Vista Gold

Vista Gold Corp. ("Vista") (Amex: VGZ; TSX) announced that it has received correspondence from the local La Paz office of the Mexican Environmental and Natural Resource Service (SEMARNAT) which indicates that staff in that office are of the opinion that the Change of Land Use Permit approved by SEMARNAT in 1997 in relation to the Paredones Amarillos Project is no longer valid. This permit is necessary for the development of the Paredones Amarillos Project to proceed. Vista has been advised by its advisors that the permit remains valid and is investigating the basis for the staff's position, and intends to take immediate steps to confirm the validity of the permit and if necessary, to address any issues identified by SEMARNAT. Vista's management believes that any related issues will be resolved without any significant delay to the expected timing for completion of the definitive (bankable) feasibility study or the proposed timetable for development of the Paredones Amarillos Project but will provide further information as soon as it is in a position to do so.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including the preparation of a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the last quarter of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, and the Long Valley Project in California.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable 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 contemplated development scenarios for the Paredones Amarillos Project; progress, scheduling and the performance and results of feasibility studies including the ongoing bankable feasibility study for the Paredones Amarillos Project; status of permits for the Project and anticipated timing of commencement of construction and commencement of production at the Paredones Amarillos Project; plans for a feasibility study at the Mt. Todd Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, Vista's potential status as a producer, and other such matters are forward-looking statements. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements. 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 forward-looking statements. Such factors include, among others, risks relating to delays and incurrence of additional costs in connection with the feasibility study underway at our Paredones Amarillos Project; uncertainty of feasibility study results and preliminary assessments and of estimates on which such results are based; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of significant cost increases; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; uncertainty of being able to raise capital on favorable terms or at all; and external risks relating to the economy and credit markets in general; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista" or the "Company") (TSX & Amex: VGZ) is pleased to announce that Canadian National Instrument 43-101 silver and copper resource estimates for the Batman deposit at the Mt. Todd Gold Project in Northern Territory, Australia have been completed on April 24, 2008, by Tetra Tech of Golden, Colorado. These silver and copper resource estimates were completed under the direction of Mr. John Rozelle, P.G., an independent Qualified Person, utilizing standard industry software and resource estimation methodology. Mr. Rozelle has reviewed and verified the technical and scientific information contained in this press release. These resource estimates complement the updated gold resource estimate for the Batman deposit announced by Vista in its press release dated February 27, 2008. The resource estimates incorporate the results of 9,460 assay intervals from 25 drill holes (all core holes) drilled by Vista in 2007 with assaying completed by Northern Australia Labs in Pine Creek and ALS-Chemex in Perth. These results are in addition to the results of 87 copper assays completed on random intervals from 730 drill holes (225 core, 435 reverse circulation and 70 rotary drill holes) done by BHP Resources Pty Ltd., Zapopan NL and Pegasus Gold Australia Pty Ltd. From the un-mined portion of the 730 drill holes previously completed (by BHP, Zapopan, & Pegasus), Vista submitted 2,979 intervals of core for re-assay and multi-element analysis. The re-assay and multi-element analysis was completed by ALS-Chemex in Perth and has been incorporated into the resource estimates.

The silver and copper resource estimates presented below in Table 1 and Table 2, respectively, represent only those silver and copper resources contained within blocks previously classified as containing Measured Gold Resources(1), Indicated Gold Resources(1), or Inferred Gold Resources(2) in the February 26, 2008 gold resource estimate for the Batman deposit. This is presented below in Table 3 for comparison. The gold, copper and silver resource estimates were estimated using a cutoff grade of 0.50 grams of gold per tonne (0.015 ounces of gold per ton). The estimates were prepared using GEMCOM software and used whole block kriging to estimate block values.

                    Table 1 - Silver Resource Estimate

   Resource       Metric       Average      Short    Average       Contained
  Classification  Tonnes        Grade       Tons      Grade    Silver Ounces
                  (x1000)   (grams/tonne)  (x1000) (ounces/ton)     (x1000)

  Measured(1)    43,543        1.43        47,987       0.042         2,002
  Indicated(1)   45,746        1.53        50,425       0.045         2,261
  Measured &
   Indicated(1)  89,280        1.48        98,413       0.043         4,263
  Inferred (2)   58,816        1.71        64,832       0.050         3,231



                    Table 2 - Copper Resource Estimate

   Resource        Metric     Average     Short       Average      Contained
  Classification   Tonnes     Grade       Tons        Grade    Copper Pounds
                  (x1000)    (% Cu)      (x1000)      (% Cu)         (x1000)

  Measured(1)      43,543      0.05        47,987      0.05        45,014
  Indicated(1)     45,746      0.05        50,425      0.05        48,765
  Measured &
   Indicated(1)    89,280      0.05        98,413      0.05        93,744
  Inferred(2)      58,816      0.05        64,832      0.05        56,815



                     Table 3- Gold Resource Estimate

   Resource      Metric      Average       Short     Average      Contained
  Classification Tonnes       Grade        Tons      Grade       Gold Ounces
                 (x1000)   (grams/tonne)  (x1000)  (ounces/ton)      (x1000)

  Measured(1)    43,543        0.96       47,987       0.028         1,346
  Indicated(1)   45,746        1.05       50,425       0.031         1,549
  Measured &
   Indicated(1)  89,280        1.01       98,413       0.029         2,895
  Inferred(2)    58,816        0.81       64,832       0.024         1,532

  1)  Cautionary Note to U.S. Investors concerning estimates of Measured and
      Indicated Resources: This document uses the terms "measured resources"
      and "indicated resources". We advise U.S. investors that while these
      terms are recognized and required by Canadian regulations, the U.S.
      Securities and Exchange Commission does not recognize them. U.S.
      investors are cautioned not to assume that any part or all of mineral
      deposits in these categories will ever be converted into reserves.

  2)  Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This document uses the term "inferred resources". We advise
      U.S. investors that while this term is recognized and required by
      Canadian regulations, the U.S. Securities and Exchange Commission does
      not recognize it. "Inferred resources" have a great amount of
      uncertainty as to their existence, and great uncertainty as to their
      economic and legal feasibility. It cannot be assumed that all or any
      part of an inferred mineral resource will ever be upgraded to a higher
      category. Under Canadian rules, estimates of inferred mineral
      resources may not form the basis of a feasibility study or
      prefeasibility studies, except in rare cases. U.S. investors are
      cautioned not to assume that any part or all of an inferred resource
      exists or is economically or legally minable.

The estimation of the silver and copper resources are important first steps in determining the technical and economic feasibility of Vista's proposed approach to the potential development of the Mt Todd deposit. Vista proposes to use a flotation circuit to produce a marketable copper concentrate, estimated to contain approximately one half of the recoverable gold, which would be sold or toll smelted. The copper would represent a by-product credit. Vista completed a preliminary evaluation of this development approach and the results were announced in January 2007. The preliminary evaluation assumed copper grades of 400 parts per million or 0.04%, the current resource estimate indicates copper grades approximately 25% higher at 0.05% copper. Metallurgical test work is currently in progress to determine the process parameters for the flotation circuit and to estimate the concentrate quality. Vista is also testing various grinding technologies, including high pressure crushing rolls (HPGR) to determine the most economical and practical approach. Vista's metallurgical consultants have informed Vista that HPGR technology may offer considerable savings in operating costs over other types of ore grinding. For more information on the preliminary evaluation and the resource estimate completed in February 2008, please refer to Vista's January 4, 2007 and February 27, 2008 press releases or the Company's website (http://www.vistagold.com/) for copies of the complete studies. A technical report for the updated silver and copper resource estimates will be filed on SEDAR on or before June 5, 2008.

The first of two drill rigs has arrived at Mt. Todd and started drilling. Vista plans to complete more than 5,000 meters of core drilling this year. We expect the second drill rig to be on site and in operation by the end of April. The drilling program is designed to increase the density of sampling, so that if successful, the new information obtained will cause the Inferred Resources(2) estimated in 2007 to be upgraded to Measured and Indicated Resources(1) and to test the potential for increasing the total resource estimate by sampling the down-dip extension of the known resource.

Fred Earnest, President and COO of Vista Gold Corp., stated, "The 2007 drilling program was successful in adding ounces to the Mt. Todd resource and increasing our understanding of the deposit. This year's drilling program is designed to build on that understanding and add to the resource base. The completion of the silver and copper resource estimates is another step forward in our systematic evaluation of the Mt. Todd deposit. We expect the new resource model, coupled with the metallurgical testing currently in progress, to allow us to capitalize on the experience of previous owners and create value from the sources of previous operational challenges."

About Mt. Todd

The Mt. Todd Project is situated within the southeastern portion of the Early Proterozoic Pine Creek Geosyncline. The Batman deposit geology consists of a sequence of hornfelsed interbedded greywackes and shales with minor thin beds of felsic tuff. Bedding consistently strikes at 325 degrees, dipping 40 to 60 degrees to the southwest. Northerly trending sheeted quartz sulfide veins and joints striking at 0 to 20 degrees and dipping 60 degrees to the east are the major location for mineralization in the Batman deposit. The veins are 0.04 to 4 inches in thickness with an average thickness of around 0.4 inches and occur in sheets with up to 6 veins per horizontal foot. In general, the Batman deposit is 4,800 to 5,100 feet in length by 1,200 to 1,500 feet in true width and 1,500 to 1,800 feet in known down-dip extension (the deposit is open along strike and at depth).

