Vista Gold

DENVER, March 24, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced results of an independent benchmarking study (the “Study”) of the 2019 updated preliminary feasibility study for the Mt Todd Gold Project (“Mt Todd” or the “Project”) in the Northern Territory, Australia (the “2019 PFS”).

In the second quarter 2019, Vista engaged GR Engineering Services Limited (“GRES”) of Perth, Australia to complete an independent review of capital and operating costs, and construction, commissioning and ramp-up schedules as presented in the 2019 PFS. The objective of the Study was to assess the capital and operating costs, and schedules presented in the 2019 PFS compared to actual capital and operating costs being experienced by current, similar size operations. The findings were positive and provide greater assurance that the Company’s inputs and assumptions are reasonable and that the schedules are practical.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “Concurrent with completing the 2019 PFS, we engaged GRES as an independent contractor to review and compare our estimated costs and schedules. Based on the preliminary findings of the Study, we worked with various consultants to further evaluate the interim results and, in some areas, we revised our plans and estimates. This analysis and review are an indication of our commitment to ensuring that our Project designs, schedules and economic analyses are reasonable and appropriate.”

Mining – Summary of Capital and Operating Expenditures

Mining Plus (“MP”) was engaged by GRES to perform a benchmark study for the mining costs of the Project. A comparison of the 2019 PFS unit mining equipment costs to recent equipment purchase prices from original equipment manufacturer (“OEM”) representatives in Australia, with consideration of delivery costs to the Northern Territory, is summarized in the table below.

Based on this analysis, MP concluded that on a weighted average basis, the Mt Todd capital costs as quoted in the 2019 PFS were slightly higher than the costs currently being quoted by Australian OEMs and that total mining capex as reflected in the 2019 PFS was a good estimate.

The table below compares the 2019 PFS mining costs per tonne (“t”) to the average benchmarked mining costs per tonne in each operating cost area of the mine.

Based on the above data, MP determined the mine operating costs as shown in the 2019 PFS were potentially over estimated compared to other Australian mining operations. MP also noted that although the benchmarking population could have been larger, the 2019 PFS estimates appeared reasonable for this level of study.

Processing – Summary of Capital and Operating Expenditures

GRES analyzed the most appropriate completed, comparable projects to assess processing capital and operating cost estimates. Aust Gold (an unnamed project), the Rainy River mines in Canada, and the Ahafo and Akyem operations in Ghana (all of which are approximately half the capacity of Mt Todd) were used in the capital cost comparison. Other reference points included feasibility study results published by large scale mineral processing projects in similar locations and regions interpreted by GRES, and GRES’ internal database of equipment and bulk commodity supply prices.

¹ Rainy River experienced substantial overruns due to a change to the tailings and water dam designs and associated capex.
² Breakdown data unavailable.
³ Mt Todd initial mine capital costs include capitalized pre-stripping required in the existing pit to recommence production versus other operations that started as greenfield sites.
⁴ Initial fills and spares are included in the Mt Todd initial mill capex.
⁵ Conservative value was given to the existing infrastructure at Mt Todd to make it comparable to other projects that were required to construct similar infrastructure. This value is not included in the Mt Todd Total Reported Capex, rather it is reported for information and comparative purposes only.

The Study demonstrated that the processing capital costs shown in the 2019 PFS were in the middle of the range on a US$ per tonne per annum plant capacity basis, with low and high areas of the estimate balancing out. The review identified areas where additional work should be completed as part of future technical studies. 

The Mt Todd piping, electrical and instrumentation costs continue to be factored estimates that will require the completion of feasibility-level engineering design work. Owner’s costs are a function of the project management system selected and the Company’s choice may be different in a future technical report. Power Engineers completed the power generation plant design and cost estimates for the 2019 PFS and continues to work with Vista to optimize the power generation facility’s size and connection to the existing power grid.

Mineralis Pty Ltd (“Mineralis”), an Australian mineral processing consultant, was engaged to assist with the review of processing costs. The Detour Lake, Canadian Malartic and Rainy River Mines in Canada, the Gruyere Project in Australia and another smaller operation were used in the analysis. The comparison between processing costs for the benchmarked gold projects and the 2019 PFS unit operating costs is presented below. The XE.com foreign exchange rate averages for the 90-day period prior to August 5, 2019 of US$0.70/AUD (equivalent to the 2019 PFS exchange rate) and US$0.75/CAD have been used for conversion to USD.

The Mt Todd processing cost of US$7.88/t milled was above similar scale gold plants at Detour Lake and Malartic, which use primary and secondary crushing followed by semi-autogenous ball mill comminution circuits. Mineralis suggests that with the HPGR crushers in the comminution circuit, the ore sorting plant, and project location, the Mt Todd 50,000 tpd total process operating cost would likely be above the benchmarked operations, particularly in the early years.

Commissioning and Start Up

Due to the number of unit operations and conveyors, transfer points, and wear areas in the crushing and HPGR circuits, and the large number of tanks in the CIP leaching and adsorption circuit, the authors of the Study identified the materials handling, crushing, ore sorting and grinding areas as potential areas of risk for Mt Todd during ramp-up.   

The Company has extensively evaluated the comminution and materials handling areas of the Project and incorporated design considerations to address potential commissioning and start up risks. As part of the 2019 PFS, the Company also increased the construction and startup schedule from 24 to 30 months. In the 2019 PFS and in previous studies Vista used a design philosophy that has increased the size of the primary crusher, secondary crushers, and HPGR crushers to the next size larger than the equipment manufacturers recommendation. Similarly, in the sorting and fine grinding areas, an extra unit has been included in the design to ensure additional capacity is available if needed. That is, the manufacturer recommended four XRT sorters and five were included in the design. The same is true for the laser sorters and VXP mills. The associated material handling units were also sized for the larger units. Vista believes that this will significantly decrease potential risks during commissioning and start up and plans to undertake additional material handling design reviews as a part of future engineering.

Mt Todd Benchmarking Study

For further information on the results of the Study, please see the report entitled “Mt Todd Gold Project Independent Benchmarking Study dated February 20, 2020, which is available on Vista’s website under “Mt Todd – Technical Reports.”

Technical Report on Mt Todd

For further information on the Mt Todd Gold Project, see the Technical Report entitled “NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia” with an effective date of September 10, 2019 and an issue date of October 7, 2019, which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, as well as on Vista’s website at “Mt Todd – Technical Report.”

John Rozelle, Vista’s Senior Vice President, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the information in this press release.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s principal asset is its flagship Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia.

For further information, please contact the Company at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including such things as the projected economics of the Mt Todd gold project in the 2019 PFS, including the estimates of capital costs and mining and processing operating costs at Mt Todd in the 2019 PFS and the Study, mining schedules as presented in the 2019 PFS and Study, Mt Todd cost estimates relative to benchmarked operations, the Company’s evaluation of commissioning and start-up risks and the effectiveness of efforts to decrease such risks and other similar statements are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: no change to laws or regulations impacting mine development or mining activities, our approved business plans, mineral resource and reserve estimates and results of preliminary economic assessments, preliminary feasibility studies and feasibility studies on our projects, if any, our experience with regulators, our experience and knowledge of the Australian mining industry, benchmarked operations being similar to planned operations at Mt  Todd and  the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our operations of environmental regulations in the countries in which the Company operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which the Company operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed on February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Cautionary Note to United States Investors

The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. The 2019 PFS referenced in this press release uses the terms “Proven reserves” and “Probable reserves”.  Reserve estimates contained in the 2019 PFS are made pursuant to NI 43-101 standards in Canada and do not represent reserves under the standards of the SEC’s Industry Guide 7  and may not constitute reserves under the SEC’s newly adopted disclosure rules to modernize mineral property disclosure requirements, which became effective February 25, 2019 and will be applicable to the Company in its annual report for the fiscal year ending December 31, 2021. Under the currently applicable 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 all necessary permits and government approvals must be filed with the appropriate governmental authority. Additionally, the 2019 PFS uses the terms “Measured resources”, “Indicated resources”, and “Measured & Indicated resources”. We advise U.S. investors that while these terms are Canadian mining terms as defined in accordance with NI 43-101, such terms are not recognized under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources described in the 2019 PFS have a great amount of uncertainty as to their economic and legal feasibility. 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. “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 any or all part of an Inferred resource will ever be upgraded to a higher category. 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.

DENVER, March 30, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that, in response to the ongoing global coronavirus pandemic (“COVID‑19”), its annual general and special meeting of shareholders (the “Meeting”), which was originally to be held at 10:00 am PDT in Vancouver, B.C. will now be held at the Company’s office at 7961 Shaffer Parkway, Suite 5, Littleton, Colorado 80127 at the same time (11:00 am MDT/10:00 am PDT). The date of the Meeting remains unchanged and will be held on April 30, 2020.

Due to the ongoing public health impact of COVID‑19 and to mitigate risks to the health and well-being of our employees, shareholders, communities, and other stakeholders, the Company strongly discourages shareholders from physically attending the Meeting. In light of the rapidly evolving news and guidelines relating to the COVID-19 pandemic, Vista requests that all shareholders comply with guidelines and orders of local government agencies and health officials.

