 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) announced today the discovery of a new exploration target located on its Exploration Tenements held together with the Mining Leases at the Company's Mt. Todd gold project in Northern Territory ("NT"), Australia. Vista also provided updates on the progress of a drilling program at the Batman deposit and announced that the Pre-Feasibility Study for the Mt. Todd gold project is nearing completion.

New Exploration Target Discovery

Vista controls a large land package (160,878 hectares) of Exploration Tenements surrounding the Mt. Todd gold project. As part of a comprehensive exploration effort based on results from an airborne magnetic survey and geochemical soil sampling by the Company, Vista's geologists have identified four new gold bearing zones for potential follow up with additional sampling and testing.  Of note, at the target identified as MSTS-4, rock chip sampling in an area with limited exposure, returned a 25.0 g/t gold sample from a small outcrop of fault breccia.  Follow-up sampling returned 23.0 g/t and 7.7 g/t gold assays in vein and breccias located 15 meters and 50 meters, respectively, north of the original sample.   Due to the sparse outcrop, the orientation and thickness of the mineralized zone is not currently known, but Vista's management believes that these initial results are significant, and together with historically identified exploration targets support the potential for development of additional resources at the Mt. Todd gold project.  Further mapping and sampling is in progress and multi-element analysis results are pending.  Samples were collected by employees of Vista Gold Australia and analysis was completed by Northern Australian Laboratories in Pine Creek, NT.  The Company plans to conduct reverse circulation drilling in the area of this new discovery and the other targets later this year.

Batman Deposit Drilling Update

As previously announced, the Company undertook an additional drilling program at the Batman deposit at the Mt. Todd gold project.  The Company has now completed 14 core and six reverse circulation drill holes (8,291 total meters drilled) in a program designed to add resources through in-fill drilling in the parallel structures to the east of the core zone of the Batman deposit, to test/condemn hypothesized extensions of the deposit along strike and to the west of the core zone, and to provide core for metallurgical testing.  The program concluded with the in-fill drilling of the parallel structures on the east of the Batman deposit.  Assays have not yet been completed for the last holes of the program.  The drill holes were oriented to the west to intersect the core zone at right angles and were inclined at -55 to -60 degrees.  

Vista also drilled three core holes totaling 1,469 meters, that were located and oriented to provide core samples for metallurgical testing, representative of the Batman deposit, in the area of the pit defined by the June 2009 Mt. Todd Preliminary Economic Assessment ("PEA").  The holes were drilled at -20 to -30 degree dips, at an acute angle to the strike of the deposit and were not assayed due to the requirements for whole core to be used in the planned metallurgical testing program.

The drilling has been completed and the core has been logged, photographed and sampled by employees of Vista Gold Australia under the direction of Vista's Vice President of Exploration, Mr. Frank Fenne P.G., who is a "qualified person" within the meaning of Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects ("NI 43-101").  Core to be assayed has been shipped to ALS-Chemex sample prep lab in Alice Springs, Australia.  Prepared sample pulps are shipped by ALS-Chemex to its assay lab in Perth, Australia.  Core logging and sample custody, preparation and assaying were completed in compliance with NI 43-101 standards.

Mt. Todd Gold Project Pre-Feasibility Study Update

The Company also announced that it continues to advance its Pre-Feasibility Study ("PFS") for the Mt. Todd gold project and that the PFS is expected to confirm the principal metallurgical parameters used in the positive PEA for the Mt. Todd gold project announced in June 2009 and updated in August 2009.  As previously announced, the completion of the PFS has been delayed to allow additional engineering work in the areas of power generation/supply, tailings disposal/storage and the supply of lime for process and water treatment needs.   The Company expects to complete the PFS and announce its results in the third quarter of this year.  

The Company further announced that it has notified the Government of the Northern Territory that, based on its on-going positive results at the Mt. Todd gold project, the Company intends to extend its agreement with the Northern Territory Government related to the Mt. Todd gold project for an additional five-year period ending at the end of 2015.  

Tetra Tech Inc. of Golden, Colorado, is contracted to manage and prepare the PFS in accordance with NI 43-101.  The PEA was prepared under the direction of Mr. John Rozelle, an independent qualified person under NI 43-101.  The results of the PEA are outlined in a NI 43-101 technical report entitled "Mt. Todd Gold Project Updated Preliminary Economic Assessment Report, Northern Territory, Australia" and is dated June 11, 2009.  The PEA is available on SEDAR at www.sedar.com. John Rozelle is the independent "qualified person", within the meaning of NI 43-101, who supervised the preparation of the scientific and technical information contained in this press release.

About Vista Gold Corp.