The deposit has a drill hole spacing that varies from 80 feet by 80 feet to 260-330 feet by 260-330 feet and generally averages 160 feet by 160 feet. All assaying was by fire assay on 50-gram charges with atomic absorption ("AA") finish. Tetra Tech has advised us that quality control and quality assurance methods employed by the various companies working at Mt. Todd were standard at the time of the work. According to Tetra Tech, quality control and quality assurance methods for previous drilling programs has been audited several times by independent consultants.

The 2007 drilling program consisted of 25 core holes resulting in a total of 9,460 assay intervals. As the Qualified Person, Mr. Rozelle reviewed the quality control and quality assurance methods implemented by Vista. Core was logged and cut under the direction of Vista's geologists and half-core segments were sent to independent labs in Pine Creek (Northern Australia Labs) and Perth (ALS-Chemex) for sample preparation and fire assay analysis/AA analysis. Both labs prepared and analyzed a statistically significant number of duplicate samples. In addition to submitting commercially acquired blanks and standards, Vista submitted pulps for re-analysis to the opposing lab.

Vista holds a large exploration land package to the north and east of the Batman deposit and will be undertaking preliminary exploration activities on the prospective land package in 2008. Several localized soil sampling programs were completed prior to the start of the wet season in 2007. Plans are being made for the start of more extensive field mapping and sampling programs with the expectation that conditions in the field will allow the programs to resume in April or May of this year.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including the preparation of a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia and Long Valley Project in California.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 plans for evaluation of the Mt. Todd Project including estimates of silver, copper and gold resources, preliminary assessment results and timing and anticipated results for drilling, field mapping and sampling programs to be undertaken at the Mt. Todd Project; potential for increasing estimated resources at the Mt. Todd Project and potential for higher grade mineralization at the Mt. Todd Project; estimates of ore reserves at the Batman deposit; estimates of silver and copper grades at the Batman deposit and results of metallurgical studies in connection with recovery of copper and gold in a marketable concentrate, and effectiveness of high pressure crushing rolls to process hard mineralized material; anticipated timing and results for preliminary and definitive feasibility studies to be undertaken at the Mt. Todd Project; anticipated timing and results for a definitive feasibility study being undertaken at the Paredones Amarillos Project; anticipated timing for construction and development activities at the Paredones Amarillos Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; Vista's potential status as a producer; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "will", "design", "estimate", "plan", "anticipate", "expect", "intend", "believe" 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 preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to scheduling for feasibility studies; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project and the Mt. Todd Project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

The forward-looking statements in this press release are based, in part, upon certain assumptions made by Vista and its consultants including, but not limited to: no material delay in the current timing for completion of the preliminary and definitive feasibility studies; no material delays in the securing of environmental permits; adequacy and availability of labor, water, and power; no material delays in the acquisition of surface rights; no material delays in the start and completion of construction; and no material changes in prices of labor, materials and supplies other than normal inflation.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista" or the "Corporation") (TSX & AMEX: VGZ) is pleased to announce that further to the Company's January 7, 2008 press release, the Company has finalized the purchase of gold ore processing equipment to be used at Vista's Paredones Amarillos Project in Baja California Sur, Mexico as contemplated by the Company's previously announced purchase agreement with A.M. King Industries, Inc. ("A.M. King") and Del Norte Company Ltd., a wholly owned subsidiary of A.M. King. The transportation of the major equipment items (gyratory crusher, SAG mill, ball mills and pebble crusher) from the Colomac Mill Site in the Northwest Territories in Canada to Edmonton, Alberta, pursuant to the agreement terms, started on March 1, 2008 and concluded on April 17, 2008. A portion of the other equipment acquired in the transaction has also been shipped. All of the shipped equipment is now in Vista's lay-down yard in Edmonton. Vista plans to transport the major equipment components for reconditioning at certified repair facilities and the other equipment items directly to its own facilities in Baja California Sur, Mexico for inspection and repair. The remaining equipment at the Colomac site, which is not critical to the development schedule, is scheduled to be dismantled during the summer and transported on the 2009 ice road.

Fred Earnest, President and COO, stated, "The equipment is ready for re-conditioning, which is scheduled to occur during the next six months. We have acquired the major processing equipment for our proposed plant at the Paredones Amarillos Project, at what we believe is a considerable savings in time and expense, compared to the purchase of new equipment. We are currently undertaking a definitive feasibility study to examine the technical and economic parameters associated with a potential mine operation to produce 130-150,000 ounces of gold per year. This study is scheduled for completion in July 2008. We expect to complete financing arrangements by the end of the third quarter and commence construction immediately thereafter. We currently anticipate a 12-month construction period, with first gold production planned for the fourth quarter 2009."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista has recently completed a preliminary feasibility study on the Paredones Amarillos Project in Mexico that indicated positive results at gold prices lower than those now prevailing. Vista plans to confirm these results with a definitive feasibility study in 2008. Vista is undertaking programs to advance the Paredones Amarillos Project so that construction can begin in the fourth quarter of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, and Long Valley Project in California.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 transportation of gold processing equipment for the Paredones Amarillos Project; the performance and results of feasibility studies including the ongoing bankable feasibility study for the Paredones Amarillos Project; and timing for commencement and completion of drilling and testing programs at the Paredones Amarillos Project; anticipated timing of commencement of construction and commencement of production at the Paredones Amarillos Project and plans for financing construction of the Project; results of drilling programs and prospects for exploration and conversion of resources at the Mt. Todd Project and plans for a feasibility study at the Mt. Todd Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward- looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays and incurrence of additional costs in connection with the feasibility study underway at the Paredones Amarillos Project, uncertainty of feasibility study results and preliminary assessments and of estimates on which such results are based; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of significant cost increases; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward- looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista") (TSX & Amex: VGZ) is pleased to announce the sale of its wholly-owned subsidiary Vista Gold (Antigua) Corp. ("Vista Gold Antigua") to Republic Gold Limited ("Republic"). Vista Gold Antigua indirectly held Vista's interest in the Amayapampa gold project in Bolivia. Under the terms of the transaction, Republic has agreed to pay Vista US$3.0 million in three payments of US$1.0 million. The first of these payments is due and payable upon the start of commercial production (as defined in the purchase and sale agreement) at Amayapampa followed by US$1.0 million payments on each of the first and second anniversaries of the start of commercial production. In addition, Republic has agreed to pay Vista a net smelter return royalty ("NSR") on the gold produced by or on behalf of Republic from the Amayapampa project in varying percentages depending on the price of gold per ounce. When gold is between US$500.01 and US$650.00 per ounce, a 2% NSR is payable, when the price of gold is between US$650.01 and US$750.00 per ounce, a 3% NSR is payable, and when the price of gold is US$750.01 per ounce and above, the NSR will be 3.5%. The NSR is capped at 720,000 gold equivalent ounces and no NSR payments are due to Vista if the gold price is below US$500 per ounce. Vista will retain a first right of refusal in the event Republic decides to sell the property and will also retain a right to re-acquire the property if Republic or Vista Gold Antigua have not moved to close a financing under a project financing facility within five years.

Fred Earnest, Vista's President and COO, stated, "We view the sale of Amayapampa as a strategic divestiture that will allow us to concentrate our financial and personnel resources on developing our larger Paredones Amarillos (Mexico) and Mt. Todd (Australia) projects. Republic has been involved in the Amayapampa project in recent years, and we believe that it has the experience and technical team to expeditiously place the project into production to take advantage of current gold price levels."

Additionally, Howard Harlan, Vice President Business Development, has announced that he intends to retire after 40 years in the mining industry and has tendered his resignation effective April 4, 2008. Mike Richings, Executive Chairman and CEO said "on behalf of the Board and all his friends at Vista, I would like to wish him a long and happy retirement and to thank him for his hard work, loyalty and his many valuable contributions to Vista. Howard has had some of the more difficult and challenging tasks we have faced -- he has always tackled them enthusiastically and with determination. We look forward to continuing our relationship in the future as he has indicated that he will be available to assist us on a part-time basis as a consultant."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the last quarter of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, and the Long Valley Project in California.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as the potential for gold production at the Amayapampa Project and timing for commencement of production; and timing and receipt of future payments in connection with the sale of the Amayapampa Project; the performance and results of feasibility studies including the ongoing bankable feasibility study for the Paredones Amarillos Project; and anticipated timing of commencement of construction and commencement of production at the Paredones Amarillos Project; results of drilling programs and plans for a feasibility study at the Mt. Todd Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, Vista's potential status as a producer, and other such matters are forward-looking statements. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements. 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 forward-looking statements. Such factors include, among others, risks relating to delays and incurrence of additional costs in connection with the feasibility study underway at our Paredones Amarillos Project; uncertainty of feasibility study results and preliminary assessments and of estimates on which such results are based; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of significant cost increases; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; uncertainty of being able to raise capital on favorable terms or at all; and external risks relating to the economy and credit markets in general; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today its financial results for the year ended December 31, 2007, as filed on March 17, 2008 with the U.S. Securities and Exchange Commission and the Canadian Securities Commission in Vista's Annual Report on Form 10-K. For the year ended December 31, 2007, Vista reported a consolidated net loss of US$14.2 million or US$0.44 per share compared to the 2006 consolidated net loss of US$4.2 million or US$0.16 per share. The increase of US$10.0 million in the net loss for 2007 is primarily the result of an increase in the loss from discontinued operations of US$4.1 million, costs of US$2.9 million related to the completion of the Arrangement (discussed below), an increase in corporate administration and investor relations costs of US$2.7 million and an increase in exploration, property evaluation and holding costs of US$0.3 million.