If you would like to join the Meeting by telephone, please contact Pamela Solly, Vice President of Investor Relations, at (720) 877-0132 for further details; however, your votes must be received before the proxy cut-off time as no votes will be taken over the phone during the Meeting.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “The health and safety of our employees, shareholders, communities and stakeholders are paramount to Vista. Due to the ongoing concerns of COVID-19, it is with regret, but in accordance with current public health guidelines, that we strongly discourage shareholders from physically attending the Meeting and ask that all shareholders vote by proxy, phone or online prior to the Meeting. We appreciate the understanding and support of our shareholders during this unprecedented situation.”

Shareholders are reminded and encouraged to vote by proxy, phone or online prior to the Meeting:

• Vote by internet: go to www.proxyvote.com. Have your proxy card in hand when you access the website and follow instructions.
• Vote by phone: use any touchtone phone and dial 1-800-690-6903 to transmit your voting instructions.
• Vote by mail: mark, sign and date your proxy card and return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.

Beneficial owners whose shares are registered in the name of an intermediary are reminded to vote by following the instructions provided to them by such intermediary.

Proxies must be received by 10:00 am PDT/11:00 am MDT on April 28, 2020. For additional information on the Meeting, please refer to the Company’s Management Information Proxy Circular as filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

The Company will take all reasonable steps necessary to inform all parties involved in the proxy voting infrastructure (such as intermediaries, transfer agents and proxy service providers) of the change in the location for the Meeting.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s principal asset is its flagship Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia.

For further information, please contact the Company at (720) 981-1185.

DENVER, April 30, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that PT Masmindo Dwi Area (“PT Masmindo”) provided the necessary notice to Vista to exercise the option to cancel half of the Awak Mas net smelter return (“NSR”) royalty in consideration of a $2.4 million cash payment to Vista by May 8, 2020.

Vista holds an NSR royalty on the Awak Mas project in Indonesia. During 2019, Vista and PT Masmindo amended the original royalty agreement to allow PT Masmindo to make a $2.4 million payment to Vista by April 30, 2020 to cancel a 1% NSR on the first 1,250,000 ounces produced at Awak Mas and a 1.25% NSR on the next 1,250,000 ounces produced. The due date for this payment was subsequently amended to May 8, 2020. On April 29, 2020, PT Masmindo provided notice to Vista to exercise the option to cancel the related 1% NSR and 1.25% NSR upon making a payment of $2.4 million, which the Company expects to receive by May 8, 2020. Upon receipt of the $2.4 million payment, PT Masmindo will then have the right to cancel the remaining 1% NSR and 1.25% NSR for an additional payment of $2.5 million by April 30, 2021. If PT Masmindo does not make the $2.4 million payment by May 8, 2020, Vista will retain the full royalty interests and can pursue alternative monetization strategies.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “The notice provided by PT Masmindo to cancel 50% of the Awak Mas NSR royalty is another example of Vista’s priority to monetize non-core assets and to maintain Vista’s financial stability. When received, the $2.4 million payment will strengthen Vista’s balance sheet and provide an important source of working capital for the next twelve months. Looking ahead, should PT Masmindo choose to exercise the remainder of its option and cancel the other half of the Awak Mas NSR royalty, Vista could expect to receive an additional $2.5 million in twelve months.”

About Vista Gold Corp.

The Company is a gold project developer. The Company’s principal asset is its flagship Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and as presently designed, is expected to be Australia’s 5^th largest gold producer on an annual basis.

For further information, please contact the Company at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including the receipt of the $2.4 million cash payment to be made to Vista by May 8, 2020 by PT Masmindo and any other future option payments for the Awak Mas project are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our assumption that PT Masmindo will make the $2.4 million cash payment when due; there are no changes to laws or regulations impacting mine development or mining activities, our assumptions with respect to the current economic conditions, the price of gold and current market conditions.  When used in this press release, the words “expect,” “intend,” “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 the Company to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, risks relating to political and economic instability; changes to laws or regulations impacting mine development or mining activities, uncertainty regarding current economic conditions, the price of gold and current market conditions; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed on February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, April 30, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (“Vista” or the “Company) (NYSE American and TSX: VGZ) today announced the voting results from its annual general and special meeting of shareholders held on Thursday, April 30, 2020 in Littleton, Colorado (the “Meeting”).

A total of 59,648,103 common shares in the capital of the Company (“Common Shares”) were represented at the meeting, being 59.23% of the Common Shares.  Detailed results for the ballot votes for the election of directors are as follows:

In addition, at the Meeting, shareholders appointed Plante & Moran PLLC as auditors of the Company and passed an ordinary resolution to approve on an advisory basis, the compensation of the Company’s Named Executive Officers.  

About Vista Gold Corp.

The Company is a gold project developer. Our principal asset is our flagship Mt Todd gold project in Northern Territory, Australia.  Mt Todd is the largest undeveloped gold project in Australia and as presently designed, is expected to be Australia’s 5^th largest gold producer on an annual basis.

For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or This email address is being protected from spambots. You need JavaScript enabled to view it.. You may also visit our website at www.vistagold.com.

DENVER, May 04, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended March 31, 2020. The Company’s unaudited financial statements, Management’s Discussion and Analysis together with other important disclosures can be found in the Company’s Quarterly Report on Form 10-Q, filed on May 4, 2020 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Summary of Q1 2020 Financial Results

Vista reported a net loss of $3.5 million or $0.03 per share for the three months ended March 31, 2020. The loss was comprised of $2.3 million of operating expenses, a $1.1 million mark-to-market loss on our investments in Midas Gold Corp. and Nusantara Resources Limited, and other expenses of $0.1 million.

Working capital at March 31, 2020 totaled approximately $4.9 million, including cash and short-term investments (comprised of government securities) of approximately $3.2 million. The Company has no debt.

Vista’s President and CEO, Mr. Frederick H. Earnest commented, “The COVID-19 pandemic continues to have a significant impact on human life and health, and on the global economy, financial markets and commodities. The health, safety and well-being of our employees and other stakeholders remains a priority for our Company. Although global travel restrictions have prevented us from engaging in face-to-face meetings with potential strategic partners, we continue to advance our objective of securing a partner for the construction and development of Mt Todd.

Current market conditions highlight the leverage to gold price that favors the Mt Todd gold project.  At a current gold price of approximately $1,700 per ounce and a foreign exchange rate of $US0.65=A$1.00, the project economics demonstrate an after-tax NPV_5% of more than US$1.6 billion and an IRR of 40%. The recently released benchmarking study further supports the capital and operating costs behind these compelling economic estimates. We are also pleased that notice to exercise the option has been provided by the holder of the Awak Mas project to cancel half of the net smelter return royalty held by Vista, and we expect to receive the required $2.4 million payment within days. This payment will provide an important source of working capital for the next twelve months.”

COVID-19 Pandemic Update

Vista is responding to the COVID-19 pandemic to ensure the health and safety of its employees and other stakeholders. Corporate activities continue with personnel working remotely. Corporate travel and participation in conferences has been replaced by an increased use of video conferencing technology. In Australia, Mt Todd is classified as a critical business and is operating under a COVID-19 Management and Mitigation Plan. To date, our workforce remains healthy and free of symptoms of the virus. 

Awak Mas Project, Indonesia

Vista holds an NSR royalty on the Awak Mas project in Indonesia. During 2019, Vista and PT Masmindo Dwi Area (“PT Masmindo”) amended the original royalty agreement to allow PT Masmindo to make a $2.4 million payment to Vista by April 30, 2020 to cancel a 1% NSR on the first 1,250,000 ounces produced at Awak Mas and a 1.25% NSR on the next 1,250,000 ounces produced. The due date for this payment was subsequently amended to May 8, 2020. On April 29, 2020, PT Masmindo provided notice to Vista to exercise the option to cancel the related 1% NSR and 1.25% NSR upon making a payment of $2.4 million, which the Company expects to receive by May 8, 2020. Upon receipt of the $2.4 million payment, PT Masmindo will then have the right to cancel the remaining 1% NSR and 1.25% NSR for an additional payment of $2.5 million by April 30, 2021. If PT Masmindo does not make the $2.4 million payment by May 8, 2020, Vista will retain the full royalty interests and can pursue alternative monetization strategies.

Independent Benchmarking Study

In March 2020, Vista announced the positive results of an independent benchmarking study ("Study") of the 2019 updated preliminary feasibility study for the Mt Todd Gold Project (the “Project”) in the Northern Territory, Australia ("2019 PFS"). Concurrent with completing the 2019 PFS, the Company engaged an independent consultant to review and compare Vista’s estimated costs and schedules. The analysis, review and positive results of the Study are an indication of the Company’s commitment to ensuring that Project designs, schedules and economic analyses are reasonable and appropriate.

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

The Company is a gold project developer. Our principal asset is our flagship Mt Todd gold project in Northern Territory, Australia.  Mt Todd is the largest undeveloped gold project in Australia.

For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

Technical Report on Mt Todd

For further information on the Mt Todd Gold Project, see the Technical Report entitled “NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia” with an effective date of September 10, 2019 and an issue date of October 7, 2019, which is available on SEDAR as well as on Vista’s website under the Technical Reports section. John Rozelle, Vista’s Sr. Vice President, a Qualified Person as defined by NI 43-101, has approved the information in this press release.

