Vista Gold

Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce that it and Grandcru Resources Corporation have signed an agreement for Vista to acquire Grandcru's interest in two gold/silver mineral properties adjacent to Vista's Guadalupe de los Reyes project in Sinaloa, Mexico, subject to receipt of all necessary regulatory and other approvals.

Under the terms of the agreement, Vista will (a) pay Grandcru US$425,000 less any amounts payable in back taxes on the mining concessions, and pay a private investment group known as the San Miguel Group US$75,000, and (b) issue to Grandcru and the San Miguel Group, in aggregate, common shares of Vista with a value of US$1,000,000 on closing. In addition, Vista has reached agreement with Goldcorp Inc. and its Mexican subsidiary, Desarrollos Mineros San Luis, S.A. de C.V. (together, "San Luis"), and with the San Miguel Group to complete the acquisition of their respective interests at the same time as the closing occurs with Grandcru. Vista will pay a 2% net smelter returns royalty ("NSR") on all minerals produced payable to the San Miguel Group on the mining concessions known as the San Miguel Concessions. Vista will pay San Luis a 1% NSR on mining concessions known as the San Luis Concessions and the San Miguel Concessions, and 2% to 3% NSR depending on the gold price on Vista's mining concessions known as the Gaitan Concessions. At gold prices below US$499.99 per ounce, the royalty payable to San Luis on the Gaitan Concessions will be 2% and at or above US$500 per ounce, the royalty will be 3%. Certain of the San Luis Concessions are subject to a pre-existing underlying royalty of 3% NSR payable to Sanluis Corporacion, S.A. de C.V.

As previously announced by Vista on September 29, 2003, a resource study on the portion of the Guadalupe de los Reyes property held by Vista was completed on July 17, 2003, by Pincock, Allen & Holt Ltd., of Lakewood, Colorado, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines under the supervision of Leonel Lopez and Mark G. Stevens, independent qualified persons, and titled "Technical Report for the Guadalupe de Los Reyes Gold-Silver Project, State of Sinaloa, Western Mexico" and filed on SEDAR under Vista Gold Corp. The results of the study indicated that at a cutoff grade of 0.5 g/t gold, the portion of the property held by Vista contains 6.3 million tonnes grading 1.36 g/t gold and 23.0 g/t silver for an estimated 277,600 ounces of gold and 4.7 million ounces of silver in the indicated resources(1) category, and 3.8 million tonnes grading 2.01 g/t gold and 65.6 g/t silver for an estimated 247,850 ounces of gold and 8.1 million ounces of silver in the inferred resources(2) category.

A resource analysis on the portion of the Guadalupe de los Reyes property that Grandcru holds an interest in was completed for Grandcru on April 11, 2005, by Pincock Allen & Holt Ltd. of Lakewood, Colorado, in accordance with Canadian National Instrument 43-101 guidelines under the supervision of Leonel Lopez and Mark G. Stevens, independent qualified persons, and titled "Technical Report, Los Reyes, Gold-Silver Project, State of Sinaloa, Western Mexico" and filed on SEDAR under Grandcru Resources Corporation. The results of the study indicated that at a cutoff grade of 0.5 g/t gold, the portion of the property covered by Grandcru's option contains 3.7 million tonnes grading 1.73 g/t gold and 30.4 g/t silver for an estimated 207,000 ounces of gold and 3.6 million ounces of silver in the indicated resources(1) category, and 1.0 million tonnes grading 2.05 g/t gold and 39.4 g/t silver for an estimated 68,000 ounces of gold and 1.3 million ounces of silver in the inferred resources(2) category.

Based on the two studies noted above, at a cutoff grade of 0.5 g/t gold, the combined gold and silver resources, which are the total estimated gold and silver resources in the Guadalupe de los Reyes district, are as shown in the following table:

        Guadalupe de los Reyes Project Mineral Resource Estimates

 (Resource estimates have been adjusted to reflect material removed from
                        old underground workings)


                                 Gold      Contained    Silver     Contained
                 Metric          Grade       Gold       Grade       Silver
                 Tonnes          (g/t)      Ounces      (g/t)       Ounces
  Indicated(1)  10,061,000       1.50       484,600     25.7       8,300,000
  Inferred (2)   4,876,000       2.02       315,850     60.0       9,400,000



  1) Cautionary Note to U.S. Investors concerning estimates of Indicated
  Resources: This document uses the term "indicated 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. U.S. investors are cautioned not to assume that any part or
  all of mineral deposits in this category 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 other economic study. 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 consolidation of the mineral rights in this historic mining district will allow Vista to conduct a comprehensive exploration and development program. The resource estimates demonstrate potentially economic gold and silver grades and expansion of the resource base could make the project attractive to put into production.

The Guadalupe de los Reyes project is situated in the western side of the Sierra Madre Occidental Province, a late Cretaceous to Tertiary age volcanic sequence that extends for hundreds of kilometers. This geologic province encloses a number of historically productive gold and silver deposits including Guadalupe de los Reyes and others, such as Hostotipaquillo, Bolanos, Guanajuato, La Cienega, Tayoltita, Topia, Batopilas, and Dolores.

Mineralization in the project area has been found in nine target areas along a series of nine northwesterly trending structural zones in andesites of Tertiary age of the Lower Volcanic Sequence.

Mineralization occurs in westward dipping structural zones that range from a few meters to several tens of meters in thickness. Some of these targets have bulk tonnage potential, which may be amenable to open-pit mining, such as El Zapote, San Miguel, Guadalupe Mine (Laija and West), Tahonitas, Noche Buena, and El Orito zones. The El Zapote zone has received the most extensive exploration to date.

Vista plans to explore the property in a staged approach beginning with a compilation and review of the several data sets followed by geologic mapping, sampling and where appropriate, geophysical coverage of the whole property package. Vista's data review is intended to identify potential extensions of known mineralization and structural zones that are targets for new areas of mineralization. Vista then will evaluate and rank mineralized zones and prospective areas to define drill targets.

Fred Earnest, Vista's President and COO, stated, "This acquisition marks an intensification of Vista's efforts in Mexico. As we build the Paredones Amarillos project, planned for completion by the last quarter 2009, it makes sense for us to undertake further developments in Mexico. The consolidation of the mineral properties at Guadalupe de los Reyes, while adding to Vista's estimated gold and silver resource base, more importantly results in a land package that we believe will generate significant exploration opportunities and also is potentially attractive for development of the project into an operating mine."

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 2009. 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 the end of 2008. 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 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 completion of the pending acquisition as announced herein of the gold/silver mineral properties in the Guadalupe de los Reyes area, estimates of gold and silver mineralization at the Guadalupe de los Reyes property, potential for economic gold and silver grades, 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 including compilation and review of data and identification of drill targets, exploration and development opportunities at the Guadalupe de los Reyes property, potential extensions of known mineralization and identification of structural zones that are targets for new mineralization at the property, potential for development of an operating mine at the property, plans for development of the Paredones Amarillos property including anticipated time for commencement of production, schedule for anticipated production decision at the Mt. Todd property, results of preliminary economic assessments and preliminary feasibility studies, 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 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) announced today that Luzon Minerals Ltd. has decided not to exercise its option to acquire from Vista the Amayapampa Gold Project in Bolivia, citing its inability to advance the project with its current financial and personnel resources. Luzon had an option to acquire Vista's interest in the project from Vista pursuant to an option agreement dated March 13, 2007 (see Vista's press release dated March 14, 2007). Vista and Luzon have entered into an agreement regarding the termination of the option agreement and the terms on which Luzon's outstanding obligations with respect to the project will be satisfied.

Mike Richings, Vista's Executive Chairman and CEO, commented on the news: "We have been concerned about the slow progress at the Amayapampa project during these times of high gold prices and recognized that continued delay in placing the project into production might not be well received by the local community. Vista plans to continue to advance the project while seeking a partner or buyer with the financial and personnel resources to manage and develop the project and commence commercial gold production in the shortest time possible. Vista plans to engage consultants and commence a work program to upgrade the scoping study completed by Luzon (initially filed on SEDAR under Luzon Minerals Ltd. and subsequently by Vista on October 18, 2006) to a feasibility study. We remain confident that the project is an attractive project at today's gold prices. Employee training, which Luzon had started, utilizing the services of professional trainers, will continue and the workers will be provided opportunities to participate in the on-site activities related to the proposed work program as plans for the program are developed."

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. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at current gold prices. Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 to advance the Amaypampa Project including plans for commencement of a work program to upgrade the scoping study to a feasibility study for the Project and performance or results of any such feasibility study, plans to seek a potential partner or buyer to manage or develop the Amayapampa Project, timing for commencement of commercial production at the Project, anticipated profitability of the Project, continuation of employee training at the 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 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. 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 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) announced today its financial results for the three and nine months ended September 30, 2007, as filed on November 9, 2007, with the US Securities and Exchange Commission and with the relevant securities commissions in Canada in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended September 30, 2007 of US$2.2 million or US$0.07 per share compared to a consolidated net loss of US$1.4 million or US$0.05 per share for the same period in 2006. The Corporation's consolidated net loss for the nine-month period ended September 30, 2007 was US$6.2 million or US$0.19 per share compared to a consolidated net loss of US$3.4 million or US$0.14 per share for the same period in 2006. For both the three and nine-month periods, the increases in the consolidated losses of US$0.8 million and US$2.8 million from the respective prior periods are primarily the result of costs related to the completion on May 10, 2007, of the Arrangement involving the Corporation, Allied Nevada Gold Corp. and Carl and Janet Pescio. The transaction resulted in the acquisition by Allied Nevada of the Corporation's Nevada properties and the Nevada mineral assets of Carl and Janet Pescio. These costs amounted to US$0.5 million and US$2.9 million for the respective periods.

Cash used in operations was US$1.0 million for the three-month period ended September 30, 2007, compared to US$1.1 million for the same period in 2006. The decrease of US$0.1 million is the result of an increase in accounts receivable of US$0.2 million, an increase in supplies inventory, prepaids and other of US$0.8 million and an aggregate increase of non-cash items of US$0.3 million, partially offset by a decrease in accounts payable, accrued liabilities and other expenses of US$0.3 million; and an increase in the consolidated net loss of US$0.8 million.

Cash used in operations was US$3.9 million for the nine-month period ended September 30, 2007, compared to US$3.3 million for the same period in 2006. The increase of US$0.6 million is mostly the result of an increase in the Corporation's net loss for the same 2006 period of US$2.8 million, which is partially offset by an aggregate increase of non-cash items of US$2.2 million.

Net cash used for investing activities increased to US$1.3 million for the three-month period ended September 30, 2007 from US$1.0 million for the same period in 2006. The increase of US$0.3 million mostly reflects an increase of US$0.3 million for additions to mineral properties. The US$1.3 million invested for the three-month period ended September 30, 2007 was mostly attributable to: the Corporation's Mt. Todd project in Australia -- US$0.8 million on an intensive exploration program with the objective of confirming and better defining the resource base and to obtain samples for metallurgical testing; the Corporation's Paredones Amarillos project in Mexico and other projects -- US$0.5 million on pre-feasibility and pre-development work and annual option payments. As stated in the Corporation's recent press release dated November 6, 2007, the Board approved the funding for the initial development of the Paredones Amarillos project; management anticipates that this will result in extensive investment in that property in the ensuing months.

Net cash used for investing activities increased to US$29.6 million for the nine-month period ended September 30, 2007 from US$3.2 million for the same period in 2006. The increase of US$26.3 million mostly reflects the US$24.5 million cash transferred to Allied Nevada in conjunction with the Plan of Arrangement representing the Corporation's payment of US$25 million, less US$0.5 million in loans repaid to the Corporation by Allied Nevada, pursuant to the terms of the Arrangement Agreement. In return for the payment and transfer of assets to Allied Nevada, the Corporation received 26,933,055 shares of Allied Nevada, of which 25,403,207 shares were distributed to the Corporation's shareholders and 1,529,848 shares are being retained by the Corporation to facilitate the tax payments, if any, payable in respect of the Arrangement. Although management has been informed that based on latest tax determinations the Corporation is not subject to a tax withholding requirement with respect to any gain deemed realized on the distribution, the Corporation will not know what its ultimate tax liability, if any, will be until its corporate income tax returns are completed for the year ending December 31, 2007. Of the remaining US$5.0 million invested in the nine-month period ended September 30, 2007, US$4.6 million was spent on upgrading of mineral properties. The majority of the US$4.6 million was spent on: Mt. Todd -- US$3.7 million on an extensive drilling program and other land costs, Paredones Amarillos and other projects -- US$0.9 million on pre-development work and pre-feasibility work.

Net cash provided by financing activities increased to US$1.9 million for the three-month period ended September 30, 2007, from US$1.1 million for the same period in 2006. Net cash provided by financing activities decreased to US$3.4 million for the nine-month period ended September 30, 2007, from US$26.4 million for the same period in 2006. Warrants exercised during the three-month period ended September 30, 2007 produced cash proceeds of US$1.4 million, as compared to US$0.8 million for the same period in 2006. For the three-month period, the increase relates to warrant exercises pertaining to the September 2005 private placement warrants that expired on September 23, 2007. Warrants exercised during the nine-month period ended September 30, 2007 produced cash proceeds of US$2.9 million, as compared to US$25.6 million for the same period in 2006. For the nine-month period, the decrease relates to the acceleration in May 2006 of the expiry of the warrants issued in the Corporation's February 2003 private placement and the warrants issued in the Corporation's September 2004 private placement.

Stock option exercises produced cash of US$0.5 million during the three-month period ended September 30, 2007 as compared to US$0.3 million for the same period in 2006. Stock option exercises produced cash of US$0.5 million during the nine-month period ended September 30, 2007 as compared to US$0.8 million for the same period in 2006.

At September 30, 2007, the Corporation's total assets were US$55.7 million compared to US$92.7 million at December 31, 2006, representing a decrease of US$37.0 million. Part of this decrease of US$18.6 million was attributed to the mineral properties transferred to Allied Nevada Gold Corp.; the remaining decrease was primarily made up of the reduction in working capital. At September 30, 2007, the Corporation had working capital of US$27.9 million compared to US$49.7 million at December 31, 2006, representing a decrease of US$21.8 million. This decrease relates to a decrease in cash balances from year end due to the transfer of US$25 million to Allied Nevada net of US$0.5 million in loans repaid to the Corporation by Allied Nevada pursuant to the terms of the Arrangement Agreement.

The principal component of working capital at both September 30, 2007 and December 31, 2006, is cash and cash equivalents of US$18.6 million and US$48.7 million, respectively. Other components include supplies inventory, prepaids and other (September 30, 2007 -- US$0.5 million; December 31, 2006 -- US$0.3 million), marketable securities (September 30, 2007 -- US$9.0 million; December 31, 2006 -- US$0.8 million) and accounts receivable (September 30, 2007 -- US$0.4 million; December 31, 2006 -- US$0.6 million). Included in the marketable securities at the end of September 30, 2007, is the value of US$7.6 million for the Allied Nevada Gold Corp. shares held by the Corporation. At September 30, 2007, the Corporation had no outstanding debt to banks or financial institutions.

The selected financial data including the results of operations for the three-month and nine-month periods ended September 30, 2007 compared to the same periods in 2006, and the financial position as at September 30, 2007 compared to December 31, 2006 is summarized in the following table:

  Selected Financial            Three Months Ended       Nine Months Ended
        Data                      September 30,           September 30,
                                 2007        2006        2007         2006
  U.S. $000's, except
   loss per share

  Results of operations
  Net loss                    $(2,200)    $(1,361)    $(6,204)     $(3,395)
  Basic and diluted loss
   per share                    (0.07)      (0.05)      (0.19)       (0.14)

  Net cash used in
   operations                    (956)     (1,113)     (3,922)      (3,259)
  Net cash used in
   investing activities        (1,301)       (960)    (29,588)      (3,239)
  Net cash provided by
   financing activities         1,902       1,082       3,414       26,372

  Financial position          September   December
                                 30,         31,
                                2007        2006

  Current assets              $28,456     $50,430
  Total assets                 55,746      92,731
  Current liabilities             549         732
  Total liabilities               574       5,604
  Shareholders' equity         55,172      87,127

  Working capital              27,907      49,698



  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. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at current gold prices. Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and the Guadalupe de los Reyes Projects in Mexico, the Mt. Todd Project in Australia, the Yellow Pine Project in Idaho, the Awak Mas Project in Indonesia, the Long Valley Project in California, and the 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 applicable 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 drilling programs and prospects for exploration and confirmation and definition of resources at the Mt. Todd project, potential development of the Paredones Amarillos project including anticipated investments to be made in the project, and timing for such investments, the performance of and results of the planned bankable feasibility study for the Paredones Amarillos Project, receipt of required environmental and other permits for the project, timing for starting and completion of drilling and testing programs, 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 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 the securities commissions in Canada. 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. (Amex: VGZ; TSX) announces that it is with regret that the Corporation's Board of Directors accepted the resignation of Robert A. Quartermain from the Board of Directors effective today. Mr. Quartermain cited pressing business requirements at Silver Standard Resources, Inc., where he is President and a director; as his reason for resigning; but announced that he will continue to assist the Corporation over the next 12 months as Special Advisor to the Board of Directors. On behalf of the Corporation, the Board of Directors expressed its appreciation for the services rendered to the Corporation by Mr. Quartermain during his tenure on the Board.

As a new independent director, the Board approved the appointment of Tracy A. Stevenson to the Board of Directors. Mr. Stevenson is a senior mining executive who worked for Rio Tinto plc and related companies for 26 years where he served in senior positions in information technology, finance, planning and business development and has been involved with many major exploration, development, and financing projects. Mr. Stevenson has served as Global Head of Information and Technology and Global Head of Business Process Improvement for Rio Tinto plc, Senior Vice President Finance and Control at Kennecott Corporation, and Executive Vice President Financial Services and Strategy at Comalco Limited. Mr. Stevenson holds a B.Sc. Accounting from the University of Utah, is a CPA and spent four years with a predecessor to the firm PriceWaterhouseCoopers LLP.

The Board also approved the appointment of Michael B. Richings (Chief Executive Officer) to the additional position of Executive Chairman of the Board of Directors, the appointment of Frederick H. Earnest (President and Chief Operating Officer) to the Board of Directors and the promotion of Kenneth W. Deter (Manager of Engineering and Metallurgy) to Vice President, Engineering and Metallurgy.

In other matters, the Board approved funding for the initial development of the Paredones Amarillos project in Mexico, such funding to include the purchase of items with long delivery times as they are identified. Vista completed a preliminary feasibility study in September 2005 (see Vista's press release of September 26, 2005), which was updated in June 2007 (see Vista's press release of June 21, 2007) to reflect 1st quarter 2007 cost parameters. As previously reported by Vista, the updated study indicated that the Paredones Amarillos project could be developed to produce an average of 113,000 ounces of gold per year for a 12.5 year production life at an average cash cost of US$358 per ounce with an initial investment of US$110 million. The project would consist of an open-pit mine with a flotation concentrator that would produce a concentrate from which gold would be recovered on-site. The study estimated the internal rate of return before taxes to be 12.5% at a gold price of US$550 per ounce. At gold prices of around US$650 per ounce, the return on investment before taxes is estimated at 23.8%. The Corporation is currently preparing a definitive feasibility study for the project reflecting an anticipated increased production rate to 130,000-150,000 ounces of gold per year. The Corporation plans to commence construction on the project in the second half of 2008.

The pre-feasibility study prepared in September 2005 is entitled "Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico" and dated September 23, 2005. The June 2007 update of the technical report is entitled "Updated Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico" and dated June 20, 2007. Mr. Neil Prenn, P. Eng. of Mine Development Associates of Reno, Nevada, an independent qualified person, prepared the technical reports referred to in this 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. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at current gold prices. Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 delays and occurrence of additional costs in connection with 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. 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.

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) announced today that it has selected the following consulting firms to assist in preparation of a definitive feasibility study for its Paredones Amarillos Project in Baja California, Mexico. Research Development Inc. of Lakewood, Colorado, is to complete the confirmatory metallurgical testing program and define the process flow sheet. Mine Development Associates of Reno, Nevada, is to update the mineral resource estimate, determine proven and probable reserves, prepare the mine plan and estimate the mine capital and operating costs. KD Engineering of Tucson, Arizona, will be responsible for processing engineering/design, infrastructure engineering/design and estimating the processing capital and operating costs. Golder Associates, Inc. of Tucson, Arizona, is to manage geotechnical investigations and test work, provide guidance for the design of structural foundations, determine the most suitable method for disposal of the barren mill flotation tailings with the mine waste rock and design the tailings storage facility including preparing the associated capital and operating cost estimates. SRK Consulting (US), Inc. ("SRK") will be responsible for the pit slope stability determinations and has been retained to determine the optimum source of water for the project including the use of municipal waste water and desalinized or partially desalinized sea water. As previously announced (see press release of August 13, 2007), SRK was engaged to manage the preparation of the definitive feasibility study as well as undertake an economic analysis of the project and compile the final report.

As also mentioned in the August 13 press release, Corporacion Ambiental de Mexico, S.A. de C.V. ("CAM") has been retained to manage the environmental permitting activities for the project. CAM is a full-service environmental firm headquartered in Mexico City with experience in mining project permitting in Baja California. CAM recently reported to Vista that the environmental and change of land use permits issued to Echo Bay Mines when it held the project are still valid. The Corporation has presented all of the studies and permitting documents for its proposed metallurgical core drilling program and anticipates that it will receive the required permits. When the permits are received, Vista plans to expedite the start of drilling and the related confirmatory metallurgical test program, which is expected to be completed in the first quarter of 2008.

Fred Earnest, President and COO commented, "Vista is pleased to have this team of consultants selected for the preparation of the Paredones Amarillos Definitive Feasibility Study. Each company selected to participate in this study has demonstrated strength in their area of expertise. We believe that the combined experience of this team of consultants will result in a quality feasibility study."

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. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at current gold prices. Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 performance of and results of the planned bankable feasibility study for the Paredones Amarillos Project, receipt of required environmental and other permits for the project, timing for starting and completion of drilling and testing programs, 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 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 the securities commissions in Canada. 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. (Amex: VGZ; TSX: VGZ) announced today that it has received four exploration licenses ("ELs") covering about 110,633 hectares primarily to the north- northeast of Vista's Mt. Todd gold mine in the Northern Territory, Australia. The ELs had been held in reserve status by the Northern Territory government prior to Vista acquiring the project. Vista's management believes exploration potential for gold and other minerals on these licenses to be good, and a program to systematically evaluate the mineral potential of this land is underway. Earlier work by past operators has identified Mt. Todd-type low- grade mineralization in a zone trending north-northeast of Mt. Todd and scattered prospects throughout the area covered by the ELs. Additionally, historical drill results indicate the presence of vein-type high-grade intercepts at various locations in the area covered by the ELs.

Vista has received initial gold assays for all of the 19 core drill holes completed at Mt. Todd earlier this year. Results for the first six core drill holes (one of which was abandoned due to difficult drilling conditions) were issued in Vista's press release dated May 30, 2007. Check assaying and assaying for other metals, including copper, is ongoing. The objectives of the program are to obtain information that supports the conversion of inferred gold resources to measured and indicated resources, to explore for additional resources on strike and down dip, to aid in the determination of the copper content of the deposit and to obtain samples for metallurgical testing.

The drilling program began February 1, 2007, and concluded on June 6, 2007, with 25 holes completed (including the one hole abandoned) for 9,883 meters of drilling, under the overall supervision of Robert Perry, CPG, Vista's Vice President of Exploration. Mr. Perry is a qualified person for the purposes of Canadian National Instrument 43-101. The drill holes covered an area of 1,600 meters by 300 meters. Drill hole spacing of the holes drilled in this program varied from 30 to 300 meters, but spacing between these holes and holes drilled by previous operators was less than 50 meters. The core drilling was done by Titeline Drilling PL of Australia, and the assaying for gold is being done by Northern Australian Labs in Pine Creek, Northern Territory, Australia, with check assaying by ALS Chemex of Australia. ALS Chemex of Australia and NT Environmental Laboratories Pty. Ltd. of Darwin, Northern Territory, Australia are doing multi-element analyses including copper. All holes were angle holes drilled to intersect mineralization at close to right angles; however, due to physical constraints and the complex nature of the deposit, true thickness of the drilled intervals cannot be assumed from the measured intercepts. Sampling and assaying methods are being conducted in accordance with the CIM Mineral Exploration Best Practices Guidelines. All samples taken were nominally one meter in length.

The initial gold assays for holes not previously reported in Vista's May 30, 2007, press release include the following highlights:

  Drill Hole     Interval  Intercept  Assay    Including  Intercept  Assay
                   (m)        (m)     (g/t)       (m)        (m)     (g/t)
  VB07-007        98-107       9      1.16
                 144-151       7      1.40
                 171-178       7      1.14
               187-195.9     8.9      3.16
                 225-328     103      1.38       227-230      3       6.72
                                                 243-246      3       4.81
                                                 309-316      7       2.22
  VB07-008       17.3-20     2.7      1.89
                 39.3-44     4.7      1.27
                   53-56       3      1.32
                   92-95       3      1.37
                 158-175      17      1.68
               191.8-210    18.2      2.08
                 251-254       3      2.16
               302.9-316    13.1      2.23
                 344-348       4      2.64
                 369-373       4      1.93
                 386-407      21      3.36     398-399.2    1.2      32.17
                 514-420       5      1.32
                 431-471      40      2.62   436.9-441.1    4.2       3.38
                                               451-455.1    4.1       2.97
                                                 467-468      1      47.67
                 483-487       4      1.63
  VB07-009         11-14       3      1.63
                 127-134       7      1.38
                 195-205      10      1.18
                 216-218       2      5.75
                 245-332      87      1.21
                 358-390      32      1.40
               408.9-412     3.1      4.72
  VB07-010         71-75       4      2.14
                   82-85       3      3.95
                 122-125       3      1.33
                 208-211       3      2.44
                 230-233       3      1.09
                 241-244       3      1.62
                 295-300       5      1.91
                 313-437     124      2.26       358-366      8       10.1
                                                 386-389      3       7.79
  VB07-012         10-13       3      1.69
                 160-167       7      1.24
                 200-203       3      1.63
                 218-221       3      1.16
  VB07-013       202-209       7      1.19
                 316-340      24      1.28
                 372-381       9      1.09
  VB07-014         19-24       5      1.32
                   81-85       4      2.26
                 109-113       4      1.16
                 125-136      11      1.97
               170.7-174     3.3      1.49
                 355-362       7      1.45
                 401-413      12      2.08
                 429-433       4      2.26
                 439-444       5      1.15
                 451-456       5      3.68
               500.1-504     3.9      2.12
                 513-526      13       2.2
  VB07-015       22-57.2    35.2      1.68       52-57.2    5.2       4.83
                  71-275     204      1.91       132-136      4       9.46
                                               225.9-229    3.1       7.63
                                               257-257.9    0.9      32.23
  VB07-016     259.9-266     6.1      2.02
                 290-295       5      1.04
  VB07-017       110-113       3      2.04
                 126-130       4      1.57
                 219-223       4      3.24
                 282-293      11      2.96
                 301-324      23      1.27
                 331-337       6      1.09
               375-378.3     3.3      1.69
  VB07-018       173-180       7      1.08
                 194-198       4      1.37
                 211-216       5      1.08
               245-382.1   137.1      2.27       256-264      8       6.74
                                                 289-295      6       4.29
                                                 327-335      8       3.89
                                                 352-355      3       7.68
                                               379-382.1    3.1       8.97
               404-408.1     4.1      1.45
               415.9-429    13.1      1.58
               474-483.9     9.9       1.7
  VB07-019       125-129       4      2.16
  VB07-020        96-100       4      1.07
                 173-176       3      1.19
                 188-191       3      2.01
  VB07-021         39-74      35      1.57
                  98-108      10      1.64
                 200-233      33      2.72       208-216      8       7.00
                 249-260      11      1.16
                 272-306      34      1.24
  VB07-022         65-72       7      2.83
                  81-108      27      2.30         81-85      4       7.67
                 200-203       3      3.19
                 254-260       6      1.01
                 413-417       4      3.27
                 450-456       6      2.05
                 482-485       3      6.62
  VB07-023         69-72       3      2.13
                   79-86       7      1.14
                 187-191       4      1.48
  VB07-024       275-279       4      1.74
  VB07-025         26-31       5      3.04
                 109-120      11      1.17
                 127-130       3      1.21
                 223-238      15      1.58
                 359-363       4      1.57

The data, including sampling and assaying, has been verified by Mr. Perry by inspection of computer assay data print outs and visual inspection of drill core for purposes of this news release.

A description of the geology, mineralization and other information on the project can be found in the report "Preliminary Economic Assessment Mt. Todd Gold Project, Northern Territory, Australia" dated December 29, 2006, which has been filed on SEDAR by Vista.