Vista is focused on the development of the Paredones Amarillos gold project in Baja California Sur, Mexico, and the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, estimates of mineral resources, the conversion of inferred mineral resources to measured and indicated resources, the conversion of mineral resources to mineral reserves, the potential to expand the resource base at the Mt. Todd gold project, the potential to enhance the project economics of the Mt. Todd gold project through engineering studies and the drill program, the anticipated timing, design and expected results of the drill program at the Mt. Todd gold project, the timing and results of future sampling and testing at the Exploration Tenements, the timing for completion and expected results of the PFS for the Mt. Todd gold project, the timing for commencement of the definitive feasibility study for the Mt. Todd gold project the potential for gold resources in the Batman deposit and other targets within the Mt. Todd gold project, future gold prices, the confirmation of the metallurgical parameters of the Mt. Todd gold project, favorable effects of Mt. Todd gold project economics, the results of the PEA, and other such matters are forward-looking statements and forward-looking information.  When used in this press release, the words "optimistic," "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if," "anticipate," and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty of resource estimates, estimates of results based on such resource estimates; risks relating to completing metallurgical testing; risks relating to cost increases for capital and operating costs; risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risk regarding the PFS, risks relating to the delays at the Mt. Todd gold project; risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; risks related to repayment of debt; risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Quarterly Report on Form 10-Q, as filed May 10, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

All mineral reserves and resources in this press release and in the PEA referenced in this press release have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in National Instrument 43-101,  U.S. reporting requirements for disclosure of mineral properties are governed by the United States Securities and Exchange Commission (SEC) Industry Guide 7. Canadian and Guide 7 standards are substantially different and the information contained in this press release and the PEA are not comparable to similar information disclosed by U.S. companies  This press release and the PEA referenced in this press release use the terms "measured," "indicated," and "inferred" resources. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that enable them to be categorized as mineral reserves. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE Vista Gold Corp.

Vista Gold Corp. ("Vista" or the "Corporation") (TSX & NYSE Amex: VGZ) today announced that it has closed its previously announced repurchase of an aggregate of US$5,667,000 in principal amount of its 10% senior secured convertible notes (the "Notes") due March 4, 2011 from a Noteholder, pursuant to the terms of a repurchase agreement dated May 13, 2010 (the "Agreement").

Under the terms of the Agreement, Vista paid the Noteholder US$2,232,798 in cash and 1,902,684 in common shares in the capital of the Corporation in consideration for the Notes and interest due to maturity. The common shares were issued at a price of US$2.15 per share. Vista's weighted average price per share was US$2.32 on the NYSE Amex Equities Stock Exchange for the five trading days before the execution of the Agreement.

The Notes repurchased by Vista have been cancelled, and US$23 million principal amount of Notes remain outstanding.

About Vista Gold Corp.

Vista is focused on the development of the Paredones Amarillos gold project in Baja California Sur, Mexico and the Mt. Todd gold project in Northern Territory, Australia to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

The 1,902,684 common shares of the Corporation issued pursuant to the terms of the Agreement have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future are forward-looking statements and forward-looking information. When used in this press release, the words "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipates" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Vista's latest Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

CONTACT: Connie Martinez, +1-720-981-1185, for Vista Gold Corp.

Web Site: http://www.vistagold.com/

Vista Gold Corp. ("Vista" or the "Corporation") (TSX & NYSE Amex: VGZ) today announced that it has reached an agreement (the "Agreement") to repurchase an aggregate of US$5,667,000 in principal amount of its 10% senior secured convertible notes (the "Notes") due March 4, 2011 from a Noteholder, originally purchased by the Noteholder on behalf of managed accounts on March 4, 2008.

Under the terms of the Agreement, Vista has agreed to pay the Noteholder US$2,232,798 in cash and 1,902,684 in common shares in the capital of the Corporation in consideration for the Notes and interest due to maturity. The common shares to be issued are priced at US$2.15 per share. Vista's weighted average price per share was US$2.32 for the previous five trading days on the NYSE Amex Equities Stock Exchange. Upon closing of the transaction, the Notes repurchased by Vista will be cancelled, and US$23 million principal amount of Notes will remain outstanding.

The closing of the repurchase of the Notes is subject to the receipt of all required approvals, including the approval by the TSX and the NYSE Amex. If all required approvals are obtained, Vista expects the repurchase of the Notes to close on or about May 20, 2010.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would increase their value. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com. Vista has undertaken programs to advance the Paredones Amarillos gold project, located in Baja California Sur, Mexico, including a definitive feasibility study, the purchase of long delivery equipment items, and the purchase of land for the processing facilities, related infrastructure and the desalination plant. The results of a preliminary economic assessment completed in 2009 on the Mt. Todd gold project in Australia are encouraging and Vista is undertaking a pre-feasibility study and additional resource drilling to advance the project. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, Yellow Pine gold project in Idaho, Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

The common shares of the Corporation to be issued pursuant to the terms of the Agreement have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sale or the solicitation of an offer to buy any securities.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as receipt of all required approvals for the transaction, and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipates" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and Vista's latest Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

CONTACT: Connie Martinez of Vista Gold Corp., +1-720-981-1185

Web Site: http://www.vistagold.com/

Vista Gold Corp. ("Vista" or the "Corporation") (TSX & NYSE Amex: VGZ) today announced:

  --  An update on its principal project activities;
  --  The Corporation's financial results for the quarter ended March 31,
      2010, as filed on May 10, 2010 with the U.S. Securities and Exchange
      Commission and the relevant Canadian securities commissions in its
      Quarterly Report on Form 10-Q; and
  --  A conference call with management scheduled for Wednesday, May 12,
      2010, at 2:00 P.M. (EDT).