The losses from discontinued operations of US$6.3 million in 2007 and US$2.3 million in 2006 are primarily the result of two factors. The first contributing factor relates to the completion of the Arrangement on May 10, 2007 involving the Corporation, Allied Nevada Gold Corp. and Carl and Janet Pescio, which resulted in, among other things, the transfer of the Corporation's Nevada properties and cash to Allied Nevada and the acquisition by Allied Nevada of the Nevada mineral assets of Carl and Janet Pescio. As a result of the completion of the Arrangement, the losses associated with the Corporation's Nevada properties are now reflected as losses from discontinued operations. These losses amounted to US$0.4 million and US$2.1 million for the respective periods. The financial effects of the Arrangement are also reflected in the changes of working capital and total assets, as discussed below. The second contributing factor, resulting in a loss from discontinued operations of US$5.9 million in 2007, was the determination that, as of December 31, 2007, the Amayapampa project was held for sale. Upon making this determination, the Corporation assessed the fair market value of the Amayapampa project using risk adjusted economic models incorporating the terms of an arm's-length proposal to purchase the project currently under consideration by the Corporation. The economic models employed indicated a fair market value for the Amayapampa project of US$4.8 million as compared to the carrying value of US$10.3 million which necessitated a write-down of US$5.5 million. The Amayapampa project incurred losses of US$0.4 million during 2007 which have been included in losses from discontinued operations.

The Corporation received net cash from financing activities of US$4.3 million in 2007 compared to US$54.3 million in 2006. The US$4.3 million in 2007 consisted primarily of net proceeds of US$3.6 million from exercise of warrants and US$0.7 million from the exercise of options.

Net cash used in investing activities in 2007 was US$31.3 million compared to US$3.7 million in 2006. The increase of US$27.6 million mostly reflects US$24.5 million cash transferred to Allied Nevada in connection with the Arrangement Agreement representing Vista's payment of US$25 million less US$0.5 million in loans repaid to Vista by Allied Nevada pursuant to the terms of the Arrangement Agreement. Other variances include an increase in additions to mineral properties of US$4.2 million which is mostly due to a drilling program the Corporation undertook at the Mt. Todd project during 2007 and a decrease in expenditures related to acquisitions of gold properties of US$1.3 million since the Corporation had no property acquisitions in 2007.

At December 31, 2007, the Corporation's total assets were US$51.3 million compared to US$92.7 million at December 31, 2006, representing a decrease of US$41.4 million. Of this decrease, US$9.9 million was attributed to the mineral properties transferred to Allied Nevada; and US$5.4 million was attributed to the restricted account balance transferred to Allied Nevada; the remaining decrease was primarily made up of the reduction in working capital mostly reflecting payment made to Allied Nevada in connection with the Arrangement.

Vista's financial position included current assets at December 31, 2007 of US$27.9 million compared to US$50.4 million at December 31, 2006. Long-term liabilities totaled US$30,000 at December 31, 2007 compared to US$4.9 million at December 31, 2006. At December 31, 2007, the Corporation had working capital of US$27.3 million, compared to US$49.7 million in 2006. Vista's working capital of US$27.3 million as of December 31, 2007, decreased from that at December 31, 2006 by US$22.4 million. The principal component of working capital for both 2007 and 2006 is cash and cash equivalents of US$16.6 million and US$48.7 million, respectively. Other components include marketable securities (2007-US$10.9 million; 2006-US$0.8 million), accounts receivable (2007-US$0.1 million; 2006-US$0.6 million) and other liquid assets (2007-US$0.3 million; 2006-US$0.3 million). The decrease of US$22.4 million in working capital from 2007 to 2006 relates to the payment to Allied Nevada of US$25.0 million less the receivable of US$0.5 million pursuant to the Arrangement Agreement. At December 31, 2007, Vista held marketable securities available for sale with a quoted market value of US$10.9 million. Included in these marketable securities were 1,529,848 shares of Allied Nevada at a quoted market value of US$9.5 million. The Corporation continues to hold these shares of Allied Nevada, which Vista retained as part of the closing of the Arrangement to facilitate payment of any taxes payable by the Corporation as a result of the Arrangement. At December 31, 2007, Vista held no debt with banks or institutions.

Subsequent to year-end, Vista completed a private placement in which it issued US$30 million in aggregate principal amount of senior secured convertible notes.

  Selected Financial Data
                                              Years ended December 31,
  U.S. $ 000's, except loss per share         2007                2006
  Results of operations
  Net loss                                 $(14,201)            $(4,171)
  Basic and diluted loss per share           $(0.44)             $(0.16)

  Net cash used in operations               $(4,285)            $(1,508)
  Net cash used in investing activities     (31,349)             (3,682)
  Net cash provided by financing activities   4,324              54,279

  Financial position
  Current assets                            $27,948             $50,420
  Total assets                               51,346              92,731
  Current liabilities                           664                 727
  Total liabilities                             694               5,604
  Shareholders' equity                       50,652              87,127

  Working capital                           $27,284             $49,693

Mike Richings, Executive Chairman and CEO, commented on the 2007 financials: "In comparing this year's financial results with those for previous years, shareholders should consider two important events which occurred during the year that impacted our financial results, but which we believe have long-term positive implications for our shareholders. First, there was the completion of the Arrangement that resulted in the formation of Allied Nevada, a new Nevada pure gold company, which was done largely with contributions of Vista's Nevada mineral properties and cash, and resulted in the distribution to our shareholders of approximately 0.794 Allied Nevada share for each share of the Corporation shares held. Second, our decision made during the year to advance our key projects to the point where production decisions can be made has resulted in increased expenditures. As a result, we have significantly increased our estimate of measured and indicated resources at Mt. Todd (see press release of February 27, 2008), and we added a number of new members to our management team and purchased key items of mill equipment in furtherance of our goal to place the Paredones Amarillos project into production by the end of 2009. Also, as part of this decision to advance our key projects to production decisions, we decided we would like to sell or joint venture the Amayapampa project in Bolivia and negotiations to do this are proceeding. As previously announced, we are seeking a partner or buyer for the Amayapampa project with the financial and personnel resources to manage and develop the project and commence commercial gold production in the shortest time possible. We feel that it is not appropriate for management to be distracted by developing what is expected to be a smaller project in Bolivia when we have larger projects located in very favorable regions. When we estimated the Amayapampa project value, and incorporated appropriate risks, we felt it was appropriate to reduce the carrying value; however, if the project is successfully developed at current or higher gold prices, we anticipate retaining an interest in the project that will enable us to receive acceptable returns. I believe we are now well positioned to become a mid-tier producer over the next few years and, we expect to generate attractive returns for our shareholders."

The annual general meeting of Vista's shareholders has been scheduled for Monday, May 5, 2008, at 10:00 a.m., Vancouver time, at the offices of Borden Ladner Gervais LLP, located at Suite 1200, 200 Burrard Street, Vancouver, British Columbia, Canada.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista has recently completed a preliminary feasibility study on the Paredones Amarillos project in Mexico that indicated positive results at gold prices lower than those now prevailing. Vista plans to confirm these results with definitive feasibility studies in 2008. Vista is undertaking programs to advance the Paredones Amarillos project, including the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes project in Mexico, Yellow Pine project in Idaho, Awak Mas project in Indonesia, Long Valley project in California, and Amayapampa project in Bolivia.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 financial and operating results and estimates; potential funding requirements and sources of capital; the performance and results of feasibility studies including the ongoing bankable feasibility study for the Paredones Amarillos Project; and timing for starting and completion of drilling and testing programs at the Paredones Amarillos Project; anticipated timing of commencement of construction and commencement of production at the Paredones Amarillos Project; results of drilling programs and prospects for exploration and conversion of resources at the Mt. Todd Project and plans for a feasibility study at the Mt. Todd Project; plans for disposition of the Amayapampa Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; Vista's potential status as a producer including plans, timing and targeted initial production levels; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays and incurrence of additional costs in connection with the feasibility study underway at our Paredones Amarillos Project, uncertainty of feasibility study results and preliminary assessments and of estimates on which such results are based; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of significant cost increases; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista" or the "Corporation") (Amex: VGZ; TSX: VGZ.) announced today the closing of a brokered private placement of senior secured convertible notes (the "Notes") of the Corporation. Gross proceeds to the Corporation were US$30 million. For a description of the Notes, we refer you to our press release dated February 12, 2008.

As compensation to the agent (the "Agent") in respect of the offering of the Notes, the Corporation has paid to the Agent a cash fee of US$1.2 million, being 4% of the gross proceeds of the offering, and has issued to the Agent 200,000 common share purchase warrants, being 4% of number of common shares issuable upon the conversion of the Notes sold in the offering, assuming a conversion price of US$6.00. Each such Agent's warrant will be exercisable for one common share for US$6.00 per share until three years following the date of issuance.

The Corporation will use the net proceeds of the offering of the Notes to finance the previously announced purchase of gold processing equipment to be used at the Paredones Amarillos gold project and to fund ongoing operations at the Paredones Amarillos gold project.

The above-described securities have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans for financing the Paredones Amarillos Project including the nature and timing of financing; plans for construction and development activities at the Paredones Amarillos Project; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "will", "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista" or the "Corporation") (Amex: VGZ; TSX) announced today that it expects to close its previously announced brokered private placement of up to US$32 million in aggregate principal amount of senior secured convertible notes (the "Notes") of the Corporation. For a description of the Notes, the Corporation refers you to its press release dated February 12, 2008.

The Corporation will use the net proceeds of the offering of the Notes to finance the previously announced purchase of gold processing equipment to be used at the Paredones Amarillos gold project and to fund ongoing operations at the Paredones Amarillos gold project.