Metallurgical samples have been selected from the new core samples and sent to Resource Development, Inc. of Wheat Ridge, Colorado, for additional metallurgical test work, which Vista expects to be completed later this year. Vista plans to use the results from the metallurgical testing and a new resource estimate resulting from the current drilling program to generate a preliminary feasibility study towards the end of this year.

Fred Earnest, President and COO of Vista stated, "The results of the 2007 drilling program are very encouraging, and all the intercepts are within the depth reached in the preliminary open pit design in the Preliminary Economic Assessment. The recent drill results contain long intervals of mineralization including hole VB07-015 that contains an intercept of over 200 meters containing 1.91 g/t gold. We plan to use the results of this drill program together with other historic information we have obtained to prepare a new resource estimate later this year."

On a separate topic, Vista notes that some Canadian-based mining companies have recently reported exposure to cash positions invested in Asset-Backed Commercial Paper ("ABCP") programs. Vista has approximately US$ 18 million in cash and cash equivalents, all of which are held in high-grade money market funds in Vista's bank accounts at a major U.S. bank. Vista has been informed by its bank that these money market funds do not directly invest in sub-prime or investment-grade domestic mortgages or single-seller ABCP programs from either prime or sub-prime mortgage originators and that all holdings of its money market funds present minimal credit risk. All of Vista's cash and cash equivalents are invested in products carrying the highest possible investment grade as determined by leading rating agencies.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of proven gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at current gold prices. Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 drilling programs and prospects for exploration and conversion of resources at the Mt. Todd project, the performance of and results of feasibility studies, Vista's future business strategy, competitive strengths, goals, operations, plans, potential project development, future share price and valuation, future gold prices, credit status and liquidity of Vista's cash and cash-equivalent investments, 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 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. 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 www.vistagold.com

SOURCE: Vista Gold Corp

CONTACT: Connie Martinez, +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today that it has engaged SRK Consulting (US), Inc. to manage the preparation of a bankable feasibility study for its Paredones Amarillos Project in Baja California, Mexico. SRK is engaged to define the scope of work for the various consultants' studies, review and audit their work, undertake an economic analysis of the project, and compile and edit the final report. Fred Earnest, President and COO commented, "We believe that SRK's role in coordinating and reviewing the work of other qualified consultants will allow us to capitalize on the collective experience of many respected experts and will result in a quality feasibility study. We are pleased to have a company with SRK's technical expertise on our team."

In other news related to the Paredones Amarillos Project, Vista announced that Arturo Montano Munguia has been named as the Project Development Manager for the Paredones Amarillos Project. Mr. Montano is a Mexican national with over 30 years of mining industry experience with North American and Mexican mining companies. Mr. Earnest noted, "In the short time that Arturo has been part of our team, he has quickly assessed the current project status and begun laying the foundation for the execution of our development strategy for the Paredones Amarillos Project." Under Mr. Montano's direction, Vista has retained Corporacion Ambiental de Mexico, S.A. de C.V. ("CAM") to manage the environmental permitting activities for the Paredones Amarillos Project. CAM is a full-service environmental firm headquartered in Mexico City with experience in mining project permitting in Baja California.

Mike Richings, CEO of Vista stated that, "We believe these are key first steps taken by Vista toward the development of the Paredones Amarillos Project. During the coming months we plan to award contracts for detailed mine planning, process design, tailings impoundment design and other studies related to the feasibility design and evaluation process."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of proven gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at current gold prices. Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 performance of and results of the planned bankable feasibility study for 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 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. 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/

Vista Gold Corp. (Amex: VGZ; TSX) announced today its financial results for the quarter and six months ended June 30, 2007, as filed on August 9, 2007, with the US Securities and Exchange Commission and the relevant securities commissions in Canada in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended June 30, 2007, of US$3.2 million or US$0.10 per share compared to a consolidated net loss of US$0.9 million or US$0.04 per share for the same period in 2006. The Corporation's consolidated net loss for the six-month period ended June 30, 2007, was US$4.0 million or US$0.13 per share compared to a consolidated net loss of US$2.0 million or US$0.09 per share for the same period in 2006. The increased losses for the three-month and six-month periods compared to the respective prior-year periods of US$2.3 million and US$2.0 million, are primarily the result of one-time costs of US$2.4 million related to the completion, on May 10, 2007, of the previously announced Arrangement involving the Corporation, Allied Nevada Gold Corp. and Carl and Janet Pescio. The transaction resulted in the acquisition by Allied Nevada of the Corporation's Nevada properties and the Nevada mineral assets of Carl and Janet Pescio.

Upon completion of the Arrangement on May 10, 2007, the Corporation transferred its Nevada properties, and US$25.0 million in cash net of US$0.6 million in loan repayments, Allied Nevada in return for 26,933,055 shares of Allied Nevada common stock. Also, pursuant to the Arrangement, the Corporation's shareholders exchanged each of their Vista Gold Corp. common shares and received, subject to applicable withholding taxes: (a) one new share of Vista Gold Corp., (b) 0.794 of a share of Allied Nevada common stock, and (c) any payment they are entitled to receive in lieu of a fractional share of Allied Nevada. Of the 26,933,055 Allied Nevada shares issued to the Corporation, 25,403,207 shares were distributed to the Corporation's shareholders, less any applicable withholding taxes, and the Corporation retained 1,529,848 shares to facilitate the payment of any taxes payable by it in respect to the Arrangement. Holders of Vista Gold Corp. options exchanged their options for options to acquire Allied Nevada shares and options to acquire newly created Vista Gold Corp. shares, and holders of the Corporation's warrants had their warrants adjusted in accordance with the terms of the warrants.

At June 30, 2007, the Corporation's total assets were US$53.9 million compared to US$92.7 million at December 31, 2006, representing a decrease of US$38.8 million. The decrease of US$38.8 million was primarily due to US$43.1 million of assets transferred from the Corporation to Allied Nevada upon completion of the Arrangement. The US$43.1 million included cash of US$24.4 million (being the above US$25 million net of the US$0.6 million loan repayment) and other assets of US$18.7 million, offset by an increase in marketable securities of US$7.0 million which primarily reflects the fair market value of the 1,529,848 shares of Allied Nevada retained by the Corporation to facilitate payment of any taxes payable in respect to the Arrangement.

At June 30, 2007, the Corporation had working capital of US$27.5 million compared to US$49.7 million at December 31, 2006, representing a decrease of US$22.2 million. The principal component of working capital at both June 30, 2007, and December 31, 2006, is cash and cash equivalents of US$19.0 million and US$48.7 million, respectively. At June 30, 2007, we had no outstanding debt to banks or financial institutions.

Net cash used in operations was US$1,768,000 for the three-month period ended June 30, 2007, compared to US$1,105,000 for the same period in 2006. Cash used in operations was US$2,966,000 for the six-month period ended June 30, 2007, compared to US$2,146,000 for the same period in 2006.

Net cash used for investing activities increased to US$26.3 million for the three-month period ended June 30, 2007, compared to US$0.8 million for the same period in 2006. The increase of US$25.5 million mostly reflects the net US$24.4 million cash transferred to Allied Nevada Gold Corp in connection with the closing of the Arrangement. Net cash used for investing activities increased to US$28.3 million for the six-month period ended June 30, 2007, from US$2.3 million for the same period in 2006. The increase of US$26.0 million is mostly the result of the completion of the Arrangement as noted above.

Net cash provided by financing activities decreased to US$250,000 for the three-month period ended June 30, 2007, from US$19.8 million for the same period in 2006. Net cash provided by financing activities decreased to US$1.5 million for the six-month period ended June 30, 2007, from US$25.3 million for the same period in 2006. Warrants exercised during the three-month period ended June 30, 2007 produced cash proceeds of US$250,000 as compared to US$19.7 million for the same period in 2006. Warrants exercised during the six-month period ended June 30, 2007 produced cash proceeds of US$1.5 million as compared to US$24.8 million for the same period in 2006. For the both three and six-month periods, the decreases relate to the acceleration of the February 2003 warrants and the September 2004 warrants in May 2006. There were no accelerations of warrants during 2007.

The selected financial data including the results of operations for the three-month and six-month periods ended June 30, 2007 compared to 2006, and the financial positions as at June 30, 2007 compared to December 31, 2006, is summarized in the following table:

  Selected Financial Data            Three Months Ended    Six Months Ended
                                           June 30,             June 30,
                                        2007     2006       2007      2006
  U.S. $000's, except loss per share

  Results of operations
  Net loss                            $(3,228)    $(926)  $(4,004)  $(2,034)
  Basic and diluted loss per share      (0.10)    (0.04)    (0.13)    (0.09)

  Net cash used in operations          (1,768)   (1,105)   (2,966)   (2,146)
  Net cash used in investing
   activities                         (26,290)     (830)  (28,287)   (2,279)
  Net cash provided by financing
   activities                             250    19,834     1,512    25,290

  Financial position                  June 30, December 31,
                                        2007      2006

  Current assets                      $27,904   $50,430
  Total assets                         53,908    92,731
  Current liabilities                     415       732
  Total liabilities                       440     5,604
  Shareholders' equity                 53,468    87,127

  Working capital                      27,489    49,698



  About Vista Gold Corp.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 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 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. 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. (Amex: VGZ; TSX) is pleased to announce the promotion of Mr. Frederick H. Earnest to President and Chief Operating Officer effective August 1, 2007. Mr. Earnest and Gregory G. Marlier, Chief Financial Officer, will continue reporting to Mike Richings, Chief Executive Officer. Mr. Richings, who prior to the promotion of Mr. Earnest, also held the title of President, will focus his efforts on corporate planning and strategy. Mr. Earnest joined Vista in September 2006 as Senior Vice President, Project Development, and has over 20 years previous experience in the mining industry, including the management of the development and operation of gold mines. The management change reflects Vista's increasing emphasis on the development of its most advanced gold projects: Paredones Amarillos, Mt. Todd and Yellow Pine.

Mike Richings, Vista CEO, commented, "Since joining Vista, Fred has demonstrated excellent management and executive skills, appropriate to his new position. The increasing management demands of developing three major projects necessitate the change and will allow me to focus on potential growth and value-adding opportunities for the Corporation."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 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 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. 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.'s (TSX & Amex: VGZ) President and CEO Michael Richings explains Vista's strategy and future plans:

"Vista recently announced (May 10, 2007) the completion of a transaction that resulted in the launch of a new publicly owned company, Allied Nevada Gold Corp. Since completion of this transaction, Vista's share price has been quite volatile and has generally traded in a price range lower than what we and our advisors had expected. Based on calls we have received and conversations I have had with investors, I am concerned that there may be some confusion concerning Vista, its assets and its strategy. I therefore wish to clarify our plans and strategy and to confirm that Vista intends to continue to provide value and leverage to the gold investor.

First, a little background on our strategy: in 2002, we started acquiring already discovered gold deposits and by 2006 we had under our control 13 projects, with substantial gold resources. The 11 project acquisitions made during this period were, in our view, at a very low cost, and our plan was to hold these in anticipation of higher gold prices. This strategy worked well and as the gold price increased, we added significant value to the Corporation which was reflected in a strong share price. However, we felt we could do better.

In early 2006, we took steps to place our Nevada assets into a new Nevada-based mining company -- Allied Nevada, which we felt would cause these assets to be more highly valued. At the same time, we had an opportunity to acquire one of the largest privately held packages of mining property interests in Nevada. We felt the combination of our assets, the new assets and an experienced management and board, would generate increased returns for our shareholders. When the transaction was completed, approximately 65% of the shares of Allied Nevada were distributed to Vista shareholders, approximately 4% of the Allied Nevada shares were retained by Vista, and approximately 31% of the Allied Nevada shares were paid as partial payment to the vendors of the property interests. Allied Nevada is well financed and managed, and its early trading has been consistent with our estimate of value. We anticipate significant returns for our shareholders who received Allied Nevada shares, as its resources are explored and developed.

In the almost 12 months it took us to complete the Allied Nevada transaction, the gold price has traded consistently over $600 per ounce and it has become evident to us that the leverage to gold price we had earlier achieved by holding the resources in the ground is no longer as high as it was. Furthermore, higher gold prices and increased competition make it more difficult to add value by the acquisition of quality resources at accretive prices. We have therefore modified our strategic plan.

Vista now holds seven gold properties (please see our website for a tabulation of properties, resources and reserves) and the mineral deposits on these properties are well defined, with approximately 71% of the estimated gold resources categorized as measured and indicated. Three of these are advanced and either preliminary feasibility studies (Paredones Amarillos) or preliminary assessments (Mt. Todd and Yellow Pine) have been completed. Based on the recently completed studies and evaluations for Paredones Amarillos, Mt. Todd and Yellow Pine (published on SEDAR and our website), we believe these projects are potentially economic to develop at current gold prices. We have therefore modified our plans to implement a staged development plan of these three advanced projects, which will include studies that will seek to eliminate economic and technical uncertainties about the development of these mines. We will continue to hold the remaining properties for higher gold prices and continue to seek the acquisition of new resources as opportunities arise.

One of the more important goals in implementing this strategic plan is to significantly reduce the uncertainties associated with these projects, in the anticipation that the reduction of these uncertainties will be reflected positively in our share price. Each of Vista's projects has the benefit of significant historic expenditures made by other companies on testing, engineering and evaluation, which information and experience Vista acquired along with the properties for, what we believe were, very modest investments. The most advanced project is the Paredones Amarillos in Mexico and we plan to advance this project so that in 2008 we can make the decision to construct and build the mine. If we decide to proceed with development and operation of all three of our advanced projects and assuming a favorable gold price, Vista could be a mid-size producer in the next five years.

Vista's management team has demonstrated over the past five years the ability to undertake, negotiate and complete a variety of transactions designed to add value for Vista's shareholders. In particular, the creation of Allied Nevada has provided Vista shareholders with excellent exposure to a well-run Nevada based mining company. The team will continue to seek out opportunities to generate increased shareholder value going forward."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have demonstrated that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 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 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. 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. (Amex: VGZ; TSX: VGZ) ("Vista") is pleased to announce the results of an updated pre-feasibility study for the Paredones Amarillos gold project in Baja California Sur, Mexico. Vista undertook this study to confirm favorable project economics in light of the severe cost inflation which has occurred in the mining sector over the past few years, and in anticipation of making more significant expenditures on the project in 2007. The pre-feasibility study was originally completed for Vista on September 26, 2005, by Mine Development Associates (MDA) of Reno, Nevada, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines, under the supervision of Mr. Neil Prenn, P. Eng., a qualified person, as previously disclosed by Vista in a press release dated September 26, 2005. MDA was assisted in the study by Resource Development Incorporated (RDi) of Wheat Ridge, Colorado, in metallurgical testing, process redesign, and processing cost estimation, and by WLR Consulting (WLR) of Lakewood, Colorado, in mine design. The pre-feasibility study technical report entitled "Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico" dated September 23, 2005, is available on SEDAR. The current pre-feasibility study prepared for Vista reflects mid-2007 costs and economic parameters and was completed on June 20, 2007, under the direction of Mr. Prenn, P. Eng. of MDA, with assistance from RDi.

Proven and probable mineral reserves, as reported in the September 26, 2005, press release, were determined in 2005 within a proposed open pit mine, which was designed employing a Lerchs-Grossmann optimization technique based on U.S. $400 per ounce gold price and costs prevailing in 2005. The updated study concluded that the mineral reserves are appropriate as the effects of cost inflation are more than offset by higher gold prices. The results, which have not been modified since 2005, are summarized in the following table.

              Paredones Amarillos Mineral Reserve Estimate*
                  (0.38 g/t gold internal cutoff grade)

  Classification            Gold Grade               Waste
                  Tonnes  (Fire Assay   Contained   Tonnes   Strip Ratio
                 (000's)      g/t)     Gold Ounces  (000's)  (Waste: Ore)
  Proven(1)       11,699     1.11        419,000      -NA-        -NA-
  Probable(1)     37,247     0.97      1,158,000      -NA-        -NA-
  Totals(1)       48,946     1.00      1,577,000    170,292      3.48


  * No dilution factor was applied to the mineral reserves estimated from
    the block model and a 100% resource recovery factor was used.

  (1) Cautionary Note to U.S. Investors concerning estimates of Proven and
      Probable Reserves: The estimates of mineral reserves shown in this
      table have been prepared in accordance with Canadian National
      Instrument 43-101 ("NI 43-101").  The definitions of proven and
      probable reserves used in NI 43-101 differ from the definitions in
      U.S. Securities and Exchange Commission Industry Guide 7.
      Accordingly, Vista's disclosure of mineral reserves herein may not be
      comparable to information from U.S. companies subject to the reporting
      and disclosure requirements of the U.S. Securities and Exchange
      Commission.

The current updated study and the study in 2005 examined the technical and economic feasibility of developing the mineral reserve. Two alternatives were studied, a base case and an alternative with a shorter life but generating a higher return on investment. Both projects would employ an 11,000 tonne/day flotation/leach plant.

The base case would produce an average production of 113,000 ounces per year over a 12.5 year production life, at an average production cost of U.S. $10.39 per tonne or U.S. $358 per ounce. The pre-production capital costs are estimated to be U.S. $110 million and at a U.S. $550 per ounce gold price, the return on investment is estimated at 12.5%. At current gold prices of around U.S. $650 per ounce, the return on investment is estimated at 23.8% and net cash flow generated is estimated at U.S. $284 million on a pre-tax basis. The study also indicated the net cash flow on a pre-tax basis could increase by U.S. $55.5 million with an increase in gold price of U.S. $50 per ounce.

The alternative case which considered the development of a subset of the reserves (34.1 million tonnes compared to the total reserve of 48.9 million tonnes) would produce an average production of 117,000 ounces per year over a 9.5 year production life. The pre-production capital costs are estimated to be U.S. $108 million and production costs estimated to be U.S. $334 per ounce and the project would generate an estimated 17.4% return on investment at a gold price of U.S. $550 per ounce. At current prices of around U.S. $650 per ounce of gold, the return is estimated at 31.1% and the net cash flow generated is estimated at U.S. $236 million on a pre-tax basis.

No known environmental, permitting, legal, title, taxation, socio-economic, marketing, political or other issues are expected to materially affect the mineral resource and mineral reserve estimates.

Mike Richings, President and CEO, commented, "While costs have increased in the two years since the original study was prepared, these increases have been more than offset by the gold price increase. We believe that the results of the study are clearly favorable and give us the necessary encouragement to continue our investments on the project to complete a bankable feasibility study over the next 12 months."

Richings continued, "The potential pre-tax net cash flow generated by this project is significant at current gold prices. The implied potential value at Paredones Amarillos, together with the value of Vista's other projects including Mt. Todd and Yellow Pine, and considering other factors, would appear to support our goal of achieving a higher share price for VGZ."

The resource model used to estimate the mineral reserves was originally reported by Vista in a press release dated August 29, 2002, based on an independent technical report entitled "Technical Report for the Paredones Amarillos Project" dated August 20, 2002, prepared by Snowden Mining Industry Consultants of Vancouver, British Columbia, in compliance with Canadian National Instrument 43-101. In connection with the pre-feasibility study and the updated pre-feasibility study, Mr. Prenn, P. Eng. of MDA is of the opinion that it is reasonable to rely on this resource model for the purposes of the mineral resource and mineral reserve estimates. The mineral resources have been estimated using a three-dimensional block model and ordinary kriging. No additional drilling or sampling has occurred in the resource area since the mineral resource estimate was first completed in August of 2002. The mineral resource estimate above a 0.5 grams gold per tonne cut-off at the Paredones Amarillos Project is summarized below:

   Paredones Amarillos Measured and Indicated Mineral Resource Estimate
                           (0.5 g/t gold cutoff)

  Classification            Tonnes       Gold Grade         Contained
                           (000's)     (Fire Assay g/t)    Gold Ounces
  Measured resources(1)     11,498         1.17               431,000
  Indicated resources(1)    44,170         1.02             1,451,000
  Total measured and
   indicated
   resources(1)(2)          55,668         1.05             1,882,000


  (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.
      Mineral resources that are not "mineral reserves" do not have
      demonstrated economic viability.

  (2) Mineral reserves are included in this mineral resource estimate.



          Paredones Amarillos Inferred Mineral Resource Estimate
                           (0.5 g/t gold cutoff)

  Classification            Tonnes       Gold Grade         Contained
                           (000's)     (Fire Assay g/t)    Gold Ounces
  Inferred resources(1)     5,495           0.79             140,000


  (1) 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 feasibility or prefeasibility
      studies. U.S. investors are cautioned not to assume that any part or
      all of an inferred resource exists or is economically or legally
      mineable.

Mr. Prenn, P. Eng. of MDA, an independent qualified person supervised the preparation of the technical information in this press release.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary economic evaluations with encouraging results on some of the projects at today's gold prices, and these projects warrant further study. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 future business strategy, competitive strengths, goals, operations, plans 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 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. 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 Mike Richings or 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: Mike Richings or Connie Martinez, +1-720-981-1185, both for
Vista Gold Corp.

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

Vista Gold Corp. (Amex: VGZ; TSX: VGZ) is pleased to announce that, following the completion of drilling in late 2006, a new mineral resource analysis for the Awak Mas deposit on South Sulawesi Island, Indonesia, was completed on June 6, 2007, by Gustavson Associates, LLC of Boulder, Colorado, in accordance with Canadian National Instrument 43-101 standards under the direction of Mr. John Rozelle, an independent Qualified Person, utilizing standard industry software and resource estimation methodology. Based on the resource analysis report, the gold resources for the Awak Mas deposit, reported at a cutoff grade of 0.5 grams of gold per tonne are:

                                            Grade
                              Tonnes      (grams per       Contained
                              (000s)        tonne)        Gold 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.

                                            Grade
                              Tonnes      (grams per       Contained
                              (000s)        tonne)        Gold Ounces

  Inferred resources (2)      20,425         0.82           539,000

(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 minable.

The resource model for the Awak Mas deposit and the resource analysis report include the results of 97,426 meters in 803 drill holes (645 core and 158 reverse circulation drill holes), predominantly on nominal 50 meters by 50 meters drill spacing with infill to nominal 25 meters by 25 meters on two limited areas of the deposit, the Mapacing and Rante areas done by Battle Mountain Gold Company, Masmindo Mining Corporation, and Placer Dome Inc., and, in late 2006 by Vista. Assaying was done on nominally one-meter samples by Analabs and successors in name in Jakarta and the Intertek Caleb Brett Laboratory in Jakarta with Analabs using a 50-gram sample and Intertek a 100-gram sample for fire assaying with atomic absorption spectrophotometry finish. By reviewing the sampling and assaying procedures utilized for the different drilling programs, Gustavson and previous independent consultants verified that the procedures were consistent with industry standard practices. An independent check sampling and assaying program was done by a previous independent consultant and results were found to be acceptable. Battle Mountain Gold, Masmindo Mining and Vista all had duplicate and check assaying programs in place which were reviewed by Gustavson and previous consultants and found that the assaying quality control procedures met industry standard practices.

The Awak Mas deposit is situated on the southern side of the Central Sulawesi Metamorphic Belt within a 50 kilometer long, north-northeast trending fault-bounded block of basement metamorphic rocks and younger sediments. The deposit area is dominated by the late Cretaceous Latimojong Formation, consisting of phyllites, slates, basic to intermediate volcanics, limestone and schist representing a platform and/or fore arc trough flysch sequence, which has been intruded by late-stage plugs and stocks of diorite, monzonite and syenite. Gold mineralization is predominantly hosted within the flysch sequence, which typically dips between 15° and 50°, generally towards the north. Gold is associated with sulfur-poor, sodic-rich fluids introduced at a relatively late stage in the tectonic history. Most gold mineralization is associated with abundant quartz veining and silica-albite-pyrite alteration; however, the association of gold and quartz is not ubiquitous, with some vein zones appearing to be locally barren of mineralization. Gold mineralization is distinctly mesothermal in character, atypical of the more ubiquitous low temperature or epithermal precious metal mineralization within many island arc environments in Indonesia.

In general, the Awak Mas deposit is comprised of a series of five principal zones: the Upper and Lower Rante, Lematik, Ongan, and Mapacing that are both adjacent to and slightly overlap each other. The Upper Rante is approximately 440 meters wide by 775 meters long and 390 meters vertically. The Lower Rante is approximately 820 meters wide by 630 meters long and 400 meters vertically. The Ongan is approximately 380 meters wide by 540 meters long and 270 meters vertically. The Lematik is approximately 560 meters wide by 750 meters long and 420 meters vertically. The Mapacing is approximately 290 meters wide by 680 meters long and 220 meters vertically. Two main styles of mineralization are present. The first represents broad, shallow-dipping zones of sheeted and stockwork quartz veining and associated alteration that conform to the shear fabric, especially within the dark, graphitic mudstones. The other style consists of steeper dipping zones of quartz veining and breccias associated with high-angle faults cutting both the flyschoid cover sequence and basement metamorphics. Late-stage, north-northeast trending normal faults locally disrupt or offset mineralization. A surface layer of consolidated scree and colluvium averaging 3-4 meters (maximum 15 meters) in thickness veneers the deposit.

Vista has retained Gustavson to undertake a Canadian National Instrument 43-101 preliminary assessment of a potential development of the deposit using the results of the resource analysis contained in the current report and other technical information. Considerable historic technical work regarding metallurgy, process flow sheet, plant design and infrastructure has been previously completed and Vista has made this information available to Gustavson. In addition, Gustavson will undertake new preliminary mining plans and utilize, where appropriate, other consultants to generate new information or update the older work.

Mike Richings, Vista's President and CEO, commented, "Our recent drilling program and reinterpretation of the ore zones has resulted in an improved understanding of the deposit and a significantly higher deposit grade compared to our earlier estimate, as previously reported. The measured and indicated resources are currently estimated to be 15% higher grade than the earlier estimate at the same cut-off grade. This means that capital and operating costs will be proportionately lower and the overall project economics will be improved. We are embarking on a preliminary assessment to gain an understanding of the overall project economics at current gold prices and to provide direction for a bankable feasibility study. We are committed to advancing our most attractive projects to a production decision and also to completing technical and economic evaluations on all projects so that shareholders and potential investors can appreciate the value of our projects at current gold prices and the sensitivity of these to changes in gold prices." The earlier estimate referred to by Mr. Richings was reported by the Corporation in press releases dated; November 2, 2004; April 18, 2005; and September 20, 2006.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have confirmed that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 future business strategy, competitive strengths, goals, operations, plans 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 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. 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 Greg Marlier 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: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") is pleased to announce initial results from a drill program underway at its Mt. Todd project in the Northern Territory, Australia. The Corporation is conducting a diamond core drilling program totalling approximately 10,000 meters in 26 holes. The objectives of the program are to obtain information that supports the conversion of inferred gold resources to measured and indicated resources, to explore for additional resources on strike and down dip, to aid in the determination of the copper content of the deposit and to obtain samples for metallurgical testing.

The drilling program began February 1, 2007, and is continuing under the overall supervision of Robert Perry, CPG, Vista's Vice President of Exploration. Mr. Perry is a qualified person for the purposes of Canadian National Instrument 43-101. The core drilling is being completed by Titeline Drilling PL of Australia, and the assaying for gold is being done by Northern Australian Labs in Pine Creek, Northern Territory, Australia, with check assaying by ALS Chemex of Alice Springs, Northern Territory, Australia. Multi-element analyses, including copper, are being done by ALS Chemex of Alice Springs and NT Environmental Laboratories Pty. Ltd. of Darwin, Northern Territory, Australia. All holes were angle holes drilled to intersect mineralization at close to right angles; however, due to physical constraints and the complex nature of the deposit, true thickness of the drilled intervals cannot be assumed from the measured intercepts. Sampling and assaying methods are being conducted in accordance with the CIM Mineral Exploration Best Practices Guidelines. All samples taken were one meter in length.

At present, 24 holes have been completed with gold assays received for six holes drilled within the outline of the known mineralization. The assays include the following highlights:

   Drill      Interval  Intercept   Assay    Including  Intercept    Assay
   Hole         (m)        (m)      (g/t)       (m)       (m)        (g/t)

  VB07-001    205-377      172      1.66      251-266      19         2.56
                                              282-318      36         2.12
                                              322-343      21         2.74

  VB07-002    432-485       53      1.00

  VB07-003    Abandoned and re-drilled as VB07-005

  VB07-004    121-315      194      1.07      130-136       6         1.81
                                              191-202.9    11.9       3.76
                                              246-253       7         3.80
                                              283-290       7         2.26


  VB07-005     22-27         5      2.17
               94-98         4      2.30
              138-143        5      1.77
              150-156        6      1.17
              268-274        6      2.54
              302-327       25      2.72      313-318       5         7.36
              334-363       29      2.01

  VB07-006    157-162        5      2.68
              200-211       11      2.21
              246-264       18      2.92
              276-282        6      3.52
              378-420       42      1.45

  VB07-011    101-123       22      1.01
              190-197        7      2.85
              232-239        7      1.18

The data, including sampling and assaying, has been verified by Robert Perry, CPG, Vista's qualified person for purposes of this news release.