  Project Activity Update

  Paredones Amarillos, Baja California Sur, Mexico

The Corporation is pleased to announce that Hector Araya has joined Vista as Vice President, and has been appointed General Manager and Legal Representative of Minera Paredones Amarillos, S.A. de C.V., the Corporation's wholly-owned subsidiary that holds the Corporation's Paredones Amarillos gold project located in Baja California Sur, Mexico. Mr. Araya is an experienced mining executive and a mining engineer with post-graduate studies in Mineral Economics and in Environmental Engineering. He has been responsible for the development, start-up and operation of a number of mining operations in Latin America including the Petorca and Fachinal mines in Chile; the Pimenton gold mine in Central Chile; the El Callao project in Bolivar state, Venezuela; and he has also worked in the corporate offices of Hochschild Mining P.L.C. Mr. Araya will be based in La Paz, Baja California Sur, Mexico and will be responsible for advancing the permitting process at Paredones Amarillos, local, regional and national government relations, and overseeing the day to day development activities for the Paredones Amarillos gold project.

The Corporation is presently undertaking various communication programs and technical studies to support a new Change of Forest Land Use Permit ("CUSF") application, which is required in order for the Corporation to commence construction at the Paredones Amarillos gold project. The Corporation expects to present the new CUSF application in the third quarter of this year.

Mt. Todd, Northern Territory, Australia

The Corporation is working to complete the previously announced Preliminary Feasibility Study ("PFS") for its Mt. Todd gold project in Northern Territory, Australia. The completion of the PFS has been delayed as the Corporation undertakes various modifications to the Preliminary Economic Assessment's ("PEA") scope of work to account for certain economic and technical changes from the June 2009 PEA, including unfavorable moves in the Australian to US dollar exchange rates and the Corporation's determination that it needs to modify the proposed tailings storage plan.

The delay has been further necessitated by a detailed review of historic information by the Corporation's geologists, which has identified a smaller, potentially higher grade deposit (the Quigleys deposit), located just north of the Batman pit area with the potential to supplement and enhance the lower grade feed from the Batman pit during the early years of production. The Quigleys deposit has been extensively drilled previously and the Corporation has planned a small program of confirmatory drilling which is anticipated to begin shortly, in order to prepare a Canadian National Instrument 43-101 compliant estimate of the resources.

The first phase of the 2010 Mt. Todd gold project exploration program is nearing its conclusion. Through May 1st, a total of 1505 meters of reverse circulation drilling and 4498 meters of core have been drilled in the Batman deposit to:

  --  define the limits of mineralization;
  --  evaluate resources in the parallel structures identified in the 2008
      drilling program;
  --  convert inferred resources to measured and indicated resources; and
  --  provide core for continued metallurgical testing.

The next phase of the drilling will provide infill core drilling in the Quigleys deposit, and is expected to be completed by the end of June. The third phase of the drilling program is planned to include 10,000 meters of reverse circulation drilling on four targets on Vista's exploration licenses. Two of these targets have been identified in the last year as the result of an analysis of previously completed magnetic surveys followed by surface soil sampling programs completed during the 2009 exploration season.

Vista Gold First Quarter, 2010 Financial Results

Our consolidated net loss for the three-month period ended March 31, 2010, was US$1.7 million or US$0.04 per Common Share compared to a consolidated net loss of US$1.9 million or US$0.05 per Common Share for the same period in 2009. The decrease in the consolidated net loss of US$0.2 million from the respective prior period is primarily due to a decrease in the write-down of marketable securities of US$0.1 million, an increase in the gain on disposal of marketable securities of US$0.2 million and an increase in the gain on currency translation of US$0.1 million; which has been offset by an increase in the future income tax loss of US$0.2 million.

Net cash used in operating activities was US$1.6 million for the three-month period ended March 31, 2010, compared to US$1.2 million for the same period in 2009. The increase of US$0.4 million is the result of an increase in cash used for accounts payable, accrued liabilities and other of US$0.16 million, and an increase in cash used for other current assets of US$0.30 million.

