Vista Gold

Vista Gold Corp. (AMEX: VGZ) Toronto announced a net loss of $590,000, or $0.01 per share, for the three months ended September 30, 2000 as compared to a net loss of $1.8 million, or $0.02 per share, for the same period in 1999. The primary reason for the improvement and decrease in net losses was the discontinuance of operations at the Mineral Ridge Mine, which operated at a loss in 1999. Due to further reductions in warehouse inventory, sale of non-essential equipment and continued gold production at the Hycroft mine the Corporation's cash position improved during the quarter with a net increase of $215,000 to $638,000.

                             SUMMARY RESULTS
              (U.S. dollars in thousands, except share data)

                             Three Months Ended       Nine Months Ended
                                September 30             September 30
                             2000         1999        2000          1999

  Gold sales                    $696      $4,742       $3,312     $16,014
  Net loss                      (590)     (1,788)      (1,507)     (9,324)
  Earnings (loss)
   per share                  $(0.01)     $(0.02)      $(0.02)     $(0.10)

  Weighted average
   shares outstanding     90,715,040  90,715,040   90,715,040  90,715,040


                       CONSOLIDATED GOLD PRODUCTION
                                 (Ounces)

  Hycroft mine gold
   production                  2,691       8,065       11,830      33,939
  Mineral Ridge mine
   gold production                --       8,502           --      19,900
    Total gold production      2,691      16,567       11,830      53,839

At the Hycroft mine, production (from ore previously mined and placed on the leach pads) is now expected to reach 13,000 ounces for year 2000. With the continued low gold prices, the Corporation re-examined restarting the run-of-mine heap leaching operation at Hycroft at a higher production rate. This scenario would produce approximately 350,000 ounces of gold over a five year period instead of the seven year period first contemplated. The accelerated production rate substantially improves the economics and shows that the project would have a cash cost of $183 an ounce with an after tax internal rate of return of 31-percent at a $275 gold price. The incremental capital required to restart the Brimstone operation is $13 million plus working capital of $5 million. If the Corporation is able to obtain this additional capital, mining operations could restart immediately, as the project is fully permitted, and infrastructure and key management are in place.

Recent pit-mapping and chip logging on the Central Fault pit area has identified areas of additional oxide mineralization which can be extended to the southeast with additional drilling. This is in addition to those areas which have been identified and reported previously which could yield an additional 400,000-450,000 ounces of oxide mineral resources with additional drilling. A hypogene vein system has also been identified in the Cut 4 area of the Central Fault pit that has a strike length in excess of 1,300 feet; with true widths varying from 5-25 feet and grades averaging 0.15 ounces per ton. Continued compilation of geologic and drill hole data shows that Hycroft is a large epithermal gold system with multiple targets for high-grade mineralization (greater than 0.1 ounce per ton gold). The exploration database for the Hycroft project area now consists of around 320,000 blast holes, 3,000 exploration drill holes and various geochemical surveys. However, only six drill holes have penetrated the levels considered by the Corporation's geologists as most permissive for high-grade exploration targets.

With respect to the USF&G Lawsuit announced in our press release of August 31, 2000, an Emergency Motion for Preliminary Injunction was filed by USF&G on September 7, 2000 and this motion was denied by the court on October 16, 2000. In his ruling, the judge stated that "A party cannot be obligated for the debt of another absent an express agreement assuming such liability." As no such agreement exists, the Corporation feels that this is a very positive step towards concluding this suit.

The Corporation, together with its financial adviser, continues to examine a number of corporate strategies to enhance shareholder value including the sale of assets and pursuit of strategic alliances with other gold companies.

Vista Gold Corp. is an international gold mining, development and exploration company based in Denver, Colorado. Its holdings include the Hycroft mine in Nevada, a development project in Bolivia, and exploration projects in North and South America.

The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's Form 10-K.

For further information, please contact Investor Relations at (720) 981-1185.

SOURCE: Vista Gold Corp.

Contact: Vista Gold Corp. Investor Relations, 720-981-1185

Vista Gold (AMEX: VGZ) Toronto is pleased to announce the appointment of Mr. Ronald (Jock) McGregor as President and CEO, following the retirement of Mr. Michael Richings, effective September 8, 2000. Mr. Richings' plans have been underway for some time and he will remain as a non-executive director and continue to work with management on corporate and strategic alternatives currently under consideration.

Mr. McGregor has been with the company since 1996 as the Vice President of Operations and Development and has extensive mining industry experience in both operations and project development gained over a period of 30 years in Europe, Africa, and North and South America. He holds a B.Sc. (Hon) degree in Extractive Metallurgy from the Royal School of Mines and his experience includes senior positions in both engineering and construction companies as well as large and small operating companies. "I look forward to providing the continuity needed to keep Vista on track and I will continue to aggressively pursue all opportunities available to Vista in these challenging times," said Jock McGregor.

The Corporation also wishes to provide an update on the most recent developments at the Hycroft mine. A new alternative development plan that accelerates the development schedule for the Brimstone Deposit would produce a total of 350,000 ounces of gold over a five-year period with three years averaging 90,000 to 100,000 ounces per year. This fully permitted open-pit run-of-mine heap leach operation has an excellent historic record, which fully supports processing recoveries, production and cost estimates. Financial analysis of the incremental benefit of restarting the operation at Hycroft based on the new mine plan shows that the average cash cost would be $182 per ounce of gold (including royalties and net proceeds taxes). The capital cost would be $7.8 million ($22 per ounce), with a pre-production stripping cost of $5.1 million and a working capital requirement of $3.4 million. The after-tax internal rate of return at a $275 per ounce spot gold price is estimated to be 31 percent. In addition, the Corporation believes, based on an extensive exploration review, approximately 400,000 to 450,000 ounces of additional gold reserves (two years of production) can be added with a modest drilling and work program.

Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Hycroft mine in Nevada, a development project in Bolivia, and exploration projects in North and South America.

The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's Form 10-K.

For further information, please contact Investor Relations at (720) 981-1185.

SOURCE: Vista Gold Corp.

Contact: Investor Relations of Vista Gold Corp., 720-981-1185

Website: http://www.vistagold.com/

Vista Gold Corp. (AMEX: VGZ) Toronto reported today that USF&G has brought a claim in the United States District Court of Nevada for approximately $800,000, which it alleges is the deficiency between the face amount of the $1.6 million reclamation bond it issued for the Mineral Ridge Mine bond and the collateral it holds from Mineral Ridge Resources Inc.

Mineral Ridge Resources Inc., a wholly-owned subsidiary of Vista Gold, is presently in Chapter 11 bankruptcy proceedings as previously reported. The claim alleges that Vista Gold is liable to USF&G as an indemnitor under the bond.

"Vista Gold denies that it has any liability whatsoever to USF&G in relation to the bond as it did not assume any obligation as indemnitor when it acquired Mineral Ridge Resources Inc. from Cornucopia Resources Ltd. in 1998 and did not subsequently agree to do so. Vista Gold considers the claim to be completely without merit, and intends to vigorously defend against this suit by USF&G," said Michael B. Richings, President.

Vista Gold Corp. is an international gold mining, development and exploration company based in Denver, Colorado. Its holdings include the Hycroft mine in Nevada, a development project in Bolivia, and exploration projects in North and South America.

The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's Form 10-K.

For further information, please contact Investor Relations at (720) 981-1185.

SOURCE: Vista Gold Corp.

Contact: Vista Gold Corp. Investor Relations, 720-981-1185

Website: http://www.vistagold.com/

Vista Gold Corp.(AMEX: VGZ) Toronto announced a net loss of $775,000, or $0.01 per share, for the three months ended June 30, 2000 as compared to a net loss of $4.5 million, or $0.05 per share, for the same period in 1999. The primary reason for the improvement and decrease in net losses was the discontinuance of operations at the Mineral Ridge Mine, which operated at a loss in 1999.

                             SUMMARY RESULTS
              (U.S. dollars in thousands, except share data)

                             Three Months Ended        Six Months Ended
                                  June 30                  June 30
                              2000        1999         2000        1999

   Gold sales               $1,217       $4,862      $2,615      $11,272
   Net loss                   (775)      (4,491)       (917)      (7,536)
   Earnings (loss)
    per share               $(0.01)      $(0.05)      $(0.01)     $(0.08)

   Weighted average
    shares outstanding   90,715,040   90,715,040  90,715,040   90,715,040


                         CONSOLIDATED PRODUCTION
                                 (Ounces)

   Hycroft mine gold
    production               4,212       10,104       9,139       25,874
   Mineral Ridge mine
    gold production             --        7,908          --       11,398
      Total gold production  4,212       18,012       9,139       37,272

At the Hycroft mine, production (from ore previously mined and placed on the leach pads) is expected to be 12,000 ounces for year 2000. The Corporation has recently completed a feasibility study indicating favorable economics for restarting the Hycroft operation at a spot gold price of $300 per ounce. Vista is continuing to study other production models, which may support a restart of mining at prices below $300 per ounce.

Exploration activities at Hycroft are being directed towards the previously announced geochemical anomaly and have revealed a 2000-foot long silicified fault breccia in the foot-wall of the structure that defines the east margin of the Brimstone pit. The silicified breccia has been mapped with widths ranging from 20 to 120 feet. The zone has consistently anomalous gold and silver values, with gold ranging from .006 to .014 ounces per ton, and silver values ranging from one to five ounces per ton. Secondary oxidized silver values over 30 ounces per ton have been obtained from chip samples of five feet in width. The zone is a new target, which offers the opportunity to increase the current Brimstone oxide ore reserves.

In the immediate foot-wall of this silicified structure, chalcedonic veins and pyritic silicification have been sampled. Vein widths of up to three feet have been encountered with neighboring pyritic silicification reaching widths of five feet. Silver values of ten to 30 ounces per ton have been obtained in five-foot chip samples and while this zone has not yet been drilled by Vista, it indicates that higher grade, vein type mineralization is present on the Hycroft Property.

In light of the continued low gold prices, the Corporation has taken many steps to reduce the cost of its activities including significant reduction in holding costs. It is anticipated that the current cash position ($0.9 million, including unsold gold bullion), together with revenue from expected gold production and the effect of reduced expenditure levels will be sufficient to meet the Corporation's needs into 2001. The Corporation together with its financial advisor is examining a number of alternative corporate strategies. Vista also has contingency plans to dispose of surplus equipment, should it be necessary, which would provide an estimated additional one-year of funding at current expenditure levels.

The Corporation has relocated its executive office to 7961 Shaffer Parkway, Suite 5, Littleton, Colorado 80127. The new telephone number is (720) 981-1185 and the facsimile number is (720) 981-1186.

Vista Gold Corp. is an international gold mining, development and exploration company based in Denver, Colorado. Its holdings include the Hycroft mine in Nevada, a development project in Bolivia, and exploration projects in North and South America.

2000-08-31 13:15:34The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's Form 10-K.

For further information, please contact Investor Relations at (720) 981-1185.

SOURCE: Vista Gold Corp.

Contact: Investor Relations of Vista Gold Corp., 720-981-1185

Website: http://www.vistagold.com/