A description of the geology, mineralization and other information on the project can be found in the report "Preliminary Economic Assessment Mt. Todd Gold Project, Northern Territory, Australia" dated December 29, 2006, which has been filed on SEDAR by Vista.

Following the successful completion of the recent arrangement which included Vista's transfer of its Nevada assets into a new Nevada pure gold company, Allied Nevada Gold Corp. (AMEX: ANV) Toronto, and the distribution of approximately 66% of the shares of the new company to Vista shareholders, Vista will be focussing its efforts on developing its four most advanced projects. Three of these projects (Paredones Amarillos, Mt. Todd and Yellow Pine) have had preliminary Canadian National Instrument 43-101 studies completed. Information on the results of these studies has been released earlier and indicates the development and operation of these properties could be potentially profitable with current gold prices. Vista's management believes that developing the Paredones Amarillos, Mt. Todd and Yellow Pine projects to the point where production decisions can be made could result in an increase in the market valuation of the Corporation. These development programs will involve the preparation of bankable feasibility studies, permitting and other steps to eliminate uncertainties about the economic and technical feasibility of the projects. The most advanced project is Paredones Amarillos and Vista plans to advance this project to a production decision by the third quarter of 2008.

Mike Richings, President and CEO, commented, "We are pleased with the drill results at Mt. Todd so far; the early holes are designed to supply the information that will allow the conversion of inferred gold resources into measured and indicated gold resources. These holes will also generate samples that we can assay for copper, which was not determined in previous work on a consistent basis. We believe, based on preliminary test work, copper is pervasive throughout the deposit and Vista's preliminary evaluation determined that a copper concentrate could be separated through flotation, which would also contain about half of the gold. We recognized from the outset that the Mt. Todd ore because of its hardness and other metallurgical characteristics would be difficult to process and the potential production of a copper concentrate at a relatively coarse grind might offer a lower cost solution. With respect to our decision to proceed to develop our most advanced projects, this is a logical step. Our ability to increase our valuation through acquisition of new projects is limited at current gold prices. If we compare our valuation against similar sized companies with similar projects, we have observed that companies with projects actively under development and closer to a production decision are generally accorded greater values by the market. Thus we believe that by proceeding to develop the most advanced of our projects to production decisions, the result could be a higher valuation for the Corporation. We will continue to examine opportunities to add resources at

reasonable prices and to look for other opportunities to extract value from our portfolio for the benefit of our shareholders, but at current gold prices it makes sense for us to add value through developing our best projects."

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have confirmed that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 future business strategy, competitive strengths, goals, operations, plans 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 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. 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 Greg Marlier 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: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today that its board of directors determined that the fair market value of each share of Allied Nevada Gold Corp. ("Allied Nevada") on May 10, 2007, the effective date of the previously announced plan of arrangement involving Vista, Allied Nevada and Carl and Janet Pescio (the "Arrangement"), was U.S.$4.6265. Although, this determination will not be binding on the U.S. Internal Revenue Service or the Canada Revenue Agency, it was necessary to, among other things, determine whether a deemed dividend arose for Canadian tax purposes in respect of the Arrangement. In light of this determination, Vista has concluded that no deemed dividend arose for Canadian tax purposes in respect of the Arrangement. Consequently, the shares of Allied Nevada withheld from certain shareholders of Vista at the closing of the Arrangement to satisfy potential withholding tax obligations if a deemed dividend for Canadian tax purposes arose, will be distributed to shareholders from whom they were withheld as soon as practicable.

As previously indicated in the management information and proxy circular of Vista dated October 11, 2006 (the "Circular"), Vista agreed to provide this information to its shareholders after the effective date of the Arrangement. For more information on this and other tax implications of the Arrangement, securityholders should review the Circular and consult with their own tax advisors.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have confirmed that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's business, operations, plans 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, including anticipated consequences of the transaction described herein, 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 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; 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. 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 on Vista, please contact Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier 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 three months ended March 31, 2007, as filed on May 10, 2007, with the US Securities and Exchange Commission and with the relevant securities commissions in Canada in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended March 31, 2007, of US$776,000 or US$0.02 per share compared to a consolidated net loss of US$1,108,000 or US$0.05 per share for the same period in 2006. The decrease in the consolidated net loss of US$332,000 from the prior year is largely due to an increase in interest income of US$568,000 as well as increased gains on the disposal of marketable securities of US$163,000. These increases in income were partly offset by increases in exploration, property evaluation and holding costs of US$78,000, corporate administration and investor relations costs of US$216,000 and stock-based compensation costs of US$100,000.

Net cash used for operations was US$920,000 for the three-month period ended March 31, 2007, compared to US$1,041,000 for the same period in 2006. The decrease of US$121,000 is the result of an increase in cash used for accounts receivable of US$337,000, an increase in supplies inventory, prepaids and other of US$134,000 and an aggregate decrease of non-cash items of US$111,000, partially offset by a decrease in accounts payable and accrued liabilities of US$371,000 and a decrease in the consolidated net loss of US$332,000.

Net cash used for investing activities increased to US$2.0 million for the three-month period ended March 31, 2007, from US$1.4 million for the same period in 2006. The increase of US$0.6 million is primarily the result of an increase in the addition of mineral properties of US$1.4 million of which a significant portion is the result of the drilling program in progress at the Mt. Todd gold mine, which was acquired during 2006. This increase is partially offset by a decrease of US$1.0 million in acquisitions of mineral properties. This represents the funds that Vista Gold placed in escrow during the same period in 2006 in connection with the acquisition of the Mt. Todd gold mine, which was completed in June 2006. There were no comparable expenditures related to acquisitions during the 2007 period.

Net cash provided by financing activities decreased to US$1.0 million for the three-month period ended March 31, 2007, from US$5.5 million for the same period in 2006. Warrants exercised during the period ended March 31, 2007 produced cash proceeds of US$1.2 million as compared to US$2.0 million for the same period in 2006. Stock option exercises produced cash of US$17,000 during the period ended March 31, 2007 as compared to US$293,000 for the same period in 2006. In February 2006, we completed a private placement financing for net proceeds of US$3.21 million. There were no comparable transactions in the 2007 period. The increase of US$0.3 million for prepaid transaction costs for the period ended March 31, 2007 as compared to the same period in 2006 is due to costs incurred in connection with the proposed Arrangement transaction involving Vista Gold, Allied Nevada Gold Corp. and Carl and Janet Pescio, which closed on May 10, 2007 (see discussion below). With the completion of the Arrangement, these costs will offset any gain that we realize on the transaction.

At March 31, 2007, our total assets were US$94.0 million compared to US$92.7 million at December 31, 2006, representing an increase of US$1.3 million. At March 31, 2007, we had working capital of US$48.4 million compared to US$49.8 million at December 31, 2006, representing a decrease of US$1.4 million. This decrease relates to a decrease in cash balances from year end and an increase in liabilities.

The principal component of working capital at both March 31, 2007 and December 31, 2006, is cash and cash equivalents of US$46.8 million and US$48.7 million, respectively. Other components include supplies inventory, prepaids among other things (March 31, 2007 -- US$510,000; December 31, 2006 -- US$381,000), marketable securities (March 31, 2007 -- US$1,242,000; December 31, 2006 -- US$791,000) and other liquid assets (March 31, 2007 -- US$1,100,000; December 31, 2006 -- US$773,000). At March 31, 2007, we had no outstanding debt to banks or financial institutions.

The selected financial data including the results of operations for the three-month period ended March 31, 2007 compared to 2006, and the financial position as at March 31, 2007 compared to December 31, 2006 is summarized in the following table:

  Selected Financial Data                      Three Months Ended March 31,
                                                    2007          2006
  U.S. $000's, except loss per share

  Results of operations
  Net loss                                           $(776)      $ (1,108)
  Basic and diluted loss per share                   (0.02)         (0.05)

  Net cash used in operations                         (920)        (1,041)
  Net cash used in investing activities             (1,997)        (1,449)

  Net cash provided by financing activities            984          5,456


  Financial position                              March 31,    December 31,
                                                    2007           2006

  Current assets                                   $49,617        $50,643
  Total assets                                      94,006         92,731
  Current liabilities                                1,168            893
  Total liabilities                                  5,876          5,604
  Shareholders' equity                              88,130         87,127

  Working capital                                   48,449         49,750

As previously announced, the Arrangement involving Vista Gold, Allied Nevada and Carl and Janet Pescio closed on May 10, 2007. The transaction resulted in the acquisition by Allied Nevada of our Nevada properties and the Nevada mineral assets of Carl and Janet Pescio. Of the 38,933,055 Allied Nevada shares issued as part of the transaction, 12,000,000 were issued to Carl and Janet Pescio as partial consideration for the acquisition of their Nevada mineral assets and 26,933,055 were issued to Vista in accordance with the Arrangement. Of the 26,933,055 Allied Nevada shares issued to Vista, 25,403,207 shares will be available for distribution to our shareholders, subject to applicable withholding taxes (as described in the management and information and proxy circular of Vista Gold dated October 11, 2006) and after we retain approximately 1.5 million shares to facilitate the payment of any taxes payable by us in respect of the Arrangement. Accordingly, for each share of Vista Gold that a shareholder owned immediately prior to the effective time of the Arrangement, they will receive, subject to applicable withholding taxes (a) one new share of Vista Gold, (b) 0.794 of an Allied Nevada share, and (c) any payment they are entitled to receive in lieu of a fractional share of Allied Nevada. The new common shares of Vista Gold and Allied Nevada shares began trading on May 10, 2007, on the Toronto Stock Exchange and the American Stock Exchange.

At March 31, 2007, our working capital was US$48.4 million. Following Vista's transfer of US$25 million in cash to Allied Nevada in connection with the closing of the Arrangement, Vista's working capital is now approximately US$23 million (of which approximately US$20 million is cash).

The annual general meeting of the Corporation's shareholders was held on May 7, 2007. Re-elected to the Board of Directors for a one-year term were John M. Clark, W. Durand Eppler, C. Thomas Ogryzlo, Robert A. Quartermain and Michael B. Richings. PricewaterhouseCoopers LLP was re-appointed independent auditor.

Since 2001, Vista Gold Corp., based in Littleton, Colorado, has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have confirmed that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. The Corporation's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the 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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's business, operations, plans 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, including anticipated consequences of the contemplated transaction described herein, 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 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 Vista operates; risks due to legal proceedings; 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. 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 on Vista, please contact Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") and Allied Nevada Gold Corp. (AMEX: ANV) Toronto ("Allied Nevada") announce that the new common shares of Vista and the shares of common stock of Allied Nevada ("Allied Nevada Shares") began trading today on the Toronto Stock Exchange (the "TSX") and the American Stock Exchange (the "AMEX"). The listings on the TSX and the AMEX result from the completion of the previously announced plan of arrangement involving Vista, Allied Nevada and Carl and Janet Pescio that closed earlier today. The completion of the transaction resulted in, among other things, the transfer of Vista's Nevada properties to Allied Nevada. Accordingly, shareholders should be aware that Vista no longer holds any interest in these Nevada properties and trading in the Vista shares on both exchanges is ex-distribution of the Allied Nevada Shares distributed pursuant to the arrangement.

As previously announced, for each share of Vista that a shareholder owned immediately prior to the effective time of the arrangement, they will receive, subject to applicable withholding taxes (a) one new share of Vista, (b) 0.794 of an Allied Nevada Share, and (c) any payment they are entitled to receive in lieu of a fractional share of Allied Nevada. The amount of any cash payment in lieu of a fractional share is equal to the product of: (i) the fractional interest; multiplied by (ii) US$5.00.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have confirmed that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. The Company's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the Amayapampa Project in Bolivia.

About Allied Nevada Gold Corp.

Allied Nevada has a large land position in Nevada, providing a strong platform from which to aggressively pursue growth opportunities. Allied Nevada has more than 250 square miles of exploration and development properties, located in some of the most prolific gold mining trends in the State of Nevada. Allied Nevada's seasoned executive team is committed to the goal of maximizing the value of the company and rewarding shareholders for their confidence in the Allied Nevada business model. Allied Nevada's board of directors is chaired by Robert Buchan and includes executives with experience in legal, accounting, investment banking, exploration and operations.

For additional information on Allied Nevada, please refer to the company's public filings available at www.sec.gov/edgar.shtml and www.sedar.com. Allied Nevada is currently developing a website, which it expects to launch shortly.

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. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista or Allied Nevada expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; 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, on Allied Nevada's Annual Report on Form 10-K, and other documents filed with the U.S. Securities and Exchange Commission. Although Vista and Allied Nevada each 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 and Allied Nevada assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information on Vista, please contact Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com. For further information on Allied Nevada, please contact Hal Kirby or Scott Caldwell at (775) 358-4455.

First Call Analyst:
FCMN Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185; or Hal
Kirby or Scott Caldwell, both of Allied Nevada Gold Corp., +1-775-358-4455

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") and Allied Nevada Gold Corp. (AMEX: ANV) Toronto ("Allied Nevada") announce that the previously announced plan of arrangement involving Vista, Allied Nevada and Carl and Janet Pescio (the "Arrangement") closed today. The transaction resulted in the acquisition by Allied Nevada of Vista's Nevada properties and the Nevada mineral assets of Carl and Janet Pescio. Of the 38,933,055 shares of common stock ("Allied Nevada Shares") issued by Allied Nevada as part of the transaction, 12,000,000 were issued to Carl and Janet Pescio as partial consideration for the acquisition of their Nevada mineral assets and 26,933,055 were issued to Vista in accordance with the Arrangement. Of the 26,933,055 Allied Nevada Shares issued to Vista, 25,403,207 shares will be available for distribution to shareholders of Vista, subject to applicable withholding taxes (as described in the management information and proxy circular of Vista dated October 11, 2006) and after Vista retains approximately 1.5 million shares to facilitate the payment of any taxes payable by Vista in respect of the Arrangement. Accordingly, for each existing share of Vista that a shareholder owned immediately prior to the effective time of the Arrangement, they will receive, subject to applicable withholding taxes (a) one new share of Vista, (b) 0.794 of an Allied Nevada Share, and (c) any payment they are entitled to receive in lieu of a fractional share of Allied Nevada.

Mike Richings, President and CEO of Vista, said, "We are pleased to have completed this transaction which will result in Vista and its shareholders owning 70% of a new Nevada gold mining company -- Allied Nevada Gold Corp. Vista has created Allied Nevada as a platform for a major new Nevada-focused mining company with a large land package, a pipeline of development projects and the Hycroft mine which is positioned for early resumption of gold production. We have assembled in Allied Nevada an excellent management team led by CEO Scott Caldwell and a board of directors chaired by Robert Buchan. Vista believes that it has provided sufficient working capital to launch the new company on a path to provide Vista shareholders with additional value and an investment in a well-run company with exposure to what many believe is one of the best locations in the world to explore, develop and mine for gold. Following the closing, Vista expects that it will continue to provide its shareholders with excellent leverage to the gold price through its remaining seven gold projects. During the next year, Vista plans to advance the Paredones Amarillos project to a production decision and to continue to develop our other advanced projects including Mt Todd, Yellow Pine and Awak Mas. We also continue to look for ways to add to our existing gold resource base."

"Allied Nevada was formed by combining the exciting land packages assembled by Vista and Carl Pescio. Allied Nevada shareholders will benefit from the vision of Mike Richings and the rest of Vista's Board of Directors and management, and Carl Pescio's talent for identifying and acquiring exploration properties in Nevada," said Scott Caldwell, President and CEO of Allied Nevada. "With these exciting assets, a strong board of directors and a seasoned management team, I am confident that Allied Nevada will be successful in rewarding our shareholders for their commitment to the company."

About Vista Gold Corp.

Since 2001, Vista has acquired a number of discovered gold projects with the expectation that higher gold prices would significantly increase their value. As gold prices have risen, Vista has completed various preliminary evaluations that have confirmed that some of the projects would be potentially viable operations at today's gold prices. Currently, Vista is undertaking technical programs to bring the most advanced projects to the point where decisions can be made to put these projects into production, either by Vista, or through sale or joint venture to other mining companies. The Company's holdings include the Paredones Amarillos and Guadalupe de los Reyes Projects in Mexico, Mt Todd Project in Australia, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and the Amayapampa Project in Bolivia.

About Allied Nevada Gold Corp.

Allied Nevada has a large land position in Nevada, providing a strong platform from which to aggressively pursue growth opportunities. Allied Nevada has more than 250 square miles of exploration and development properties, located in some of the most prolific gold mining trends in the State of Nevada.

  Allied Nevada plans to focus in the short term on three main fronts:

  1.  Exploration at the Hycroft mine on oxide and sulphide targets
  2.  Reopening the Hycroft mine
  3.  A comprehensive review of its current exploration portfolio to
      identify further opportunities to increase shareholder value.

Allied Nevada's seasoned executive team is committed to the goal of maximizing the value of the company and rewarding shareholders for their confidence in the Allied Nevada business model. The executive team that has been assembled includes:

  Scott Caldwell, President and Chief Executive Officer, is a mining
  engineer with more than 30 years of experience in the mining industry.
  Scott was most recently the Chief Operating Officer of Kinross Gold
  Corporation and has extensive experience in Nevada and internationally.

  Hal Kirby, Vice President and Chief Financial Officer, is a certified
  public accountant with more than 15 years of experience in the mining
  industry.  Hal was most recently the Vice President and Controller of
  Kinross Gold Corporation.

  Mike Doyle, Vice President of Technical Services, is a geologist with more
  than 30 years of experience in the mining industry.  Mike was previously
  the Vice President of Operations for Kinross Gold Corporation and prior to
  that was the Vice President and General Manager of the Round Mountain gold
  mine in Nevada.

Allied Nevada's board of directors is chaired by Robert Buchan and includes executives with experience in legal, accounting, investment banking, exploration and operations.

For additional information on Allied Nevada, please refer to the company's public filings available at www.sedar.com and www.sec.gov/edgar.html. Allied Nevada is currently developing a website, which it expects to launch shortly.

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. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista or Allied Nevada expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; 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, on Allied Nevada's Annual Report on Form 10-K, and other documents filed with the U.S. Securities and Exchange Commission. Although Vista and Allied Nevada each 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 and Allied Nevada assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information on Vista, please contact Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com. For further information on Allied Nevada, please contact Hal Kirby or Scott Caldwell at (775) 358-4455.

First Call Analyst:
FCMN Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185; or Hal
Kirby or Scott Caldwell, both of Allied Nevada, +1-775-358-4455

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today that it will receive a total of 26,933,055 shares of common stock of Allied Nevada Gold Corp. ("Allied Nevada Shares") as part of the previously announced arrangement involving Vista, Allied Nevada Gold Corp., and Carl and Janet Pescio (the "Arrangement"). Of these 26,933,055 Allied Nevada Shares, 25,403,207 shares will be available for distribution to shareholders of Vista, subject to applicable withholding taxes (as described in the management information and proxy circular of Vista dated October 11, 2006) and after Vista retains approximately 1.5 million shares to facilitate the payment of any taxes payable by Vista in respect of the Arrangement. Accordingly, assuming there is no change in the number of the issued and outstanding shares of Vista between the date hereof and the effective time of the Arrangement, for each existing share of Vista that a shareholder owns immediately prior to the effective time of the Arrangement, they will receive, subject to applicable withholding taxes (a) one new share of Vista, (b) 0.794 of a Allied Nevada Share and (c) any payment they are entitled to receive in lieu of a fractional share of Allied Nevada.

As previously announced, the distribution to shareholders who are not residents in Canada may be subject to withholding taxes, which cannot be determined until after the closing of the Arrangement. Consequently, Vista will withhold 10% of all Allied Nevada Shares distributable to shareholders who are not residents in Canada, to meet any shareholder withholding tax requirements. Withholding taxes, if any, will be paid from the proceeds of selling Allied Nevada Shares withheld by Vista from distribution to Vista shareholders. Once sufficient net proceeds have been realized to meet any withholding tax requirements, the remaining Allied Nevada Shares, if any, will be distributed to the shareholders who are not residents in Canada who had their Allied Nevada Shares withheld.

Vista hereby notifies all shareholders that any deemed dividend that arises as part of the Arrangement is designated to be an eligible dividend for Canadian tax purposes.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

FCMN Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today, that as previously announced, the arrangement involving Vista, Allied Nevada Gold Corp., and Carl and Janet Pescio, is expected to close on May 10, 2007. The effective time of the arrangement is expected to be 12:01 a.m. (Pacific time) on May 10, 2007. For greater clarity, all shareholders of Vista at 12:01 a.m. (Pacific time) on the closing date of the arrangement will participate in the arrangement. Accordingly, in order to participate in the arrangement you must own shares of Vista at the close of trading on the day before the closing date.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

FCMN Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) ("Vista") announced today that the U.S. Securities and Exchange Commission has completed the review process with respect to the registration of Allied Nevada Gold Corp. common stock ("Allied Nevada Shares") under the U.S. Securities Exchange Act of 1934. The previously announced arrangement involving Vista, Allied Nevada Gold Corp. ("Allied Nevada"), and Carl and Janet Pescio, is expected to close on May 10, 2007. All shareholders of Vista on the closing date of the arrangement will participate in the arrangement. If you are a shareholder and you have not reviewed the management information and proxy circular of Vista dated October 11, 2006 (the "Circular"), which provides detailed information on the arrangement, including information of certain tax consequences of the arrangement, you should download a copy of the Circular from SEDAR at www.sedar.com.

Letters of Transmittal were mailed to registered shareholders of Vista on October 20, 2006. If you are a registered shareholder and have not received a Letter of Transmittal, contact the Depositary, Computershare Investor Services Inc., at 1 (800) 564-6253 or download a copy from SEDAR at www.sedar.com. If you hold your shares through a broker or intermediary, you should carefully follow the instructions of such broker or intermediary in order to submit your shares. Completed Letters of Transmittal, along with certificates representing your shares, must be submitted in accordance with the Letters of Transmittal to receive certificates representing new shares of Vista and Allied Nevada Shares and a check for any cash payment to which the registered shareholder is entitled to under the arrangement, all subject to applicable withholding taxes.

Vista will issue a press release prior to the closing of the arrangement that will disclose the number of Allied Nevada Shares that will be distributed by Vista to shareholders of Vista as part of the arrangement. The number of Allied Nevada Shares to be distributed by Vista will be a pro rata portion of (a) the number of Allied Nevada Shares received by Vista as part of the arrangement less (b) the number of Allied Nevada Shares retained by Vista to facilitate the payment of any taxes payable by Vista in respect of the arrangement. The exact number of Allied Nevada Shares (i) issuable to Vista under the arrangement and (ii) to be retained by Vista to facilitate the payment of any taxes payable by Vista in respect of the arrangement will not be determined until immediately prior to the closing. In addition, any distribution to shareholders may be subject to withholding taxes (as described in the Circular) which amount will be paid from the proceeds of selling Allied Nevada Shares withheld by Vista from distribution to Vista shareholders.

In addition, after closing Vista will advise the holders of warrants, as required under the notice provisions of the warrants, of the adjustment made to the warrants as part of the arrangement.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

First Call Analyst:
FCMN Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announced today its financial results for the year ended December 31, 2006, as filed on March 15, 2007, with the U.S. Securities and Exchange Commission in Vista's Annual Report on Form 10-K. For the year ended December 31, 2006, Vista reported a consolidated net loss of US$4.2 million or US$0.16 per share compared to the 2005 consolidated net loss of US$4.6 million or US$0.24 per share. The decrease of US$0.4 million in the net loss for 2006 is primarily due to increased interest income of US$1.0 million resulting from an increase in interest earned on Vista's liquid bank account and the Hycroft restricted cash account, partially offset by increased corporate administration and investor relations costs of US$0.6 million.

Vista received net cash from financing activities of US$54.3 million in 2006 compared to US$7.9 million in 2005. The US$54.3 million in 2006 consisted primarily of net proceeds of US$3.2 million from a February, 2006 equity private placement; net proceeds from exercises of warrants aggregating US$22.7 million; and net proceeds of US$29.4 million from a public offering of common shares in November 2006.

Net cash used in investing activities in 2006 was US$4.2 million compared to US$8.4 million in 2005. The decrease of US$4.2 million can be attributed to a decrease of US$5.6 million for the acquisitions of subsidiaries net of cash, reflecting the cash expended as partial consideration for the acquisition of the Mt. Todd gold mine for US$1.3 million in 2006, compared to expenditures during 2005 of US$1.6 million for the acquisition of the Awak Mas project and US$5.3 million cash expended as partial consideration for the acquisition of F.W. Lewis, Inc. properties. This decrease is offset by an increase in property expenditures during 2006 of US$1.1 million. Net cash used for operations in both 2006 and 2005 was US$3.4 million. The unused cash received from financing activities in 2006 is on hand as working capital.

Vista's financial position included current assets at December 31, 2006, of US$50.6 million compared to US$3.1 million at December 31, 2005 and total assets of US$92.7 million at December 31, 2006, compared to US$38.0 million at December 31, 2005. Total liabilities at December 31, 2006, were US$5.6 million compared to US$4.6 million at December 31, 2005; these liabilities included US$4.7 million in 2006 and US$4.1 million in 2005 for accrued reclamation and closure costs at the Hycroft mine which are offset by US$5.3 million in 2006 and US$5.1 million in 2005 in a restricted cash account which is included in total assets. Shareholders' equity was US$87.1 million at December 31, 2006, compared to US$33.4 million at December 31, 2005. Vista's working capital as of December 31, 2006, was US$49.8 million which increased by US$47.2 million from US$2.6 million as of December 31, 2005.

Of Vista's current working capital, Vista anticipates investing US$25 million in common stock of Allied Nevada Gold Corp. ("Allied Nevada") in connection with the previously announced arrangement transaction involving Vista, Allied Nevada and Carl and Janet Pescio (the "Pescios"). Allied Nevada will use US$15 million of this investment as partial consideration for the purchase of the Pescios' Nevada mineral assets. As part of the transaction, Vista shareholders will exchange each of their Vista common shares and will receive, subject to applicable withholding taxes, (i) one new Vista common share and (ii) a pro rata portion of (A) the number of Allied Nevada common shares received by Vista as part of the arrangement less (B) the number of Allied Nevada shares retained by Vista to facilitate payment of any taxes payable in respect of the arrangement. Holders of Vista options will exchange their options for options to acquire Allied Nevada shares and options to acquire newly created Vista shares, and holders of Vista warrants will have their warrants adjusted in accordance with the terms of the warrants. In November 2006, Vista received the securityholder and court approvals required as conditions for completion of the transaction. Subject to receipt of the remaining required approvals, as well as completion of the registration of Allied Nevada's common shares under the United States Securities Exchange Act of 1934, the transaction is currently expected to close in the first quarter or early second quarter of 2007.

  Selected Financial Data

                                                  Years ended December 31
  U.S. $ 000's, except loss per share               2006           2005

  Results of operations
  Net loss                                        $(4,171)       $(4,584)
  Basic and diluted loss per share                 $(0.16)        $(0.24)

  Net cash used in operations                     $(3,431)       $(3,379)
  Net cash used in investing activities            (4,177)        (8,448)
  Net cash provided by financing activities        54,279          7,938

  Financial position
  Current assets                                  $50,643          3,094
  Total assets                                     92,731         37,999
  Current liabilities                                 893            452
  Total liabilities                                 5,604          4,596
  Shareholders' equity                             87,127         33,403

  Working capital                                 $49,750         $2,642

The annual general meeting of Vista's shareholders has been scheduled for Monday, May 7, 2007, 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.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F. W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required third party approvals; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier, of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today that, subject to receipt of all necessary regulatory and other approvals, it has entered into a new agreement with Luzon Minerals Ltd. (CDNX: LZN-V) ("Luzon") with respect to the Amayapampa Project. Under the terms of the new agreement, Vista has granted to Luzon an exclusive option to purchase 90% of Vista's interest in the Amayapampa Project for a term of 18 months and subject to the exercise of the option to purchase, a right of first offer over Vista's remaining 10% interest. This agreement replaces all prior agreements between Vista and Luzon with respect to Amayapampa Project.

In consideration for the option to purchase and the right of first offer, Luzon has agreed to complete a National Instrument 43-101 compliant feasibility study by September 14, 2007, and to arrange for 100% of the Project's financing required for the construction, development and commencement of commercial mining operations at the levels recommended in the feasibility study (including all working capital), by no later than September 14, 2008. Vista may extend the delivery deadline for the feasibility study for a further six months under certain circumstances and for further consideration of US$20,000 per month to be paid by Luzon to Vista.

In addition, Vista will retain a 10% of the net proceeds interest in the Project which shall be "carried" to the point of commencement of commercial production and Luzon will grant Vista a production royalty. The net smelter return royalty will be 2.5% when gold is less than US$500 per ounce and 3.5% when gold is at or above US$500 per ounce. If the feasibility study indicates proven and probable reserves at the Amayapampa Project are greater than 685,252 ounces of gold, then the net smelter return royalties on production above 548,202 ounces of gold shall be reduced to 1.0% when gold is less than US$500 per ounce and 2.0% when the gold price is at or above US$500 per ounce.