Net cash used in investing activities increased to US$1.6 million for the three-month period ended March 31, 2010, from US$1.1 million for the same period in 2009. The increase of US$0.5 million is mostly due to an increase in the additions to mineral properties of US$1.1 million, which is offset by an increase in proceeds from the sale of marketable securities of US$0.2 million and an increase in proceeds from short-term investments of US$0.2 million. The increase of US$1.1 million is mostly the result of an undertaking of a drilling program at the Mt. Todd gold project during the three-month period ended March 31, 2010. There were no similar drilling programs during the 2009 period.

There was no cash provided by or used in financing activities for both the three-month periods ended March 31, 2010 and 2009.

At March 31, 2010, Vista's total assets were US$92.1 million compared to US$92.6 million at December 31, 2009, representing a decrease of US$0.5 million. At March 31, 2010, the Corporation had negative working capital of US$0.2 million as compared with positive working capital of US$29.4 million at December 31, 2009, representing a decrease of US$29.4 million. This decrease relates primarily to a reclassification of the senior secured convertible notes (the "Notes") to a short-term debt obligation as of March 31, 2010 as compared to a long-term debt obligation as of December 31, 2009 of US$25.7 million. The Notes come due on March 4, 2011. Also contributing to the decrease is a decrease in cash balances from December 31, 2009 as well as a decrease in our marketable securities from December 31, 2009.

The principal component of working capital at both March 31, 2010 and December 31, 2009, is cash and cash equivalents of US$25.2 million and US$28.4 million, respectively. Other components include marketable securities (March 31, 2010 - US$1.0 million; December 31, 2009 - US$1.2 million) and other liquid assets (March 31, 2010 - US$0.8 million; December 31, 2009 - US$0.8 million).

As a result of the delay in the issuance of the CUSF at the Paredones Amarillos gold project and the current uncertainty in the financial markets, management has adopted a revised plan and budget for the year 2010. The plan continues those programs necessary to expedite the development of the Paredones Amarillos gold project, while minimizing expenditures in other areas. The budget estimates that in the event that financing for the Paredones Amarillos gold project is not available on acceptable terms in 2010, the Corporation has sufficient working capital to fund its planned operations at least through the end of 2010, without additional financing. Vista will continue to examine potential funding alternatives for the Paredones Amarillos gold project, which may include project financing, debt financing or equity financing.

On March 4, 2011, the US$28.7 million principal balance of the Notes will come due. Presently, Vista does not have sufficient capital to meet this obligation and is considering various alternative approaches. These may include equity or debt financing, re-negotiation of the terms of the Notes or, if the CUSF is received shortly, raising the required funds as part of the project financing for the Paredones Amarillos gold project development. The proceeds received upon issuance of the Notes, which are secured by the assets and mining concessions of the Paredones Amarillos gold project, were used to fund the purchase of mill process equipment (approximately US$17.0 million) and the remainder was used to fund ongoing operations at and the development of the Paredones Amarillos gold project. While the Corporation has been successful in the past in raising funds through equity and debt financings, and there is increased investor interest in the gold market because of higher sustained gold prices, no assurances can be given that the Corporation will be successful in raising such funds in the future.

  Selected financial results are tabulated below:



  Selected Financial         Three Months Ended
   Data                          March 31,
                               2010       2009
  U.S. $000's, except
   loss per share
  Results of operations
  Net loss                  $(1,699)   $(1,880)
  Basic and diluted loss
   per share                  (0.04)     (0.05)

  Net cash used in
   operating activities      (1,612)    (1,182)
  Net cash used in
   investing activities      (1,644)    (1,102)
  Net cash provided by
   financing activities           -          -

                                      December
  Financial position      March 31,      31,
                               2010       2009

  Current assets            $26,890    $30,317
  Total assets               92,087     92,573
  Current liabilities        27,123        926
  Total liabilities          27,351     26,093
  Shareholders' equity       64,736     66,480

  Working capital              (233)    29,391

The Annual General and Special Meeting of Vista's shareholders was held on May 3, 2010. Re-elected to the Board of Directors for a one-year term were John M. Clark, W. Durand Eppler, C. Thomas Ogryzlo, Tracy A. Stevenson, Michael B. Richings, and Frederick H. Earnest. PricewaterhouseCoopers LLP was re-appointed as Vista's independent auditors. In addition, shareholders approved the amendments to Vista's stock option plan and approved the long term equity incentive plan described in the information circular for the meeting. Further information regarding these matters may be found in the information circular for the meeting.

Management Discussion & Analysis and Conference Call

To review Vista's Form 10-Q for the quarter ending March 31, 2010, including our Management Discussion & Analysis, visit either www.sedar.com, www.sec.gov or www.vistagold.com. A conference call with management to review our first quarter-end financial results for 2010 and corporate and project activities is scheduled for Wednesday, May 12, 2010 at 2:00 P.M. (EDT).

  Toll-free in North America:  1-866-443-4188
  International:  1-416-849-6196

This call will also be web-cast and can be accessed at the following web location:

http://www.snwebcastcenter.com/event/?event_id=919

This call will be archived and available at www.vistagold.com after May 12, 2010. Audio replay will be available for three weeks by calling in North America: 1-866-245-6755, passcode 178828.