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 we expect or anticipate will or may occur in the future, including such things as our plans to continue to advance the process of seeking a partner for the construction and development of Mt Todd; the Mt Todd project economics including the NPV5% of approximately US$1.6 billion and an IRR of 40% indicated above; the Company’s plans to focus on monetizing non-dilutive potential sources of funding, including converting royalty interests held by the Company, future option payments under the Los Reyes option agreement and sales of other non-core assets such as our mill equipment; Vista’s plans to respond appropriately to the COVID-19 pandemic to ensure the health and safety of its employees; the Company’s expected receipt of $2.4 million by May 8, 2020 related to the exercise of the option to cancel the above noted royalty and any future payments in relation to the Awak Mas project; and our belief that Mt Todd is the largest undeveloped gold project in Australia are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our assumption that PT Masmindo will make the $2.4 million cash payment when due; our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; our approved business plans, our mineral resource and reserve estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on our projects, if any; our experience with regulators; our experience and knowledge of the Australian mining industry and our expectations of economic conditions and the price of gold.  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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed in February 2019 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, May 05, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced receipt of $2.4 million from PT Masmindo Dwi Area (“PT Masmindo”) to exercise its option to cancel 50% of the Awak Mas net smelter return (“NSR”) royalty. Management has also scheduled a conference call on May 8, 2020 at 10:00 am MT to discuss first quarter 2020 financial results and provide a general corporate update.

Vista holds an NSR royalty on the Awak Mas project in Indonesia. During 2019, Vista and PT Masmindo amended the original royalty agreement to grant PT Masmindo the right to cancel the NSR royalty held by Vista (see news releases November 4, 2019 and April 30, 2020). Receipt of this payment cancels 50% of the NSR royalty, and PT Masmindo retains the right to cancel the remaining 1.0% NSR royalty on the first 1,250,000 ounces of gold produced and 1.25% NSR royalty on the next 1,250,000 ounces of gold produced for an additional payment of $2.5 million by April 30, 2021. If PT Masmindo does not make the $2.5 million payment by April 30, 2021, Vista will retain the remaining royalty interest and can pursue alternative monetization strategies.

Frederick H. Earnest, President and Chief Executive Officer, commented, “We are pleased to have received the first of two option payments from PT Masmindo related to the cancelation of Vista’s Awak Mas NSR royalty. The $2.4 million strengthens our balance sheet as we advance our activities to seek a strategic partner for the construction and development of our Mt Todd Gold Project. Our efforts to monetize other non-core assets are ongoing.”

Management Conference Call

A conference call with management to review our financial results for the first quarter ended March 31, 2020 and to discuss corporate and project activities is scheduled for May 8, 2020 at 10:00 am MDT.

Participant Toll Free: 888-378-4413
Participant International: 647-792-1280
Conference ID: 7842578

This call will be archived and available at www.vistagold.com after May 8, 2020. Audio replay will be available for 21 days by calling toll-free in North America: 888-203-1112.

If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to This email address is being protected from spambots. You need JavaScript enabled to view it..

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s principal asset is its flagship Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and as presently designed, is expected to be Australia’s 5^th largest gold producer on an annual basis.

For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including the receipt of other future option payments for the Awak Mas project and our ongoing efforts to monetize non-core assets are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: there are no changes to laws or regulations impacting mine development or mining activities, our assumptions with respect to the current economic conditions, the price of gold and current market conditions. When used in this press release, the words “expect,” “intend,” “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 the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to political and economic instability; changes to laws or regulations impacting mine development or mining activities, uncertainty regarding current economic conditions, the price of gold and current market conditions; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed on February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, June 02, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced positive results of ongoing geological evaluations at its Mt Todd Gold Project (“Mt Todd” or the “Project”) in the Northern Territory, Australia. This initial phase of the Company’s evaluations focused on the Batman deposit and the area north to the Quigleys deposit. Results demonstrate greater potential for continuity of gold mineralization along a 5.4 Km strike length. These results are preliminary in nature.

The Company recently consolidated its geologic information which includes both Vista and historic drilling at the Batman deposit, historic drilling northeast of the Batman deposit to the Quigleys’ deposit, and all of the surface geochemistry, geophysics, structural geology, and lithologic data into a comprehensive GIS database as part of its ongoing evaluation work to identify and prioritize upside potential at Mt Todd. This consolidated GIS format has identified several trends and potential areas where the gold mineralization may be more extensive than previously thought.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “We believe Mt Todd hosts a district and not just a deposit. The recent work by our geologic team on understanding the connectivity of the Batman deposit to the Golf-Tollis and Quigleys deposits indicates potential for district continuity. As we evaluate this potential combined with continued improved gold prices, it is possible to envision a 20-plus year mine.”

Mt Todd encompasses a large land package that has both explored and unexplored areas. There are two principle mineralized structural trends; the Batman-Driffield Trend and the Cullen-Australis Trend. The Batman-Driffield Trend has the greatest number of known mineralized prospects and has been the subject of the most detailed work. Figure 1 provides detail on the southwestern portion of the Batman-Driffield Trend which contains the Batman deposit and several other prospects with historic drilling.  Long-section A-B covers a linear length of ~5.4 Km. This area lies within Vista’s mining licenses and represents the initial phase of recent evaluations by Vista’s exploration team.

Figure 1: Plan map of a portion of the Batman-Driffield Trend.
https://www.globenewswire.com/NewsRoom/AttachmentNg/390d9466-1268-42f8-b097-74a0603b4eb1

Figure 2 illustrates the extent of historic drilling completed north of the Batman deposit. For the most part, the historic drilling was shallow (generally less than 100m) and either Rapid Air Blast, Reverse Circulation or Churn drilling, which returned no drill core, only rock chips. When Vista initiated its work on the Batman deposit, the historic drilling looked much the same as that shown for the Golf-Tollis and Quigleys deposits. All of Vista’s drilling has been diamond core holes. The Batman deposit now is known to extend to a considerable depth below the other mineralization shown in Figure 2. The connectivity within this ~5.4 Km structurally-controlled, mineralized area is encouraging because it supports the potential that there is a mineral district at Mt Todd and not just the Batman deposit. In addition, it highlights the opportunity for more diamond drilling at deeper depths in order to begin to unlock the full potential at Mt Todd.

Figure 2:  Long section of mineralization in the Batman-Driffield Trend.
https://www.globenewswire.com/NewsRoom/AttachmentNg/a7a34a98-f9dc-45c8-b21f-9e5a84ac9056

John Rozelle, Vista’s Sr. Vice President, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has verified the data disclosed in this news release and approved the information in this press release. The drill hole information displayed in Figure 2 associated with the Batman and Quigleys deposits has been previously disclosed in Vista’s October 7, 2019 NI 43-101 Technical Report (“Technical Report”) entitled “NI 43-101 Technical Report, Mt Todd Gold Project, 50,000 tpd Preliminary Feasibility Study, Northern Territory Australia” and meets all of the NI 43-101 requirements for disclosure of mineral resources or reserves.  The drill holes shown for the Golf-Tollis/Penguin and the Quigleys Extension are historic drill holes. Only the lithologic and geologic structural data have been used and there are no historic or current resource or reserves for these identified areas.  The information contained in this press release does not change any of the mineral resources or reserves estimates contained in Vista’s October 7, 2019 Technical Report. The information contained in this press release is provided to inform the reader of the growth of our geologic understanding of the Project as new software tools have been implemented.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

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 we expect or anticipate will or may occur in the future, including such things as the future potential of the Mt Todd gold project as a mineral district and not just a deposit, the timing and results of future exploration at Mt Todd, the economic viability of the potential extended mineral district at Mt Todd, the potential for a 20-plus year mine at Mt Todd with substantial metal production, the projected economics of the Mt Todd gold project and other similar statements are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: no change to laws or regulations impacting mine development or mining activities, our approved business plans, mineral resource and reserve estimates and results of preliminary economic assessments, preliminary feasibility studies and feasibility studies on our projects, if any, our experience with regulators, our experience and knowledge of the Australian mining industry, benchmarked operations being similar to planned operations at Mt  Todd and  the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our operations of environmental regulations in the countries in which the Company operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which the Company operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed on February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, June 15, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that, together with its wholly-owned subsidiaries Minera Gold Stake Holdings Corp., Granges Inc. and Minera Gold Stake, S.A. de C.V., it has entered into an amendment to the option agreement dated October 23, 2017 (“Amendment Agreement”) for the Guadalupe de los Reyes gold / silver project in Sinaloa, Mexico (“Los Reyes”). The Amendment Agreement accelerates the due date for the final $1.5 million option payment to Vista and provides for an additional $2.1 million payable to Vista in lieu of being granted certain royalties and back-in rights.

Pursuant to the Amendment Agreement, Prime Mining Corp. (“Prime Mining”) has agreed to accelerate the due date for the final $1.5 million option payment to Vista from October 23, 2021 to not later than September 30, 2020 (the “Purchase Price Payment Date”). Prime Mining further agrees to pay Vista an additional $2.1 million through two payments of:

• $1,100,000 no later than six months from the Purchase Price Payment Date, and
• $1,000,000 no later than 12 months from the Purchase Price Payment Date.  