Luzon's ability to exercise the option to purchase is subject to Luzon satisfying a number of conditions set out in the new agreement. Subject to Luzon's right to extend the term of the agreement in certain circumstances, the agreement will terminate on September 14, 2008, unless the option to purchase has been exercised by Luzon prior to such date.

Vista, based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, operations, plans 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 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; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today that the deadline for completion of the previously announced arrangement involving Vista, Allied Nevada Gold Corp. ("Allied Nevada") and Carl and Janet Pescio has been extended to April 30, 2007. The arrangement, if completed, will result in Vista transferring its existing Nevada properties to Allied Nevada, which will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio. The closing of the transaction is subject to the satisfaction or waiver of a number of conditions customary in a transaction of this nature. Among the conditions is the registration of Allied Nevada's common stock under the U.S. Securities Exchange Act of 1934. To this end, Allied Nevada filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission, has amended the registration statement in response to the Commission's comment and is currently awaiting the Commission's response. The registration will not be complete until the comment process has concluded, which Vista currently anticipates will occur during the first quarter of 2007, with the transaction expected to close shortly thereafter.

In other news, Vista has retained Gustavson Associates LLC ("Gustavson") of Boulder, Colorado, to prepare an updated resource estimate on the Vista's Awak Mas deposit on South Sulawesi Island in Indonesia in accordance with Canadian National Instrument 43-101 standards. The new resource estimate will incorporate the results of the drilling program completed by Vista at the project late last year, which consisted of 13 core holes totaling 8,440 feet of drilling. Vista intends to complete a feasibility study on the project during 2007.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required third party approvals; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce results from a preliminary assessment at its Mt. Todd project in Northern Territory, Australia, that was completed on December 29, 2006, by Gustavson Associates LLC ("Gustavson") of Boulder, Colorado, in accordance with Canadian National Instrument 43-101 standards under the direction of John W. Rozelle, P.G., an independent qualified person. This preliminary assessment entitled "Preliminary Economic Assessment Mt. Todd Gold Project, Northern Territory, Australia" dated December 29, 2006, has been filed on SEDAR by Vista.

The Mt. Todd project is 50 kilometers north of Katherine, and approximately 250 kilometers southeast of Darwin. Based on a review of project files, Vista management believes that approximately 24.6 million tonnes grading 1.05 grams per tonne gold and containing 826,000 ounces of gold were extracted between 1996 and the termination of mining in 2000. Processing was by a combination of heap-leach production from oxide ore and cyanidation of sulfide ore. The remaining mineral resource consists of sulfide mineralization lying below and along strike of the existing open pit.

Gustavson had estimated mineral resources in a report entitled "Report NI 43-101 Technical Report on the Mount Todd Gold Project, Northern Territory, Australia" dated June 26, 2006, in compliance with NI 43-101 standards, the results of which were previously reported by Vista in a press release dated June 26, 2006. Based on the June 2006 report, the gold resources for the Batman deposit, reported at a cutoff grade of 0.5 grams of gold per tonne and shown in metric units are:

                                Tonnes          Grade         Contained Gold
                                (000s)    (grams per tonne)       Ounces

  Measured resources (1)        18,421           0.97             576,130
  Indicated resources (1)       37,957           0.97           1,181,620
  Measured and indicated
   resources (1)                56,378           0.97           1,757,750
  Inferred resources (2)        50,053           0.93           1,503,194

  (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 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 conceptual process flowsheet developed by Resource Development Inc. of Wheat Ridge, Colorado, which is based on preliminary testwork and includes a flotation circuit to recover a bulk sulfide concentrate, and further flotation to separate a copper sulfide concentrate that would contain about one-half of the gold and which would be shipped to a smelter. A pyrite concentrate containing about one-half of the gold would also be produced and this concentrate would be cyanide leached to recover the gold. The cyanide in the sulfide residue would be neutralized, following which the residue would be filtered to dry it, and then placed on a lined pad. MWH Australia Pty Ltd ("MWH") designed conceptual tailing disposal facilities, including utilizing the existing tailing facility, and estimated capital costs for these facilities. MWH also completed a closure study and cost estimate for closing the mine and facilities following resumption of production.

In the preliminary assessment, Gustavson assumed a 30,000 metric tonne-per-day (10.65 million metric tonne-per-year) ore production rate, resulting in a ten-year operating life. Overall gold recovery is estimated at 87% and copper recovery at 70%. Using a gold price of US$600 per ounce and a copper price of US$2.00 per pound, the mineable resources are as shown in the following table in metric units.

                       PRELIMINARY ASSESSMENT STUDY
Classification of Mineable Resources (US$600 per oz Au and US$2.00 per lb
                           Copper Designed Pit)
                              December 2006

    Class           Ore      Average  Contained   Total     Total  Stripping
                   Tonnes     Gold       Gold     Waste     Tonnes   Ratio
                  (x 1000)    Grade      (oz)     Tonnes   (x 1000)  (W:O)
                             (gm/t)              (x 1000)
  Measured
   resources (1)  20,521.1    0.902     595,036     -NA-      -NA-    -NA-
  Indicated
   resources (1)  41,182.9    0.908   1,202,307     -NA-      -NA-    -NA-
  Inferred
   resources (2)  45,947.5    0.923   1,363,645     -NA-      -NA-    -NA-
                                                 187,118   294,769    1.74

  (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.

Startup capital is estimated at US$264 million. Mining costs are estimated at US$1.21 per tonne of material mined, processing costs are estimated at US$6.48 per tonne of ore processed and general and administrative costs are estimated at US$0.14 per tonne processed.

Gustavson prepared cash flow economic analyses and sensitivity studies for gold prices of US$500, US$600, and US$700 per ounce and plus and minus 20 percent for operating and capital costs. According to the Gustavson study, at long-term average gold prices over US$532 per ounce, the project appears to be viable. The base case of US$600 per gold ounce has an approximate pre-tax Discounted Cash Flow Rate of Return (DCFROR) of 17 percent. Net cash flow is estimated at US$178 million.

The "preliminary assessment" is preliminary in nature and includes inferred mineral resources (43% inferred and 57% 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.

Mike Richings, President and CEO, commented, "The results of the Gustavson study confirm our original concept that with appropriate proven technology, Mt. Todd could be developed under current economic conditions. During 2007, we have planned a substantial program of drilling and engineering which we believe will add substantially to the value of the project. Our drilling program will have two goals: to convert inferred resources in the Batman pit area to measured and indicated, and to add new resources to the project. Our review of the Gustavson study shows the reason that the inferred resources in the pit are classified as inferred rather than measured and indicated is because the drill hole sampling density is insufficient. The 2007 drilling program commencing in February is designed to increase the sampling density and upgrade inferred resources to measured and indicated resources. The study also shows that the potential to extend the resources along strike is good and again the 2007 program will be an initial test of this potential. The samples obtained from the drilling will also be used to gather geotechnical data for pit wall design, to waste rock characterization and for metallurgical testwork to optimize the process flow sheet. If the results of the drilling and engineering program are favorable, we expect this information will lead to an updated feasibility study and the estimation of mineable reserves."

With regard to some of Vista's other projects, Mr. Richings noted, "Vista will be undertaking substantial programs at each of its four most advanced development projects in 2007. These programs will include infrastructure engineering at Paredones Amarillos, additional engineering and field work at Yellow Pine, a feasibility study on the development of Awak Mas and the work at Mt. Todd described above. These four projects are clearly attractive developments at current gold prices and we believe that our planned programs will add substantial value to these projects and accordingly, to Vista."

Further, Mr. Richings said, "The uncertainty over the timing of the proposed arrangement involving the creation of Allied Nevada Gold Corp., which, as previously announced, has taken longer than expected due to the complicated regulatory process, has made it difficult for the market to fully the appreciate the full value of Vista. However, we believe our shareholders will see the full value of this strategy when the proposed arrangement is complete, through the creation of one of the best gold exploration and development opportunities in Nevada in Allied Nevada, with Vista shareholders still retaining a superior option on the price of gold in Vista with its portfolio of large advanced gold development projects."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required third party approvals; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) ("Vista") announced today that the closing of the proposed arrangement is now expected to occur in the first quarter of 2007. As previously announced, the Supreme Court of the Yukon Territory granted its final order approving the plan of arrangement that, if completed, will result in Vista transferring its existing Nevada properties into a recently incorporated company, Allied Nevada Gold Corp. ("Allied Nevada"), which will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio. The closing of the transaction is subject to the satisfaction or waiver of a number of conditions customary in a transaction of this nature. Among the conditions is the registration of Allied Nevada's common stock under the U.S. Securities Exchange Act of 1934. To this end, Allied Nevada filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission and is currently responding to the Commission's comments on the Form 10 registration statement. The registration will not be complete until the comment process has concluded, which Vista currently anticipates will occur during the first quarter of 2007, with the transaction expected to close shortly thereafter.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required third party approvals; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today that, subject to a number of conditions, it has agreed to loan up to U.S.$200,000 by way of a 90 day term loan to Luzon Minerals Ltd. (CDNX: LZN) ("Luzon") for Luzon to pay down debts already incurred and ongoing expenses in connection with the Amayapampa Project and Luzon's Lipichi project both located in Bolivia. In addition, Vista recently entered into a letter of understanding with Luzon and Republic Gold Limited (Luzon's strategic partner) to reconstitute the affairs of Luzon to ensure that Luzon's strategic development is advanced in the best interest of its shareholders. As part of Luzon's reconstitution, Michael Richings, the President and Chief Executive Officer of Vista, has agreed to be appointed as a director of Luzon. As previously announced, Vista entered into an agreement with Luzon pursuant to which Vista agreed to sell its interest in the Amayapampa Project to Luzon.

Vista, based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, operations, plans 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 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; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto ("Vista") announced today that, subject to board approval and satisfaction of a number of other conditions, it has reached an agreement with Luzon Minerals Ltd. (LZN-V) ("Luzon") to extend the deadline for Luzon to make the US$2.6 million cash payment currently payable to Vista by Luzon on December 6, 2006 to January 30, 2007. The agreement to extend the deadline set under the terms of the existing purchase option agreement between Vista and Luzon (as previously announced by Vista) is subject to satisfaction of the conditions described below. If these conditions are satisfied, the existing purchase option agreement will be replaced with a new option agreement substantially on the terms described below. If these conditions are not satisfied, the existing purchase option agreement will remain in effect and the US$2.6 million payment will be payable on January 30, 2007. Under the existing agreement, Luzon will not acquire title to the project until all payments have been made.

The agreement to extend the payment deadline is subject to the following conditions:

  1.  Luzon immediately restructure its board of directors to, among other
      things, include a director nominated by Vista.

  2.  By no later than January 30, 2007, Luzon will have:

     (a)  demonstrated to the satisfaction of Vista that it has management
          in place to undertake technical and on-site management of the
          Amayapampa project;

     (b)  arranged sufficient funding, or have established and approved a
          funding plan acceptable to Vista, to fund project and corporate
          activities sufficient to complete the option period;

     (c)  executed a new option agreement with Vista to replace the existing
          purchase option agreement that sets out the terms on which Vista
          agreed to sell, and Luzon agreed to buy, the Amayapampa project
          from Vista.  Under the new option agreement, Vista would grant
          Luzon an 18-month option to purchase a 90% interest in Vista's
          interests in the Amayapampa project, on substantially the terms
          described below.   The consideration for the option will be:

          (i)   the payments and shares already received as part of the
                existing agreement;

          (ii)  a monthly payment of US$20,000 payable during the option
                period in cash or shares of Luzon;

          (iii) payment to Vista of all outstanding accounts receivable to
                be made on closing; and

          (iv)  the assumption of all future holding costs, including rents,
                legal fees, etc. for the Amayapampa project and resumption
                by Luzon of project management and site activities.

          The purchase price will consist of the following:

          (v)   The delivery of a Canadian National Instrument 43-101
                compliant bankable feasibility study within six months of
                the effective date of the new option agreement.

          (vi)  The arrangement for the 100% financing of the construction,
                including all working capital (through to commercial
                production), of the Amayapampa mine within 18 months of the
                effective date.

          (vii) Payment to Vista of a net smelter royalty, graduated for
                gold price, to be negotiated between the parties, but
                substantially similar to the royalty in the existing
                agreement.

     Other terms will be negotiated, but will include a requirement that
     until the mine has been in commercial production for two years, Vista
     will be entitled to nominate a director to Luzon's board of directors.

Vista understands that Luzon issued a press release earlier today regarding the matters described above. The press release issued by Luzon did not accurately reflect the terms of the agreement reached between Vista and Luzon. Vista understands that Luzon intends to issue a press release to clarify the terms of the agreement reached.

Vista, based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, operations, plans 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 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; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) ("Vista") announced today that the Supreme Court of the Yukon Territory has granted its final order approving the plan of arrangement that, if completed, will result in Vista transferring its existing Nevada properties into a recently incorporated company, Allied Nevada Gold Corp. ("Allied Nevada"), which will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio. The closing of the transaction is subject to the satisfaction or waiver of a number of conditions customary in a transaction of this nature. The arrangement is expected to close in December 2006.

Vista, based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required third party approvals; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today its application to the Supreme Court of the Yukon Territory to approve the proposed arrangement which, if completed, will result in Vista transferring its existing Nevada properties into a recently incorporated company, Allied Nevada Gold Corp., which will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio, has been rescheduled from today to Wednesday, November 29, 2006.

Completion of the arrangement remains subject to a number of conditions, including approval of the Supreme Court of the Yukon Territory. Vista currently expects the transaction to close in December 2006. Vista will provide further updates on the expected timing of the proposed arrangement in the near future.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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. The statements made in this press release about the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Allied Nevada, as well as the benefits expected to result from the contemplated transaction, are 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required securityholder, court of third party approvals; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) ("Vista") announced today that its shareholders, optionholders and warrantholders (collectively, "Securityholders") have voted to approve the previously announced transaction which, if completed, will result in Vista transferring its existing Nevada properties into a recently incorporated company, Allied Nevada Gold Corp. ("Allied Nevada"), which will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio. Under the proposed transaction, Vista's shareholders will exchange their existing common shares of Vista and will receive new common shares of Vista and common shares of Allied Nevada. Vista's optionholders will exchange their options for options to acquire new common shares of Vista and options to acquire common shares of Allied Nevada. Finally, Vista's warrantholders will have their warrants adjusted in accordance with the terms of the warrants. Vista believes that the current market price of its common shares does not adequately reflect the underlying value of its Nevada properties. By transferring its Nevada properties to Allied Nevada and combining them with the Nevada-based assets of the Pescios to create a single, Nevada-focused gold company, Vista believes that its shareholders will be more likely to realize the value of those underlying assets over time.

The total number of common shares of Allied Nevada available for distribution to Vista's shareholders cannot be determined until immediately prior to the effective time of the proposed transaction. As disclosed in the information circular previously delivered to Securityholders, the number of Allied Nevada shares available for distribution will be 27,500,000 (out of a total of 39,500,000 common shares of Allied Nevada expected to be issued at closing), less the number of common shares: (a) issuable to current holders of Vista options upon the exercise of Allied Nevada options issued to them under the Arrangement; and (b) withheld by Vista to facilitate payment of taxes payable by Vista as a result of the completion of the transaction. Shareholders should refer to page 30 of the information circular under the heading "Treatment of Vista Shares" for more information on how these amounts will be calculated, including a sample calculation of these amounts making certain assumptions about the value of the Vista common shares, the Allied Nevada common shares and the U.S./Canadian exchange rate at the relevant time. Vista will confirm the actual number of Allied Nevada shares to be distributed to Vista shareholders in a press release to be issued in connection with the completion of the transaction.

At a special meeting held earlier today, the transaction was approved by the required majorities: (a) 89.29% of the votes cast by all Securityholders; and (b) 93.42% of votes cast solely by Vista's shareholders. The votes of holders of options and warrants were included in the vote of the Securityholders and no separate class vote was conducted for those holders. Nonetheless, 100% of votes cast by Vista's optionholders voted in favour of the transaction and 51.13% of the votes cast by Vista's warrantholders voted against the transaction.

Completion of the transaction remains subject to a number of conditions, including approval of the Supreme Court of the Yukon Territory. An application for court approval is scheduled to be heard by the Supreme Court of the Yukon Territory on November 20, 2006 at 1:30 p.m. (local time in Whitehorse). Vista currently expects the transaction to close in December 2006.

Letters of Transmittal were mailed to registered shareholders of Vista on or about October 20, 2006. If you are a registered shareholder and have not received a Letter of Transmittal, please contact Computershare Investor Services Inc. at 1-866-249-7775 to obtain a Letter of Transmittal. Copies are also available on the Internet at www.sedar.com. Completed Letters of Transmittal, along with certificates representing your existing Vista shares, must be submitted in accordance with the instructions in the Letter of Transmittal in order to ensure you receive the securities you are entitled to receive under the transaction.

If you are a non-registered shareholder of Vista, you will likely not have received a Letter of Transmittal. You should contact your broker or other financial intermediary through whom your common shares of Vista are held as soon as possible to discuss what documentation must be completed and what other steps are required to be taken in order to ensure you receive the securities you are entitled to receive under the transaction.

About Vista

Vista, based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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. The statements made in this press release about the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Allied Nevada, as well as the benefits expected to result from the contemplated transaction, are 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required securityholder, court of third party approvals; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (TSX: VGZ; Amex) announced today its financial results for the quarter and nine-months ended September 30, 2006, as filed on November 14, 2006, with the US Securities and Exchange Commission and with the relevant securities commissions in Canada in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended September 30, 2006, of US$1.4 million or US$0.05 per share compared to a consolidated net loss of US$1.0 million or US$0.05 per share for the same period in 2005. The Corporation's consolidated net loss for the nine-month period ended September 30, 2006, was US$3.4 million or US$0.14 per share compared to a consolidated net loss of US$3.4 million or US$0.19 per share for the same period in 2005. The net losses for the three-month and nine-month periods were minimally different from those for the prior-year periods, primarily reflecting slight increases in stock-based compensation expense of US$0.5 million in the three-month period.

Net cash used for operations was US$1,113,000 for the three-month period ended September 30, 2006, compared to US$957,000 for the same period in 2005. Cash used in operations was US$3,259,000 for the nine-month period ended September 30, 2006, compared to US$2,776,000 for the same period in 2005. The increase of US$156,000 for the three-month period can be attributed to an increased net loss of US$391,000, an increase in cash used for accounts receivable of US$102,000 and an increase in supplies inventory, prepaids and other of US$536,000, partially offset by an aggregate increase of non-cash items of US$519,000 and a reduction in accounts payable of US$354,000. The increase of US$483,000 for the nine-month period can be attributed to an increased consolidated net loss of US$17,000, an increase in cash used for accounts receivable of US$455,000 and an increase in supplies inventory, prepaids and other of US$613,000, partially offset by an aggregate increase of non-cash items of US$435,000 and a reduction of accounts payable of US$164,000. For both the three and nine-month periods, the increase in supplies and prepaids is mostly due to costs of US$727,995 incurred in connection with the proposed transaction that will result in the transfer of the Corporation's Nevada based properties into the recently incorporated company, Allied Nevada Gold Corp., and the acquisition by Allied Nevada of the Nevada-leased mineral assets of Carl and Janet Pescio.

Net cash used for investing activities increased to US$960,000 for the three-month period ended September 30, 2006, compared to US$533,000 for the same period in 2005. Net cash used for investing activities increased to US$3,239,000 for the nine-month period ended September 30, 2006, compared to US$2,761,000 for the same period in 2005. The respective increases of US$427,000 and US$478,000 from the three and nine-month periods are primarily due to increases in capital expenditures for the Corporation's mineral properties which are primarily the result of an exploration program that the Corporation is undertaking at the Maverick Springs project and an option payment that was made in August for the Guadalupe de los Reyes project. Also during the three and nine-month periods, plant and equipment expenditures increased, which was mostly due to an increase in purchases at the Awak Mas project.

Net cash provided by financing activities was US$1,082,000 in the three-month period ended September 30, 2006 compared to US$7,245,000 for the same period in 2005. For the 2006 period, warrant exercises provided cash of US$763,000 and stock option exercises provided cash of US$319,000. All proceeds raised during the 2005 three-month period were from a private placement financing completed in September 2005 that provided net cash proceeds of US$7,245,000. Net cash provided by financing activities was US$26,372,000 for the nine-month period ended September 30, 2006 compared to US$7,643,000 for the same period in 2005. For the 2006 period, a private placement financing completed in February 2006 provided net cash proceeds of US$3,184,000 warrant exercises provided cash of US$22,390,000 and stock option exercises provided cash of US$798,000. The amounts raised in the 2005 nine-month period were from the September 2005 private placement as discussed, and from exercises of warrants in the amount of US$373,000 and exercises of stock options in the amount of US$25,000.

The financial position of the Corporation included current assets at September 30, 2006, of US$24.0 million compared to US$3.1 million at December 31, 2005, and total assets at September 30, 2006, of US$62.7 million compared to US$38.0 million at December 31, 2005.

Current liabilities were US$0.6 million at September 30, 2006, approximately the same as at December 31, 2005 of US$0.5 million. Total liabilities at September 30, 2006, were US$4.8 million, compared to US$4.6 million at December 31, 2005. Shareholders' equity at September 30, 2006, was US$57.9 million compared to US$33.4 million at December 31, 2005.

The Corporation's working capital as of September 30, 2006 was US$23.4 million compared to US$2.6 million at December 31, 2005.

The selected financial data including the results of operations for the three-month and nine-month periods ended September 30, 2006 compared to 2005, and the financial position as at September 30, 2006 compared to December 31, 2005 is summarized in the following table:

  Selected Financial Data       Three Months Ended      Nine Months Ended
                                   September 30,          September 30,
                               2006           2005       2006       2005
  U.S. $000's, except
   loss per share

  Results of operations
  Net loss                  $(1,361)         $(970)    $(3,395)    $(3,378)
  Basic and diluted
   loss per share             (0.05)         (0.05)      (0.14)      (0.19)

  Net cash used in
   operations                (1,113)          (957)     (3,259)     (2,776)
  Net cash used in
   investing activities        (960)          (533)     (3,239)     (2,761)
  Net cash provided by
   financing activities       1,082          7,245      26,372       7,643

  Financial position     September 30,   December 31,
                              2006           2005

  Current assets            $24,017         $3,094
  Total assets               62,675         37,999
  Current liabilities           631            452
  Total liabilities           4,768          4,596
  Shareholders' equity       57,907         33,403

  Working capital            23,386          2,642

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed and Quarterly Report in Form 10-Q and other documents with the U.S. Securities and Exchange Commission and with the relevant securities commissions in Canada. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (TSX: VGZ; Amex) is pleased to announce results from a preliminary assessment at its Yellow Pine project in Valley County, Idaho, that is expected to be completed in November 2006, by Pincock Allen & Holt ("PAH") of Lakewood, Colorado, in accordance with Canadian National Instrument 43-101 standards under the direction of Richard Lambert, P.E. and Barton Stone, P.G., both independent qualified persons. This preliminary assessment will be filed on SEDAR by the Corporation.

The Yellow Pine project is located in the Salmon River Mountains of central Idaho in an area of historical gold, antimony and tungsten mining know as the Stibnite or Yellow Pine Mining District. The district is located about 60 miles east of McCall, Idaho, and 10 miles southeast of the small settlement of Yellow Pine, Idaho. Historically, the mine has produced about 700,000 ounces of gold from a combination of byproduct gold from tungsten and antimony mining and more recent heap-leach production from oxide ore. The remaining mineral resource consists of sulfide mineralization lying below and along strike from the existing open pit.

PAH reviewed the mineral resources it had estimated in a report completed on November 17, 2003, in compliance with NI 43-101 standards, the results of which were previously reported by Vista in a press release dated November 19, 2003, and confirmed the estimates are still valid. At a cutoff grade of 0.025 ounces of gold per ton, the mineral resources are:

                               Short Tons         Grade      Contained Gold
                                 (000s)     (ounces per ton)     Ounces
  Measured resources(1)          16,332           0.070        1,147,000
  Indicated resources(1)         17,503           0.061        1,071,000
  Measured and indicated
   resources(1)                  33,835           0.066        2,218,000
  Inferred resources(2)          16,047           0.051          819,000


  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.

  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, PAH considered the economic and technical parameters associated with development of the mineral resources by open-pit mining. The study, based on PAH's review of previous technical studies and their own work, determined the best treatment approach would be an on-site plant to produce a flotation concentrate that would be refined off-site. The potential development would produce an estimated 1.9 million ounces of gold over a 10-year life.

The total capital cost over the project life was estimated by PAH to be US$170 million and preproduction capital was estimated by PAH to be US$150 million. According to the PAH study, at long-term gold prices over US$550 per ounce, the project appears to be viable. PAH estimated that at a gold price of US$630 per ounce, the Yellow Pine project demonstrates favorable economics, with a net cash flow of US$266 million, a net present value of US$126 million at a 5% discount rate and an internal rate of return of 19%. The preliminary assessment is preliminary in nature and includes inferred mineral resources (3% inferred and 97% 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 and that are not mineral reserves do not have demonstrated economic viability.

Mike Richings, President and CEO, commented, "Most investors are aware that Vista plans to enter into a transaction that will result in the transfer of our Nevada-based properties into our newly incorporated, wholly-owned subsidiary, Allied Nevada Gold Corp. and the acquisition by Allied Nevada of the Nevada-based mineral assets of Carl and Janet Pescio. As part of this transaction, which is subject to receipt of shareholder, regulatory and other required approvals, Vista would distribute most of its Allied Nevada common stock to our shareholders, all pursuant to the terms of an Arrangement Agreement among Vista, Allied Nevada and the Pescios as previously disclosed. We believe that the current market price of our securities does not adequately reflect the underlying value of our Nevada properties. By transferring these Nevada assets to Allied Nevada and the acquisition of the Nevada-based assets of the Pescio Group by Allied Nevada to create a single, Nevada-focused gold company, we believe that our shareholders will be more likely to realize the value of those underlying assets over time. The results of the PAH study on Yellow Pine, together with the earlier released results on a more detailed study at Paredones Amarillos as presented in the Corporation's press release dated January 30, 2006, supports management's belief that substantial value would remain in Vista following the transaction. We are planning to complete a similar study on the Mt. Todd project before the end of the year and a detailed feasibility study on the Awak Mas project in 2007."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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. The statements made in this press release about reserve and resource estimates, gold prices, production costs and estimated project economics, are forward- looking statements. Other forward-looking statements include but are not limited to those with respect to the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Allied Nevada, as well as the benefits expected to result from the contemplated transaction. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 and related economic analyses; potential effects on Vista's or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the proposed transaction including risks that Vista may be unable to obtain required securityholder, court or third party approvals; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (TSX & Amex: VGZ) (the "Company") announced today the closing of its public offering (the "Offering") of 3,668,100 of its common shares at a price to the public of US$8.50 per share, resulting in net proceeds to the Company of approximately US$29.6 million after payment of agents' fees but excluding estimated offering expenses. The Company also issued, as additional consideration to the agents, compensation warrants entitling the agents to purchase an aggregate of 183,405 common shares of the Company at a price of US$8.50 per share for a period of two years following the closing date. All of the shares were offered on a best efforts agency basis pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The Company had also previously filed a base shelf prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta, Manitoba and Ontario, Canada in connection with the Offering.

The Company expects to use the proceeds of the Offering to finance the previously-announced transaction involving the transfer of the Company's Nevada-based properties into a new publicly-listed company and the acquisition by that new company of the Nevada-based mining assets of Carl and Janet Pescio, and for general working capital and general corporate purposes.

Sprott Securities (USA) Limited and Griffiths McBurney Corp. acted as agents in respect of the Offering in the United States and Sprott Securities Inc. and GMP Securities, L.P. acted as agents in respect of the Offering in Canada. Copies of the final prospectus supplements and the base shelf prospectuses may be obtained from Sprott Securities Inc. (attn: Susan Samila- Moroz), Suite 2800, South Tower, Royal Bank Plaza, Toronto, Ontario, M5J 2J2, Tel# (416) 943-6405 and Fax # (416) 943-6496. The final prospectus supplement and the base prospectus relating to the Offering filed with the SEC are also available on the SEC's website at http://www.sec.gov/. Copies of any prospectus supplements filed with the securities regulatory authorities in Canada are available, along with the Canadian base shelf prospectus, at http://www.sedar.com/.

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

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements. The timing, occurrence and results of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, risks relating to fluctuations in the price of gold and uncertainties concerning reserve and resource estimates, as well as those factors discussed in the Company'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. Although the Company 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. The Company 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier, +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto (the "Company") announced today that it has priced a public offering (the "Offering") of a minimum of US$25 million and a maximum of US$32 million of its common shares at a price to the public of US$8.50 per share. The closing of the Offering is expected to take place on November 7, 2006, subject to the satisfaction of customary closing conditions. All of the shares are being offered on a best efforts agency basis pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission. The Company has also previously filed a base shelf prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta, Manitoba and Ontario, Canada in connection with the Offering.