If you are unable to access the audio or phone-in on the day of the conference call, please feel free to email questions, prior to the conference call, addressed to Connie Martinez, Manager - Investor Relations (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) and we will try to address these questions prior to or during the conference call.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would increase their value. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com. Vista has undertaken programs to advance the Paredones Amarillos gold project, located in Baja California Sur, Mexico, including a definitive feasibility study, the purchase of long delivery equipment items, and the purchase of land for the processing facilities, related infrastructure and the desalination plant. The results of a preliminary economic assessment completed in 2009 on the Mt. Todd gold project in Australia are encouraging and Vista is undertaking a pre-feasibility study and additional resource drilling to advance the project. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, Yellow Pine gold project in Idaho, Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the resolution of permitting matters at the Paredones Amarillos gold project, the Corporation's strategy for advancement of the permitting process for the Paredones Amarillos gold project, the expected timeframe for the refiling of the CUSF, the continuation of advancement of the Paredones Amarillos gold project, the timing for commencement of construction, development and production for the Paredones Amarillos gold project, the potential to enhance the project economics of the Mt. Todd gold project through additional resource drilling, including drilling at the Quigley deposit, the timing for completion and expected results of the preliminary feasibility study on the Mt. Todd gold project, favorable effects of Mt. Todd project economics, the results of the PEA on the Mt. Todd gold project, and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty regarding the amendment and re-filing of the CUSF, uncertainty regarding the review by the Mexican Secretariat of Environment of Natural Resources ("SEMARNAT") of the amended CUSF application, risks related to the Corporation's failure to obtain approval of the CUSF and begin construction of its Paredones Amarillos gold project, including unanticipated delays in beginning construction of the project due to a lack of obtaining the CUSF and the possible reduction of mineral reserves to mineral resources, uncertainty regarding potential court action against SEMARNAT in relation to the dismissal of the CUSF application and risks related to the outcome of such court action, including failure to receive approval of the CUSF application, uncertainty regarding the Corporation's legal challenges to SEMARNAT's issues with the CUSF and SEMARNAT's authority in reviewing the CUSF application, uncertainty and risks regarding any political factors influencing the approval of the CUSF, possible impairment or write down of the carrying value of the Paredones Amarillos gold project if the CUSF is not granted, uncertainty of resource and reserve estimates, estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risk regarding the preliminary feasibility study for the Mt. Todd gold project, risks relating to the delays at the Mt. Todd gold project, risks related to the potential grade and production at the Quigleys deposit, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

All mineral reserves and resources have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in National Instrument 43-101, commonly referred to as NI 43-101. U.S. reporting requirements for disclosure of mineral properties are governed by the United States Securities and Exchange Commission (SEC) Industry Guide 7. Canadian and Guide 7 standards are substantially different and the information contained in this press release and the PEA are not comparable to similar information disclosed by U.S. companies This press release and the PEA referenced in this press release use the terms "measured," "indicated," and "inferred" resources. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that enable them to be categorized as mineral reserves. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

CONTACT: Connie Martinez of Vista Gold Corp., +1-720-981-1185

Web Site: http://www.vistagold.com/

Vista Gold Corp. ("Vista" or the "Company") (Amex: VGZ; TSX) announced today its financial results for the year ended December 31, 2009, as filed on March 16, 2010 with the U.S. Securities and Exchange Commission and Canadian regulatory authorities in Vista's Annual Report on Form 10-K. Our 2009 consolidated net loss was US$2.0 million or US$0.05 per share compared to the 2008 consolidated net loss of US$10.0 million or US$0.29 per share for a decrease of US$8.0 million. The decrease of US$8.0 million in 2009 is largely due to an increase in the gain on disposal of marketable securities of US$6.9 million resulting from the sale of common shares of Allied Nevada Gold Corp. ("Allied") which we retained in connection with the transaction that resulted in the formation of Allied and the transfer of Vista's Nevada properties to Allied. Also contributing to the decrease in net loss for 2009 was a gain of US$0.5 million on the repurchase of convertible notes which occurred on July 14, 2009, wherein we repurchased US$1.333 million of our senior secured convertible notes (the "Notes") for US$0.9 million. Other contributing factors include decreases in interest income (US$0.4 million) corporate administration and investor relations (US$0.9 million) and a decrease in the write-down of marketable securities (US$0.5 million), which was offset by an increase in the gain on currency translation (US$0.5 million); and increases in exploration, property evaluation and holding costs (US$0.4 million) and interest expense (US$0.3 million).

Net cash used in operating activities in 2009 was US$7.9 million, compared with US$7.6 million in 2008. The increase of US$0.3 million in 2009 is mostly the result of an increase in interest payments made on June 15, 2009, July 14, 2009 (in conjunction with the repurchase of the Notes) and December 15, 2009 of US$0.6 million. Offsetting this increase, were decreases in cash used in accounts payable, accrued liabilities and other (US$0.2 million) and cash used for other current assets (US$0.3 million).