The above-described securities have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans for financing the Paredones Amarillos Project including the nature and timing of financing; plans for construction and development activities at the Paredones Amarillos Project; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "will", "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (Amex: VGZ; TSX: VGZ) is pleased to announce that an updated gold resource estimate for the Batman deposit at the Mt. Todd Gold Project in Northern Territory, Australia was completed on February 26, 2008, by Tetra Tech of Golden, Colorado, in accordance with Canadian National Instrument 43-101 standards. This updated gold resource estimate was completed under the direction of Mr. John Rozelle, P.G., an independent Qualified Person, utilizing standard industry software and resource estimation methodology. The previous resource estimate was originally reported by Vista in a press release dated June 26, 2006. The updated resource estimate incorporates the results of 9,460 assay intervals from 25 drill holes (all core holes) drilled by Vista in 2007 with assaying completed by Northern Australia Labs in Pine Creek and ALS-Chemex in Perth. These results are in addition to the results of 91,225 assay intervals from 730 drill holes (225 core, 435 reverse circulation and 70 rotary drill holes) done by BHP Resources Pty Ltd., Zapopan NL and Pegasus Gold Australia Pty Ltd. used in the previous Mt. Todd resource estimate. Vista has also completed a preliminary evaluation of the development of the project, the results of which were announced in January 2007. For more information on both studies please refer to the Corporation's June 26, 2006 and January 4, 2007 press releases or the Company's website (http://www.vistagold.com/) for complete studies. A technical report for the updated resource estimate will be filed on SEDAR on or about March 14, 2008.

The new resource estimate as presented in the following table represents an increase in Measured Resources(1) of 769,633 ounces of gold and an increase in Indicated Resources(1) of 367,686 ounces of gold resulting in a combined increase in Measured and Indicated Resources(1) of 1,137,319 ounces of gold at a cutoff grade of 0.50 grams of gold per tonne (0.015 ounces of gold per ton). The gold resource estimate for the Batman deposit as of February 26, 2008, reported at a cutoff grade of 0.015 ounces of gold per ton is set out below. The estimate was prepared using GEMCOM software and used whole block kriging to estimate block values.

                                                                   Contained
                  Metric                                Average      Gold
  Resource        Tonnes   Average Grade   Short Tons    Grade      Ounces
  Classification  (x1000)  (grams/tonne)    (x1000)   (ounces/ton)  (x1000)

  Measured(1)      43,543       0.96        47,987       0.028       1,346
  Indicated(1)     45,746       1.05        50,425       0.031       1,549
  Measured &
   Indicated(1)    89,280       1.01        98,413       0.029       2,895
  Inferred(2)      58,816       0.81        64,832       0.024       1,532


  1)  Cautionary Note to U.S. Investors concerning estimates of Measured and
      Indicated Resources: This table uses the terms "measured resources"
      and "indicated resources". We advise U.S. investors that while these
      terms are recognized and required by Canadian regulations, the U.S.
      Securities and Exchange Commission does not recognize them. U.S.
      investors are cautioned not to assume that any part or all of mineral
      deposits in these categories will ever be converted into reserves.
  2)  Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This table uses the term "inferred resources". We advise
      U.S. investors that while this term is recognized and required by
      Canadian regulations, the U.S. Securities and Exchange Commission does
      not recognize it. "Inferred resources" have a great amount of
      uncertainty as to their existence, and great uncertainty as to their
      economic and legal feasibility. It cannot be assumed that all or any
      part of an inferred mineral resource will ever be upgraded to a higher
      category. Under Canadian rules, estimates of inferred mineral
      resources may not form the basis of a feasibility study or
      prefeasibility studies, except in rare cases. U.S. investors are
      cautioned not to assume that any part or all of an inferred resource
      exists or is economically or legally minable.

Fred Earnest, President and COO of Vista Gold Corp., stated, "The updated resource estimate reflects the success of the 2007 drilling program and the results of a detailed blasthole data study, both of which exceeded our initial expectations. The combined program was successful in three key areas: the conversion of inferred resources to measured or indicated resources, the discovery of new resources at depth and along strike, and improved variography resulting from the analysis of over 158,000 assay intervals in the blasthole database. The drill assay results indicated better gold grades at depth and this is reflected in the new resource model. We plan to undertake a new drilling program in 2008 with the goals of increasing the estimated measured and indicated gold resources and testing the lower areas of the Batman deposit for higher grade mineralization. We intend to complete a preliminary feasibility study later this year which will evaluate significant technical and economic issues and determine what portion of the measured and indicated resources in the Batman deposit could be classified as ore reserves. In the coming months we expect to be able to report the results of other technical studies currently underway. Tetra Tech is estimating the copper resources in the Batman deposit and Resource Development Inc. is completing metallurgical studies to evaluate among other things, the recovery of both copper and gold in a marketable concentrate from the mineralized resources and the effectiveness of high pressure crushing rolls to process the hard mineralized material."

About Mt. Todd

The Mt. Todd Project is situated within the southeastern portion of the Early Proterozoic Pine Creek Geosyncline. The Batman deposit geology consists of a sequence of hornfelsed interbedded greywackes and shales with minor thin beds of felsic tuff. Bedding consistently strikes at 325 degrees, dipping 40 to 60 degrees to the southwest. Northerly trending sheeted quartz sulfide veins and joints striking at 0 to 20 degrees and dipping 60 degrees to the east are the major location for mineralization in the Batman deposit. The veins are 0.04 to 4 inches in thickness with an average thickness of around 0.4 inches and occur in sheets with up to 6 veins per horizontal foot. In general, the Batman deposit is 4,800 to 5,100 feet in length by 1,200 to 1,500 feet in true width and 1,500 to 1,800 feet in known down-dip extension (the deposit is open along strike and at depth).

The deposit has a drill hole spacing that varies from 80 feet by 80 feet to 260-330 feet by 260-330 feet and generally averages 160 feet by 160 feet. All assaying was by fire assay on 50-gram charges with atomic absorption ("AA") finish. It is the opinion of Tetra Tech that quality control and quality assurance methods employed by the various companies working at Mt. Todd were standard at the time of the work. According to Tetra Tech, quality control and quality assurance methods for previous drilling programs has been audited several times by independent consultants.

The 2007 drilling program consisted of 25 core holes resulting in a total of 9,460 assay intervals. As the Qualified Person, Mr. Rozelle reviewed the quality control and quality assurance methods implemented by Vista. Core was logged and cut under the direction of Vista's geologists and half-core segments were sent to independent labs in Pine Creek (Northern Australia Labs) and Perth (ALS-Chemex) for sample preparation and fire assay analysis/AA analysis. Both labs prepared and analyzed a statistically significant number of duplicate samples. In addition to submitting commercially acquired blanks and standards, Vista submitted pulps for re-analysis to the opposing lab. Mr. John Rozelle, P.G., an independent Qualified Person, has reviewed and verified the technical and scientific information contained in this press release.

Vista holds a large exploration land package to the North and East of the Batman deposit and will be undertaking preliminary exploration activities on the prospective land package in 2008. Several localized soil sampling programs were completed prior to the start of the wet season in 2007. Plans are being made for the start of more extensive field mapping and sampling programs with the expectation that conditions in the field will allow the programs to resume in April or May.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and Amayapampa Project in Bolivia.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 plans for evaluation of the Mt. Todd Project including preliminary assessment results and timing and anticipated results for drilling, field mapping and sampling programs to be undertaken at the Mt. Todd Project; potential for increasing estimated resources at the Mt. Todd Project and potential for higher grade mineralization at the Mt. Todd Project; estimates of ore reserves at the Batman deposit; estimates of copper resources at the Batman deposit and results of metallurgical studies in connection with recovery of copper and gold in a marketable concentrate, and effectiveness of high pressure crushing rolls to process hard mineralized material; anticipated timing and results for preliminary and definitive feasibility studies to be undertaken at the Mt. Todd Project; anticipated timing and results for a definitive feasibility study being undertaken at the Paredones Amarillos Project; anticipated timing for construction and development activities at the Paredones Amarillos Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; Vista's potential status as a producer including plans, timing and targeted initial production levels; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" 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 preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to scheduling for feasibility studies; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project and the Mt. Todd Project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining- related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

The forward-looking statements in this press release are based, in part, upon certain assumptions made by Vista and its consultants including, but not limited to no material delay in the current timing for completion of the preliminary and definitive feasibility studies; no material delays in the securing of environmental permits; adequacy and availability of labor, water, and power; no material delays in the acquisition of surface rights; no material delays in the start and completion of construction; and no material changes in prices of labor, materials and supplies other than normal inflation.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista" or the "Corporation") (Amex: VGZ; TSX: VGZ) is undertaking a definitive feasibility study for its Paredones Amarillos Project, as previously reported, that will examine potential development scenarios in the range of 130,000 - 150,000 ounces of gold production per year from the gold resources at the project. Vista intends to publish regular updates on technical and economic changes and progress during the development of the Paredones Amarillos Project. As part of the feasibility study, the Corporation's consultants have been considering alternative processing flow sheets. Preliminary studies by Vista proposed the use of flotation and leaching of the flotation concentrate, while earlier extensive evaluation and design work had been completed by Echo Bay Mines on whole-ore leach using carbon-in-pulp gold recovery. The Corporation intends to focus its development efforts now on the whole-ore leach process, because of the estimated lower capital and operating costs, potentially higher gold recovery, better equipment compatibility with the used mill equipment Vista is purchasing and the fact that Echo Bay Mines had completed essentially all permitting associated with this process alternative. Vista's managing technical consultant for the definitive feasibility study, SRK Consulting (US), Inc. of Lakewood, Colorado, has updated operating and capital cost estimates based on preliminary estimates prepared by the consultants retained to complete the definitive feasibility study. The updated estimates incorporate actual prices for a substantial portion of the mill equipment and budget prices for mine equipment. The cost estimates are based in part on information found in the report filed under Vista Gold Corp. on SEDAR: "Updated Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico", dated June 20, 2007, prepared under the direction of Mr. Neil Prenn, an independent qualified person.