The Company expects to use the proceeds of the Offering to finance the previously-announced transaction involving the transfer of the Company's Nevada based properties into a new publicly-listed company and the acquisition by that new company of the Nevada based mining assets of Carl and Janet Pescio, and for general working capital and general corporate purposes.

Sprott Securities (U.S.A.) Limited is acting as lead agent in respect of the Offering.

Copies of the final prospectus supplements, once filed, and the base shelf prospectuses may be obtained from Sprott Securities Inc. (attn: Susan Samila-Moroz), Suite 2800, South Tower, Royal Bank Plaza, Toronto, Ontario, M5J 2J2, Tel# (416) 943-6405 and Fax # (416) 943-6496. When a final prospectus supplement relating to the Offering has been filed with the SEC, it will be available along with the base prospectus filed with the SEC in connection with the shelf registration, on the SEC's website at http://www.sec.gov/. Copies of any prospectus supplements filed with the securities regulatory authorities in Canada will be available, along with the Canadian base shelf prospectus, on the internet at http://www.sedar.com/.

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

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Company's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 those relating to the proposed equity financing by Vista, are forward-looking statements. The timing, occurrence and results of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, capital market conditions, risks relating to fluctuations in the price of gold and uncertainties concerning reserve and resource estimates, 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today that on October 17, 2006, the Corporation obtained an interim order from the Supreme Court of the Yukon Territory in connection with the holding of a meeting of securityholders of the Corporation to approve matters related to the previously announced transaction which, if completed, will result in Vista transferring its existing Nevada properties into a recently incorporated company, Allied Nevada Gold Corp. ("Allied Nevada"), that will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio.

The proposed transaction will be considered by holders of shares, options and warrants of the Corporation at the special meeting of the Corporation scheduled for November 16, 2006 (previously scheduled for November 15, 2006). The Information and Proxy Circular relating to the special meeting was delivered to securityholders on October 20, 2006. A copy of the materials delivered to securityholders is available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Under the proposed transaction, Vista's shareholders will exchange their existing common shares of Vista and will receive new common shares of Vista and common shares of Allied Nevada. Holders of options to acquire Vista common shares will exchange their options for options to acquire new common shares of Vista and options to acquire common shares of Allied Nevada. Holders of warrants of Vista will have their warrants adjusted in accordance with the terms of the warrants.

Completion of the transaction remains subject to a number of conditions, including receipt of all required court, securityholder, regulatory and third party approvals and other customary conditions. Subject to receipt of the required approvals and conditions, the transaction is expected to close in late November or in December, 2006.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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. The statements made in this press release about the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Allied Nevada, as well as the benefits expected to result from the contemplated transaction, are 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 and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the contemplated transaction described herein including risks that Vista may be unable to obtain required securityholder, court or third party approvals; 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. 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 Gregory G. Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that, in connection with the preparation of a Management Information and Proxy Circular to be delivered to its securityholders for the meeting being held to approve matters relating to the previously announced transaction that will result in the transfer of the Corporation's Nevada based properties into a recently incorporated company and the acquisition by that new company of the Nevada based mineral assets of Carl and Janet Pescio, it has filed updated technical reports, prepared in accordance with Canadian National Instrument 43-101, for six of the Nevada mineral properties to be transferred by Vista to the new company, Allied Nevada Gold Corp. ("Allied Nevada"), and new NI 43-101 compliant technical reports for 19 of the 53 Nevada mineral properties in which the Pescios currently hold interests. There has been no material change in the information contained in the updated technical reports for Vista's existing Nevada properties from information disclosed in previous reports for those properties.

The updated technical reports for Vista's properties relate to the Hycroft mine and the Wildcat, Maverick Springs, Mountain View, Hasbrouck and Three Hills projects. The new technical reports for the properties underlying the interests to be acquired from the Pescios relate to the Beowawe, Cobb Creek, Dixie Flats, Dome, Wild Horse, Eden, Elder Creek, NAD, North Carlin, North Mill Creek, Pony Creek, Switch, Six Mile, Toy, Tusk, Rock Creek, Santa Renia, South Silver Cloud, Tonka and Woodruff properties. The reports may be viewed on SEDAR at www.sedar.com under Vista Gold Corp. and also under Allied Nevada Gold Corp.

In addition, Vista has filed an updated scoping study containing a mineral resource analysis for the Amayapampa project, a project located 186 miles southeast of La Paz, Bolivia, that was completed on September 21, 2006 by GR Technical Services Ltd. of Calgary, Alberta and Giroux Consultants Limited of Vancouver, British Columbia in accordance with Canadian National Instrument 43-101. The Amayapampa project is being purchased by Luzon Minerals Ltd. ("Luzon") under terms and amended terms previously disclosed in press releases and summarized in Vista's 2005 annual report on Form 10-K. The resource estimate was completed in September 2005 for Luzon under the direction of Mr. G. H. Giroux, P.Eng., MA Sc., an independent qualified person, utilizing standard industry software and resource estimation methodology. The mineral resource data base contains 10,264 assay intervals from 45 core drill holes, 96 reverse circulation drill holes, and underground channel samples done by Da Capo Resources Ltd. and Vista between 1994 through 1997, with assaying by the Bondar Clegg laboratory in Oruro, Bolivia. The results of the study indicates that the known Amayapampa deposit, at a cutoff grade of 0.012 ounces gold per ton (0.4 grams per tonne), contains the gold resources shown in the following table.

                    Tons      Tonnes     Gold    Gold   Gold Ounces
                   (000's)   (000's)    (opt)    (g/t)   (000's)
  Measured (1)      5,677     5,150     0.047     1.60     265
  Indicated (1)    10,020     9,030     0.040     1.37     336
  Inferred (2)      2,161     1,960     0.027     0.94      59

  (1)  Cautionary Note to U.S. Investors concerning estimates of Measured
       Resources 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.

The Amayapampa project is located along the east flank of a north-south trending regional anticline near the top of an Ordovician sequence of weakly metamorphosed Ordovician black argillites, quartzites, and siltites. Bedding dips are steep at 60 to 80 degrees west, with the east limb of the anticline being overturned and thus, also dipping steeply west. Gold occurs free and associated with sulfides in a northwest-trending structural zone in which quartz veins were emplaced then sheared prior to introduction of sulfides and gold mineralizing solutions. The overall dip of the mineralized envelope is 80 to 90 degrees to the west.

The mineral envelope is approximately 1,970 feet in strike length and 98 to 230 feet in width. The depth extent of continuous mineralization is in excess of 656 feet, although some mineralization is present below this depth. The deposit is defined by about 48 diamond drill holes; 96 reverse-circulation drill holes; and 315 underground channel samples totaling 17,585 feet from more than 200 accessible cross-cuts in 43 different levels and sub-levels extending over a vertical distance of 682 feet.

The scoping study for the Amayapampa project may be viewed on SEDAR at www.sedar.com under Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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. The statements made in this press release about the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Allied Nevada, as well as the benefits expected to result from the contemplated transaction, are forward-looking statements. Other forward-looking statements include but are not limited to those with respect to reserve and resource estimates and production costs. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the proposed spin-off transaction including risks that Vista may be unable to obtain required securityholder, court or third party approvals; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX)(the "Company") announced today that it intends to file a preliminary prospectus supplement with the Securities and Exchange Commission (the "SEC") in connection with a proposed public offering (the "Offering"), subject to market and other conditions, of up to 4,000,000 of its common shares on a best efforts agency basis, and also will file a preliminary prospectus supplement to its existing US$32 million short form base shelf prospectus dated October 2, 2006 with the securities regulatory authorities in the provinces of British Columbia, Alberta, Manitoba and Ontario in connection with the Offering. The Company anticipates that Offering will consist of a minimum of US$25 million and a maximum of US$32 million in common shares of the Company.

The Company expects to use the proceeds of the Offering to finance the previously-announced transaction involving the transfer of the Company's Nevada based properties into a new publicly-listed company and the acquisition by that new company of the Nevada based mining assets of Carl and Janet Pescio, and for general working capital and general corporate purposes.

Sprott Securities Inc. will act as lead agent in respect of the Offering.

These shares will be issued pursuant to an effective shelf registration statement. This press release shall not constitute an offer to sell or a solicitation of an offer to buy common shares nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of a prospectus forming part of the effective registration statement and an accompanying prospectus supplement.

Copies of the preliminary prospectus supplements, once filed, and the base shelf prospectuses may be obtained from Sprott Securities Inc. (attn: Susan Samila-Moroz), Suite 2800, South Tower, Royal Bank Plaza, Toronto, Ontario, M5J 2J2, Tel# (416) 943-6401 and Fax # (416) 943-6496. When a prospectus supplement relating to the Offering has been filed with the SEC, it will be available along with the base prospectus filed with the SEC in connection with the shelf registration, on the SEC's website at http://www.sec.gov/. Copies of any prospectus supplements filed with the securities regulatory authorities in Canada will be available, along with the Canadian base shelf prospectus, on the internet at http://www.sedar.com/.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 those relating to the proposed equity financing by Vista, are forward-looking statements. The timing, occurrence and results of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, capital market conditions, risks relating to fluctuations in the price of gold and uncertainties concerning reserve and resource estimates, 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce the appointment of Mr. Frederick H. Earnest as Senior Vice President, Project Development effective September 22, 2006. Mr. Earnest holds a B.S. in Mining Engineering from Colorado School of Mines. He has over 20 years experience in the mining industry, including management of engineering and technical services, general manager and, most recently, as President of Pacific Rim El Salvador, S.A. de C.V. At Pacific Rim, he was responsible for all Latin American operations including the development of the El Dorado project that, when completed, will be El Salvador's first commercial gold mine in 50 years and is expected to produce over 100,000 ounces of gold per year. At El Dorado, he had in-country involvement in community relations, environmental stewardship, permitting, government relations and feasibility preparation. Previously, as General Manager and Legal Representative for Compania Minera Dayton, he was responsible for the low-grade, heap-leach Andacollo gold operation in Chile that produced up to 135,000 ounces of gold per year. At Vista, his duties will include advancing the Corporation's projects toward production decisions, which will involve managing technical and feasibility studies, acquiring environmental permits, and negotiating with governmental officials and private landowners and stakeholders.

Mike Richings, Vista President and CEO, commented, "We are very happy to have Fred Earnest join us in this capacity. We see his experience and skills in developing and managing mines to be of great benefit as we advance Awak Mas, Mt. Todd, Paredones Amarillos, Yellow Pine and our other projects through the development and permitting pipeline towards production. As well, his experience and command of the Spanish language will be significant in advancing our Mexican projects."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's businesses, operations, plans 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. The statements made in this press release about anticipated mine development and advancement are forward-looking statements. Other forward-looking statements include but are not limited to those with respect to future financings, reserve and resource estimates and production costs. 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 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; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that its Board of Directors, and its Special Committee of independent directors, met today regarding the proposed transaction, previously announced in the Corporation's press release dated July 10, 2006, that would result in the spin-off of the Corporation's Nevada based properties into a new publicly-listed company and the acquisition by that new company of the Nevada based mineral assets of Carl and Janet Pescio (the "Pescios"). The Board approved the arrangement and merger agreement and other matters relating to the transaction. Securityholders of the Corporation will be asked to approve matters relating to the transaction at a meeting currently scheduled for November 15, 2006 (with a record date of October 10, 2006). In addition, the Corporation has confirmed that the name of the new company will be "Allied Nevada Gold Corp.", and announced the hiring of the President and Chief Executive Officer and the appointment of the initial board of directors, for the new company.

Completion of the transaction remains subject to a number of conditions, including receipt of all required court, shareholder, regulatory and third party approvals and certain other customary conditions. These conditions also include the requirement for Vista to complete an equity financing that raises proceeds of not less than US$25 million. The purpose of this funding is to provide the initial funding for Allied Nevada.

Subject to receipt of the required approvals, the transaction is currently expected to close in late November 2006.

If approved by shareholders, court and regulatory authorities, the formation of Allied Nevada will result in a company that controls or has royalty interests in approximately 190,000 acres of prospective patented and unpatented mining claims in known mineralized trends of Nevada, a war chest of funding to advance its exploration and development efforts, and income from advance minimum royalty payments. In addition to holding one of the largest mineral claim land positions in Nevada, Allied Nevada will hold the Hycroft mine, an advanced stage project, and other advanced exploration projects including Wildcat, Maverick Springs and Mountain View.

A highly experienced exploration and management mining team will be assembled under the direction of Mr. Scott Caldwell of Reno, Nevada, who was named President and CEO of the new company. He most recently held the position of Executive Vice President and COO of Kinross Gold Corporation, and also served on the Kinross Board of Directors for a number of years. In this capacity, Mr. Caldwell was a key member of the executive team that was involved in the growth and operating activities of Kinross. Prior to joining Kinross, Mr. Caldwell held various executive and senior management positions in the mining industry, and has extensive mine development, and operating expertise. Most notably, he was involved in the development of the Grasberg and Collahuasi copper projects. He holds a BS degree in Mining Engineering from the University of Arizona.

The proposed members of the board of directors of Allied Nevada include Robert Buchan, Scott Caldwell, W. Durand Eppler, Terry M. Palmer, Carl A. Pescio and Michael B. Richings. All have substantial experience in the mining industry. Initially, the directors are Scott Caldwell, Terry Palmer and Mike Richings. Additional information regarding the proposed board members and their related experience is set out below.

Terry M. Palmer, CPA, was with the major accounting firm of Ernst & Young for 36 years, the last 23 years as a partner. Specializing in mining companies, he was responsible for the accounts of several large mining companies based in Denver. In addition, he has advised clients in business and strategic planning, and merger and acquisition activities. He is a director and Chairman of the audit committee of Apex Silver Mines Limited.

Michael B. Richings was first appointed President and CEO of Vista Gold Corp. in June 1995 and served until he retired in September 2000. He resumed these duties in May 2004 following the sudden death of the then President/CEO. Mr. Richings has been a director of Vista since May 1995. He has held senior operating and development positions, including President of Lac South America, where in addition to responsibility for the El Indio gold mine, he oversaw the development and construction of the El Tambo gold mine. He is a mining engineer with an A.C.S.M. from Camborne School of Mines and M.Sc. from Queens University.

Robert Buchan has had a distinguished career in the mining industry starting in the areas of financial services and merchant banking. In 1993, he initiated the creation of Kinross Gold Corporation, which grew during his tenure to the seventh largest primary producer of gold in the world, with a market capitalization of U.S. $2.5 billion. Mr. Buchan left Kinross in 2005 and joined Quest Capital Corp. as Executive Chairman. He holds a degree in Mining Engineering from Herriot-Watt University in Edinburgh and an MS degree in Mineral Economics from Queen's University in Ontario.

W. Durand Eppler is the Chief Executive Officer of Sierra Partners, LLC, a Denver-based private investment group, and Chief Executive Officer and Director of Coal International Plc, a London Stock Exchange-listed coal mining and investment company. Previously, he served as Vice President of Newmont Mining Corporation from 1995-2004, following a 20-year career in resource banking, principally with the Chemical Banking Corporation in New York. He is a director of Vista Gold Corp. and Augusta Resource Corporation. Mr. Eppler received an MS degree in Mineral Economics from Colorado School of Mines and holds a BA from Middlebury College.

Carl A. Pescio started his career as a geologist with Kennecott Copper Corporation in 1974 and moved to Silver King Mines/Alta Gold Co., ultimately assuming the position of Vice President, Mining and Exploration. Mr. Pescio has mining operations and project development experience. In 1991, he became a prospector/property generator, and since that time, has become one of the largest private mining claim holders in Nevada. Mr. Pescio controls or holds royalty interests in 53 prospective Nevada gold exploration properties, covering approximately 220 square miles, and has joint venture/option agreements with senior, mid-tier and junior companies on 52 of the properties. Mr. Pescio is a director of Tornado Gold International Corp., a gold exploration company.

Mike Richings, Vista President and CEO, commented, "We are very excited for our shareholders to be at this point in time with the possible spin-off of a pure Nevada, pure gold play. The addition of Scott Caldwell as President of the new company, Allied Nevada Gold Corp., and the ongoing formation of its board of directors with their varied skills and experience in the mining industry is a big step forward for the new company. We look forward to exciting times ahead as Allied Nevada Gold Corp., with its anticipated large, prospective land package, moves into exploration, development and possibly gold production during a time of heightened interest in the gold industry in Nevada, which is widely recognized as the best place in the world to explore for and to mine gold."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Allied Nevada's businesses, operations, plans 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. The statements made in this press release about the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Allied Nevada, as well as the benefits expected to result from the contemplated transaction, are forward-looking statements. Other forward-looking statements include but are not limited to those with respect to future financings, reserve and resource estimates and production costs. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista and Allied Nevada, including anticipated consequences of the contemplated transaction described herein, 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 that Vista's or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the countries in which they operate; risks due to legal proceedings; uncertainty of being able to raise capital on favorable terms or at all; and risks that may affect Vista's ability to complete the proposed spin-off transaction including risks that Vista may be unable to obtain required securityholder, court or third party approvals; 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. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier, +1-720-981-1185, for Vista Gold Corp.

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce initial results from a drill program underway at its Awak Mas project in South Sulawesi, Indonesia. The Corporation is conducting a diamond core drilling program totaling approximately 2,600 meters in 12-13 holes. Nine of the holes are located near the edge of the existing resource where previous drilling was too wide-spaced to calculate measured or indicated resources for the mineralization in the area. Three additional holes are being drilled approximately 750 meters to the west in a higher grade portion of the deposit where existing drill density is too widely-spaced to allow adequate modeling of the deposit.

The drilling program began May 31, 2006, and is continuing under the overall supervision of Howard Harlan, CPG, R.G., Vista's Vice President of Business Development. Mr. Harlan is a qualified person for the purposes of Canadian National Instrument 43-101. The current core drilling program is being conducted by R&B Drilling of Jakarta, Indonesia, and the assaying is being done by Intertek Laboratories of Jakarta, Indonesia, which holds ISO 17025 accreditation. All holes were angle holes drilled to attempt to intersect mineralization at right angles to thickness. Sampling and assaying methods are being conducted in accordance with Canadian National Instrument 43-101 best practices. All samples taken were one meter in length.

At present, nine holes have been completed on the eastern edge of the Lematik deposit and assay results have been received for the first seven holes. The assays include the following highlights:

                       Thick-                           Thick-
             Interval  ness  Assay in opt    Including  ness   Assay in opt
  Drill Hole   (m)      (m)   (and g/t)         (m)      (m)    (and g/t)
   RTD - 01  21 - 33    12  0.055  (1.90)
             69 - 73     4  0.092  (3.16)
             90 - 172   82  0.057  (1.95)
                                              90 - 144   54    0.067 (2.31)

            182 - 200   18  0.051  (1.74)
                                             191 - 200    9    0.070 (2.41)

   RTD - 02   60-68      8  0.172   (5.88)
            139 - 153   14  0.034   (1.18)   145 - 150    5    0.060 (2.05)
            172 - 190   18  0.069   (2.35)   179 - 188    9    0.125 (4.27)

   RTD - 03   19-May    14  0.063   (2.17)
              51-56      5  0.056   (1.93)
              89-105    16  0.088   (3.03)
             129-132     3  0.094   (3.22)
            138 - 177   39  0.041   (1.42)   164 - 177   13    0.067 (2.30)

   RTD - 04  54 - 102   48  0.039   (1.32)
            118 - 182   64  0.057   (1.97)
   RTD - 05  105 -112    7  0.107   (3.68)
            159 - 165    6  0.157   (5.39)
            178 - 202   24  0.111   (3.79)   178 - 196   18    0.139 (4.75)

             210-230    20  0.053   (1.80)
   RTD - 06  45 - 54     9  0.081   (2.77)
             63 - 68     5  0.213   (7.29)
            127 - 139   12  0.060   (2.06)
            157 - 191   34  0.046   (1.59)
   RTD - 07  21 - 39    18  0.093   (3.20)     27 - 35    8    0.173 (5.92)

            115 - 152   37  0.087   (2.97)   129 - 152   23    0.107 (3.66)

            171 - 195   24  0.047   (1.60)
            204 - 217   13  0.084   (2.87)

Also, as previously reported by the Corporation in press releases dated April 18, 2005, and November 2, 2004, a resource analysis prepared in October 2004 by RSG Global Pty Ltd of West Perth, Australia, an independent consulting firm, using industry standard methodology and software, in accordance with Canadian National Instrument 43-101 guidelines under the supervision of Brett Gossage, a qualified person, showed the known deposit, at a reported cutoff grade of 0.5 grams gold per tonne, to contain measured resources of 16,865,000 short tons at a grade of 0.034 ounces per ton containing 583,000 gold ounces(1), indicated resources of 35,750,000 short tons at a grade of 0.030 ounces per ton containing 1,072,000 gold ounces(1) and inferred resources of 8,250,000 short tons at a grade of 0.032 ounces per ton containing 259,000 gold ounces(2). There are no known environmental, permitting, legal or other issues that could materially impact this estimate.

Based on subsequent field work and a re-interpretation of the ore zones, Vista decided to undertake a new resource estimate. This work is now underway with Ore Reserve Engineering of Lakewood Colorado, an independent consulting firm, under the direction of Alan Noble, a qualified person, in accordance with Canadian National Instrument 43-101. The resource analysis will include the results of 85,030 assay intervals from 814 core and reverse circulation drill holes done by Battle Mountain Gold, Lone Star and Masmindo from 1991 through 1997 with assaying by Inchcape Testing Services, as well as the information gathered in the current drill program.

Vista has also contracted with M.W.H. Global to conduct additional geotechnical studies of slope stability in the area of the proposed open pit to support more detailed modeling of a pit to mine the drilled resource. This information and other technical parameters will be used in a feasibility study in 2007 of a potential mine development of Awak Mas.

Mike Richings, President and CEO, commented, "We are pleased with the results from these drill holes, as they confirm the continuity of the mineralization and are substantially higher grade than the estimated average grade of the measured and indicated resources. We also note that the work undertaken on the project by its employees and contractors is being completed with a high level of competence and efficiency. We are also pleased with the cooperation of Indonesian authorities in advancing this potentially attractive new development project."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

  (1)  Cautionary Note to U.S. Investors concerning estimates of Measured
       Resources and Indicated Resources: This press release 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 press release 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 other
       economic study. 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 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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its 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. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today that it has filed a shelf registration statement with the U.S. Securities and Exchange Commission (the "Commission") which, when effective, will permit the Corporation, from time to time, to offer and sell up to 4 million common shares through one or more methods of distribution, subject to market conditions and the Corporation's capital needs. Although the Corporation currently has no commitments to sell common shares under the registration statement, the Corporation anticipates that some or all of the registered shares will be issued to raise proceeds of US$25-32 million, of which approximately US$25 million is to be invested in a company to be spun-off by the Corporation. The proposed spin-off transaction was previously announced in the Corporation's press release dated July 10, 2006 and Form 8-K filed with the Commission on July 12, 2006 (as amended by Forms 8-K/A filed on August 16, 2006 and August 25, 2006), which set forth terms of a letter of intent (as amended) with respect to the transaction.

A registration statement relating to these securities has been filed with the Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Any offering of securities covered by the registration statement will be made only by means of a prospectus and related prospectus supplement. When available, copies of the prospectus and related prospectus supplement may be obtained from the Corporation. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management of the Corporation expects or anticipates will or may occur in the future, including those relating to the proposed equity financing by the Corporation, are forward-looking statements. The timing, occurrence and results of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, capital market conditions, risks relating to fluctuations in the price of gold and uncertainties concerning reserve and resource estimates, as well as those factors discussed in the Corporation's latest Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission. Although the Corporation 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. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today that it plans to file a shelf registration statement with the U.S. Securities and Exchange Commission (the "Commission") relating to the proposed registration for offering of up to four million common shares from time to time and through one or more methods of distribution, subject to market conditions and the Corporation's capital needs. The Corporation anticipates that some or all of the registered shares will be issued to raise approximately US$25 million to be invested in a company to be spun off by the Corporation. The proposed spin-off transaction was previously announced in the Corporation's press release dated July 10, 2006, and Form 8-K filed with the Commission on July 12, 2006, which set forth terms of a letter of intent ("LOI") with respect to the transaction.

The proposed registered offering by the Corporation represents a change in funding plans in lieu of the previously contemplated private placement to be undertaken by the spun-off company under the terms of the LOI as initially reported. On August 15, 2006, the LOI was amended to provide for this change among other matters. The Corporation is filing an amendment to the above Form 8-K to provide additional information about the amendment including the foregoing change.

The exact timing of the Vista financing and details about pricing and other matters will be disclosed once they have been finalized.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the Securities Act of 1933, as amended, and applicable securities laws of any such state or jurisdiction.

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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. 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 those relating to the proposed equity financing by the Corporation, are forward-looking statements. The timing, occurrence and results of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, capital market conditions, risks relating to fluctuations in the price of gold and uncertainties concerning reserve and resource estimates, as well as those factors discussed in the Corporation's latest Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announced today its financial results for the quarter and six months ended June 30, 2006, as filed on August 8, 2006, with the US Securities and Exchange Commission in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended June 30, 2006, of US$0.93 million or US$0.04 per share compared to a consolidated net loss of US$1.45 million or US$0.08 per share for the same period in 2005. The Corporation's consolidated net loss for the six-month period ended June 30, 2006, was US$2.0 million or US$0.09 per share compared to a consolidated net loss of US$2.4 million or US$0.13 per share for the same period in 2005. The net losses for the three-month and six-month periods decreased from those for the prior-year periods by US$0.52 million and US$0.37 million, primarily reflecting increased interest income of US$0.17 million and US$0.20 million from the respective prior periods, decreased stock-based compensation expense of US$0.06 million and US$0.11 million from the respective prior periods, and decreased corporate administration and investor relations costs of US$0.27 million and US$0.03 million from the respective prior periods.

Net cash used in operations was US$1,105,000 for the three-month period ended June 30, 2006, compared to US$1,127,000 for the same period in 2005. Cash used in operations was US$2,146,000 for the six-month period ended June 30, 2006, compared to US$1,819,000 for the same period in 2005. The slight decrease of US$22,000 for the three-month period can be attributed to a decreased consolidated net loss of US$524,000 and an aggregate reduction of non-cash items of $82,000; partially offset by a reduction in accounts payable of US$169,000, an increase in supplies and prepaid expenses of US$174,000 and an increase in accounts receivable of US$77,000. The increase of US$327,000 for the six-month period can be attributed to an increase in accounts receivable of US$353,000, a reduction in accounts payable of US$190,000, and an increase in supplies and prepaid expenses of US$77,000; partially offset by a decreased consolidated net loss of US$374,000 and an aggregate reduction of non-cash items of US$84,000.

Net cash used for investing activities decreased to US$830,000 for the three-month period ended June 30, 2006, compared to US$1,964,000 for the same period in 2005. The decrease of US$1,134,000 in 2006 primarily reflected the purchase of the Awak Mas Project in 2005 for US$1.5 million. There was no comparable investment during the 2006 period. For the six-month period ended June 30, 2006, net cash used for investing activities increased slightly by US$51,000 to US$2,279,000 (including the Corporation's expenditure of US$1.3 million for the Mt. Todd gold mine in June 2006) compared to US$2,228,000 for the same period in 2005. The slight increase is mostly the result of increased acquisitions of marketable securities of US$188,000 and increased purchases of plant and equipment of US$63,000, which are offset by increased proceeds from the sale of marketable securities of US$60,000.

Net cash provided by financing activities was US$19,834,000 in the three-month period ended June 30, 2006. There was no cash provided from financing activities for the same period in 2005. For the 2006 period, warrant exercises provided cash of US$19,676,000 and stock option exercises provided cash of US$186,000. These amounts were slightly offset by additional share registration expenses attributable to the February 2006 private placement of US$28,000.

Net cash provided by financing activities was US$25,290,000 for the six-month period ended June 30, 2006, compared to US$398,000 for the same period in 2005. For the 2006 period, a private placement financing completed in February 2006 provided net cash proceeds of US$3,184,000, warrant exercises provided cash of US$21,627,000 and stock option exercises provided cash of US$355,000. The amounts raised in the 2005 six-month period were from the exercise of warrants in the amount of US$373,000 and stock options in the amount of US$25,000, all during the first quarter.

At June 30, 2006, the Corporation's total assets were US$62.1 million compared to US$38.0 million at December 31, 2005, representing an increase of US$24.1 million. At June 30, 2006, the Corporation had working capital of US$23.9 million compared to US$2.6 million at December 31, 2005, representing an increase of US$21.3 million. This increase is primarily attributable to an increase in the Corporation's cash balance due to warrant exercises resulting from the acceleration of the expiry of warrants issued in connection with the Corporation's February 2003 and September 2004 private placements.