Net cash received from investing activities in 2009 was US$3.3 million, compared with cash used from investing activities of US$26.9 million in 2008. This increase of US$30.2 million in cash received from investing activities is due to the following:

  --  A decrease in additions to plant and equipment of US$17.5 million.  As
      discussed below, in April 2008 the purchase of gold processing
      equipment to be used at our Paredones Amarillos gold project was
      finalized.  There were no similar equipment purchases during the 2009
      period;
  --  An increase in proceeds received from the sale of marketable
      securities of US$9.0 million.  This increase was primarily due to the
      sale of all 1,529,848 common shares of Allied for proceeds of US$9.0
      million;
  --  A decrease in additions to mineral properties of US$3.3 million.
      During 2008, we undertook a drilling program at the Mt. Todd gold mine
      and were in the process of completing a feasibility study for the
      Paredones Amarillos gold project.  These projects were completed
      during 2008;
  --  A decrease in the acquisition of mineral property of US$0.5 million. 
      On January 24, 2008, we completed the acquisition of interests in
      various mineral properties adjacent to our Guadalupe de los Reyes
      project in Mexico.  The consideration paid by Vista for the
      acquisition of these interests included cash payments totaling $0.5
      million.   There was no similar purchase during the year ended
      December 31, 2009;
  --  An increase in the proceeds received upon the disposal of mineral
      property.  In June 2009, we sold most of the remaining patented mining
      claims in Colorado for US$0.2 million.  There were no similar
      transactions during the 2008 period; and
  --  An increase in cash used for short-term investments of US$0.3 million.

Net cash provided by financing activities was US$19.8 million for the year ended December 31, 2009, compared with US$31.4 million in 2008. The decrease of US$11.6 million is primarily the result of the completion of a public offering on September 21, 2009 and the completion of the over-allotment on September 25, 2009 in which we offered and sold an aggregate 10.12 million Common Shares, for net proceeds after commissions, legal and other fees of US$20.4 million, as compared to the proceeds of a brokered private placement on March 4, 2008 in which we offered and sold US$30.0 million in aggregate principal amount of the Notes. Net proceeds to Vista upon completion of the Notes were US$28.3 million.

At December 31, 2009, our total assets were US$92.6 million, compared to US$75.8 million as of December 31, 2008. Long-term liabilities totaled US$25.2 million at December 31, 2009, compared to US$23.7 million at December 31, 2008. At December 31, 2009, we had working capital of US$29.4 million, compared to US$21.2 million in 2008.

Our working capital of US$29.4 million as of December 31, 2009, increased from 2008 by US$8.2 million. The principal component of working capital for both 2009 and 2008 is cash and cash equivalents of US$28.4 million and US$13.3 million, respectively. Other components include marketable securities (2009--US$1.2 million; 2008--US$8.2 million), short-term investments (2009--US$0.3 million; 2008--$-) and other current assets (2009--US$0.5 million; 2008--US$0.6 million). The increase of US$8.2 million in working capital from 2009 to 2008 relates to the increase in cash balances from 2008 to 2009, which is partially offset by a decrease in marketable securities due to the sale of all of the common shares of Allied held by Vista.

                                        
  Selected Financial Data                           Years ended December 31,
  -----------------------                               -----------------
  US $000's, except loss per share                      2009         2008
  --------------------------------                      ----         ----
  Results of operations
  Net loss                                            $(1,942)      $(9,973)
  Basic and diluted loss per share                     $(0.05)       $(0.29)

  Net cash used in operations                         $(7,883)      $(7,638)
  Net cash provided by (used in) investing activities   3,268       (26,913)
  Net cash provided by financing activities            19,757        31,425

  Financial position
  Current assets                                      $30,317       $22,012
  Total assets                                         92,573        75,765
  Current liabilities                                     926           803
  Total liabilities                                    26,093        24,527
  Shareholders' equity                                 66,480        51,238

  Working capital                                     $29,391       $21,209

Mike Richings, Executive Chairman and CEO, commented on the 2009 financials: "Our financial results continue to reflect high levels of activities at our Paredones Amarillos gold project in Baja Sur California, Mexico, and the Mt. Todd gold project in Northern Territory, Australia. Funding for these programs in 2009 came mainly from working capital and the sale of common shares of Allied. In anticipation of continued significant levels of activity at these projects, the Company successfully raised a total of US$20.4 million net of expenses through a common share offering completed in September 2009. In 2009 at Mt. Todd, we increased gold resources and completed a preliminary economic assessment. During the second half of the year we commenced work on a preliminary feasibility study for the Mt. Todd project which we hope to complete by the end of the second quarter of 2010.