The cost estimates assume an open pit mine and whole-ore leach processing with estimated metallurgical recovery of 91.5% to produce an average annual gold production of 117,000 ounces of gold per year over its 12.4-year life. The preproduction capital and preproduction development costs for the project using the whole-ore leach process are estimated to be approximately US$169.1 million and the operating costs are estimated to be approximately US$12.53 per tonne of ore processed, which represents an increase in the amounts previously disclosed in the Corporation's press release dated June 21, 2007. Work on the project is still ongoing and as a result, the estimated preproduction and estimated operating costs may change as further work is conducted.

Fred Earnest, President and COO, commented, "The updated capital and operating cost estimates reported today reflect the results of significant work completed by the consultants retained to complete the definitive feasibility study for the Paredones Amarillos Project. While that study is not expected to be completed until the beginning of the third quarter of this year, we are satisfied that these estimates reflect current costs of materials, supplies and labor and the work constitutes a comprehensive analysis of the estimated project costs. The analysis incorporates actual costs for the mill equipment the Corporation has purchased and budgetary costs for the mining fleet. With these cost estimates completed, considerable work is in progress to optimize the mine plans, production rates and to achieve improvements in other areas."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and Amayapampa Project in Bolivia.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 contemplated development scenarios for the Paredones Amarillos Project; progress, scheduling and results of the ongoing definitive feasibility study at the Paredones Amarillos Project; operating cost estimates; gold recovery estimates; compatibility of purchased equipment to be used at the Paredones Amarillos Project with anticipated processing methods for the Project; status of permits for the Project, production estimates, mine life; cost estimates including equipment costs and estimates of preproduction costs, operating costs and cash costs; potential advantages of a whole-ore leach processing method for the Project; potential optimization of mine plans, production rates and other improvements; anticipated timing for construction and development activities at the Paredones Amarillos Project; plans for evaluation of the Mt. Todd Project including preliminary assessment results and timing and results for a definitive feasibility study to be undertaken at the Mt. Todd Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; Vista's potential status as a producer including plans, timing and targeted initial production levels; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" 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 preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to scheduling for feasibility studies; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project and the Mt. Todd Project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

The forward-looking statements in this press release are based, in part, upon certain assumptions made by Vista and its consultants including, but not limited to no material variation in the forecasted production rates; no material delay in the current timing for completion of the definitive feasibility study; no material delays in the securing of environmental permits; adequacy and availability of labor, water, and power; no material delays in the acquisition of surface rights; no material delays in the start and completion of construction; and no material changes in prices of labor, materials and supplies other than normal inflation.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. ("Vista" or the "Corporation") (Amex: VGZ; TSX: VGZ) announces that the Corporation intends to offer up to US$32 million in aggregate principal amount of senior secured convertible notes (the "Notes") pursuant to a brokered private placement, subject to certain conditions, including approval of the American Stock Exchange ("AMEX") and the Toronto Stock Exchange. The Notes will be convertible into common shares of the Corporation at any time at the option of the holder at a conversion price of US$6.00 per share, subject to adjustment in certain circumstances, including if the Corporation's common shares are trading on the AMEX at less than US$5.00 on the first anniversary of the date of issuance of the Notes, or if the Corporation issues common shares, or securities convertible into common shares, at a price of less than US$6.00 during the term of the Notes, subject to a minimum conversion price of US$4.80.

The Notes will bear interest from the date of issuance at a rate of 10% per annum (calculated and payable semi-annually in arrears) and will mature 3 years from the date of issuance (or on the earlier occurrence of an event of default). The Corporation's obligations under the Notes will be guaranteed by the Corporation's Mexican operating subsidiary, Minera Paredones Amarillos S.A. de C.V., and the guarantee will be secured by the personal property and real property associated with the Paredones Amarillos gold project.

The Corporation can prepay the outstanding principal and accrued interest at any time after 1 year from the date the Notes are issued, upon payment of one year's additional interest.

The Corporation will use the net proceeds of the offering of the Notes to finance the previously announced purchase of gold processing equipment to be used at the Paredones Amarillos gold project and to fund ongoing operations at the Paredones Amarillos gold project.

The Corporation has agreed to pay to the agent (the "Agent") in respect of the offering of the Notes an agent's fee equal to 4% of the gross proceeds of the offering and to issue the number of common share purchase warrants equal to 4% of number of common shares issuable upon the conversion of the Notes sold in the offering, assuming a conversion price of US$6.00. If the offering was fully sold, the Corporation would issue 213,333 warrants to the Agent. Each such warrant will be exercisable for one common share for US$6.00 per share until three years following the date of issuance.

The above-described securities have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans to conduct the private placement offering as described in this press release; plans for financing the Paredones Amarillos Project including the nature and timing of financing; plans for construction and development activities at the Paredones Amarillos Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; Vista's potential status as a producer including plans, timing and targeted initial production levels; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce that recent exercises of outstanding warrants issued as part of the Corporation's private placement of February 2006, which expired February 4, 2008, have resulted in the addition of approximately US$2.9 million in cash into the Corporation's treasury. This addition brings the Corporation's cash on hand to approximately US$11.0 million. The Corporation also holds securities valued at approximately US$10.9 million as of December 31, 2007. With the share issuances from these warrant exercises, there will be approximately 34.4 million common shares of the Corporation issued and outstanding and approximately 36.3 million common shares on a fully diluted basis.

In reviewing this and other developments, Fred Earnest, President and COO, commented, "This recent influx of cash will help us maintain a strong balance sheet while we arrange financing to advance the Paredones Amarillos Project. We anticipate the arrangement of interim financing through various bridge loan or convertible debt alternatives in the near future to fund the recent purchase of processing equipment for the Paredones Amarillos Project (see press releases of January 2 and January 8, 2008) and detailed engineering and other costs associated with the development of the project. Upon completion of the definitive feasibility study, we intend to have financing in place that will allow the start of construction on the project. We expect that the feasibility study at Paredones Amarillos will be completed early in the third quarter of 2008 and that construction can begin later in the year."

Mr. Earnest continued, "Vista was successful in acquiring gold resources during the 2002-2007 period, which included sustained times of depressed gold prices and completion of the transaction involving the transfer of Vista's Nevada assets to Allied Nevada Gold Corp., growing Vista's gold resource base from 1.8 million ounces to 18.1 million ounces at an average acquisition cost of US$0.62 per ounce of gold acquired. With gold prices continuing to rise, Vista is working to become a mid-size producer, with the goal of producing 350,000 to 400,000 ounces of gold per year by 2011. This level of production is predicated upon the successful achievement of our plans to construct and commission the Paredones Amarillos mine by late 2009 and the Mt. Todd mine by late 2010 or early 2011, subject to completion of definitive feasibility studies and obtaining acceptable financing arrangements."

About Vista Gold Corp.

In June 2007, Vista completed a preliminary feasibility study update on the Paredones Amarillos Project in Mexico that indicated positive results which show it could produce 1.4 million gold ounces over a ten-year life at gold prices lower than those now prevailing. The Corporation hopes to confirm these results with a definitive feasibility study in 2008. Based on the favorable results from the preliminary feasibility study and the higher gold prices, Vista has undertaken programs to advance development of the Paredones Amarillos Project, including the purchase of used mill equipment, with the objective of commencing construction during the second half of 2008.

The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging, showing that 266,000 gold ounces and 4.3 million pounds of copper (with a US$32 per gold ounce copper credit at copper prices of US$2.00 per pound) could be produced annually over a ten-year life for a total gold production of nearly 2.7 million ounces and nearly 43 million pounds of copper at an average operating cost of US$391 per gold ounce net of copper credits. A development drilling program was completed in 2007 which will result in a new resource estimate planned to be completed during the first quarter of 2008. Additional technical studies and a drilling program are planned for 2008 at Mt. Todd and a definitive feasibility study is planned for completion during the first half 2009 with construction then possible as soon as financing is arranged if the results of the definitive feasibility study warrant. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, where Vista recently completed the consolidation of the known gold resources in the district under its ownership. During the remainder of the year, the Corporation will undertake preliminary exploration and development activities at Guadalupe de los Reyes. Vista also controls the Yellow Pine Project in Idaho where the results of a preliminary assessment published in December 2006 indicated that with an initial capital investment of approximately US$150 million to process three million tons of ore per year at operating costs of US$402 per ounce and annual production of 189,000 ounces of gold, results are encouraging at gold prices above US$550 per ounce. During 2008, the Corporation plans to undertake further engineering and environmental studies at Yellow Pine. Currently, development of the Yellow Pine Project is not expected to commence until after the successful start of the Paredones Amarillos Project. The Awak Mas Project in Indonesia and the Long Valley Project in California have had preliminary assessments completed recently. Vista is considering various options including potential joint venture arrangements or sale of the Amayapampa Project in Bolivia.

For further information on the Paredones Amarillos Project, the Mt. Todd Project and the Yellow Pine Project, see the following reports filed under Vista Gold Corp. on SEDAR: "Updated Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico", June 20, 2007, prepared under the direction of Mr. Neil Prenn, an independent qualified person; "Preliminary Economic Assessment, Mt. Todd Gold Project, Northern Territory Australia", December 29, 2006, prepared under the direction of Mr. John Rozelle, an independent qualified person; and "CNI 43-101 Technical Report, Preliminary Assessment of the Yellow Pine Project, Yellow Pine, Idaho", December 13, 2006, prepared under the direction of Mr. Richard J. Lambert, an independent qualified person.