If Prime Mining fails to make the two payments, Vista will have the right to reinstate its royalties and back-in right.

Frederick H. Earnest, President and Chief Executive Officer, commented, “We are pleased with the acceleration of the due date for the last option payment and this opportunity to monetize the royalties and back-in right at Los Reyes. In addition to cash proceeds of $2.4 million from the recent Awak Mas transaction, Vista now has agreements in place to realize up to $6.1 million over the next 16 months from Awak Mas and Los Reyes. Monetizing our non-core assets has generated working capital without significant dilution to our shareholders and retained greater leverage to the value of Mt Todd as we achieved important permitting milestones and improvements in the efficiency and economic potential of the project. We believe these achievements coupled with the improved gold price position Mt Todd as one of the most compelling development opportunities in the gold sector.”

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

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 we expect or anticipate will or may occur in the future, including such things as our expectation that we will receive $1,500,000 no later than September 30, 2020, $1,100,000 no later than six months from September 30, 2020, and $1,000,000 no later than 12 months from September 30, 2020, our ongoing efforts to monetize non-core assets and seek development of Mt Todd to potentially be Australia’s 6^th largest gold producer and our belief that Mt Todd is one of the most compelling development opportunities in the gold sector are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our discussions with Prime Mining, our reliance that Prime Mining will be able to raise funds to finance its business plans; our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, June 29, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that it has filed a $25 million Shelf Registration Statement on Form S-3  (“Shelf Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”) (SEC File No. 333-239139) and amended its At-the-Market Offering Agreement (“ATM Agreement”) with H.C. Wainwright & Co. LLC (“Wainwright”).

The Shelf Registration Statement and ATM Agreement are part of the Company’s ongoing business practice to maintain financing flexibility without any incumbent obligation to use either instrument.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

The $25 million Shelf Registration Statement became effective on June 24, 2020 and replaces the Company’s prior $50 million shelf registration statement that was set to expire on July 5, 2020. A parallel $25 million Preliminary Short Form Base Shelf Prospectus was also filed in each of the provinces of Canada, other than Quebec (the “Canadian Jurisdictions”), on June 22, 2020. In order to qualify securities for distribution in the Canadian Jurisdictions, a Final Short Form Base Shelf Prospectus must be filed with, and a receipt received from, applicable Canadian securities commissions.

In addition, on June 24, 2020 the Company amended its current $10 million ATM Agreement with Wainwright to incorporate certain representations and warranties of the Company in relation to the filing of the new above referenced Shelf Registration Statement, align transaction settlement dates with the record date for certain dividend or distribution transactions, and to remove the termination date of August 31, 2020. Going forward, the ATM Agreement can be terminated by either Vista or Wainwright upon proper notice under the terms of the ATM Agreement. No securities will be offered in Canada under the ATM Agreement. Please refer to the Company’s Form 8-K as filed with the SEC on June 25, 2020.

The offering of common shares under the ATM Agreement will be made by way of a prospectus supplement dated June 24, 2020 and filed with the SEC on June 25, 2020 (the “Prospectus Supplement”) to the base prospectus contained in the Shelf Registration Statement (File No. 333-239139), which became effective June 24, 2020. The Prospectus Supplement and the base prospectus have been filed with the SEC and is, together with the related Shelf Registration Statement, available on the SEC’s website at www.sec.gov. Alternatively, Wainwright will provide copies of these documents upon request by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 4th Floor, New York, NY 10022 at This email address is being protected from spambots. You need JavaScript enabled to view it..

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including such things as our expectation that we may use the ATM Agreement, use of proceeds from the ATM Agreement, the flexibility in financing opportunities provided by the Shelf Registration Statement and the ATM Agreement, the future filing of the a final base shelf prospectus in all provinces in Canada, other than Quebec,  and our intent to seek development of Mt Todd to potentially be Australia’s 6^th largest gold producer  are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our discussions with Prime Mining, our reliance that Prime Mining will be able to raise funds to finance its business plans; our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, July 20, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced receipt of the final $1.5 million payment (“Purchase Price Payment”) from Prime Mining Corp. (“Prime Mining”) and through its wholly-owned subsidiary, Minera Gold Stake, S.A. de C.V. (“MGS”), has executed a transfer agreement that assigns MGS’s legal title to the claims covering the Guadalupe de los Reyes gold / silver project to a subsidiary of Prime Mining.

As previously announced on June 15, 2020 (see news release), Prime Mining is required to pay Vista an additional $2.1 million in lieu of being granted certain royalties and back-in rights:

• $1,100,000 no later than six months from receipt of the Purchase Price Payment; and
• $1,000,000 no later than twelve months from receipt of the Purchase Price Payment.

If Prime Mining fails to make the two payments, Vista will have the right to reinstate its royalties and back-in rights.

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

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 we expect or anticipate will or may occur in the future, including such things as our expectation that we will receive $1,100,000 no later than six months from the receipt of the Purchase Price Payment and $1,000,000 no later than twelve months from the receipt of the Purchase Price Payment, our ongoing efforts to seek development of Mt Todd to potentially be Australia’s 6^th largest gold producer are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our discussions and contractual arrangements with Prime Mining, our reliance that Prime Mining will be able to raise funds to finance its business plans; our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, July 29, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results with net income of $1.9 million for the quarter ended June 30, 2020. Management’s quarterly conference call to discuss these results is scheduled for 2:30 p.m. MDT on July 30, 2020. The Company’s unaudited financial statements, Management’s Discussion and Analysis together with other important disclosures are available in the Company’s Quarterly Report on Form 10-Q, filed on  July 29, 2020 with the U.S. Securities and Exchange Commission (“SEC”) and the Canadian securities regulatory authorities.

Summary of Q2 2020 Financial Results

Vista reported net income of $1.9 million, or $0.01 per share for the three months ended June 30, 2020. The Company benefited from a gain of $2.6 million associated with the partial cancellation of the Company’s royalties on the Awak Mas project and a gain of $1.1 million relating to fair value adjustments and sales of other investments. Also contributing to net income was a $0.2 million decrease in operating expenses compared to the three months ended June 30, 2019.

Current assets at June 30, 2020 were $8.5 million. At the same date, accounts payable and accrued liabilities were $0.7 million, and the Company has no debt.

Other Quarterly Highlights

Other corporate activities and highlights for the three months ended June 30, 2020 included:

• Receipt of a $2.4 million cash payment to cancel 50% of the Awak Mas royalties;
• An amendment to the Guadalupe de los Reyes (“GdlR”) agreement to accelerate the final $1.5 million cash payment to not later than September 30, 2020 (which was received in July 2020) and provide for an additional $2.1 million to Vista over the next 12 months in lieu of receiving certain royalties and back in rights;
• Net proceeds received of $1.7 million from other investing and financing activities; and
• Filing a U.S. shelf registration statement for $25 million to replace the previous $100 million shelf registration statement that was set to expire on July 5, 2020.

For additional details regarding the Awak Mas transaction, GdlR transaction, and the shelf registration statement, please refer to the Company’s news releases dated May 5, June 15, and June 29, 2020, respectively.

Vista’s President and CEO, Mr. Frederick H. Earnest commented, “The strengthening of our balance sheet during the second quarter reflects our ongoing operational and capital discipline and gives us the resources needed to pursue our corporate objectives. During the quarter we successfully monetized non-core mineral property interests and realized $1.7 million from other investing and financing activities. Consistent with our business practice of maintaining a current shelf registration, we filed a new, but much smaller U.S. shelf registration.

In addition to cash generated by non-core assets during the second quarter and the $1.5 million received in July 2020, we have agreements in place that we expect will generate up to $4.6 million over the next 12 months. This includes up to $2.1 million under the amended GdlR agreement and $2.5 million if the option to cancel the remaining 50% of the Awak Mas royalties is exercised. Monetizing our interests in Awak Mas and GdlR are important elements in our strategy of providing liquidity to further advance Mt Todd.

The recent increase in the gold price, together with the corresponding increase in our share price and trading volume, reflects growing enthusiasm about the value of the Mt  Todd gold project. Vista continues to advance and de-risk Mt Todd and is well positioned, in the current gold environment, to consider prospective development partners who we believe will recognize the value of Mt Todd. We are focused on realizing value for Mt Todd that appropriately rewards shareholders and will continue to efficiently optimize and advance Mt Todd until this objective is achieved.”

Management Conference Call

A conference call with management to review our financial results for the second quarter ended June 30, 2020 and to discuss corporate and project activities is scheduled for July 30, 2020 at 2:30 pm MDT.

Participant Toll Free: 800-353-6461
Participant International:  334-323-0501
Conference ID:  7353852

This call will be webcast and can be accessed at webcast link. This call will also be archived and available at www.vistagold.com after July 30, 2020. Audio replay will be available for 21 days by calling toll-free in North America: 888-203-1112.

If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to This email address is being protected from spambots. You need JavaScript enabled to view it..