At the Paredones Amarillos project, we updated the bankable feasibility study in 2009 to reflect 2009 economic conditions and we continue to advance the project in a number of key areas including ongoing discussions with potential sources of project financing and commencement of the selection process for engineering procurement and construction management services. In February of this year, we announced our application for the Change of Forest Land Use ("CUSF") Permit had been dismissed by Mexican Secretariat of Environment and Natural Resources ("SEMARNAT") processing the application. This delay is unfortunate, but we continue to work with our Mexican representatives and officials from the Mexican federal government to resolve this issue and obtain the CUSF permit required for the project. At the same time we are undertaking other activities that will allow us to rapidly advance the project to construction and production, once the permitting is complete."

The annual general and special meeting of Vista's shareholders has been scheduled for Monday, May 3, 2010, at 10:00 a.m., Vancouver time, at the offices of Borden Ladner Gervais LLP, located at Suite 1200, 200 Burrard Street, Vancouver, British Columbia, Canada.

Management Discussion & Analysis and Conference Call

To review Vista's Form 10-K for the fiscal year ending December 31, 2009, including our Management Discussion & Analysis, visit either www.sedar.com, www.sec.gov or www.vistagold.com. A conference call with management to review our year-end financial results for 2009 and corporate and project activities is scheduled on Monday March 22, 2010 at 11:00 a.m. EDT.

  Toll-free in North America:  1-866-443-4188
  International:  1-416-849-6196

This call will also be web-cast and can be accessed at the following web location:

http://www.snwebcastcenter.com/event/?event_id=828

This call will be archived and available at www.vistagold.com after March 22, 2010. Audio replay will be available for three weeks by calling in North America: 1-866-245-6755, passcode 675886.

If you are unable to access the audio or phone-in on the day of the conference call, please feel free to email questions, prior to the conference call, addressed to Connie Martinez, Manager - Investor Relations, (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) and we will try to address these questions prior to or during the conference call.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would increase their value. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com. Vista has undertaken programs to advance the Paredones Amarillos gold project, located in Baja California Sur, Mexico, including a definitive feasibility study, the purchase of long delivery equipment items, and the purchase of land for the processing facilities, related infrastructure and the desalination plant. The results of a preliminary economic assessment completed in 2009 on the Mt. Todd gold project in Australia are encouraging and Vista is undertaking a pre-feasibility study and additional resource drilling to advance the project. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, Yellow Pine gold project in Idaho, Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

Reported financial results in this press release are approximate. For exact amounts please see Vista's Annual Report on Form 10-K as filed with the Securities and Exchange Commission and Canadian securities regulatory authorities on March 16, 2010.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the resolution of permitting matters at the Paredones Amarillos gold project, the Company's strategy for advancement of the permitting process for the Paredones Amarillos gold project, the continuation of advancement of the Paredones Amarillos gold project, the timing for commencement of construction, development and production for the Paredones Amarillos gold project, the potential to enhance the project economics of the Mt. Todd gold project through additional resource drilling, the timing for completion and expected results of the preliminary feasibility study on the Mt. Todd gold project, favorable effects of Mt. Todd project economics, the results of the preliminary economic assessment on the Mt. Todd gold project, and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty regarding the amendment and re-filing of the CUSF, uncertainty regarding SEMARNAT's review of the amended CUSF application, risks related to the Company's failure to obtain approval of the CUSF and begin construction of its Paredones Project, including unanticipated delays in beginning construction of the project due to a lack of obtaining the CUSF and the possible reduction of mineral reserves to mineral resources, uncertainty regarding potential court action against SEMARNAT in relation to the dismissal of the CUSF application and risks related to the outcome of such court action, including failure to receive approval of the CUSF application, uncertainty regarding the Company's legal challenges to SEMARNAT's issues with the CUSF and SEMARNAT's authority in reviewing the CUSF application, uncertainty and risks regarding any political factors influencing the approval of the CUSF, possible impairment or write down of the carrying value of the Paredones Amarillos gold project if the CUSF is not granted, uncertainty of resource and reserve estimates, estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risk regarding the preliminary feasibility study for the Mt. Todd gold project, risks relating to the delays at the Mt. Todd gold project, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 16, 2010, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

CONTACT: Connie Martinez of Vista Gold Corp., +1-720-981-1185

Web Site: http://www.vistagold.com/

Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) announced today that its wholly owned Mexican subsidiary, Minera Paredones Amarillos S.A. de C.V. ("MPA") has received notice from the Mexican Secretariat of Environment and Natural Resources ("SEMARNAT") that SEMARNAT has dismissed, on administrative grounds, MPA's application for the Change of Forest Land Use Permit ("CUSF") for the Company's Paredones Amarillos gold project in Baja California Sur, Mexico ("Paredones Project"). Specifically, SEMARNAT dismissed the CUSF application, without a review of its substantive merit, for MPA's alleged failure to satisfy certain procedural and informational requirements. The CUSF is required before the Company can commence construction of the Paredones Project. The Company is currently amending its CUSF application to address SEMARNAT's specific procedural and informational requirements and intends to re-file the application shortly.