The preliminary assessments of the Mt. Todd Project and the Yellow Pine Project are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary assessments will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 preliminary feasibility study results for the Paredones Amarillos Project; plans for financing the Paredones Amarillos Project including the nature and timing of financing; plans for a definitive feasibility study and for subsequent construction and development activities at the Paredones Amarillos Project; plans for evaluation of the Mt. Todd Project including preliminary assessment results, plans, initial estimates of production and mine life; timing and results for a definitive feasibility study to be undertaken at the Mt. Todd Project; timing for drilling program and new resource estimate at the Mt. Todd Project; and anticipated financing of Mt. Todd Project; planned exploration and development activities at the Guadalupe de los Reyes Project; preliminary assessment results for the Yellow Pine Project including initial estimates of capital and operating costs, and timing for further studies to be undertaken at the Yellow Pine Project; potential development of the Yellow Pine Project; Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation; future gold prices; Vista's potential status as a producer including plans, timing and targeted initial production levels; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" 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 preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to scheduling for feasibility studies; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project and the Mt. Todd Project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce that it has completed the acquisition of interests in various mineral properties adjacent to Vista's Guadalupe de los Reyes Project in Sinaloa, Mexico, as previously announced on December 19, 2007. This acquisition has the effect of consolidating Vista's land position in this area. The consideration paid by Vista for the acquisition of these interests included cash payments totaling US$451,821 and the issuance of a total of 213,503 common shares of Vista, to various parties. Additional information regarding this transaction and the properties acquired by Vista is set out in Vista's December 19, 2007 press release.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista has recently completed a preliminary feasibility study on the Paredones Amarillos Project in Mexico that indicated positive results at gold prices lower than those now prevailing. Vista plans to confirm these results with definitive feasibility studies in 2008. Vista is undertaking programs to advance the Paredones Amarillos Project, including the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and Amayapampa Project in Bolivia.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 previously announced matters concerning the Guadalupe de los Reyes property including estimates of gold and silver mineralization at the property, potential for economic gold and silver grades and potential to add to gold and silver resource estimates at the property, potential for open-pit mining at certain targets in the property, Vista's plans for exploration of the property, exploration and development opportunities at the property, potential extensions of known mineralization and identification of targets for new mineralization at the property, potential for development of an operating mine at the property, plans for feasibility studies, preliminary feasibility study results for the Paredones Amarillos Project, and plans for a definitive feasibility study and for construction and development activities at the Paredones Amarillos Project, plans for evaluation of the Mt. Todd Project including preliminary assessment results and plans, timing and results for a definitive feasibility study to be undertaken at the Mt. Todd Project, Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, Vista's potential status as a producer, and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" 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 preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to scheduling for feasibility studies; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (Amex: VGZ; TSX) announces the results from a preliminary assessment for the Awak Mas Project in Sulawesi, Indonesia, that was completed on January 16, 2008, by Gustavson Associates, LLC ("Gustavson") of Boulder, Colorado, under the direction of Mr. John Rozelle, an independent Qualified Person as defined in Canadian National Instrument 43-101. Vista will file this preliminary assessment entitled "Preliminary Assessment, Awak Mas Gold Project, Sulawesi, Indonesia" on SEDAR.

Gustavson had estimated mineral resources in a report entitled "Report NI 43-101 Technical Report on the Awak Mas Gold Project, Sulawesi, Indonesia" dated June 6, 2007, the results of which were previously reported by Vista in a press release dated June 6, 2007. Based on the June 2007 report, the gold resources for the Awak Mas deposit, reported at a cutoff grade of 0.5 grams of gold per tonne are:

                            Tonnes            Grade           Contained Gold
                            (000s)        (grams per tonne)        Ounces
  Measured resources 1)      7,084            1.30                296,000
  Indicated resources 1)    34,609            1.22              1,360,000
  Measured and
   indicated resources 1)   41,693            1.24              1,656,000


  1)  Cautionary Note to U.S. Investors concerning estimates of Measured and
      Indicated Resources: This table uses the terms "measured resources"
      and "indicated resources". We advise U.S. investors that while these
      terms are recognized and required by Canadian regulations, the U.S.
      Securities and Exchange Commission does not recognize them. U.S.
      investors are cautioned not to assume that any part or all of mineral
      deposits in these categories will ever be converted into reserves.



                            Tonnes             Grade          Contained Gold
                            (000s)        (grams per tonne)        Ounces
  Inferred resources 2)     20,425              0.82               39,000


  2)  Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This table uses the term "inferred resources". We advise
      U.S. investors that while this term is recognized and required by
      Canadian regulations, the U.S. Securities and Exchange Commission does
      not recognize it. "Inferred resources" have a great amount of
      uncertainty as to their existence, and great uncertainty as to their
      economic and legal feasibility. It cannot be assumed that all or any
      part of an inferred mineral resource will ever be upgraded to a higher
      category. Under Canadian rules, estimates of inferred mineral
      resources may not form the basis of a feasibility study or
      prefeasibility studies, except in rare cases. U.S. investors are
      cautioned not to assume that any part or all of an inferred resource
      exists or is economically or legally mineable.

In undertaking the preliminary assessment, Gustavson considered the economic and technical parameters associated with development of the mineral resources by open-pit mining. The study included a process flowsheet based on three stages of laboratory and pilot plant test programs from 1994 to 1997. The flowsheet was developed by Minproc Engineers Ltd. in 1997, and reviewed and approved by Resource Development Inc. of Wheat Ridge, Colorado, for this study. The flowsheet includes a flotation circuit to recover gold associated with sulfide minerals, following which the concentrate would be treated in a carbon-in-leach circuit to recover the gold. The benign tailings from the flotation circuit would flow by gravity into a tailings impoundment and the sulfide tailings would be detoxified, filtered and trucked to a small "dry-stack" sulfide tailings storage facility. MWH Americas Inc. of Denver and Steamboat Springs, Colorado, prepared the tailings disposal sites layout and closure plans, and assessed permitting requirements.

Using a gold cutoff grade of 0.6 g/t, the estimated potentially mineable resources are as shown in the following table.

                       PRELIMINARY ASSESSMENT STUDY
 Estimated Potentially Mineable Resources above a 0.6 g/t Au cutoff grade
                               January 2008

  Class            Mineral  Gold Grade  Contained  Total   Total   Stripping
                   Tonnes     (g/t)       Gold     Waste   Tonnes    Ratio
                  (x 1000)                (oz)     Tonnes (x 1000)   (W:O)
                                                  (x 1000)
  Measured
   resources (1)   4,909      1.40      220,959                        NA
  Indicated
   resources (1)  16,279      1.37      717,033                        NA
  Inferred
   resources (2)   2,595      0.91       75,922                        NA
                                                  104,868  128,651    4.41

  (1) Cautionary Note to U.S. Investors concerning estimates of Measured and
      Indicated Resources: This table uses the terms "measured resources"
      and "indicated resources". We advise U.S. investors that while these
      terms are recognized and required by Canadian regulations, the U.S.
      Securities and Exchange Commission does not recognize them. U.S.
      investors are cautioned not to assume that any part or all of mineral
      deposits in these categories will ever be converted into reserves.
  (2) Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This table uses the term "inferred resources". We advise
      U.S. investors that while this term is recognized and required by
      Canadian regulations, the U.S. Securities and Exchange Commission does
      not recognize it. "Inferred resources" have a great amount of
      uncertainty as to their existence, and great uncertainty as to their
      economic and legal feasibility. It cannot be assumed that all or any
      part of an inferred mineral resource will ever be upgraded to a higher
      category. Under Canadian rules, estimates of inferred mineral
      resources may not form the basis of a feasibility study or
      prefeasibility studies, except in rare cases. U.S. investors are
      cautioned not to assume that any part or all of an inferred resource
      exists or is economically or legally mineable.

In the preliminary assessment, Gustavson considered four different production scenarios, three cases at a production rate of 2.0 million tonnes of ore per year and one case at 3.5 million tonnes of ore per year. All four cases assumed contract mining and a base case gold price of US$625 per ounce. Estimates of projected total gold production ranged from 600,900 ounces to 1,040,000 ounces, with estimated project lives ranging from 7 to 15 years depending on production rate and the ultimate pit shape considered for the scenario. Overall gold recovery is estimated at 90.5%.

Startup capital estimates ranged from US$123.4 million for one of the 2.0 million tonne per year cases to US$177.5 million for the 3.5 million tonne per year case. Total project capital ranged from US$148.3 million to US$217.7 million. Mining costs are estimated at US$1.60 per tonne of material mined, processing costs are estimated at US$10.04 per tonne of ore processed for the 2.0 million tonne per year cases and US$9.67 per tonne of ore processed for the 3.5 million tonne per year case. General and administrative costs are estimated at US$1.9 million per year for all cases.

Gustavson prepared cash flow economic analyses and sensitivity studies for gold prices of US$600, US$625, US$700, US$800, US$900 and US$1,000 per ounce, as well as sensitivities for operating and capital costs. Sensitivities were run to show the positive effect on the project if a lower cost source of electric power can be obtained and/or if infrastructure costs can be lowered.

The following tables summarize the results of the four scenarios. Initial capital and total capital costs include working capital.