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including such things as our expected filing date for the Company’s Quarterly Report on Form 10-Q for the second quarter 2020; the expected date for our management’s call regarding our financial results; our expectations with regard to any future payments pursuant to the amendment to the Guadalupe de los Reyes agreement and the Awak Mas agreement; our plans to continue to advance the process of seeking a partner for the construction and development of Mt Todd; our plans to continue to efficiently optimize and advance Mt Todd; our plans to respond appropriately to the COVID-19 pandemic to ensure the health and safety of its employees; and our belief that Mt Todd is the largest undeveloped gold project in Australia, and if developed, that it would be Australia’s 6^th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; our approved business plans, our mineral resource and reserve estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on our projects, if any; our experience with regulators; our experience and knowledge of the Australian mining industry and our expectations of economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; uncertainty as to completion of critical milestones for Mt Todd; and uncertainty as to the impact of the ongoing global health crisis caused by the COVID-19 pandemic; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed in February 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (“Vista” or the “Company”) (NYSE American and TSX: VGZ) today announced that it has filed a final Short Form Base Shelf Prospectus (“Shelf Prospectus”) with the securities commissions in each of the provinces of Canada, other than Quebec, to complement the Shelf Registration Statement filed with the U.S. Securities and Exchange Commission earlier this year. The amount and timing of any future offerings will be based on the Company’s financial requirements and market conditions at the time.

In conjunction with the Shelf Prospectus, Vista also filed an amended National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) preliminary feasibility study (the “Amended 2019 PFS”) for its Mt Todd gold project (“Mt Todd” or the “Project”) in Northern Territory, Australia to clarify certain information, as described below.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Frederick H. Earnest, President and Chief Executive Officer, stated, “The Shelf Prospectus is part of the Company’s ongoing business practice to maintain financing flexibility without any incumbent obligation to use the instrument.

The Amended 2019 PFS clarifies certain information as previously disclosed in the 2019 PFS. The Company, together with qualified persons (“QPs”), have updated certain sections in the document filed on SEDAR on October 5, 2020. The changes between the 2019 PFS and the Amended 2019 PFS were made to meet several form requirements and provide additional clarity. There are no material differences between the 2019 PFS and the Amended 2019 PFS; however, the Company advises readers not to rely on the initial version of the technical report. Mineral reserve and mineral resource estimates, gold recoveries, designs or design parameters, capital and operating costs, financial results, production profiles and the recommendations and conclusions provided in the Amended 2019 PFS are materially unchanged.”

The following items address specific changes in the Amended 2019 PFS:

• Changes to the title page to include each QPs professional designation to comply with form requirements
• Additions to Section 2 - Introduction to include steps taken by QPs to independently verify information to comply with form requirements
• Clarification of QP disclaimers and additions to Section 3 – Reliance on Other Experts to comply with form requirements
• Additions to Section 9 - Exploration and Section 10 - Drilling to comply with form requirements
• Removal of disclosure for an alternate development scenario for a 33,000 tpd project
• Clarification of credentials in certificates for specific QPs
• Certain other minor changes to comply with form requirements

There are no changes to the following key items in the Amended 2019 PFS:

• Reported measured, indicated, and inferred mineral resources for the Batman deposit and the Heap Leach pad. There was a slight increase in the measured, indicated and inferred resources for the Quigleys deposit that was deemed nonmaterial by the QP.
• Reported design parameters for the open pit mine plans
• Reported proven and probable mineral reserves
• Reported design parameters for the process plant or process flow sheet
• Reported metallurgical recoveries and associated supporting test work
• Reported capital and operating costs
• Reported design parameters for the tailings dams and waste rock dump
• Reported design parameters and associated costs for the reclamation plan
• Reported financial results from the cash flow analysis, rates of return, and schedules

The Mt Todd independent benchmarking study dated February 20, 2020 (“Study”) utilized data from the 2019 PFS. As a result of no material physical or financial changes as described above, the Company believes the Study remains current and is applicable to the Amended 2019 PFS.

This information is intended to assist stakeholders and other readers of the Amended 2019 PFS in their understanding of the Mt Todd Project and in forming judgements regarding the quality of the data collected, reported, and used in the Amended 2019 PFS.

For further information on the results of the Amended 2019 PFS and the Project, see the technical report entitled “NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia,” with an effective date of September 10, 2019, an issue date of October 7, 2019, and as amended September 22, 2020, which is available on SEDAR at www.sedar.com, EDGAR at www.sec.gov, as well as on Vista’s website under “Mt Todd – Technical Reports.”

John Rozelle, Vista’s Senior Vice President, a Qualified Person as defined by NI 43-101, has approved the information in this press release.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including technical studies and mineral resource estimates.

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, discussion related to the Company’s plans for any future offerings and other such matters are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: general economic and business conditions; the accuracy of the results of the PFS, mineral resource and reserve estimates, and exploration and assay results; the terms and conditions of our agreements with contractors and our approved business plan; the anticipated timing and completion of a feasibility study on the Project; the anticipated receipt of required permits; no change in laws that materially impact mining development or operations of a mining business; the potential occurrence and timing of a production decision; the anticipated gold production at the Project; the life of any mine at the Project; and all economic projections relating to the Project, including estimated cash cost, NPV_5%, IRR, and initial capital requirements. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “plans,” “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 mineral resource estimates, estimates of results based on such mineral resource estimates; risks relating to cost increases for capital and operating costs; risks related to the timing and 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 “Note Regarding Forward-Looking Statements” and “Risk Factors” in Vista’s Annual Report Form 10-K as filed in February 26, 2020 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.

Cautionary Note to United States Investors

The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. This press release and the Amended 2019 PFS use the terms “Proven reserves” and “Probable reserves”. Reserve estimates in the Amended 2019 PFS are made pursuant to NI 43-101 standards in Canada and do not represent reserves under the standards of the SEC’s Industry Guide 7 and may not constitute reserves under the SEC’s newly adopted disclosure rules to modernize mineral property disclosure requirements, which became effective February 25, 2019 and will be applicable to the Company in its annual report for the fiscal year ending December 31, 2021. Under the currently applicable 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 all necessary permits and government approvals must be filed with the appropriate governmental authority. Additionally, this press release and the Amended 2019 PFS use the terms “measured resources”, “indicated resources”, and “inferred resources”. We advise U.S. investors that while these terms are Canadian mining terms as defined in accordance with NI 43-101, such terms are not recognized under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources described in the Amended 2019 PFS have a great amount of uncertainty as to their economic and legal feasibility. 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 the Amended 2019 PFS is not permitted under the rules of 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 any or all part of an inferred resource will ever be upgraded to a higher category. 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.

DENVER, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today reported its unaudited financial results for the quarter ended September 30, 2020 and provided an update on the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in the Tier 1 mining jurisdiction of Northern Territory, Australia. Vista’s third quarter net income was $4.2 million or $0.05 per share, and cash plus short-term investments totaled $10.2 million.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “We are extremely pleased with our third quarter financial results. We believe our strong balance sheet provides a solid foundation as we continue to methodically advance and de-risk the world-class Mt Todd gold project and seek a strategic partner.”

With respect to exploration activities at Mt Todd, Mr. Earnest continued, “We believe that the higher-grade core zone of the Batman deposit could extend to the north. We have commenced a proof of concept drilling program to test targets known as the Batman north extension and hanging wall lodes. We are excited about the potential represented by these targets. Should the drill results confirm an extension of the structures and mineralization that form the Batman deposit, ongoing work could ultimately lead to future changes to the mine design, with the combined benefits of better grade and lower stripping.” Vista CEO Video.

Recent Developments

• Commenced a drilling program with the goal of confirming the existence of higher-grade, near surface mineralization immediately adjacent to the planned Batman pit – assay results from the first holes are expected in the next weeks with full program results continuing as the program progresses;
• Completed geotechnical field work for crusher and ball mill foundation designs that is expected to shorten the time required to complete a future feasibility study, reduce related initial capital cost estimates, and support detailed engineering; and
• Continued dewatering the Batman pit and lowered the water level by 17.8 meters, with approximately 2.1 gigalitres (“GL”) remaining. The Batman pit is expected to be effectively dewatered by mid-2021, representing an important milestone to be completed prior to a potential start of construction.

Mr. Earnest added, “Dewatering the Batman pit will mark the completion of a program to treat over 11 GL of acidic mine waste rock drainage and subsequently discharge that volume as clean water. The protocols developed at Mt Todd have been recommended to other mining companies by the Northern Territory Environmental Protection Agency. We are proud of the success achieved to-date. This program exemplifies our commitment to environmental stewardship. It has been one of the cornerstone activities that has cemented the excellent relationship we enjoy with the local project stakeholders and communities.”

Summary of Third Quarter 2020 Financial Results

At September 30, 2020, cash plus short-term investments (comprised of government securities) totaled $10.2 million and working capital was $9.9 million. We expect our current cash position to be further strengthened by up to $4.6 million from upcoming cash payments of $2.1 million from Prime Mining Corp. (“Prime Mining”) and an option payment of $2.5 million from the cancelation of the Company’s royalty on the Awak Mas project. The Company has no debt.

Vista reported net income of $4.2 million, or $0.05 per share for the three months ended September 30, 2020. The Company benefited from a gain of $3.5 million associated with the final Guadalupe de los Reyes (“Los Reyes”) purchase price payment and transfer of Los Reyes to Prime Mining and a gain of $2.4 million from sales of other investments.

About Vista Gold Corp.

Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier 1 jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

Management Conference Call

Management’s quarterly conference call to discuss these results is scheduled for 10:00 a.m. MDT on October 29, 2020. Management’s Discussion and Analysis together with other important disclosures are available in the Company’s Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Participant Toll Free: 800-367-2403
Participant International: 334-777-6978
Conference ID: 7545208

This call will also be archived and available at www.vistagold.com after October 29, 2020. Audio replay will be available for 21 days by calling toll-free in North America 888-203-1112 with passcode 7545208.

If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to This email address is being protected from spambots. You need JavaScript enabled to view it..

All dollar amounts in this press release are in U.S. dollars.

For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including such things as the expected date for our management’s call regarding our financial results; our belief that the higher-grade core zone of the Batman deposit could extend to the north; that ongoing work on the Batman deposit could ultimately lead to future changes to the mine design, with the combined benefits of better grade and lower stripping; that assay results from the first holes drilled adjacent to the Batman pit are expected in the next weeks; that the results of geotechnical field work is expected to shorten the time required to complete a future feasibility study, reduce related initial capital cost estimates, and support detailed engineering; that the Batman pit is expected to be effectively dewatered by mid-2021; our expectation to receive upcoming cash payments from Prime Mining and from the cancelation of the Company’s royalties on the Awak Mas project; our plans to continue to advance the process of seeking a partner for the construction and development of Mt Todd; our plans to continue to efficiently optimize and advance Mt Todd; and our belief that Mt Todd is the largest undeveloped gold project in Australia, and if developed, that it would be Australia’s 6th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; our approved business plans, our mineral resource and reserve estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on our projects, if any; our experience with regulators; our experience and knowledge of the Australian mining industry and our expectations of economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; uncertainty as to completion of critical milestones for Mt Todd; and uncertainty as to the impact of the ongoing global health crisis caused by the COVID-19 pandemic; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed in February 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise. 

DENVER, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that the Company, Jawoyn Association Aboriginal Corporation (“Jawoyn Association”), and Barnjarn Aboriginal Corporation have entered into a Deed of Variation (the “Agreement”) to modify the original 2006 agreement with respect to the Mt Todd gold project (“Mt Todd” or the “Project”). 

The Agreement provides the Jawoyn Association with a gross proceeds royalty (“GPR”) instead of its previous right to become a 10% participating joint venture partner in Mt Todd and provides Vista with greater flexibility in its decisions to develop and operate Mt Todd. In addition, Vista and the Jawoyn Association agreed to establish a leaders forum, formalized the Jawoyn Association’s strong support for Mt Todd and outlined a framework to optimize training, employment, and contracting opportunities for the Jawoyn people and businesses.

Frederick Earnest, President and CEO of Vista, stated, “Our relationship with the Jawoyn people is very important to Vista and is built on trust, mutual respect and open communication over the last 14 years. This Agreement provides Vista with a simplified project structure and the Jawoyn Association with a royalty in place of the risks and obligations of financing a participating interest.

“The cooperation and support commitments confirm our shared vision of promoting cross-cultural awareness, protecting cultural heritage sites, and providing economic opportunities for aboriginal people as integral components of the development of Mt Todd. The clarity this Agreement provides will be especially meaningful as we advance to discussions with potential development partners.”

Royalty

Under the terms of the original 2006 agreement, the Jawoyn Association was granted, among other consideration for the use of the surface land required to build and operate Mt Todd, a 1.0% GPR and the right to elect to establish a joint venture with Vista holding a 90% participating interest and the Jawoyn Association holding a 10% participating interest in Mt Todd. Instead of the right to elect to hold a 10% participating interest, the Agreement provides the Jawoyn Association with an additional GPR ranging between 0.125% and 2.000%, depending on prevailing gold prices and foreign exchange rates. The additional GPR would be 1.0% at present market conditions.

Social and Cultural

Vista and the Jawoyn Association have agreed to collaboratively promote and advance cross-cultural awareness, develop a regional employment strategy and establish protocols for ongoing protection and management of cultural heritage sites. Additionally, the Company and the Jawoyn Association have established a framework for creating opportunities for training and employment and for the development of aboriginal businesses in a mutually beneficial manner. Vista has long supported, promoted and fostered employment opportunities for aboriginal people at Mt Todd and this framework provides a path for continuing success. Both parties have agreed to work closely together to formalize these initiatives over the next 12 months.

A leaders forum will be established to provide ongoing coordination between the Company and the Jawoyn Association as part of the shared interest in the development of a project that is expected to provide significant economic benefit for the Jawoyn people, while respecting their culture and traditions. These initiatives reiterate the Jawoyn Association’s strong support for the Project and Vista’s unwavering commitment to social and corporate responsibility.

Mr. Earnest concluded, “As we have advanced Mt Todd, we have enjoyed strong support from the Jawoyn Association, Northern Territory Government and local communities as a result of our environmental management of the Mt Todd site and commitment to responsible development of the Project. This Agreement provides both the Jawoyn Association and Vista with a clear view of the future as we move forward together.”

About Mt Todd

Mt Todd is designed to be a large-scale, low-cost gold mine located in the mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is expected to produce approximately 495,000 ounces of gold per year during the first five years of operation with lowest quartile in-country and global all in sustaining costs. Mt Todd’s extensive 1,100 km² of exploration licenses offer excellent potential to expand gold resources and reserves and increase the life of the mine. All major environmental permits have been approved.

About Vista Gold Corp.

Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier 1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, Mt Todd would potentially be the sixth largest gold producer in Australia on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

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 we expect or anticipate will or may occur in the future, including such things as the future value of the GPR, continuing strong support for Mt Todd by the Jawoyn Association and the Northern Territory Government, the future value of Mt Todd, that Mt Todd is the largest undeveloped gold project in Australia, our ongoing efforts to seek development of Mt Todd to potentially be Australia’s 6^th largest gold producer and produce an average of 495,000 ounces of gold during the first five years of operation with lowest quartile in-country and global all in sustaining costs, and that Mt Todd’s 1,100 km² of exploration licenses offer excellent potential to expand resources and reserves and increase the life of the mine are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

DENVER, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to provide initial drill results from the ongoing drilling program at the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia.

In late October, the Company commenced an eight-hole proof of concepts drilling program to test targets known as the Batman Hanging Wall Lode and the Batman North Extension. The goal of the program is to confirm the existence of higher-grade mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. The first hole (VB20-001) targeted the Batman Hanging Wall Lode to the east of the main Batman structure. The remaining holes will target the Batman North Extension, where drilling is progressing.

Hole VB20-001 Highlights

• Confirmed the existence of a mineralized zone that is believed to be a connection between the main Batman structure and the Golf-Tollis structure;
• Intersected the mineralized zone as projected and found the zone to be thicker than previously expected aggregating to 60 meters of 0.72 grams of Au/ton that contained three higher grade intervals; and
• Demonstrated the presence of potentially higher grade material within the mineralized zone with a single one-meter assay of 7.79 grams of Au/tonne.

Frederick Earnest, President and CEO of Vista commented, “We are encouraged by the results received so far. Over the last year, our geologists have been evaluating the potential continuity and connectivity of the mineralized structures extending from the Batman deposit northeast ~5.4 Km to the Quigleys deposit. The results of this first hole confirm our initial interpretation and suggest that additional drilling could result in the basis for an increase in the mineral resource estimates both within and outside the currently designed Batman pit. We are now drilling the third of three holes on a fence across the Batman North Extension. Should the results from these next three holes confirm an extension of the structure and mineralization that forms the Batman deposit, additional drilling could ultimately lead to future changes to the mine design.” Vista Gold CEO Video

The assay results are summarized below.

Figure 1 – Batman Hanging Wall Lode 

The plan view above shows the interpreted location of the Batman Hanging Wall Lode. VB20-001 intersected the lode at the predicted location and encountered a thicker mineralized zone than anticipated. As shown, the Batman Hanging Wall Lode splays off from the known Hanging Wall Lodes adjacent to the Core Zone and trends to the northeast where it connects to a thickening zone of mineralization that is in alignment with the mineralized structure that hosts the Golf-Tollis known mineralization.

Figure 2 – Section A-A’ (8435650N) 
VB20-001 (see below)

In the cross section below the location and assay results of VB20-001 are shown relative to the core and hanging wall zones of the Batman deposit. The subsequent cross section provides a closer view of hole VB20-001 and the drill results within the confines of the Batman Hanging Wall Lode.

Figure 3 – Enlargement of VB20-001 

Qualified Person

John Rozelle, Vista’s Sr. Vice President, a Qualified Person (QP) as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has verified the data underlying the information contained in and has approved this press release.

Data Verification and QA/QC

The sampling method and approach for the drillholes are as follows:

• The drill core, upon removal from the core barrel, is placed into plastic core boxes;
• The poly core boxes are transported to the sample preparation building;
• The core is marked, geologically logged, geotechnically logged, photographed, and sawn into halves. One-half is placed into sample bags as one-meter sample lengths, and the other half retained for future reference. The only exception to this is when a portion of the remaining core has been flagged for use in the ongoing metallurgical testwork;
• The bagged samples have sample tags placed both inside and on the outside of the sample bags. The individual samples are grouped into “lots” for submission to Northern Analytical Laboratories for preparation and analytical testing; and
• All of this work was done under the supervision of a Vista geologist.