In addition, while not formally the basis for SEMARNAT's dismissal, SEMARNAT communicated what it believes are additional issues with the Company's CUSF application, which SEMARNAT stated it was not able to resolve due to a lack of information, including:

  --  SEMARNAT's refusal to recognize the validity of the Temporary
      Occupation Permits granted to MPA by the Mexican General Direction of
      Mines, which are a pre-requisite to filing for a CUSF, on the basis
      that the project is located in an environmentally protected area over
      which the Mexican General Direction of Mines does not have
      jurisdiction;
  --  The National Commission for Biodiversity objects to the project on
      environmental grounds; and
  --  MPA's failure to obtain an official communication from the Mexican
      Natural Protected Areas Commission ("CONANP") acknowledging CONANP's
      conformity with MPA's application for the CUSF.

While the Company believes these comments are without legal merit and that several of the comments are beyond the scope of SEMARNAT's legal authority in connection with a review of a CUSF application, the Company expects the dismissal of the CUSF application will delay the commencement of construction, development and production of the Paredones Project. In addition to re-filing its CUSF application, the Company is working with its legal counsel and political experts in Mexico on a broader strategy for the advancement of the permitting process for the Paredones Project. This includes a potential court challenge to SEMARNAT's dismissal of the CUSF application as the Company's advisors believe the legal basis for the dismissal was incorrect. The Company will continue to provide information and updates as they become available.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would increase their value. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com. Vista has undertaken programs to advance the Paredones Amarillos gold project, located in Baja California Sur, Mexico, including a definitive feasibility study, the purchase of long delivery equipment items, and the purchase of land for the processing facilities, related infrastructure and the desalination plant. The results of a preliminary economic assessment completed in 2009 on the Mt. Todd gold project in Australia are encouraging and Vista is undertaking a pre-feasibility study and additional resource drilling to advance the project. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, Yellow Pine gold project in Idaho, Awak Mas gold project in Indonesia, and the Long Valley gold project in California.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the amendment of the CUSF and the anticipated re-filing of the CUSF with the SEMARNAT, the Company's belief that SEMARNAT's comments on the CUSF are without legal merit or beyond the scope of SEMARNAT's legal authority, the possible court challenge to SEMARNAT's notice, the Company's strategy for advancement of the permitting process for the Paredones Project, the possible reduction of reserves at the Paredones Project if the CUSF cannot be obtained, the timing for commencement of construction, development and production for the Paredones Project, estimates of mineral resources and mineral reserves, the potential to enhance the project economics of the Mt. Todd gold project through additional resource drilling, the timing for completion and expected results of the pre-feasibility study, favorable effects of Mt. Todd project economics, the results of the preliminary economic assessment, and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "potential", "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty regarding the amendment and re-filing of the CUSF, uncertainty regarding the SEMARNAT's review of the amended CUSF application, risks related to the Company's failure to obtain approval of the CUSF and begin construction of its Paredones Project, including unanticipated delays in beginning construction of the project due to a lack of obtaining the CUSF and the possible reduction of mineral reserves to mineral resources, uncertainty regarding potential court action against SEMARNAT in relation to the dismissal of the CUSF application and risks related to the outcome of such court action, including failure to receive approval of the CUSF application, uncertainty regarding the Company's legal challenges to SEMARNAT's issues with the CUSF and SEMARNAT's authority in reviewing the CUSF application, uncertainty and risks regarding any political factors influencing the approval of the CUSF, possible impairment or write down of the carrying value of the Paredones Project if the CUSF is not granted, uncertainty of resource and reserve estimates, estimates of results based on such resource and reserve estimates, risks relating to cost increases for capital and operating costs, risks relating to delays in the completion of the drilling program, risks related to the adequacy of the design of the drilling program, risk regarding the pre-feasibility study, risks relating to the delays at the Mt. Todd Project, risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Vista's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to repayment of debt, risks related to increased leverage and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed under the headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 13, 2009, as amended April 16, 2009, and Quarterly Report on Form 10-Q, as filed November 9, 2009, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Without limiting the foregoing, this press release uses terms that comply with reporting standards in Canada and certain estimates are made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosures an issuer makes of scientific and technical information concerning mineral projects. All mineral resource estimates contained in this press release, including the terms "measured mineral resources," "indicated mineral resources" and "inferred mineral resources", have been prepared in accordance with NI 43-101, and these standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources that are not mineral reserves have no demonstrated economic viability. The resource information contained in this press release is not comparable to similar information disclosed by U.S. companies.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

CONTACT: Connie Martinez of Vista Gold Corp., +1-720-981-1185

Web Site: http://www.vistagold.com/