The principal component of working capital at both June 30, 2006, and December 31, 2005, is cash and cash equivalents of US$22.9 million and US$2.0 million, respectively. Other components include marketable securities (June 30, 2006 - US$644,000; December 31, 2005 - US$468,000), supplies inventory, prepaids and other (June 30, 2006 - US$595,000; December 31, 2005 - US$481,000) and other liquid assets (June 30, 2006 - US$156,000; December 31, 2005 - US$118,000). At June 30, 2006, the Corporation had no outstanding debt to banks or financial institutions.

The selected financial data including the results of operations for the three-month and six-month periods ended June 30, 2006 compared to 2005, and the financial positions as at June 30, 2006 compared to December 31, 2005, is summarized in the following table:

    Selected                   Three Months               Six Months
  Financial Data              Ended June 30,             Ended June 30,
                            2006         2005         2006         2005
  U.S. $000's, except
   loss per share

  Results of operations
  Net loss                 $(926)    $ (1,450)     $(2,034)    $ (2,408)
  Basic and diluted
   loss per share          (0.04)       (0.08)       (0.09)       (0.13)

  Net cash used in
   operations             (1,105)      (1,127)      (2,146)      (1,819)
  Net cash used in
   investing activities     (830)      (1,964)      (2,279)      (2,228)
  Net cash provided by
   financing activities   19,834           --       25,290          398


  Financial position      June 30,    December 31,
                            2006         2005

  Current assets         $24,287       $3,094
  Total assets            62,078       37,999
  Current liabilities        342          452
  Total liabilities        4,481        4,596
  Shareholders' equity    57,597       33,403

  Working capital         23,945        2,642

On Monday August 14, 2006, at 10:00 A.M. (MDT), the Corporation will have a webcast to discuss the financial results for the period ended June 30, 2006, and the other current business activities of the Corporation. This webcast can be listened to by visiting the Corporation's website at www.vistagold.com.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has entered into a binding letter of intent with Carl and Janet Pescio, Greg Hryhorchuk and Robert Lipsett (together, the "Pescio Group"), pursuant to which, Vista will spin off its existing Nevada properties into a new publicly-listed company ("Newco") that will, concurrently with the spin-off, acquire the Nevada mining properties of the Pescio Group. The transaction will be completed by way of a court-approved plan of arrangement under the Business Corporations Act (Yukon). Vista management believes that the combined properties of Vista and the Pescio Group would represent one of the largest exploration packages ever assembled in Nevada with approximately 190,000 acres of prospective patented and unpatented mining claims. The transaction is subject to, among other things, court, shareholder and regulatory approvals.

Details of the Transaction

Under the transaction, Vista's shareholders will exchange their current common shares of Vista for common shares of Newco and new common shares of Vista. The effect of the transaction on existing outstanding options and warrants to acquire shares of Vista will be described in the information circular for the special meeting of shareholders to approve the transaction.

Completion of the transaction is subject to a number of conditions including: (a) completion of due diligence by all parties; (b) the execution and delivery of a definitive agreement by all parties; (c) receipt of all required court, shareholder, regulatory and third party approvals; (d) receipt of approval by the board of directors of Vista and its independent committee; and (e) certain other customary conditions. In addition, in order to fund the cash consideration to the Pescio Group (as described below) and its ongoing business, it is anticipated that Newco will raise at least US$40 million through a private placement equity financing which will close concurrently with the completion of the transaction described above.

Under the terms of the proposed transaction, approximately 60% of the total consideration payable by Newco in respect of the asset acquisitions would be paid to Vista or its security holders and approximately 40% would be paid to the Pescio Group. The consideration payable to Vista and its security holders will consist of securities of Newco. The consideration payable to the Pescio Group will consist of shares of Newco and US$15 million in cash. Vista has retained Sprott Securities Inc. of Toronto, Ontario, an independent investment banking firm, to provide it with a fairness opinion in respect of the proposed transaction.

The parties are working towards completing a definitive agreement after which, Vista expects to deliver to shareholders an information circular, which will fully describe the proposed transaction, in connection with a special meeting of shareholders which will be held to approve the transaction. If all conditions are satisfied or waived, the parties expect closing of the transaction to occur by mid September 2006.

The Pescio Group's Properties

The Pescio Group is the underlying landowner and royalty holder on 53 mineral properties in north central Nevada covering approximately 139,000 acres. Over a fifteen-year period, geologist Carl Pescio assembled the property portfolio, approximately one-half of which is in the principal Nevada gold trends of Carlin, Cortez and Battle Mountain. All of the properties are optioned to junior and major companies and the Pescio Group's retained royalty interest averages 3.6% on the properties. The Pescio Group's retained royalty interests realized US$1.6 million in advance minimum royalty revenues in 2005 and according to the option agreements, the advance minimum royalty payments are scheduled to increase in the future. Vista understands that: technical reports compliant with Canadian National Instrument 43-101 have been completed for 25 of these properties, including two properties for which gold resource estimates conforming to NI 43-101 standards have been completed and one property for which historical gold resource estimates have been completed. Further details regarding these properties will be contained in the information circular for the special meeting of shareholders to be held to approve the proposed transaction.

Vista's Nevada Properties

As previously announced, including the Hycroft Mine, Vista owns six properties in Nevada with measured and indicated gold resources totaling 3.3 million ounces plus inferred gold resources totaling 1.6 million ounces. The Hycroft Mine is positioned to resume production at current gold prices. As a result of Vista's acquisition of F.W. Lewis, Inc. in December 2005, Vista also controls 53 exploration properties in Nevada of which three properties are farmed out for exploration under options to purchase. The three options to purchase currently provide Vista with income of approximately US$53,000 per year. Vista's 59 Nevada properties total approximately 51,000 acres of patented and unpatented mining claims.

Rationale for the Transaction

Vista believes that the current market price of its securities does not adequately reflect the underlying value of its Nevada properties. By spinning these Nevada assets off into Newco and adding the Nevada-based assets of the Pescio Group to create a single, Nevada-focused gold company, Vista believes that its shareholders will be more likely to realize the value of those underlying assets over time.

Newco's business plan will involve using the best available management and geologic talent to expand existing discoveries, with the initial priority and emphasis to be placed on the evaluation of the deeper, high-grade potential at Hycroft and to generate drill-ready targets for substantial exploration programs. Development of the existing Hycroft reserve may be deferred until the drill program and evaluation of the potentially larger resource are completed.

A management team comprised of Nevada-experienced exploration geologists and personnel together with a well-proven group of experienced and committed directors, including Carl Pescio, are being assembled to direct the activities of Newco. Over the next few weeks, Vista will provide shareholders and investors with more comprehensive information on the properties, plans, management and board of Newco.

Mike Richings, Vista President and CEO commented: "The package of properties assembled by Carl Pescio cannot be replicated. The option agreements with the advance minimum royalty payments will generate future revenues, while significant exploration programs are undertaken. We believe that the steps we are taking to put Mr. Pescio's land holdings together with Vista's assets in Nevada will increase the total value of the investment shareholders have made in Vista. If the transaction is completed, Vista shareholders will own shares in both Vista and Newco and we believe both companies will be more likely to be fully valued by the market than if all the properties were held together in one company."

"Vista, with its strong balance sheet, will continue to focus on increasing and adding value to our excellent portfolio of properties. Remaining in Vista will be seven properties containing a total of 9.7 million ounces of gold in measured and indicated resources with an additional 3.6 million ounces of gold in inferred resources. These include two properties which are well advanced: Paredones Amarillos in Baja California Sur, Mexico, with 1.6 million ounces of gold of contained reserves with an estimated cash operating cost of $292 per gold ounce; and Mt. Todd in the Northern Territory, Australia, which contains a total of 1.8 million ounces of gold in measured and indicated resources and 1.5 million ounces of gold in inferred resources. Vista is currently undertaking an update of the permits and infrastructure requirements at Paredones Amarillos and preliminary economic and technical studies on Mt. Todd."

"I look forward to presenting our shareholders and investors the details of our plans in the near future, and introducing Newco's well-qualified management and board team which we are assembling to execute the plan."

About Vista Gold Corp.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

Cautionary Notes to U.S. Investors Concerning Reserve and Resource Estimates

The estimates of mineral reserves shown in this press release have been prepared in accordance with Canadian National Instrument 43-101. The definitions of proven and probable reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Accordingly, the disclosure of mineral reserves herein may not be comparable to information from U.S. companies subject to the SEC's reporting and disclosure requirements.

This press release uses the term "measured and indicated 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. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves.

This press release also 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.

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. 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 future business strategy, competitive strengths, goals, expansion and growth of Vista's or Newco's businesses, operations, plans 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. The statements made in this press release about the anticipated impact the contemplated transaction described herein may have on the operations of Vista or Newco, as well as the benefits expected to result from the contemplated transaction, are forward-looking statements. Other forward-looking statements include but are not limited to those with respect to future financings, reserve and resource estimates and production costs. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista and Newco, including anticipated consequences of the contemplated transaction described herein, to be materially different from any future risks, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks that Vista's or Newco'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 or Newco's operations of environmental regulations in the countries in which they operate; and uncertainty of being able to raise capital on favorable terms, as well as those factors discussed in the Corporation's latest Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that a mineral resource analysis for the Batman deposit at the Mt. Todd gold mine was completed on June 26, 2006, by Gustavson Associates of Boulder, Colorado, in accordance with Canadian National Instrument 43-101 standards under the direction of Mr. John Rozelle, an independent Qualified Person, utilizing standard industry software and resource estimation methodology. The resource analysis report includes 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. ("Pegasus") with assaying by Australia Assay Laboratories in Pine Creek and Alice Springs, Classic Comlabs in Darwin and Pegasus' onsite lab. Pegasus mined part of the Batman deposit from 1993 to 1997, and a joint venture comprising Multiplex Resources Pty Ltd. and General Gold Resources Ltd. mined the deposit from 1999 to 2000 (for additional historical information and details on Vista's acquisition of the Mt. Todd gold mine, please see the Company's press release of February 28, 2006).

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 325o, dipping 40 to 60o to the southwest. Northerly trending sheeted quartz sulfide veins and joints striking at 0 to 20o and dipping 60o 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. These sheeted veins are the main source of gold mineralization in the Batman deposit. 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. It is the opinion of Gustavson Associates that quality control and quality assurance methods employed by the various companies working at Mt. Todd were standard at the time of the work, and the work including quality control and quality assurance methods has been audited several times by independent consultants.

Based on the resource analysis report, the gold resources for the Batman deposit, reported at a cutoff grade of 0.015 ounces of gold per ton are:

                             Short Tons         Grade        Contained Gold
                               (000s)      (ounces per ton)       Ounces
  Measured resources (1)       20,306            0.028             576,130
  Indicated resources (1)      41,840            0.028           1,181,620
  Measured and indicated
   resources (1)               62,146            0.028           1,757,750
  Inferred resources (2)       55,174            0.027           1,503,194


  (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.

On June 15, 2006, pursuant to the agreements entered into by the Company in connection with its acquisition of the Mt. Todd mine, as previously disclosed, the Mt. Todd project mineral leases were transferred to Vista's Australian subsidiary, Vista Gold Australia Pty. Ltd., and Vista completed the purchase on June 16, 2006, when funds held in escrow were released to the sellers. Vista has commissioned a scoping technical and economic review of the mine and plans to have this completed during 2006. The Company has initiated a comprehensive environmental review including a review of surface water management procedures and completed an initial metallurgical study that could result in improved processing technology. Vista plans to initiate a drill program during 2006 to infill areas classified as inferred resources with the intention of upgrading as much inferred resource as possible to the measured and indicated categories, to add additional ounces to the resources if possible and to obtain samples for metallurgical testing to confirm the flowsheet described in the preliminary metallurgical report.

In other news, the Company has initiated a core drilling program at the Awak Mas gold deposit in Indonesia designed to upgrade inferred gold resources to the measured and indicated categories and add to the resources, if possible. Vista has commissioned a resource modeling study to review past work and upgrade the tenor of the ore through elimination of dilution where possible. At the Paredones Amarillos gold property in Mexico, the Company is planning to update environmental permits to ready the project for possible production. In Nevada, the Company continues to consider alternative approaches to realize value inherent in Vista's assets.

Mike Richings, Vista President and CEO, stated, "The completion of the resource estimate under 43-101 standards is the first step in getting Mt. Todd ready to go back into production. We believe the changes to the processing of the ore we are proposing will remedy the technical issues that hampered previous producers at Mt. Todd. The environmental study and the scoping economic study should provide us with information about the price of gold necessary to make Mt. Todd an economic success and to eventually close the mine in an environmentally acceptable manner. Meanwhile, other projects are moving forward, especially Awak Mas and Paredones Amarillos. And we are actively considering strategies to effectively realize value for our shareholders from our Nevada properties."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announced today its financial results for the three months ended March 31, 2006, as filed on May 15, 2006, with the US Securities and Exchange Commission in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended March 31, 2006 of US$1.1 million or US$0.05 per share compared to a consolidated net loss of US$1.0 million or US$0.05 per share for the same period in 2005. The small increase in the net loss for the first quarter of 2006 compared to the prior-year period primarily reflected increases in corporate administration and investor relations costs of US$0.2 million, partially offset by decreases in stock-based compensation expense and exploration, property evaluation and holding costs, and increases in interest income and in gains on the sale of marketable securities.

Net cash used for operations for the three-month period ended March 31, 2006, was US$1.0 million compared to US$0.7 million for the same period in 2005. The increase of US$0.3 million for the three-month period can be attributed to reduction in accounts receivable from the same period in 2005.

Net cash used for investing activities increased to US$1.4 million for the three-month period ended March 31, 2006, compared to US$0.3 million for the same period in 2005. The increase of US$1.1 million is mostly the result of Vista Gold placing funds in escrow for the acquisition during the 2006 first quarter of the Mt. Todd gold mine in Northern Territory, Australia. The acquisition is expected to be complete and escrow funds distributed early in the third quarter.

Net cash provided by financing activities for the three-month period ended March 31, 2006, increased to US$5.5 million from US$0.4 million for the same period in 2005. In February 2006, the Corporation completed a non-brokered private placement financing consisting of 649,684 equity units, each priced at US$5.05. Each equity unit consisted of one common share and one warrant. Net proceeds from the financing were US$3.21 million consisting of gross proceeds of US$3.28 million offset by legal fees and costs to register shares of US$69,147. Warrants exercised during the period ended March 31, 2006, produced cash proceeds of US$2.0 million compared to US$0.4 million for the same period in 2005. Stock option exercises produced cash of US$293,000 during the period ended March 31, 2006 compared to US$25,000 for the same period in 2005. Subsequent to March 31, 2006, proceeds for warrants exercised through May 9, 2006, were US$12,597,111 and proceeds from the exercise of options were US$58,660.

The financial position of the Corporation at March 31, 2006, included current assets of US$7.1 million compared to US$3.1 million at December 31, 2005, and total assets of US$42.3 million compared to US$38.0 million at December 31, 2005.

Current liabilities were US$0.4 million at March 31, 2006, approximately the same as at December 31, 2005. Total liabilities at March 31, 2006, were US$4.6 million, also approximately the same as at December 31, 2005. Shareholders' equity at March 31, 2006, was US$37.8 million compared to US$33.4 million at December 31, 2005.

The Corporation's working capital as of March 31, 2006, was US$6.6 million compared to US$2.6 million at December 31, 2005.

The selected financial data including the results of operations for the three-month period ended March 31, 2006, compared to the same period in 2005 and the financial position as of March 31, 2006, compared to December 31, 2005, are summarized in the following table:

  Selected Financial Data                       Three Months Ended March 31,
                                                   2006          2005

  U.S. $000's, except loss per share

  Results of operations
  Net loss                                        $(1,108)         $(958)
  Basic and diluted loss per share                  (0.05)         (0.05)

  Net cash used in operations                      (1,041)          (692)
  Net cash used in investing activities            (1,449)          (264)
  Net cash provided by financing activities         5,456            398


  Financial position                              March 31,     December 31,
                                                    2006           2005

  Current assets                                   $7,059         $3,094
  Total assets                                     42,348         37,999
  Current liabilities                                 422            452
  Total liabilities                                 4,563          4,596
  Shareholders' equity                             37,785         33,403

  Working capital                                   6,637          2,642

The annual general meeting of the Corporation's shareholders was held on May 8, 2006. Re-elected to the Board of Directors for a one-year term were John M. Clark, W. Durand Eppler, C. Thomas Ogryzlo, Robert A. Quartermain and Michael B. Richings. PricewaterhouseCoopers LLP was re-appointed independent auditor. An amendment to the Corporation's Stock Option Plan was approved increasing the maximum number of Common Shares which may be issued under the Plan from 1,750,000 Common Shares to a variable amount equal to 10% of the issued and outstanding Common Shares on a non-diluted basis.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announces that, in accordance with the terms of the Corporation's outstanding common share purchase warrants (the "February 2003 Warrants") issued under a Warrant Indenture dated February 7, 2003, and the outstanding common share purchase warrants (the "September 2004 Warrants" and with the February 2003 Warrants, the "Warrants") issued under a Warrant Indenture dated September 29, 2004, the Corporation has elected to accelerate the expiry date of all such currently outstanding Warrants since the "Acceleration Event" described in the applicable warrant indentures has occurred.

For the February 2003 Warrants, the Acceleration Event occurred on April 26, 2006, because the closing price of the Corporation's common shares on the American Stock Exchange exceeded 150% of the current exercise price (US$4.28) for the 15 consecutive trading days prior to that date. For the September 2004 Warrants, the Acceleration Event occurred on April 28, 2006, because the closing price of the Corporation's common shares on the American Stock Exchange equaled or exceeded US$5.50 for the 20 consecutive trading days prior to that date.

The expiry date of the February 2003 Warrants will now be May 17, 2006, and the expiry date of the September 2004 Warrants will now be May 19, 2006. The Warrants must be exercised by 4:30 p.m. (Vancouver time) on the respective expiry dates, failing which they will expire. Notices of acceleration of the expiry were sent on April 26, 2006, to holders of the February 2003 Warrants and were sent on April 28, 2006, to holders of the September 2004 Warrants.

Of the February 2003 Warrants, there are currently 574,000 outstanding, exercisable at US$4.28 per share, for potential aggregate proceeds to the Corporation of US$2,456,720. Of the September 2004 Warrants, there are currently 1,459,798 outstanding, exercisable at US$4.75 per share, for potential aggregate proceeds to the Corporation of US$6,934,040.50. All of these common shares issuable upon exercises of the Warrants have previously been registered with the SEC for resale under the Securities Act of 1933 on registration statements on Form S-3.

The acceleration of the expiry date of the warrants above reflects an improved market for Vista shares caused in part by the recent significantly higher gold prices. The same higher gold prices mean that several of the projects that Vista owns would have improved economics and Vista plans to accelerate the evaluation and preliminary development engineering programs on the Paradones Amarillos, Mt. Todd and Hycroft projects. Depending on the amount of funds received, the Corporation will use some of the funds raised to carry out these value adding programs. Vista management will also be studying various approaches to better realize, for the benefit of its shareholders, the higher valuations the market gives gold projects in certain geographic locations or stages of development. These approaches will not, however, change Vista's basic business strategy.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announced today its financial results for the year ended December 31, 2005, as filed on March 31, 2006, with the U.S. Securities and Exchange Commission in the Corporation's Annual Report on Form 10-K. For the year ended December 31, 2005, Vista reported a consolidated net loss of US$4.6 million or US$0.24 per share compared to the 2004 consolidated net loss of US$4.9 million or US$0.31 per share. The decrease of US$0.3 million in 2005 is due to decreased stock-based compensation expense of US$0.6 million resulting from fewer stock option grants during 2005 as compared to 2004, an increased interest income of US$0.2 million due to increased investments in the Corporation's liquid savings account, partially offset by increased exploration and property evaluation costs of US$0.1 million and increased general and administrative costs of US$0.2 million.

The Corporation received net cash from financing activities of US$7.9 million in 2005 compared to US$9.8 million in 2004. Net cash used in investing activities in 2005 was US$8.4 million compared to US$6.1 million in 2004. This increase of US$2.3 million can be attributed to an increase of US$6.9 million for acquisitions of subsidiaries, net of cash, reflecting the acquisition of the Awak Mas project for US$1.6 million and the US$5.3 million cash expended as partial consideration for the acquisition of the F. W. Lewis, Inc, properties in 2005; this was offset by a decrease of US$3.1 million in expenditures for the restricted cash account that was established in 2004 and US$1.5 million for the premium payment for the bond at Hycroft in 2004. There were no comparable acquisition transactions in 2004. Net cash used for operations in both 2005 and 2004 was US$3.4 million. The unused cash received from financing activities in 2005 is on hand as working capital.

The financial position of the Corporation included current assets at December 31, 2005, of US$3.1 million compared to US$6.8 million at December 31, 2004 and total assets of US$38.0 million at December 31, 2005, compared to US$32.8 million at December 31, 2004. Total liabilities at December 31, 2005, were US$4.6 million compared to US$4.4 million at December 31, 2004; these liabilities included US$4.1 million in 2005 and US$4.2 million in 2004 for accrued reclamation and closure costs at the Hycroft mine which are offset by US$5.2 million in 2005 and US$5.1 million in 2004 in a restricted cash account which is included in total assets. Shareholders' equity was US$33.4 million at December 31, 2005, compared to US$28.3 million at December 31, 2004. The Corporation's working capital as of December 31, 2005, was US$2.6 million which decreased by US$3.9 million from US$6.6 million as of December 31, 2004. Subsequent to year end, the Corporation completed a non-brokered private placement which raised gross proceeds of approximately US$3.3 million, which were used to supplement the Corporation's working capital following expenditures for the acquisition of the F. W. Lewis, Inc. properties in December 2005.

  Selected Financial Data
                                        Years ended December 31
  U.S. $ 000's, except loss per share               2005           2004
  Results of operations
  Net loss                                         $(4,584)       $(4,924)
  Basic and diluted loss per share                  $(0.24)        $(0.31)
  Net cash used in operations                      $(3,379)       $(3,351)
  Net cash used in investing activities             (8,448)        (6,100)
  Net cash provided by financing activities          7,938          9,847
  Financial position
  Current assets                                    $3,094         $6,826
  Total assets                                      37,999         32,788
  Current liabilities                                  452            256
  Total liabilities                                  4,596          4,444
  Shareholders' equity                              33,403         28,344
  Working capital                                   $2,642         $6,570

The annual general meeting of the Corporation's shareholders has been scheduled for Monday, May 8, 2005, at 10:00 a.m., Vancouver time, at the offices of Borden Ladner Gervais LLP, Suite 1200, 200 Burrard Street, Vancouver, British Columbia, Canada.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F. W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Sulawesi in Indonesia and the Mt. Todd project in Australia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 signed agreements on March 1 (Australia time) with Ferrier Hodgson, the Deed Administrators ("Deed Administrators") for Pegasus Gold Australia Pty Ltd. ("Pegasus"), the government of the Northern Territory of Australia ("Territory") and the Jawoyn Association Aboriginal Corporation ("JAAC"), subject to regulatory approval, to purchase the Mt. Todd gold mine in the Northern Territory, Australia. As part of the agreements, Vista has agreed to undertake a technical and economic review of the mine and possibly form one or more joint ventures with the JAAC.

The agreement negotiated with the Deed Administrators calls for Vista to pay to Pegasus AUD $1,000,000 and for Vista to receive a transfer of the mineral leases and certain mine assets together with an assignment of all rights of Pegasus to the Mt. Todd property.

The agreement with the Territory is for an initial term of five years commencing January 1, 2006, with an extension of five years at Vista's option and three additional years possible at the option of the Territory. During the first year of the term, Vista will undertake a comprehensive technical and environmental review of the project to evaluate current site environmental conditions to result in a program to stabilize environmental conditions and minimize offsite contamination, review the water management plan with recommendations, and produce a technical report for the re-start of operations. During the term of the agreement, Vista will examine all technical economic and environmental issues, estimate site rehabilitation costs, explore and evaluate the potential of the project, and prepare a technical and economic feasibility study for the potential development of Mt. Todd.

Vista will pay the Territory's costs of management and operation of the Mt. Todd site up to a maximum of AUD $375,000 during the first year of the term, and assume site management and pay management and operation costs in following years. In the agreement, the Territory acknowledges its commitment to rehabilitate the site and that Vista has no rehabilitation obligations for pre-existing conditions until it submits and receives approval of a Mine Management Plan for the resumption of mining operations. Vista has retained MWH, one of the world's largest engineering firms specializing in environmental sciences, to assist with the preparation of the environmental review and water management studies. In addition, Resource Development Inc. of Colorado, a metallurgical consulting firm, has been retained to assist with metallurgical testing, process design and process cost input necessary for the technical review. Recognizing the importance placed by the Territory upon local industry participation, Vista has agreed to use, where appropriate, Northern Territory labor and services during the period of the agreement in connection with the Mt. Todd property, and further, that when a production decision is reached, to prepare and execute a local Industry Participation Plan.

The agreement with the JAAC calls for Vista to issue common shares of Vista with a value of CAD $1.0 million as consideration for the JAAC entering into the agreement and for rent for the use of the surface overlying the mineral leases during the period from the effective date until a decision is reached to begin production. Vista will also pay the JAAC AUD $5,000 per month in return for consulting with respect to Aboriginal, cultural and heritage issues. The JAAC will provide Vista with an office in Katherine (a regional center of population 11,000 approximately 50 kilometers from the mine site) and with secretarial services for a minimum of AUD $2,000 per month.

If the Mt. Todd project proves feasible for economic development of the mineral leases including a fully funded site reclamation bond, Vista will establish a technical oversight committee with representatives of the Territory and the JAAC. Additionally, Vista will offer the JAAC the opportunity for joint venture participation in the operation on a 90% Vista / 10% JAAC basis. For rent of the surface during production, Vista (or the Joint Venture if formed) will pay the JAAC an annual amount equal to 1% of the annual value of production with an annual minimum of AUD $50,000. As part of the agreement, Vista will endeavor to use services and labor provided by the JAAC when feasible. Vista and the JAAC may form a 50 / 50 exploration joint venture to explore JAAC lands outside the mineral leases.

Pegasus reported investing over U.S. $200 million to develop the Mt. Todd mine and operated it from 1993 to 1997, when the project was closed as a result of technical difficulties and low gold prices. The Deed Administrators were appointed in December 1997. Pegasus, through the Deed Administrators, sold the mine in March 1999 to a joint venture comprising Multiplex Resources Pty Ltd and General Gold Resources Ltd. The mine was operated from 1999 to 2000 by this joint venture. Following cessation of operations in July 2000, Pegasus, through the Deed Administrators, regained possession of various mine assets so as to recoup the balance of the purchase price owed to it. Most of the equipment and plant was sold in June 2001 and removed from the mine, but the tailings facility and raw water supply facility remain.

In 1995, a resource estimate for the Batman ore body down to a level of 302 meters below sea level was prepared by Mining and Resource Technology Pty. Ltd. ("MRT") for Zapopan NL (a predecessor company to Pegasus). MRT estimated that, prior to the commencement of mining, the measured and indicated resources in the Batman deposit were 190.92 million tonnes at a grade of 0.94 grams per tonne gold and containing 5.75 million ounces of gold. Based on a review of project files, Vista believes that approximately 24.6 million tonnes grading 1.05 grams per tonne gold and containing 826,000 ounces of gold were extracted between 1996 and the termination of mining in 2000. Other resource estimates have been made in the past, the most recent by General Gold in March 2000 just prior to mine closure and reflecting previously mined material. This estimate reported the measured and indicated resources to a level of 130 meters below sea level (172 meters shallower than the earlier estimate) to be 68 million tonnes at 0.99 grams per tonne gold and containing 2.17 million gold ounces (see Note 1). These estimates were prepared using similar methodologies; involving the preparation of a computer resource model, in which the volumes of mineralized material were estimated based on the chemical and statistical analyses of samples obtained from drill holes, taking into account geology, mineralization and alteration information obtained from surface mapping and examination of the drill samples. In the first estimate, 63,190 samples and in the second estimate, 47,029 samples were used from diamond drill core and percussion drill chip samples. In each report presenting the estimate, the effectiveness of sampling and assaying procedures were reviewed.

It is important to note that the estimates reported above were carried out prior to the establishment of Canadian National Instrument 43-101 standards. Vista believes the historical estimates were made in accordance with professional standards existing at the time, but has no way to judge the validity of these estimates with respect to current standards of resource estimation. A Qualified Person has not done sufficient work to qualify these historical estimates as current mineral resources, and Vista is not treating the estimates as current mineral resources as defined in sections 1.2 and 1.3 of Canadian National Instrument 43-101. These estimates should not be relied upon. Vista intends to prepare a new estimate of mineral resources in accordance with Canadian National Instrument 43-101 standards and has retained Gustavson Associates of Boulder, Colorado, to complete the study. Mr. John Rozelle, a Qualified Person, has visited the site on behalf of Vista and expressed the opinion that there is adequate data and technical support to complete a 43-101 compliant estimate.