Processing of the core included photographing, geotechnical and geologic logging, and marking the core for sampling. The nominal sample interval was one meter. When this process was completed, the core was moved into the core cutting/storage area where it was laid out for sampling. The core was laid out using the following procedures:

• One meter depth intervals were marked out on the core by a member of the geologic staff;
• Core orientation (bottom of core) was marked with a solid line when at least three orientation marks aligned and used for structural measurements. When orientation marks were insufficient an estimated orientation was indicated by a dashed line;
• Geologic logging was then done by a member of the geologic staff. Assay intervals were selected at that time and a cut line marked on the core. The standard sample interval was one-m, with a minimum of 0.2 m and a maximum of 1.2 m;
• Blind sample numbers were then assigned based on pre-labeled sample bags. Sample intervals were then indicated in the core tray at the appropriate locations; and
• Each core tray was photographed and restacked on pallets pending sample cutting and stored on site indefinitely.

The core was then cut using diamond saws with each interval placed in sample bags. At this time, the standards and blanks were also placed in plastic bags for inclusion in the shipment. A reference standard or a blank was inserted at a minimum ratio of 1 in 10 and at suspected high grade intervals additional blanks sample were added. Standard reference material was sourced from Ore Research & Exploration Pty Ltd and provided in 60 g sealed packets. When a sequence of five samples was completed, they were placed in a shipping bag and closed with a zip tie. All of these samples were kept in the secure area until crated for shipping.

Samples were placed in crates for shipping with 100 samples per crate (20 shipping bags). The crates were stacked outside the core shed until picked up for transport.

The QP is satisfied that sample security measures meet industry standards. Statistical analysis of the various drilling populations and quality assurance/quality control (QA/QC) samples has not either identified or highlighted any reasons to not accept the data as representative of the tenor and grade of the mineralization estimated at the Batman deposit. NAL Pty. Ltd and Genalysis Laboratory Services Pty Ltd. are both independent of the Company.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6^th largest gold producer on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

Forward Looking Statement

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 we expect or anticipate will or may occur in the future, including such things as our belief that we have identified the up plunge, northern extension of the higher-grade Batman core zone and our expectation that this will lead to additional efforts to evaluate the continuity of mineralization along the structural corridor northeast of the Batman deposit; our belief of the existence of a mineralized zone that is a connection between the main Batman structure and the Golf-Tollis structure; our belief that additional drilling could result in the basis for an increase in the mineral resource estimates both within and outside the current Batman pit; the possibility that successful completion of the drill program at the Batman pit could form the basis for future changes to the mine design, with the combined benefits of better grade and lower stripping; and our belief that Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Denver, Colorado, September 14, 2020 – Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to provide an update on the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia and outline strategic growth opportunities.

Key Highlights

Vista continues to advance programs expected to add value and de-risk Mt Todd. Recent and ongoing programs include:

• A drill program to test Batman North extensions, with the goal of adding higher-grade, near surface mineral resources immediately adjacent to the planned Batman pit
• Geotechnical drilling and foundation investigations to shorten the time required to complete a feasibility study and support future detailed engineering
• Ongoing internal evaluations to assess the potential to increase recovered gold resources and extend the life of the Project
• Internal evaluations on Project economic sensitivity information
• Lowering water levels in the Batman pit through successful water management program implementation
• Advancing the review process of the Mine Management Plan (“MMP”) to final stages of approval

Frederick Earnest, President and CEO of Vista commented, “With the steady improvement in the gold price, Vista continues to pursue opportunities to add additional value to Mt Todd, beyond the significant positive impact of the current gold price, and further de-risk the Project. Our ongoing efforts focus on securing approval of our last major permit, the MMP, improving the Project execution timeline, and organic growth opportunities immediately adjacent to the proposed Batman pit and at other prioritized exploration targets.

The compilation of previously reported geologic data and subsequent field investigations of that existing data have identified what we believe is the up-plunge, northern extension of the higher-grade Batman core zone as further discussed in our news release dated June 2, 2020. Confirmation of the surface geology work through drilling is expected to lead to additional efforts to evaluate the continuity of mineralization along the structural corridor northeast of the Batman deposit.

Sustained current gold prices demonstrate the tremendous leverage that Mt Todd enjoys. Our mine plan is conservatively based on a US$1,000 gold price. Given recent and sustained higher gold prices, we are conducting an internal evaluation to assess the potential impact of increasing the gold price used for mine planning. We anticipate that a modest change to that gold price may increase reserves and mine life. Mt Todd is well advanced, de-risked and with the appropriate partner, ready to transition from an exploration and development project to a large-scale, low-cost gold producer.”

Drilling to Test Batman North Extensions

As mentioned above, the compilation and evaluation of previously reported geological information identified two areas of interest immediately adjacent to the currently designed Batman pit. Surface mapping and sampling have been completed and a drill program to test these higher-grade, near surface targets is being initiated. Successful completion of this program could form the basis for future changes to the mine design, with the combined benefits of better grade and lower stripping. Furthermore, this drilling marks our first efforts to confirm the continuity of gold mineralization within the structural corridor extending from the Batman deposit northeast ~5.4 Km to the Quigleys deposit.

Geotechnical Drilling and Foundation Investigations

One of the recommendations in the October 2019 preliminary feasibility study (the "2019 PFS") for Mt Todd is to complete site-specific geotechnical investigations for all of the foundations associated with heavy process plant equipment. Drilling and test pit excavations have been completed. Lab results from this work are being finalized and are expected to decrease the time needed to complete a feasibility study when deemed appropriate, reduce the initial capital cost estimates for those foundations, and provide information for future detailed engineering.

Internal Evaluations Related to Higher Gold Prices

The 2019 PFS Batman open pit design and reserve estimates are based on a US$1,000 gold price Learchs-Grosman (“LG”) cone. With the recent sustained increase in gold prices, Vista is evaluating the economic impact of changing the US$1,000 gold price for the LG cone to US$1,100 or US$1,200, which has the potential to increase the recovered resources and extend the life of the Project.

Water Management Program

Our water management program implemented in 2014 has yielded significant results at the Project site. When initiated, the total water inventory at site was approximately 16.6 gigalitres (“GL”) of water. The Batman pit contained approximately 11.5 GL of this total. Through August 2020, the total water inventory was 5.52 GL with the Batman pit containing 2.20 GL of this total. Complete dewatering of the Batman pit is now possible prior to a potential start of construction.

Mine Management Plan

Vista continues to work with the Northern Territory Division of Mines on the approval of the Mt Todd Mine Management Plan, which is the equivalent of a mine operating permit in North America. In March of this year, we were asked to provide several independent assessments of our designs and operating/closure plans. Those assessments have been favorably completed and final corresponding documents have been submitted. We are hopeful that in the coming months we will receive final approval of the MMP. Once approved, Vista will hold all major permits for the Project.

All dollar amounts stated herein are in United States currency and are expressed as $ unless specified otherwise.

About Vista Gold Corp.

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis.

For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.

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 we expect or anticipate will or may occur in the future, including such things as our expectation that Vista’s ongoing efforts will secure approval of the MMP, improve the Project execution timeline, and achieve organic growth opportunities immediately adjacent to the proposed Batman pit and at other prioritized exploration targets; our belief that we have identified the up plunge, northern extension of the higher-grade Batman core zone and our expectation that this will lead to additional efforts to evaluate the continuity of mineralization along the structural corridor northeast of the Batman deposit; our anticipation that a modest change to gold price may increase reserves and mine life; our belief that Mt Todd is ready to transition to a large-scale, low-cost gold producer; the possibility that successful completion of the drill program at the Batman pit could form the basis for future changes to the mine design, with the combined benefits of better grade and lower stripping; our expectation that lab results from drilling and test pit excavations will decrease the time needed to complete a feasibility study, reduce the initial capital cost estimates for those foundations, and provide information for future detailed engineering; our expectation that if a determination to update the gold price was made, the economic impact of changing the US$1,000 gold price for the LG cone to US$1,100 or US$1,200 has the potential to increase the recovered resources and extend the life of the Project; and our belief that Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our discussions and contractual arrangements with Prime Mining, our reliance that Prime Mining will be able to raise funds to finance its business plans; our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our 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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Denver, Colorado, February 26, 2020 – Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its audited financial results and highlights for the fiscal year ended December 31, 2019. Management’s quarterly conference call to discuss these results is scheduled for 2:30 p.m. MST on March 5, 2020. The Company’s consolidated audited financial statements and Management’s Discussion and Analysis together with other important disclosures can be found in the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Highlights for 2019

• Reported positive results for the updated October 2019 preliminary feasibility study (the “2019 PFS”) for the Mt Todd gold project (“Mt Todd” or the “Project”) with improved after-tax net present value at a 5% discount rate (“NPV_5%”) of $823 million and internal rate of return (“IRR”) of 23.4% at a gold price of $1,350 per ounce and a $0.70=A$1.00 exchange rate and after-tax NPV_5% of $1.5 billion and IRR of 38.3% at a gold price of $1,650 per ounce and a $0.65=A$1.00 exchange rate;
• Completed a comprehensive metallurgical optimization program that demonstrated improved life-of-mine gold recovery of 91.9% and total recovered gold of 5.3 million ounces⁽¹⁾;
• Completed an independent benchmarking study to assess the appropriateness of capital and operating cost estimates, construction and ramp-up schedules, owner’s costs and key components of the Project;
• Received $3.2 million cash in option payments and related fees from Prime Mining Corp. under the option agreement for the Company’s Los Reyes gold / silver project in Sinaloa, Mexico;
• Amended the Company’s royalty agreement for the Awak Mas gold project in Indonesia, pursuant to which PT Masmindo DWI Area has the option to cancel the 2% net smelter return (the “NSR”) royalty payable to Vista by making an initial payment of $100,000 and issuing 666,667 shares of Nusantara Resources Limited (received by Vista in November 2019), and making future payments to Vista in the amounts of $2.4 million payable April 30, 2020 and $2.5 million payable April 30, 2021, with each payment canceling 1% of the NSR royalty; and
• Strengthened Vista’s board of directors and senior management team with the appointments of Deborah Friedman as a Director, Doug Tobler as Chief Financial Officer, and Pamela Solly as Vice President of Investor Relations.