            VISTA GOLD CORP. - AWAK MAS PRELIMINARY ASSESSMENT
        Economic Evaluation Summary of the Four Cases (Before Tax)
           Base Case Power: US$0.21/kwh; Access Road: US$10.2 M
                        Based on US$625 Gold Price

    Case     Initial   Total   Breakeven   NPV     Gold      Cash Op   Mine
  (Mtpy/MT) Investment Capital  Gold       @ 5%  Production   Costs    Life
             (US$M)    (US$M)   Price     (US$M)  (Koz)     (US$/oz) (Years)
                               (US$/oz)


  1 (2.0/24)   123.9   158.4      679     (66.7)    904.8      523       12
  2 (3.5/30)   177.5   217.7      693     (87.3)  1,040.0      521        9
  3 (2.0/14)   123.4   148.3      637     (25.3)    600.9      421        7
  4 (2.0/30)   123.9   165.4      688     (81.7)  1,040.0      545       15

The following table summarizes the impact on the project if lower power costs can be obtained and if the cost of improving the access road can be reduced.

            VISTA GOLD CORP. - AWAK MAS PRELIMINARY ASSESSMENT
       Economic Sensitivity Analysis of the Four Cases (Before Tax)
                        Based on NPV @ 5 % (US$M)


     Case    US$600/oz  US$625/oz  US$700/oz US$800/oz US$900/oz US$1,000/oz
   (Mtpy/MT)

           Base Case Power: US$0.21/kwh; Access Road: US$10.2 M
  1 (2.0/24)    (81.9)   (66.7)     (21.1)    39.8      100.6     161.5
  2 (3.5/30)    (106.0)  (87.3)     (31.4)    43.2      117.8     192.4
  3 (2.0/14)    (36.6)   (25.3)       8.5     53.5       98.5     143.5
  4 (2.0/30)    (98.2)   (81.7)     (32.3)    33.5       99.4     165.2

                 Power: US$0.12/kwh; Access Road: US$10.2 M
  1 (2.0/24)    (44.1)   (28.9)      16.7     77.5      138.4     199.2
  2 (3.5/30)    (57.0)   (38.4)      17.6     92.2      166.7     241.3
  3 (2.0/14)    (11.7)    (0.5)      33.3     78.3      123.3     168.3
  4 (2.0/30)    (53.6)   (37.1)      12.3     78.1      143.9     209.8

                  Power: US$0.12/kwh; Access Road: US$2.0 M
  1 (2.0/24)    (36.5)   (21.3)      24.3     85.2      146.0     206.9
  2 (3.5/30)    (49.3)   (30.7)      25.2     99.8      174.4     248.9
  3 (2.0/14)    (4.1)     7.1        40.9     85.9      130.9     175.9
  4 (2.0/30)    (45.9)   (29.5)      19.9     85.7      151.6     217.4

The results of the preliminary assessment shown in the economic sensitivity table above indicate that primarily as a result of high energy prices and infrastructure costs, the Awak Mas project needs sustained gold prices in excess of US$800 per ounce to justify development.

The "preliminary assessment" is preliminary in nature and includes inferred mineral resources (8% inferred gold ounces and 93% measured and indicated gold ounces) that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Fred Earnest, Vista's President and COO, commented, "The preliminary assessment has identified areas of potential improvement which we will investigate as we proceed into the feasibility study period of the Contract of Work. We are optimistic that more detailed studies could potentially enhance the apparent economics of the project. We control a large, potentially prospective land package and we believe the discovery of additional gold will also enhance the project."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista has recently completed a preliminary feasibility study on the Paredones Amarillos project in Mexico that indicated positive results at gold prices lower than those now prevailing. Vista plans to confirm these results with definitive feasibility studies in 2008. Vista is undertaking programs to advance the Paredones Amarillos project, including the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes project in Mexico, Yellow Pine project in Idaho, Awak Mas project in Indonesia, Long Valley project in California, and Amayapampa project in Bolivia.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information under 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 results of the preliminary assessment for the Awak Mas deposit including previous and recently reported resource estimates, economic and technical parameters associated with possible development of resources at the Awak Mas deposit including mining and processing methods and design of process flowsheet, compliance with permitting requirements, estimated capital costs for the Awak Mas project and estimated operating costs and components thereof, estimated mine life and estimated production over the mine life, gold price projections, estimates of net present value and other economic measures for the Awak Mas project at various gold prices, estimates of breakeven gold prices for various production scenarios, anticipated costs for power and costs for improving the access road to the project, areas for potential improvement in connection with possible development of the Awak Mas project, plans for feasibility studies, preliminary feasibility study results for the Paredones Amarillos project, and plans for a definitive feasibility study and for construction and development activities at the Paredones Amarillos project, plans for evaluation of the Mt. Todd project including preliminary assessment results and plans, timing and results for a definitive feasibility study to be undertaken at the Mt. Todd project, Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, Vista's potential status as a producer, and other such matters are forward-looking statements. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" 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 preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to scheduling for feasibility studies; risks relating to cost increases for capital and operating costs including cost of power; risks relating to delays in commencement and completion of construction at the Paredones Amarillos project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (AMEX: VGZ) (TSX: VGZ) is pleased to announce that further to the Company's January 2, 2008 press release, the Company has entered into a formal agreement with A.M. King Industries, Inc. ("A.M. King") and Del Norte Company Ltd., a wholly owned subsidiary of A.M. King, to purchase gold processing equipment to be used at Vista's Paredones Amarillos Project in Baja California Sur, Mexico. As previously announced, the aggregate purchase price is approximately US$16 million, of which approximately US$8 million was paid on signing of the purchase agreement. Vista is currently considering various bridge loan or convertible debt alternatives with proceeds to be used for the purchase of the equipment and for other expenditures relating to the development of the Paredones Amarillos Project, thus allowing the Company to use current cash for other business purposes. As reported in Vista's press release dated June 21, 2007, the total capital requirements for the project were estimated in a June 2007 pre-feasibility study to be US$110 million. This cost may change as Vista completes the definitive studies that are in progress as a result of various scope changes, including an increase in estimated gold production to the range of 130,000 to 150,000 ounces per year, the incorporation of used equipment and the impact of inflation.

Vista is also pleased to announce the results from a preliminary assessment for Vista's Long Valley Project, Mono County, California, by Mine Development Associates, ("MDA") of Reno, Nevada, in accordance with Canadian National Instrument 43-101 standards under the direction of Mr. Neil Prenn, an independent Qualified Person. This preliminary assessment entitled "Technical Report, Preliminary Economic Assessment, Long Valley Project, Mono County, California" is expected to be filed on SEDAR by Vista on or about January 9, 2008.

In 2003, MDA issued mineral resources estimates for the Long Valley Project in a report entitled "Technical Report, Long Valley Project, Mono County, California, USA" dated February 20, 2003, prepared in compliance with National Instrument 43-101 standards, the results of which were previously reported by Vista in a press release dated January 23, 2003. Based on the February 2003 report, the estimated gold resources for the Long Valley Project, reported at a cutoff grade of 0.01 ounces of gold per ton were (note: totals may not add due to rounding):

                              Short Tons       Grade          Contained Gold
                                (000s)      (Au oz/ton)          Ounces
  Measured resources 1)         26,597         0.017             452,500
  Indicated resources 1)        41,679         0.018             758,700
  Total measured and
   indicated resources 1)       68,276         0.018           1,211,100


  1) Cautionary Note to U.S. Investors concerning estimates of Measured and
     Indicated Resources: This table uses the terms "measured resources" and
     "indicated resources". We advise U.S. investors that while these terms
     are recognized and required by Canadian regulations, the U.S.
     Securities and Exchange Commission does not recognize them. U.S.
     investors are cautioned not to assume that any part or all of mineral
     deposits in these categories will ever be converted into reserves.



                              Short Tons       Grade          Contained Gold
                                (000s)      (Au oz/ton)          Ounces
  Inferred resources 2)         32,914         0.017             571,500

  2) Cautionary Note to U.S. Investors concerning estimates of Inferred
     Resources: This table uses the term "inferred resources". We advise
     U.S. investors that while this term is recognized and required by
     Canadian regulations, the U.S. Securities and Exchange Commission does
     not recognize it. "Inferred resources" have a great amount of
     uncertainty as to their existence, and great uncertainty as to their
     economic and legal feasibility. It cannot be assumed that all or any
     part of an inferred mineral resource will ever be upgraded to a higher
     category. Under Canadian rules, estimates of inferred mineral resources
     may not form the basis of a feasibility study or prefeasibility
     studies, except in rare cases. U.S. investors are cautioned not to
     assume that any part or all of an inferred resource exists or is
     economically or legally minable.

In undertaking the preliminary assessment described in the 2008 report, MDA considered the economic and technical parameters associated with development of the mineral resources within the restraints imposed by the state of California's mining regulations that include a provision that all mined materials not removed from the property be replaced within the perimeter of the excavation. The preliminary assessment evaluated the potential economics of the project assuming that the mineral resources were mined using open-pit mining methods and processed using heap-leach technology. The preliminary assessment contemplates mining activities conducted by the owner using purchased equipment. The study included a process flowsheet based on metallurgical testing conducted over the past ten years under the supervision of previous owners and consisting of cyanide shake leach assays on pulps, bottle roll tests on drill cuttings from numerous reverse circulation holes and long-term column tests on bulk samples from surface samples and core samples. The metallurgical test work and flowsheet were reviewed and approved for this study by Resource Development Inc. of Wheat Ridge, Colorado. The flowsheet proposes a lined heap-leach pad to be loaded at a rate of 4,000,000 tons per year of material in 30-foot-high lifts. The material would be crushed to a nominal 3-inch size and agglomerated with lime and cement prior to placing on the heap leach pad. Following application of cyanide leach solutions, the gold would be recovered in carbon columns from which it would be stripped and a gold dore would be produced by electrowinning. After the pit material has been mined, the remaining waste materials would be backfilled into the pit along with the detoxified heap material.