Mike Richings, Vista President and CEO, stated "We know that the Batman deposit at Mt. Todd has had significant historical gold resource estimates, and that the mineral leases acquired by Vista have other discovered and drilled gold deposits. We intend to proceed with a technical study to determine the current gold resources on the mineral leases under Canadian National Instrument 43-101 standards. The Vista team is very pleased with the working relationships that have been established with the Jawoyn and the Northern Territory government and to have reached agreements that work for all parties. In time, with the right gold price, economic conditions and technology, we believe the Mt Todd gold mine can be rebuilt and operated profitably with appropriate environmental safeguards."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

Note 1. Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This press release uses the terms "measured and indicated resources." The Corporation advises U.S. investors that while these terms are recognized and required by Canadian regulations (under Canadian National Instrument 43-101), 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. Mineral resources that are not "mineral reserves" do not have demonstrated economic viability.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce the closing of the non-brokered private placement previously announced on January 19, 2006. The Corporation raised gross proceeds of U.S. $3,280,904 from the sale of 649,684 units priced at U.S. $5.05 per unit. Each unit consists of one common share and one warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of U.S. $6.00 for a period of two years from the date of issue. The Corporation is to register for resale, under the U.S. Securities Act of 1933, the common shares issued in the placement, as well as the common shares issuable upon the exercise of warrants.

"The proceeds of this private placement will be used to supplement our working capital following our expenditure in December 2005 of U.S. $5.2 million as partial consideration for the acquisition of the Hycroft Royalty and approximately 20,000 acres of mineral claims in Nevada, as previously reported, and also for the acquisition of additional projects, if suitable opportunities arise, maintenance and evaluation of current projects and on-going administration costs," said Mike Richings, President and Chief Executive Officer.

The securities described above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft Mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 received an updated feasibility study for the possible restart of operations at the Hycroft Mine, an open-pit, heap-leach, gold mine located 54 miles west of Winnemucca, Nevada. The Hycroft Mine has produced in excess of one million ounces of gold and two million ounces of silver and is currently on a care and maintenance basis.

The updated study was issued on January 25, 2006 by Mine Development Associates (MDA) of Reno, Nevada, a consulting firm, in accordance with Canadian National Instrument 43-101 guidelines. The study and verification of the data employed in the study was undertaken under the supervision of Mr. Neil Prenn, P. Eng., a qualified person independent of Vista. The Hycroft resource estimate on which the feasibility study was based and which was used by MDA to calculate mineral reserves was prepared by Ore Reserves Engineering (ORE) of Lakewood, Colorado, under the direction of Mr. Alan Noble, P. Eng., a qualified person independent of Vista. The results of the ORE resource estimate, which was prepared in accordance with National Instrument 43-101 guidelines, were previously released by the Corporation in a news release dated August 4, 2005.

Proven and probable mineral reserves were determined within a design pit based on a US$450 per ounce gold price employing a Lerchs-Grossman optimization. The results are summarized in the following table.

                   Hycroft Mineral Reserve Estimate (1)
              (0.005 opt cyanide-soluble gold cutoff grade)

    Reserve   Short Tons   Fire Assay    Contained               Strip Ratio
    Category  (millions)   Gold Grade   Gold Ounces  Waste Tons  (Waste:Ore)
                              (opt)                  (millions)
   Proven       11.954          0.022     260,900
   Probable     21.366          0.019     401,900
   Totals       33.320          0.020     662,800      50.808      1.52


   1) Cautionary Note to U.S. Investors concerning estimates of Proven and
      Probable Reserves: The estimates of mineral reserves shown in this
      table have been prepared in accordance with Canadian National
      Instrument 43-101.  The definitions of proven and probable reserves
      used in NI 43-101 differ from the definitions in SEC Industry Guide 7.
      Accordingly, the Corporation's disclosure of mineral reserves herein
      may not be comparable to information from U.S. companies subject to
      the SEC's reporting and disclosure requirements.

MDA generated a new mining schedule and mining plans to develop the mine at a nominal mining rate of 24 million tons per year. Updated capital and operating costs were estimated for the proposed operation supported by engineering estimates or production parameters from previous operating experience at Hycroft and price quotations for commodities and equipment needed. The study assumed leasing of new major mining equipment and purchase of support equipment. The study estimates that following a pre-production period of 6-9 months, the mine is expected to produce, over a five year period, 375,400 ounces of gold and 1.5 million ounces of silver. (All estimates are presented on a pre-tax basis.) Total cash production costs were estimated in the study to be US$351 per ounce of gold produced with a silver credit equivalent to US$28 per ounce of gold produced based on a US$7 per ounce silver price. Total investment, including working capital, required for recommencement of operations is estimated to be US$25.6 million based on a US$450 gold price, but this is reduced to US$18.5 million at a US$550 gold price. As set forth in the updated study, the investment would generate an estimated internal rate of return (IRR) of 29.5% at a US$450 per ounce gold price and a US$7 per ounce silver price, but this increases to 69.6% at a US$550 gold price and a US$9 silver price. Similar effects are seen on the net present value (NPV) which is estimated at a US$450 gold price and a US$7 silver price, at a 5% discount rate to be US$18.9 million, and at a 0% rate to be US$26.8 million, with these NPV estimates increasing to US$51.6 million and US$65.7 million respectively at a US$550 per ounce gold price and a US$9 per ounce silver price.

In light of significantly higher gold prices in recent months, the Corporation also wishes to present the potential effects of the higher prices on the Paredones Amarillos gold project in Baja California, Mexico. In August 2005 the Corporation presented the results of a feasibility study completed by MDA, referred to above, in accordance with National Instrument 43-101 guidelines, under the supervision of Mr. Neil Prenn, P. Eng., a qualified person independent of Vista. At that time, with a gold price of $400 per ounce, MDA estimated the IRR on the US$100.3 million investment to be 4% and the NPV at a 5% discount rate to be US$6.7 million and at a 0% discount rate to be US$37.1 million. Vista has estimated that at a gold price of US$550 per ounce, based on the MDA economic model, the IRR would be 24% and the NPV at a 5% discount rate would be US$144 million or US$248 million at a 0% discount rate (these calculations have not been verified by MDA). Paredones Amarillos is an advanced-stage project with over US$35 million spent by previous owners on evaluation and engineering, and the project now proposed by Vista has been further defined with additional metallurgical and engineering design work.

Mike Richings, President and CEO, commented, "Completion of the updated restart feasibility study at the Hycroft Mine, as well as the update of economics for Paredones Amarillos, highlights engineering efforts to add value to our projects and underscores the importance of our basic strategy of acquiring and holding these valuable resources in the ground while waiting for higher gold prices. As previously announced, we recently made a significant addition to our ownership interest in the Hycroft Mine with our acquisition of F. W. Lewis Inc. Total consideration for the acquisition was US$5.25 million and 250,000 Vista shares. F. W. Lewis Inc. owned a production royalty at Hycroft, plus approximately 20,000 acres of mineral claims in Nevada. The production royalty (applying to approximately 70% of the reported reserves) was 5% Net Smelter Return (NSR) on gold and 7.5% NSR on silver (and other metals), which would have been paid by Hycroft Resources and Development Inc., a Vista subsidiary. The production royalty no longer applies by virtue of Vista's acquisition. In light of the current high gold prices this timely acquisition means that, with the royalty no longer being payable, Vista has the potential for adding significantly to estimated cash flows from the potential restart of the Hycroft Mine."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft Mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announces that, subject to regulatory approval, it plans to undertake a non-brokered private placement financing which, if completed, will raise gross proceeds of up to approximately U.S. $3.3 million from the sale of up to 650,000 units priced at U.S. $5.05 per unit. The proceeds will be used to supplement the Corporation's working capital following its expenditure in December 2005 of U.S. $5.2 million as partial consideration for the acquisition of the Hycroft Royalty and approximately 20,000 acres of mineral claims in Nevada, as previously reported, and also for the acquisition of additional projects, if suitable opportunities arise, maintenance and evaluation of current projects and on-going administration costs. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of U.S. $6.00 for a period of two years from the date of issue.

The terms of the private placement will require Vista to register for resale, under the U.S. Securities Act of 1933, the common shares issued in the placement, as well as the common shares issuable upon the exercise of warrants. No finder's fee is payable in connection with the placement.

The securities described above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announces that on December 13, a subsidiary of Vista acquired all of the outstanding shares of F.W. Lewis, Inc., the assets of which include 55 mineral properties in Nevada and Colorado. The acquisition was made by exercise of a purchase option originally held by Century Gold LLC of Spring Creek, Nevada. Century Gold assigned the option to Vista pursuant to an assignment and assumption agreement effective December 9, 2005. Under the terms of the assignment agreement, Vista paid Century Gold U.S. $150,000 in cash and also reimbursed it for the U.S. $250,000 it paid the owners of F.W. Lewis, Inc. toward the option exercise price of U.S. $5.1 million. In addition, subject to regulatory approval, Vista has agreed to issue to Century Gold 250,000 common shares of Vista. To complete the exercise of the option, Vista paid the owners of F.W. Lewis, Inc., the remaining U.S. $4.85 million of the outstanding purchase price. Century Gold will retain a 100% interest in two properties and a 50% interest in two other properties. The 53 properties to be retained by Vista include a total of 9,280 acres of patented and 11,616 acres of unpatented mineral claims, the majority having gold, silver or copper discoveries or old mines located on the properties.

F.W. Lewis, Inc. owns a production royalty interest in the Hycroft Mine. The production royalty (applying to approximately 70% of the reported reserves) was 5% Net Smelter Return (NSR) on gold and 7.5% NSR on other minerals, including silver. The production royalty on gold escalated on ore over 0.05 ounces per ton (opt) to a maximum of 10% NSR on ore grades over 0.14 opt. The Hycroft Mine has been leased by a subsidiary of Vista and the production royalty payable to F.W. Lewis, Inc. will no longer apply by virtue of this acquisition. Vista (or predecessor companies) operated the Hycroft Mine, producing 1,075,000 ounces of gold from 1987 to 1998, when operations were suspended due to low gold prices. In September 2004, Vista reported results of an updated feasibility study for the Hycroft Mine by Mine Development Associates (MDA) of Reno, Nevada, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines. The study was filed on SEDAR on September 22, 2004. As reported by Vista, the study estimated mineral reserves using a U.S. $375 gold price at 32.4 million tons at 0.0175 opt of gold, for 566,500 ounces of contained gold. Also, as reported in the study but not separately reported by Vista, it was estimated that from the 566,500 ounces of contained gold, 358,000 ounces could be produced together with 1,433,000 ounces of silver.

Included in the package (100% retained by Vista) is a property in the Battle Mountain, Nevada Mining District, adjacent to and on trend with Newmont's Phoenix-Fortitude property, although similar mineralization cannot be assured. This property is subject to pre-existing agreements with Madison Minerals Inc. (formerly Madison Enterprises Corp.) and Great American Minerals Exploration (Nevada), LLC. These agreements involve payments of U.S. $3,000 per month minimum royalty payments to F.W. Lewis, Inc., minimum exploration commitments of U.S. $250,000 per year, and an option to purchase the property for U.S. $2.0 million payable by December 31, 2007, with a retained 5% gross royalty on gold and a 4% NSR royalty on other metals, and with annual advance minimum royalty payments of U.S. $60,000 commencing on exercise of the purchase option. Madison and Great American also have an option to purchase the royalties from F.W. Lewis, Inc. for U.S. $4.0 million in the first year following the date of exercise of the purchase option and escalating by U.S. $500,000 each year thereafter.

Mike Richings, Vista President and CEO, commented, "We are very pleased to have purchased the Hycroft royalty and ownership interest. It is no secret that we believe the Lewis royalty has deterred major mining companies from entering into an arrangement to explore the deep, high-grade potential of the Hycroft deposit. Additionally, we anticipate that the purchase of the Lewis interest at Hycroft will significantly improve the overall economics of restarting operations at the Hycroft mine. At recent prices of $500 and $8 per ounce for gold and silver, respectively, the royalty would be worth US$6.9 million on 70% of the potential production of 358,000 ounces of gold and 1,433,000 ounces of silver from the reported mineral reserves. We are currently updating last year's National Instrument 43-101 study to reflect today's higher gold prices, the increased measured and indicated resource estimate (reported August 4, 2005) and current cost data. We also look forward to the opportunities that this excellent package of exploration properties will afford to Vista to increase value for our shareholders."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include, in addition to the properties newly acquired with the acquisition of F.W. Lewis, Inc., the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

Cautionary Note to U.S. Investors concerning estimates of Proven and Probable Reserves: Estimates of mineral reserves herein have been prepared in accordance with Canadian National Instrument 43-101. The definitions of proven and probable reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Accordingly, the Corporation's disclosure of mineral reserves herein may not be comparable to information from U.S. companies subject to the SEC's reporting and disclosure requirements.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 quarter and nine months ended September 30, 2005, as filed on November 14, 2005, with the US Securities and Exchange Commission in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended September 30, 2005, of US$1.0 million or US$0.05 per share compared to a consolidated net loss of US$1.0 million or US$0.07 per share for the same period in 2004. The Corporation's consolidated net loss for the nine-month period ended September 30, 2005, was US$3.4 million or US$0.19 per share compared to a consolidated net loss of US$3.6 million or US$0.23 per share for the same period in 2004. The net losses for the three-month and nine-month periods were minimally different from those for the prior-year periods, primarily reflecting slight decreases in exploration, property evaluation and holding costs, and slight increases in corporate administration and investor relations costs in each of the three-month and nine-month periods.

Net cash used for operations was US$957,000 for the three-month period ended September 30, 2005, compared to US$1,122,000 for the same period in 2004. Cash used in operations was US$2,776,000 for the nine-month period ended September 30, 2005, compared to US$2,777,000 for the same period in 2004. The decrease of US$165,000 for the three-month period can be attributed to reduction in accounts receivable of US$181,000 from the same period in 2004.

Net cash used for investing activities decreased to US$533,000 for the three-month period ended September 30, 2005, compared to US$1,618,000 for the same period in 2004. The decrease of US$1,085,000 in 2005 reflected the restricted cash payment of US$1,104,000 in 2004. For the nine-month period ended September 30, 2005, net cash used for investing activities decreased by US$1,364,000 to US$2,761,000 compared to US$4,125,000 for the same period in 2004. Overall expenditures were higher during the 2004 period, primarily reflecting the restricted cash payment of US$3.4 million made by the Corporation in the first nine-months of 2004, in connection with bonding requirements for the Hycroft Mine. Cash invested for the nine-month period ended September 30, 2005 was US$2,761,000 which included net additions to mining properties of US$1,057,000 and the acquisition of the Awak Mas project, net of cash acquired, of US$1,613,000.

Net cash provided by financing activities was US$7,245,000 in the three-month period ended September 30, 2005 compared to US$6,427,000 for the same period in 2004. In each of these periods, the Corporation raised funds through private placements of equity units, with net proceeds of US$7,245,000 from the 2005 private placement and US$6,112,000 from the 2004 private placement. Net cash provided by financing activities was US$7,643,000 for the nine-month period ended September 30, 2005, compared to US$9,483,000 for the same period in 2004. The amounts raised in the 2005 nine-month period were primarily from the US$7,245,000 raised in the private placement and the remainder from the exercise of warrants in the amount of US$373,000 and stock options in the amount of US$25,000. The aggregate US$9,483,000 proceeds in the 2004 nine-month period were primarily from the US$6,112,000 raised in the private placement and from the exercise of warrants in the amount of US$3,039,000 and stock options in the amount of US$332,000.

The financial position of the Corporation included current assets at September 30, 2005, of US$8.9 million compared to US$6.8 million at December 31, 2004, and total assets at September 30, 2005, of US$37.3 million compared to US$32.8 million at December 31, 2004.

Current liabilities were US$0.2 million at September 30, 2005, approximately the same as at December 31, 2004. Total liabilities at September 30, 2005, were US$4.5 million, compared to US4.4 million at December 31, 2004. Shareholders' equity at September 30, 2005, was US$32.9 million compared to US$28.3 million at December 31, 2004.

The Corporation's working capital as of September 30, 2005, was US$8.6 million compared to US$6.6 million at December 31, 2004.

The selected financial data including the results of operations for the three-month and nine-month periods ended September 30, 2005 compared to 2004, and the financial positions as at September 30, 2005 compared to December 31, 2004, is summarized in the following table:

  Selected Financial Data       Three Months Ended,     Nine Months Ended
                                  September 30,           September 30,
                                2005         2004       2005        2004
   U.S. $000's, except
   loss per share

   Results of operations
   Net loss                    $(970)      $(1,047)   $(3,378)   $(3,584)
   Basic and diluted
    loss per share             (0.05)        (0.07)     (0.19)     (0.23)

   Net cash used in operations  (957)       (1,122)    (2,776)    (2,777)
   Net cash used in
    investing activities        (533)       (1,618)    (2,761)    (4,125)
   Net cash provided by
    financing activities      (7,245)        6,427      7,643      9,483


   Financial position     September 30,   December 31,
                               2005          2004

   Current assets             $8,846        $6,826
   Total assets               37,328        32,788
   Current liabilities           238           256
   Total liabilities           4,469         4,444
   Shareholders' equity       32,859        28,344

   Working capital             8,608         6,570

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announces that it has agreed with Luzon Minerals Ltd. (TSX: LU), subject to regulatory approval, to further amend certain of the terms of the purchase option agreement between the companies concerning Vista's Amayapampa gold project in Bolivia. The agreement was most recently amended in July 2005, as previously announced.

The agreement as amended on July 18, 2005, as previously reported, called for an aggregate purchase price comprising: U.S. $2,700,000 (including U.S. $100,000 previously paid); either 3,250,000 or 4,250,000 common shares in the capital of Luzon (including 250,000 already issued to Vista); 1,000,000 common share purchase warrants; and a net smelter return royalty.

  The following amendments have been approved:

   *  The number of Luzon common share warrants to be issued has been
      increased from 1,000,000 to 1,500,000, the exercise price has been
      reduced from CDN $0.20 to CDN $0.15, and the exercise period has been
      reduced from three to two years from the date of issuance.  As well,
      the new agreement now provides that if the closing trading price of
      Luzon common shares equals or exceeds CDN $0.25 for 20 consecutive
      trading days, Luzon may request that Vista exercise the warrants, in
      which case the exercise period would conclude 15 business days
      following the request.

   *  Vista has agreed to defer a U.S. $100,000 cash payment from Luzon
      from the earlier of December 31, 2005 or the date of the closing of
      the next debt, equity or other financing completed by Luzon until the
      earlier of December 1, 2006 or the date Luzon completes or obtains
      financing sufficient to commence construction at the Amayapampa
      Project.

  Other terms of the agreement remain unchanged.

Mike Richings, Vista President and CEO, stated "We are pleased with the progress that the new management at Luzon is making with the Amayapampa Project. We believe these amendments will facilitate their efforts to advance Luzon and the development of the project."

On another matter, the Corporation is pleased to announce the appointment of Mr. Robert V. Perry as Vice President, Exploration. He has 25 years of exploration experience in North America and internationally, and has been involved in a number of start-up exploration companies. He was Vice President and COO of Gold Discovery Company of Golden, Colorado, which successfully made several gold discoveries in Romania and was involved in exploring Ecuador and Uzbekistan. Earlier in his career, Bob discovered the Beartrack gold deposit in Idaho, which became a major gold mining project, and is credited with additional discoveries. He holds B.A. and M.S. degrees in geology from the University of Colorado.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce the results of an updated preliminary feasibility study for the Paredones Amarillos gold project in Baja California Sur, Mexico. A feasibility study was previously completed by Echo Bay Mines in 1997. The updated study was issued on September 23, 2005, by Mine Development Associates (MDA) of Reno, Nevada, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines, under the supervision of Mr. Neil Prenn, P. Eng., a Qualified Person. MDA was assisted in the effort by Resource Development Incorporated (RDi) of Wheat Ridge, Colorado, in metallurgical testing and process redesign, and by WLR Consulting (WLR) of Lakewood, Colorado, in mine design.

Proven and probable mineral reserves were determined within a proposed open pit mine, which was designed employing a Lerchs-Grossmann optimization technique based on U.S. $400 per ounce gold price. The results are summarized in the following table.

                 Paredones Amarillos Mineral Reserve Estimate
                    (0.38 g/t gold internal cutoff grade)

           Ore Tonnes  Gold Grade   Contained   Waste Tonnes Strip Ratio
             (000's)  (Fire Assay  Gold Ounces     (000's)  (Waste : Ore)
                          g/t)
   Proven    11,699      1.11        419,000
   Probable  37,247      0.97      1,158,000
   Totals    48,946      1.00      1,577,000      170,292        3.48

The capital and operating costs were estimated by MDA with the assistance of RDi and WLR. Mining plans were prepared and a schedule generated detailing annual production of ore and waste, by WLR. Appropriate mining equipment was selected and requirements estimated for the proposed life of the operation. RDi completed metallurgical test work and process plant design for the proposed 11,000 tonne per day flotation/leach plant. The proposed flow sheet is estimated to achieve a 90% process recovery on gold and to minimize process water and tailings disposal expense. The plant is designed to produce an average of 113,000 gold ounces per year over 12.5 years.

Using a gold price of U.S. $400 per ounce, the estimated pretax rate of return was 4% and the undiscounted cash flow was estimated to be U.S. $37 million. Sensitivity analyses show the estimated pretax rate of return rises to 12% and the estimated undiscounted cash flow rises to U.S. $122 million at a gold price of U.S. $460.

An alternate mining plan was designed to enhance the return on investment. The smaller mine operation improved the estimated pretax rate of return at a gold price of U.S. $400 per ounce to 7% and the estimated undiscounted cash flow to U.S. $41 million. At a gold price of U.S. $460 per ounce, the estimated pretax rate of return was 17% and the estimated undiscounted cash flow was U.S. $107 million.

The resource model used to estimate the mineral reserves was reported by the Corporation in a press release dated August 29, 2002, based on an independent technical report prepared by Snowden Mining Industry Consultants of Vancouver, British Columbia, in compliance with Canadian National Instrument 43-101. According to the report, dated August 20, 2002, the gold resources above a 0.5 grams gold per tonne cut-off at the Paredones Amarillos project are:

   Paredones Amarillos
     Resource Estimate              Tonnes     Gold Grade   Ounces of Gold
    (0.5 g/t Au cutoff)             (000's)       (g/t)        (000's)
   Measured resources (1)           11,498        1.17            431
   Indicated resources (1)          44,170        1.02          1,451
     Total measured and
      indicated resources (1)       55,668        1.05          1,882
   Inferred resources (2)            5,495        0.79            140

(1) Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This table uses the terms "measured 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. Mineral resources that are not "mineral reserves" do not have demonstrated economic viability.

(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 feasibility 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.

Mike Richings, President and CEO, commented, "Our strategy to acquire out-of-the-money gold resources and hold them for higher gold prices while improving the economics through re-engineering is beginning to show positive results as at Paredones Amarillos. This updated prefeasibility study showed an increase in proven and probable reserves of 290,000 gold ounces and indicates an attractive economic return at current gold prices."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, and the Awak Mas deposit in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce the closing of the private placement previously announced on August 26, 2005. The Corporation raised gross proceeds of U.S. $7,807,723 from the sale of 2,168,812 units priced at U.S. $3.60 per unit. Each unit consists of one common share and one warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of U.S. $4.10 for a period of two years from the date of issue.

Vista is to register for resale, under the U.S. Securities Act of 1933, the common shares issued in the placement, as well as the common shares issuable upon the exercise of warrants. The warrants have a provision for accelerating their expiry date as follows: starting six months after the share registration is declared effective, if the closing price of Vista's common shares on the American Stock Exchange is U.S. $5.40 or more for a period of 20 consecutive trading days, then for 15 business days Vista will have the option to request that the warrants be exercised. If the warrants are not exercised within 15 business days following this request, they will be cancelled.

The Corporation paid a cash finder's fee equal to 6% of the gross proceeds of the private placement and also issued as a finder's fee 216,881 warrants, that number being 10% of the number of units issued in the private placement.

"The proceeds of this private placement will allow us to continue with our strategy of acquiring additional gold resources, as suitable opportunities arise; improving our gold projects through additional drilling, re-engineering and feasibility studies; and to pay on-going administration costs," said Mike Richings, President and Chief Executive Officer.

The securities described above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announces that, subject to regulatory approval, it plans to undertake a private placement financing which, if completed, will raise gross proceeds of up to approximately U.S. $7.8 million from the sale of up to 2.16 million units priced at U.S. $3.60 per unit. The proceeds will be used for the acquisition of additional projects, if suitable opportunities arise, maintenance and evaluation of current projects and on-going administration costs. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of U.S. $4.10 for a period of two years from the date of issue.

The terms of the private placement will require Vista to register for resale, under the U.S. Securities Act of 1933, the common shares issued in the placement, as well as the common shares issuable upon the exercise of warrants. Starting six months after the share registration date, if the closing price of Vista's common shares on the American Stock Exchange is U.S. $5.40 or more for a period of 20 consecutive trading days, then for 15 business days Vista will have the option to request that the warrants be exercised. If the warrants are not exercised within 15 business days following this request, they will be cancelled.

The Corporation will pay a cash finder's fee equal to 6% of the gross proceeds of the private placement and a finder's fee payable in warrants in number equivalent to 10% of the number of units issued in the private placement.

The securities described above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 quarter and six months ended June 30, 2005, as filed on August 12, 2005, with the US Securities and Exchange Commission in the Corporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net loss for the three-month period ended June 30, 2005, of US$1.5 million or US$0.08 per share compared to a consolidated net loss of US$1.4 million or US$0.09 per share for the same period in 2004. The Corporation's consolidated net loss for the six-month period ended June 30, 2005, was US$2.4 million or US$0.13 per share compared to a consolidated net loss of US$2.5 million or US$0.17 per share for the same period in 2004. The net losses for the three-month and six-month periods were minimally different from those for the prior-year periods, primarily reflecting slightly decreased exploration, property evaluation and holding costs, and increased corporate administration and investor relations costs of US$0.1 million for the three-month period due to a mass mailing marketing campaign, with slightly decreased costs for the six-month period.

Net cash used for operations was US$1,127,000 for the three-month period ended June 30, 2005, compared to US$1,207,000 for the same period in 2004. Cash used in operations was US$1,819,000 for the six-month period ended June 30, 2005, compared to US$1,655,000 for the same period in 2004. The decrease of US$80,000 for the three-month period can be attributed to reduction in prepaid expenses and accounts payable and accruals of US$99,000 for the same period in 2004. The increase of US$164,000 for the six-month period was attributable to a reduction in accounts receivable for the same period in 2004.

Net cash used for investing activities increased to US$1,964,000 for the three-month period ended June 30, 2005, compared to US$70,000 for the same period in 2004. The increase of US$1,894,000 in 2005 was due to the purchase of the Awak Mas project in May 2005 for US$1.5 million and exploration activities at the Paredones Amarillos project of US$0.4 million. For the six- month period ended June 30, 2005, net cash used for investing activities decreased by US$279,000 to US$2,228,000 compared to US$2,507,000 for the same period in 2004. Overall expenditures were higher during the 2004 period, primarily reflecting the restricted cash payment of US$2.3 million made by the Corporation in the first quarter of 2004, in connection with bonding requirements for the Hycroft Mine.

The Corporation did not receive any cash from financing activities for the three-month-period ended June 30, 2005, compared to US$853,000 for the same period in 2004, all of which was attributable to the exercise of warrants. Net cash provided by financing activities was US$398,000 for the six-month period ended June 30, 2005, compared to US$3,056,000 for the same period in 2004. The amounts raised in the 2005 six-month period were from the exercise of warrants in the amount of US$373,000 and stock options in the amount of US$25,000, all during the first quarter. The aggregate US$3,056,000 proceeds in the 2004 six-month period were from the exercise of warrants in the amount of US$3,039,000 and stock options in the amount of US$17,000.

The financial position of the Corporation included current assets at June 30, 2005, of US$3.0 million compared to US$6.8 million at December 31, 2004, and total assets at June 30, 2005, of US$31.0 million compared to US$32.8 million at December 31, 2004.

Current liabilities were US$0.3 million at June 30, 2005, approximately the same as at December 31, 2004. Total liabilities at June 30, 2005, were US$4.5 million, compared to US4.4 million at December 31, 2004. Shareholders' equity at June 30, 2005, was US$26.5 million compared to US$28.3 million at December 31, 2004.

The Corporation's working capital as of June 30, 2005, was US$2.7 million compared to US$6.6 million at December 31, 2004.

The June 30, 2005 unaudited consolidated financial statements have been prepared on a going concern basis, which assumes that the Corporation will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. The Corporation's current working capital is not sufficient to satisfy current general and administrative activities, holding costs and property obligations which will be approximately US$3.2 million over the next twelve months. The Corporation may raise funds through warrant exercises or private placements, or may joint venture one or more of its properties. The Corporation has successfully raised money to support its activities in the past; however, there are no assurances that the Corporation will be able to raise sufficient funds from these sources in the future.