• The life of mine plan includes both proven and probable mineral reserves. See “Project Mineral Resources and Reserves” below for further information.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “During 2019 we achieved several significant milestones as we continued to advance and de-risk the Mt Todd gold project. We completed several major project initiatives highlighted by the 2019 PFS, generated cash of $3.3 million from non-dilutive financing opportunities, and strengthened our senior management team and board of directors with the appointments of several accomplished and experienced mining executives.

As part of our 2019 initiatives, we completed a comprehensive metallurgical optimization program, the 2019 PFS, and an independent benchmarking study. These initiatives, combined with other de-risking activities, demonstrate the robust economics and advanced stage of Mt Todd.

In 2020, our primary focus will be to secure a strategic partner for the development of Mt Todd. With the continued improvement in gold price, we are evaluating the positive impact of higher gold prices on mine plans and project economics. The following figures illustrate the Project’s after-tax economics at various gold price and exchange rate assumptions. We continue to de-risk Mt Todd in a cost-effective manner and work with NT Department of Primary Industries and Resources to receive authorization of the Mt Todd Mine Management Plan.”

_{The 2019 PFS results calculated using US$1350/oz gold and US$0.70 per A$. Reserves have been calculated using a US$1,350 gold price, average recovery of 91.9%, 1% gross proceeds royalty, life of mine mining costs of US$6.02 per tonne ore, life of mine processing costs of US$7.88 per tonne ore, life of mine G&A costs of US$1.11 per tonne ore, US$0.16 per tonne ore for project services and US$0.077 per tonne ore for refining.  Reserves are quoted using a 0.40g Au/t cutoff grade.}

Summary of Financial Results

For the fiscal year ended December 31, 2019, Vista reported a net loss of $9.4 million, or $0.09 per share, compared to $8.7 million, or $0.09 per share for the fiscal year ended December 31, 2018. The loss for the fiscal year ended December 31, 2019 is comprised of $8.1 million of operating expenses and a $1.6 million mark-to-market loss on our investment in Midas Gold Corp., offset by other income of $0.3 million. The loss for the fiscal year ended December 31, 2018 is including $10.8 million of operating expenses and a $1.7 million mark-to-market gain on our investment in Midas Gold Corp., and other income of $0.4 million.

Working capital at December 31, 2019 was $7.8 million, including cash and short-term investments (comprised of government securities) of $4.7 million. Working capital at December 31, 2018 was $13.2 million, including cash and short-term investments (comprised of government securities) of $8.1 million. The Company has no debt. 

Project Mineral Resources and Reserves

The table below presents the estimated mineral resources and reserves for the Project.  The effective date of the Batman and Quigleys deposits mineral resource estimates is January 24, 2018.  The effective date of the heap leach mineral resource estimate is July 9, 2014. 

_{Note:  Mineral reserves have been calculated using a US$1,350 gold price, average recovery of 91.9%, 1% gross proceeds royalty, life of mine mining costs of US$6.02 per tonne ore, life of mine processing costs of US$7.88 per tonne ore, life of mine general and administrative costs of US$1.11 per tonne ore, US$0.16 per tonne ore for project services and US$0.077 per tonne ore for refining.  Mineral reserves are quoted using a 0.40g Au/t cutoff grade. Mineral reserves are estimated pursuant to Canadian disclosure standards and do not constitute mineral reserves under SEC Industry Guide 7 standards. See “Cautionary Note to United States Investors” below.}

Note: Measured & indicated mineral resources include proven and probable mineral reserves.  Batman and Quigleys mineral resources are quoted at a 0.40g Au/t cut-off grade.  Heap Leach mineral resources are the average grade of the heap, no cut-off grade applied.  Economic analysis conducted only on proven and probable mineral reserves.  Rex Bryan of Tetra Tech is the Qualified Person responsible for the geologic mineral resource estimates.  Thomas Dyer of Mine Development Associates is the Qualified Person responsible for developing mineral reserves for the Batman deposit.  Dr. Deepak Malhotra of Resource Development Inc. is the Qualified Person responsible for the metallurgical data and program, and for developing mineral reserves for the heap leach.  See “Cautionary Note to United States Investors” below.

The 2019 PFS was authored by Tetra Tech Inc. (“Tetra Tech”) with Mine Development Associates, Resource Development Inc., Proteus EPCM Engineers (a Tetra Tech Company, “Tetra Tech Proteus”), JDS Energy & Mining, Inc., and POWER Engineers, Inc.

 John Rozelle, Vista’s Sr. Vice President, a Qualified Person as defined by NI 43-101, has approved the information in this press release. For additional information on data verification, quality assurance and control, key assumptions and other matters relating to the Project, see Vista’s Annual Report Form on10-K as filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml on February 26, 2020.

Technical Report on Mt Todd

For further information on the Mt Todd Gold Project, see the Technical Report entitled “NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia” with an effective date of September 10, 2019 and an issue date of October 7, 2019, which is available on SEDAR as well as on Vista’s website under the Technical Reports section.

Management Conference Call

A conference call with management to review our financial results for the fiscal year ended December 31, 2019 and to discuss corporate and project activities is scheduled for Thursday, March 5, 2020 at 2:30 p.m.  MST.

Participant Toll Free: 844-898-8648
International:  647-689-4225
Conference ID:  3097238

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

https://onlinexperiences.com/Launch/QReg/ShowUUID=3CD037F2-42AA-4A38-9B54-9C7837619AC3

This call will be archived and available at www.vistagold.com after March 5, 2020.  Audio replay will be available for 21 days by calling toll-free in North America: 855-859-2056.

If you are unable to access the audio or phone-in on the day of the conference call, please email questions to Pamela Solly, Vice President of Investor Relations, at This email address is being protected from spambots. You need JavaScript enabled to view it.. We will try to address these questions prior to or during the conference call.

All dollar amounts in this press release are in U.S. dollars. References to “A$” refer to Australian dollar.

About Vista Gold Corp.

The Company is a well-funded gold project developer. The Company’s principal asset is its flagship Mt Todd gold project in Northern Territory, Australia.  Mt Todd is the largest undeveloped gold project in Australia.

For further information, please contact the Company at (720) 981-1185.

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 we expect or anticipate will or may occur in the future, including such things as the projected economics of the Mt Todd gold project in the 2019 PFS, including the after-tax net present value at a 5% discount rate and the internal rate of return, the estimated life of mine gold recovery and total recovered gold for the Mt Todd gold project, estimated capital and operating costs, construction and ramp-up schedules, owner’s costs and other key components of the Mt Todd gold project, receipt of future option payments for the Awak Mas project, the Company’s focus on securing a strategic partner for the development of Mt Todd, continued efforts to de-risk Mt Todd, timing and receipt of authorization of the Mt Todd Mine Management Plan from the NT Department of Primary Industries and Resources and reserve and resource estimates at Mt Todd are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: no change to laws or regulations impacting mine development or mining activities, our approved business plans, mineral resource and reserve estimates and results of preliminary economic assessments, preliminary feasibility studies and feasibility studies on our projects, if any, our experience with regulators, our experience and knowledge of the Australian mining industry and positive changes to current economic conditions and the price of gold.  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 the Company 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 and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; 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 our operations of environmental regulations in the countries in which the Company operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which the Company operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed on February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although we have 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, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

Cautionary Note to United States Investors

The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. This press release uses the terms “Proven reserves” and “Probable reserves”.  Reserve estimates contained in this press release are made pursuant to NI 43-101 standards in Canada and do not represent reserves under the standards of the SEC’s Industry Guide 7  and may not constitute reserves under the SEC’s newly adopted disclosure rules to modernize mineral property disclosure requirements, which became effective February 25, 2019 and will be applicable to the Company in its annual report for the fiscal year ending December 31, 2021.  Under the currently applicable 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 all necessary permits and government approvals must be filed with the appropriate governmental authority.  Additionally, this press release uses the terms “Measured resources”, “Indicated resources”, and “Measured & Indicated resources”.  We advise U.S. investors that while these terms are Canadian mining terms as defined in accordance with NI 43-101, such terms are not recognized under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC.  Mineral resources described in this press release have a great amount of uncertainty as to their economic and legal feasibility. 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.  “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 any or all part of an Inferred resource will ever be upgraded to a higher category. 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.