Using a gold cutoff grade of 0.007 ounces per ton, the estimated gold resources within a designed pit as described in the 2008 report are shown in the following table.

                       PRELIMINARY ASSESSMENT STUDY
                   Gold Resources Within a Designed Pit
                   (above a 0.007 opt Au cutoff grade)

  Class                   Mineral  Gold    Contained  Total  Total Stripping
                           Tons    Grade      Gold    Waste   Tons   Ratio
                           (000s)(Au oz/ton)  (oz)     Tons  (000s)  (W:O)
                                                      (000s)

  Measured resources (1)   15,112   0.018  265,600                      NA
  Indicated resources (1)  15,880   0.023  358,100                      NA
  Total Measured and
   Indicated Resources (1) 30,992   0.020  623,700                      NA

  Inferred resources (2)    2,467   0.033   61,100                      NA
                                                      29,208 62,668    0.87

  (1) Cautionary Note to U.S. Investors concerning estimates of Measured and
      Indicated Resources: This table uses the terms "measured resources"
      and "indicated resources". We advise U.S. investors that while these
      terms are recognized and required by Canadian regulations, the U.S.
      Securities and Exchange Commission does not recognize them. U.S.
      investors are cautioned not to assume that any part or all of mineral
      deposits in these categories will ever be converted into reserves.

  (2) Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This table uses the term "inferred resources". We advise
      U.S. investors that while this term is recognized and required by
      Canadian regulations, the U.S. Securities and Exchange Commission does
      not recognize it. "Inferred resources" have a great amount of
      uncertainty as to their existence, and great uncertainty as to their
      economic and legal feasibility. It cannot be assumed that all or any
      part of an inferred mineral resource will ever be upgraded to a higher
      category. Under Canadian rules, estimates of inferred mineral
      resources may not form the basis of a feasibility study or
      prefeasibility studies, except in rare cases. U.S. investors are
      cautioned not to assume that any part or all of an inferred resource
      exists or is economically or legally mineable.

In the preliminary assessment, MDA estimated startup capital at US$58.8 million and total project capital at US$61.8 million. Operating costs including mine closure and heap detoxification are estimated per ton of material mined and processed on a heap leach as follows: mining, US$3.54 per ton; processing, US$1.96 per ton; cyanide destruction, US$0.25 per ton; and general and administrative costs and royalties, US$0.89 per ton. Total operating costs are estimated at US$6.64 per ton of heap-leach material mined and processed which equates to US$415 per ounce of gold recovered. An estimated 535,300 ounces of gold would be produced over an eight-year mine life.

MDA used a base-case gold price of US$550 per ounce, with sensitivity analyses completed at higher and lower gold prices. The positive pre-tax result estimates are shown in the following table, and indicate that the project could be potentially economically viable at gold prices of US$550 per ounce and above. Additional work is required to determine the economic viability of the project.

  Gold Price           Net Present Value at 5%       Internal Rate of Return
  (US$/oz)                 Discount Rate
                          (US$ millions)
  $550                         $6.6                         12.3%
  $600                        $25.7                         25.5%
  $650                        $44.7                         35.9%
  $700                        $63.8                         45.4%
  $750                        $82.9                         54.4%
  $800                       $101.9                         63.2%

The "preliminary assessment" is preliminary in nature and includes inferred mineral resources (7% inferred and 93% measured and indicated) that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Fred Earnest, Vista's President and COO, commented, "At the moment, Vista is primarily concentrating on the development of its Paredones Amarillos Project in Mexico and the evaluation of the potentially larger Mt. Todd Project in Australia, and has no immediate plans to develop the Long Valley Project. The results of this preliminary assessment are encouraging, indicating that at current gold prices, extraction of the mineral resources in a manner consistent with the mining laws of the state of California could generate substantial value. We are encouraged by the results, especially considering that in 2003 we acquired the Long Valley Project for US$750,000 and a 1% net smelter royalty."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista has recently completed a preliminary feasibility study on the Paredones Amarillos Project in Mexico that indicated positive results at gold prices lower than those now prevailing. Vista plans to confirm these results with a definitive feasibility study in 2008. Vista is undertaking programs to advance the Paredones Amarillos Project, including the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and Amayapampa Project in Bolivia.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as the purchase of gold processing equipment for the Paredones Amarillos project, potential financing alternatives and availability and timing of funding for the equipment purchase and for other expenditures relating to the development at the Paredones Amarillos project and estimated capital requirements for the project, and for other Vista projects, results of the preliminary assessment for the Long Valley deposit including previous and newly reported resource estimates, economic and technical parameters associated with possible development of resources at the Long Valley deposit including mining and processing methods and compliance with California state law in connection with such possible development, estimated capital costs for the Long Valley project and estimated operating costs and components thereof, estimated mine life and estimated production over the mine life, gold price projections, estimates of net present value and internal rate of return for the Long Valley project at various gold prices, preliminary feasibility study results, and plans for a definitive feasibility study and for construction and development activities at the Paredones Amarillos project, plans for evaluation of the Mt. Todd project including preliminary assessment results and plans, timing and results for a definitive feasibility study to be undertaken at the Mt. Todd project, Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, Vista's potential status as a producer, and other such matters are forward-looking statements. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements. 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 forward-looking statements. Such factors include, among others, uncertainty of preliminary assessment results and of feasibility study results and estimates on which such results are based; risks relating to delays in commencement and completion of construction at the Paredones Amarillos project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; uncertainty of being able to raise capital on favorable terms or at all; and external risks relating to the economy and credit markets in general; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Vista assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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

Vista Gold Corp. (TSX & Amex: VGZ) is pleased to announce that it has reached an agreement in principal with A.M. King Industries, Inc. ("A.M. King") and Del Norte Company Ltd., a wholly owned subsidiary of A.M. King, to purchase gold processing equipment to be used at Vista's Paredones Amarillos gold project in Baja California Sur, Mexico. The equipment includes a 10,000 tonne per day semi-autogenous (SAG) grinding mill, two ball mills, gyratory crusher and a shorthead cone crusher, along with other related components, spare parts, and other process plant equipment. The purchase price of US$16,010,000 will be payable in three installments -- the first payment of 50% of the purchase price (US$8,005,000) payable on signing of the purchase agreement and the second and third payments (25%, or US$4,002,500 each) payable based on an equipment delivery schedule with respective parameters targeted to occur in February and March, 2008. The purchase price includes the cost of relocating the equipment to Edmonton, Alberta, Canada. From this point, Vista will arrange for reconditioning and transportation of the equipment to the Paredones Amarillos mine site. The equipment is presently located in northern Canada. Vista intends to purchase the equipment through its wholly owned subsidiary, Minera Paredones Amarillos, S.A. de C.V.

The Company is also pleased to announce the appointment of Carlos Calderon, Jr., as Vice President, Project Development, effective January 7. He will also have the title and duties of General Manager and Legal Representative for Minera Paredones Amarillos, S.A. de C.V. and will focus primarily on the development of the Paredones Amarillos Project. Mr. Calderon holds a M.Sc. degree in Mining Engineering from South Dakota School of Mines, and over the past 36 years has managed exploration, construction and operational projects in Latin America and the U.S., including serving as General Manager for the Paredones Amarillos Project for the prior operator, Echo Bay Mines until the project was put on hold when gold prices dropped in 1997.

Fred Earnest, President and COO, commented, "This purchase is an important milestone in the Company's goal to become a gold producer at the earliest possible time. The decision to purchase this major portion of the project's processing equipment re-affirms our earlier decision to place Paredones Amarillos into production and to do it as soon as possible. In addition to anticipated significant capital cost savings, we believe that the purchase and planned comprehensive reconditioning of this used equipment will save 12-18 months over the time required for the delivery of similar new equipment, thus helping us meet our development schedule. The development of the Paredones Amarillos Project is the first step in our plans to become a mid-tier gold producer. We are also very pleased to welcome Carlos Calderon to the Company. With his proven track record of building and operating mining projects, especially in Latin America, and his prior experience at Paredones Amarillos, we believe he will be a very important asset for the Company as well as the Paredones Amarillos Project, and will be able to get up to speed very quickly."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista has recently completed a preliminary feasibility study on the Paredones Amarillos Project in Mexico that indicated positive results at gold prices lower than those now prevailing. Vista plans to confirm these results with a definitive feasibility study in 2008. Vista is undertaking programs to advance the Paredones Amarillos Project, including the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista's other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and Amayapampa Project in Bolivia.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 potential development of the Paredones Amarillos project including anticipated timing of commencement of construction of the project, availability of funding for development of the Paredones Amarillos project and estimates of cash costs and required capital investment for the project, estimates of production life, rates of production and internal rates of return if production is commenced at the Paredones Amarillos project, Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, Vista's potential status as a producer, and other such matters are forward-looking statements. When used in this press release, the words "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements. 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 forward-looking statements. Such factors include, among others, risks relating to completion of the agreement contemplated in this press release, delays and occurrence of additional costs in connection with the condition of the equipment being purchased and costs and time associated with reconditioning the equipment, ability to meet the anticipated schedule for delivery of the equipment to Edmonton, Alberta, Canada, the feasibility study underway at the Paredones Amarillos project; uncertainty of feasibility study results and estimates on which such results are based; risks relating to delays in commencement and completion of construction at the Paredones Amarillos project; risks of shortages of equipment or supplies; risks of inability to achieve anticipated production volume or manage cost increases; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; 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; uncertainty of being able to raise capital on favorable terms or at all; and external risks relating to the economy and credit markets in general; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Vista assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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

First Call Analyst:
FCMN Contact:

SOURCE: Vista Gold Corp.

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

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