The selected financial data including the results of operations for the three-month and six-month periods ended June 30, 2005 compared to 2004, and the financial positions as at June 30, 2005 compared to December 31, 2004, is summarized in the following table:

   Selected Financial Data

                               Three Months               Six Months
                              Ended June 30,             Ended June 30,
                            2005         2004         2005         2004

   U.S. $000's, except
    loss per share

   Results of
    operations
   Net loss               $(1,450)     $(1,391)      $(2,408)     $(2,537)
   Basic and diluted
    loss per share          (0.08)       (0.09)        (0.13)       (0.17)

   Net cash used
    in operations          (1,127)      (1,207)       (1,819)      (1,655)
   Net cash used
    in investing
    activities             (1,964)         (70)       (2,228)      (2,507)
   Net cash provided
    by financing
    activities                 --          853           398        3,056



   Financial position                    June 30,    December 31,
                                           2005         2004

   Current assets                        $2,993        $6,826
   Total assets                          31,040        32,788
   Current liabilities                      302           256
   Total liabilities                      4,534         4,444
   Shareholders' equity                  26,506        28,344
   Working capital                        2,691         6,570

The Corporation recently received assay results of a drill program to explore the Tocopilla area north of the Paredones Amarillos gold deposit in Baja California Sur, Mexico. The drilling confirmed the presence of mineralization and a structure similar to that which hosts the Paredones Amarillos deposit. No drill intercepts of ore grade quality were found, however the sampling helped to identify and locate favorable targets for follow up programs. The drill program was conducted under the supervision of Warren Bates, previously Vista's Chief Geologist (P. Geo.), and assaying was done by ALS Chemex of Hermosillo, Sonora, Mexico. Additional targets remain to be drill tested.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announces that Canyon Resources Corporation (AMEX: CAU) has advised Vista that Canyon will not be exercising its option to acquire the Hycroft mine near Winnemucca, Nevada. In January 2005, Canyon entered into a six month option agreement with Vista to expend US$0.5 million for drilling, engineering and due-diligence review to acquire the mine for US$4.0 million in cash plus US$6.0 million in Canyon equity units consisting of one common share and one warrant for half a share.

Canyon completed a 33-hole drilling program totaling 12,475 feet and undertook a comprehensive study to restart operations at Hycroft. Assaying was done by American Assay Laboratories of Sparks, Nevada. The drilling program confirmed average grades for the ore body but Canyon noted that increased costs, as well as shortages of labor and large mining equipment were contributing factors in its decision not to proceed. Vista received the data from Canyon's work at the time of notification and has not completed a review of all the information. However, a resource study in accordance with Canadian National Instrument 43-101 guidelines was completed by Ore Reserves Engineering of Lakewood, Colorado, under the direction of Mr. Alan Noble, P. Eng., a qualified person independent of Canyon or Vista.

The re-estimation of gold resources, based on 587 drill holes with a total of 52,889 assay intervals covering 267,280 feet, resulted in increasing the measured and indicated resources at the Brimstone deposit some 30% from the previous estimate by Mine Development Associates of Reno, Nevada, as announced by Vista in September 2004. The inferred gold resources decreased slightly from the 2004 estimate to the current estimate. A comparison of the gold resource estimates is shown in the following table.

                           Brimstone Gold Resources
                (0.005 opt cyanide-soluble gold cutoff grade)
                       Mine Development Associates 2004

   Resource                  Short    Fire Assay    Contained
   Category                   Tons    Gold Grade   Gold Ounces
                           (millions)   (opt)
   Measured 1)                23.3      0.0165       385,100
   Indicated 1)               24.2      0.0153       369,400
   Total M&I                  47.5      0.0159       754,600

   Inferred 2)                  12      0.0111       133,600


                           Brimstone Gold Resources
                (0.005 opt cyanide-soluble gold cutoff grade)
                         Ore Reserves Engineering 2005

   Resource                  Short     Fire Assay    Contained   Difference
   Category                   Tons     Gold Grade   Gold Ounces
                           (millions)    (opt)
   Measured 1)                17.2        0.02       351,000
   Indicated 1)               35.5       0.018       627,000
   Total M&I                  52.7       0.019       978,000         30%

   Inferred 2)                 8.7       0.015       127,000         -5%


   1) Cautionary Note to U.S. Investors concerning estimates of Measured and
      Indicated Resources: This table uses the terms "measured 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 feasibility 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.

Mike Richings, Vista President and CEO, commented, "Although we believe this is an excellent time for gold producers to expand or commence new gold production, we can understand Canyon's concerns over the severe inflation in mine production costs in the mining industry. One only has to look at recent results from major mining companies, which are better able to deal with inflation, to observe the impact of inflation on gold production costs. We believe this will eventually affect gold supply, accelerating the onset of higher gold prices. Vista will continue its strategy of acquiring and holding gold resource properties, while waiting for higher gold prices, when significant premiums from the sale, joint venture or gold production can be realized from these properties. Vista will continue to hold the Hycroft mine until an appropriately valued opportunity arises."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announces that it has agreed with Luzon Minerals Ltd. (TSX-V: LU), subject to regulatory approval, to further amend the terms of the original purchase option agreement between the companies concerning Vista's Amayapampa gold project in Bolivia, with respect to the payments previously due on June 15, 2005 and June 15, 2006. The agreement had been most recently amended in January 2005, in connection with Luzon's decision to exercise its option to purchase the Amayapampa project from Vista, as previously announced. Mike Richings, Vista President and CEO, stated, "We believe the amendments will facilitate Luzon arranging project financing and lead to accelerated development of the project. At the same time, we believe that the amended agreement will appropriately compensate Vista and provide us with the potential for a long-term royalty revenue stream."

The amended agreement, dated July 18, 2005, calls for an aggregate purchase price comprising: U.S. $2,700,000 (including U.S. $100,000 previously paid); either 3,250,000 or 4,250,000 common shares in the capital of Luzon (including 250,000 already issued to Vista), and 1,000,000 common share purchase warrants; and a net smelter return royalty to Vista payable as follows:

-- Within five days of receiving approval of the TSX Venture Exchange, Luzon will issue to Vista 3,000,000 Luzon common shares and 1,000,000 warrants, each warrant entitling the holder to acquire one common share of Luzon at an exercise price of CDN $0.20 for a period of three years from the date of issuance, and, on the earlier of December 31, 2005 or the date of the closing of the next debt, equity or other financing completed by Luzon after July 15, 2005, Luzon will pay to Vista U.S. $100,000 in cash.

-- Within five days of the date that is the earlier of December 31, 2006 or the date Luzon completes or obtains financing sufficient to commence construction at the Amayapampa Project, Luzon will pay to Vista U.S. $2,500,000.

-- In the event that Luzon completes a feasibility study or technical report for the Amayapampa Project that discloses recovered gold of more than 400,000 ounces, Luzon shall issue to Vista an additional 1,000,000 common shares.

-- If Luzon completes the acquisition of the Amayapampa Project, Luzon will grant Vista a net smelter return royalty as follows: (i) on the first 440,000 ounces of gold production, a 4.5% net smelter return royalty where the gold price is less than U.S. $450 per ounce and a 5.5% net smelter return royalty where the gold price is U.S. $450 per ounce or more, and (ii) thereafter, a 1.0% net smelter return royalty.

In addition, effective from July 29, 2004, Luzon will pay all costs associated with holding and maintaining the Amayapampa Project, including reimbursement of outlays made by Vista (approximately U.S. $51,000, as of June 30, 2005). Other terms of the agreement remain unchanged.

Mike Richings also commented on the new board of directors and management structure at Luzon: "We believe the recent changes in Luzon's board of directors and management, including the appointment of Scottish financier Mr. Willie McLucas as Chairman, will re-energize the company and will lead to the financing and early development of the Amayapampa Project."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announced today its financial results for the quarter ended March 31, 2005, as filed on May 13, 2005, with the US Securities and Exchange Commission in the Corporation's Quarterly Report on Form 10-Q. For the quarter ended March 31, 2005, Vista reported a consolidated net loss of US$1.0 million or US$0.05 per share compared to a consolidated net loss of US$1.1 million or US$0.08 per share for the quarter ended March 31, 2004.

Net cash used for operations in the quarter ended March 31, 2005, was US$0.7 million compared to US$0.4 million for the same period in 2004. Net cash used in investing activities in the quarter ended March 31, 2005, was US$0.3 million compared to US$2.4 million for the same period in 2004. The decreased spending in investing activities in the 2005 quarter primarily reflected the US$2.3 million paid by the Corporation into the reclamation bond account for the Hycroft mine in Nevada in the 2004 quarter.

The Corporation received net cash from financing activities of US$0.4 million in the quarter ended March 31, 2005, compared to US$2.2 million for the same period in 2004, with the amounts in both periods representing proceeds from the exercise of warrants and options.

The financial position of the Corporation included current assets at March 31, 2005, of US$6.1 million compared to US$6.8 million at December 31, 2004, and total assets at March 31, 2005, of US$32.2 million compared to US$32.8 million at December 31, 2004.

Current liabilities were US$0.2 million at March 31, 2005, compared to US$0.3 million at December 31, 2004. Total liabilities at March 31, 2005, were US$4.4 million, approximately the same as at December 31, 2004, and shareholders' equity at March 31, 2005, was US$27.9 million compared to US$28.3 million at December 31, 2004.

The Corporation's working capital as of March 31, 2005, was US$5.9 million compared to US$6.6 million at December 31, 2004. The financial information for the first quarter of 2005 is summarized in the following table.

   Selected Financial Data

                                                Three Months Ended March 31,
   U.S. $000's, except loss per share               2005           2004
   Results of operations
   Net loss                                       $(958)         $(1,146)
   Basic and diluted loss per share               (0.05)           (0.08)

   Net cash used in operations                     (692)            (448)
   Net cash used in investing activities           (264)          (2,437)
   Net cash provided by financing activities        398            2,203



   Financial position                           March 31,      December 31,
                                                  2005             2004
   Current Assets                                $6,069           $6,826
   Total Assets                                  32,234           32,788
   Current liabilities                              178              256
   Total liabilities                              4,368            4,444
   Shareholders' equity                          27,866           28,344

   Working capital                                5,891            6,570

The annual general meeting of the Corporation's shareholders was held on May 9, 2005. Re-elected to the Board of Directors for a one-year term were John M. Clark, W. Durand Eppler, C. Thomas Ogryzlo, Robert A. Quartermain and Michael B. Richings. PricewaterhouseCoopers LLP was re-appointed independent auditor. An amendment to the Corporation's Stock Option Plan was approved increasing the maximum number of Common Shares which may be issued under the Plan from 1,000,000 Common Shares to 1,750,000 Common Shares.

On May 12, 2005, in connection with the Corporation's purchase of the Awak Mas deposit in Indonesia, the Corporation transferred US$1.2 million to an escrow account to be placed in trust and released to the vendors upon completion of the final transaction documents.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that its Board of Directors has approved the exercise of the purchase option for the Awak Mas gold deposit located in Sulawesi, Indonesia. As previously reported, in November 2004 Vista entered into an option agreement to acquire the Awak Mas deposit for a purchase price of U.S. $1,500,000. Under the terms of the agreement, Vista had a six-month option period in which to conduct due diligence while paying the owners U.S. $15,000 per month. The monthly option payments, as well as costs up to U.S. $150,000 expended to correct any deficiencies in asset standing, will be credited towards the purchase price. The closing is anticipated to occur on or before May 6, 2005.

Also as previously reported by the Corporation, an October 2004 resource analysis prepared by RSG Global Pty Ltd of West Perth, Australia, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines under the supervision of Brett Gossage, a Qualified Person, showed the known deposit, at a reported cutoff grade of 0.5 grams gold per ton, to contain measured and indicated resources of 52,580,000 short tons at a grade of 0.032 ounces per ton containing 1,656,000 gold ounces(1) and inferred resources of 8,250,000 short tons at a grade of 0.032 ounces per ton containing 259,000 gold ounces(2). The Corporation believes the potential to expand the resources is good, based on preliminary exploration results of previous operators.

Vista President and CEO Mike Richings stated "Acquiring measured and indicated resources of 1.7 million gold ounces plus an inferred resource of 0.3 million gold ounces at a cost of U.S. $1.5 million, in a project whose previous operators spent over AUD $46 million and completed a final feasibility study, is very attractive to Vista. We will be attempting to expand the gold resources by strategic exploration over the next several years and to enhance the economics of the project through engineering studies."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, and the Awak Mas deposit in Indonesia.

(1) Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This press release uses the term "measured and indicated 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. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves.

(2) Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: This press release 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 other economic study. 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 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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto announced today its financial results for the year ended December 31, 2004, as filed on March 31, 2005, with the U.S. Securities and Exchange Commission in the Corporation's Annual Report on Form 10-K. For the year ended December 31, 2004, Vista reported a consolidated net loss of US$4.9 million or US$0.31 per share compared to the 2003 consolidated net loss of US$2.7 million or US$0.22 per share. The increase of US$2.2 million in 2004 is due to increased holding costs at the Hycroft Mine of US$0.6 million; decreased holding costs at the Amayapampa property of US$0.1 million; increased property exploration costs of US$0.2 million; increased general and administrative costs of US$0.5 million; and increased stock-based compensation of US$1.0 million (a non-cash item).

The Corporation received net cash from financing activities of US$9.8 million in 2004 compared to US$8.1 million in 2003. Net cash used in investing activities in 2004 was US$6.1 million compared to US$3.0 million in 2003. This increase primarily reflects US$3.3 million set aside for increased bond requirements at Hycroft in 2004, compared to US$1.7 million in 2003. Net cash used for operations in 2004 was US$3.4 million compared to US$3.0 million in 2003. The unused cash received from financing activities in 2004 is on hand as working capital.

The financial position of the Corporation included current assets at December 31, 2004, of US$6.8 million compared to US$6.5 million in 2003 and total assets of US$32.8 million at December 31, 2004, compared to US$26.3 million in 2003. Total liabilities at December 31, 2004, were US$4.4 million compared to US$4.6 million in 2003 and shareholders' equity was US$28.3 million at December 31, 2004, compared to US$21.7 million in 2003. The Corporation's working capital as of December 31, 2004, was US$6.6 million which increased by US$0.5 million from US$6.1 million in 2003.

   Selected Financial Data
                                                  Years ended December 31
   U.S. $ 000's, except loss per share             2004           2003
   Results of operations
   Net loss                                      $(4,924)       $(2,745)
   Basic and diluted loss per share               $(0.31)        $(0.22)

   Net cash used in operations                   $(3,351)       $(3,008)
   Net cash used in investing activities          (6,100)        (3,002)
   Net cash provided by financing activities       9,847          8,087

   Financial position
   Current assets                                 $6,826         $6,485
   Total assets                                   32,788         26,280
   Current liabilities                               256            408
   Total liabilities                               4,444          4,577
   Shareholders' equity                           28,344         21,703
   Working capital                                $6,570         $6,077

The annual general meeting of the Corporation's shareholders has been scheduled for Monday, May 9, 2005, at 10:00 a.m., Vancouver time, at the offices of Borden Ladner Gervais LLP, Suite 1200, 200 Burrard Street, Vancouver, British Columbia, Canada.

On another matter, Mike Richings, President and CEO, commented, "Our due diligence efforts regarding the Awak Mas property in Indonesia are proceeding on schedule and we anticipate exercising the option to acquire the property in April, following Vista's board of directors' and regulatory approvals."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, and an option to purchase the Awak Mas project in Sulawesi in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) is pleased to report final drill results from a recently completed drilling program at the Mountain View Gold Project in Nevada.

The Mountain View Gold Project is located in northwest Nevada, approximately 40 miles west of the Corporation's Hycroft mine near Winnemucca. It is part of the Deephole Mining District which saw gold production between 1938 and 1951, with renewed exploration activity beginning in 1984. Vista acquired the project in October 2002 from Newmont Capital Limited, a subsidiary of Newmont Mining Corporation.

The five-hole reverse circulation program totaled 4,070 feet. Two drill holes (MV04-192 and MV04-193) were abandoned before reaching bedrock due to water inflows in the gravels above the bedrock. The remaining three holes encountered gold mineralization. Significant intercepts include MV04-194 which intersected 110 feet of mineralization grading 0.039 ounces of gold per ton between 245 and 355 feet, and 160 feet grading 0.024 ounces of gold per ton between 530 and 690 feet. MV04-195 intersected 340 feet of mineralization grading 0.045 ounces of gold per ton, including a higher grade interval of 15 feet assaying 0.421 ounces of gold per ton from 845 to 860 feet. MV04-196 intersected 65 feet of mineralization grading 0.031 ounces of gold per ton from 665 to 730 feet.

The results of MV04-194, 195 and 196 indicate the potential for bulk-mineable gold mineralization. MV04-195 was drilled 60 feet below a hole drilled earlier, MV94-95, and the results indicate the down-dip extension of mineralization, including higher grade intercepts that correlate between these two holes.

The drilling program was performed between October 13 and November 20, 2004, under the overall supervision of Warren Bates, P.Geo., Vista's Chief Geologist. Mr. Bates is a qualified person for the purposes of Canadian National Instrument 43-101. All samples taken were five feet in length and were assayed by American Assay Labs of Reno, Nevada. Drill hole MV04-194 was a vertical hole, MV04-195 and 196 were angle holes drilled from west to east. Sampling and assaying methods were conducted in accordance with Canadian National Instrument 43-101 best practices. Selected weighted-average assay results are shown in the following table:

                    Selected Drill Hole Assay Results

   Hole   From    To   Interval  Gold           From    To   Interval  Gold
         (feet) (feet)  (feet)  Ounces         (feet) (feet)  (feet)  Ounces
                                 Per                                   Per
                                 Ton                                   Ton
   MV04-
   194     245    355    110    0.039
   and     530    690    160    0.024
   MV04-
   195     685   1025    340    0.045  Including  845   860     15    0.421
   MV04-
   196     665    730     65    0.031

"The work at Mountain View demonstrates Vista's ability to enhance our projects through strategic drilling," stated Mike Richings, President and CEO. "The results of this drilling program demonstrate the potential to add value to this project."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, and an option to purchase the Awak Mas project in Sulawesi in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) will be holding a conference call for all interested parties regarding the option to purchase the Hycroft Mine in Nevada with Canyon Resources Corporation (AMEX: CAU), a Colorado based mining company, as announced on January 24, 2005. Also, the company intends to discuss the overall strategy and how the option agreement and pending sale will enhance the advancement of this strategy. The conference call will be held on Thursday January 27, 2005 at 4:30 P.M. EST (2:30 P.M. MST).

Individuals interested in attending and listening to the conference call can do so by logging on to www.vistagold.com and clicking on "Investor Information -- Webcasts".

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

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 it has signed a binding letter of intent agreement with Canyon Resources Corporation of Golden, Colorado (AMEX: CAU) to grant Canyon a six-month option to purchase the Hycroft mine in Nevada for an aggregate amount of US$10 million consisting of a combination of US$4 million in cash and US$6 million in equity units. Completion of the transaction is subject to the negotiation and execution of a definitive option and purchase agreement and regulatory approval. The agreement provides for Canyon to expend US$500,000 on a program of development and exploration drilling and mine engineering. The objectives of this program are to evaluate and expand the oxide reserves of Hycroft and to provide design information for the restart of oxide leaching operations.

At any time during the six-month period, Canyon may exercise its option to purchase Hycroft for an aggregate amount of US$10 million consisting of a combination of US$4 million in cash and US$6 million in units, with each unit consisting of one share of Canyon common stock and a warrant to purchase one half share of Canyon common stock. The number of units would be calculated by dividing US$6 million by the average closing price of Canyon common stock for the 20 trading days prior to the exercise of the option. The exercise price of each warrant would be equal to 130% of the average share price, as calculated above, upon exercise of the option and the warrants would have a term of three years from date of issue. Canyon will arrange to register the stock acquired by Vista as part of this transaction.

In addition, Canyon would have the choice either to arrange new reclamation bonding for Hycroft or assume the existing bond (subject to bonding company approval). If Canyon assumes the existing bond, Canyon would pay Vista the difference, over a number of years, between the bond amount (approximately US$6.8 million) and the bonding company's accepted cost estimate of reclamation (approximately US$4.2 million), or approximately US$2.6 million.

If Canyon fails to complete significant physical development activities directed toward recommencing gold production from oxide ore leaching during the 12 months following Canyon's purchase, then Canyon commits to spend $500,000 on exploration for high-grade gold deposits on the property in each of the two following 12-month periods.

The agreement would provide that Vista will have the right to nominate a new Director for Canyon's Board of Directors upon completion of the purchase, with such nomination subject to approval by Canyon's shareholders and its existing Board.

Vista and predecessor companies operated the Hycroft mine from 1983 to 1999, and during that period, the mine produced over 1 million ounces of gold. The mine produced 112,685 gold ounces in 1998 prior to temporary suspension of mining operations due to low gold prices at the end of 1998. In 2004, Mine Development Associates of Reno, Nevada, completed a Canadian National Instrument 43-101 compliant update of the feasibility of restarting operations, as previously reported. In the study, it was estimated that the proven and probable reserves in a defined open-pit were 32.4 million tons of ore grading 0.0175 gold ounces per ton containing 566,500 ounces of gold. The pit containing these reserves also contained an additional approximately 5 million tons of inferred resources(1) containing about 144,000 gold ounces.

Mike Richings, Vista President and CEO, stated, "The deal with Canyon represents a significant step forward in Vista's strategy. We have held the Hycroft mine during a period of low gold prices during which we improved the value through continued exploration and engineering studies. We look forward to the eventual sale of this mine to Canyon, an experienced operating company, which we believe can put the gold mine back into production and achieve significant returns. Vista would, through its substantial ownership of Canyon, benefit from this and continue to provide its shareholders with exposure to the upside of future exploration and development success. The funds from the sale will allow Vista to advance and add value to the significantly larger Paredones Amarillos and Awak Mas projects, and to continue to acquire additional gold resources. We expect higher gold prices in the future, but we believe it is better to take this timely offer from Canyon rather than waiting and incurring the continued burden of the holding costs."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Awak Mas project in Sulawesi in Indonesia.

  (1) Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This press release 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 other
      economic study. 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 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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 Luzon Minerals Ltd. has informed Vista that it wishes to exercise its option to purchase Vista's Amayapampa gold project in Bolivia. Mike Richings, Vista President and CEO, stated, "We are very pleased that Luzon has decided to proceed, although the bankable project feasibility study is still in the final stages of completion. We also wish to congratulate Luzon on achieving a major milestone in the development of this excellent project by reaching a socio-economic agreement with the local communities affected by the proposed development."

In addition, the companies have agreed, subject to regulatory approval, to further amend the terms of the original purchase option agreement with respect to the payments previously due on January 15, 2005 and January 1, 2006. The amended agreement calls for Vista to receive from Luzon, within 5 business days of receiving TSX Venture Exchange approval, a payment consisting of US$100,000 and 2,000,000 Luzon common shares. This will be followed, on the earlier of June 15, 2005 or the date of the next financing completed by Luzon after January 19, 2005, by a payment of US$850,000 in cash or, at Luzon's option, US$425,000 in cash and US$425,000 in units consisting of Luzon common shares and warrants to purchase common shares.

The final payment will be made at the earlier of the start of construction or June 15, 2006. This payment remains unchanged from the original agreement, as reported in December 2003, in that Luzon will pay Vista US$4,000,000 in cash, or at Vista's option, a combination of Luzon common shares and cash based on Luzon's share price. If Luzon completes the purchase, and when production commences, Vista will also receive a 3% net smelter type royalty on gold production at gold prices of US$450 per ounce or below and 4% at gold prices above US$450 per ounce. Other terms of the agreement remain unchanged.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, and the Awak Mas project in Sulawesi in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce the promotion of Howard M. Harlan, R.G., C.P.G., to the position of Vice President, Business Development and the appointment of Warren R.G. Bates, P. Geo., to the position of Chief Geologist. Mr. Harlan was previously Manager, Corporate Administration with the Company and Mr. Bates was International Exploration Manager. Mr. Harlan has over 35 years experience in exploration, development, operations, project evaluation, and mergers and acquisitions in the mining industry in North and South America. Mr. Harlan holds B.S. and M.S. degrees in Geology from the University of Arizona and is a registered geologist and certified professional geologist.

Mr. Bates joined the Vista Gold/Granges exploration team in 1985. He has managed exploration programs for gold, copper, nickel and diamonds in North and South America, working in a variety of geologic and geographic locations. Mr. Bates is experienced in grass-roots exploration and mine site exploration, and has also worked on project acquisitions and evaluations. He holds Honors degrees in Chemistry and Geology from the University of Manitoba, and is a Qualified Person under Canadian National Instrument 43-101 requirements.

In its Quarterly Report on Form 10-Q for the quarter ended September 30, 2004, to be filed with the US Securities and Exchange Commission, Vista reports a consolidated net loss of US$1.0 million or US$0.07 per share compared to a net loss of US$0.5 million or US$0.04 per share for the quarter ended September 30, 2003. The increase in losses of US$0.5 million compared to the same period last year resulted in part from increased exploration, property evaluation and holding costs of US$0.2 million reflecting the reclassification of tax expense relating to the Hycroft reclamation bond which was previously stated as restricted cash, a US$0.07 million reduction in gold sales, and increased property evaluation costs of US$0.08 million. As well, stock-based compensation, which was not previously reported in 2003 as an expense was US$0.12 million, compared to zero in the same previous period. For the nine months ended September 30, 2004, Vista reported a consolidated net loss of US$3.6 million or US$0.23 per share compared to a net loss of US$2.0 million or US$0.16 per share for the same period in 2003.

At the end of the quarter the Corporation had working capital of US$8.6 million and no debt.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, and the Awak Mas project in Indonesia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier 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 signed an option agreement to acquire the Awak Mas gold deposit located in Sulawesi, Indonesia, for a purchase price of U.S. $1,500,000. Under the terms of the agreement, the Corporation will have up to six months to conduct due diligence while paying the owners U.S. $15,000 per month. The monthly option payments, as well as costs up to U.S. $150,000 expended to correct any deficiencies in asset standing, will be credited towards the purchase price.

A resource analysis for the Awak Mas project was prepared on October 28, 2004, by RSG Global Pty Ltd of West Perth, Australia, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines under the supervision of Brett Gossage, a Qualified Person. The resource analysis report includes the results of 85,030 assay intervals from 814 core and reverse circulation drill holes done by Battle Mountain Gold, Lone Star and Masmindo from 1991 through 1997 with assaying by Inchcape Testing Services. A final feasibility study was completed by independent consultants in 1997 for Lone Star supporting a mining scenario of 3 million metric tons per year of ore. Independent valuations of the project were completed in 2000 and 2003 as well. Over AUD $46 million has been spent on the project.

Based on the resource analysis report, the gold resources, reported at a cutoff grade of 0.5 grams gold per ton are:

                                  Short Tons         Grade   Contained Gold
                                    (000s)         (ounces        Ounces
                                                   per ton)
  Measured and indicated
   resources 1)                    52,580           0.032       1,656,000
  Inferred resources 2)             8,250           0.032         259,000

1) Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This table uses the term "measured and indicated 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. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category 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 other economic study. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.

Vista President and CEO Mike Richings stated "The potential to acquire high quality measured and indicated resources of 1.7 million gold ounces plus an inferred resource of 0.3 million gold ounces at a cost of U.S. $1.5 million is very attractive to Vista. We believe the recent election results in Indonesia bode well for the country and foreign investments in resource projects in Indonesia. And, with rising gold prices, we expect Awak Mas to be an increasingly valuable addition to Vista's asset base."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce the appointment of W. Durand Eppler of Denver, Colorado, to the Board of Directors effectively immediately. Mr. Eppler holds an M.S. degree in Mineral Economics from the Colorado School of Mines. Recently, with Newmont Mining Corporation, he held positions of Vice President of Newmont Capital, Ltd., President of Newmont Indonesia, Vice President of Corporate Development and Vice President of Corporate Planning. He also has considerable domestic and international banking experience with major U.S. banks. Mr. Eppler fills a Board vacancy with a term that expires at the next annual general meeting of shareholders. The vacancy was created by the unexpected passing of President Jock McGregor in late May.

"The addition of Randy Eppler brings strength to our company, particularly in the business development and financial areas, and we are very pleased to welcome him to our Board of Directors," said Mike Richings, President and CEO.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce the closing of the private placement previously announced on July 28, 2004. The Corporation raised gross proceeds of U.S. $6,489,304.80 from the sale of 1,966,456 units priced at U.S. $3.30 per unit. Each unit consists of one common share and one warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of U.S. $4.75 for a period of two years from the date of issue, provided a registration statement is declared effective by the U.S. Securities and Exchange Commission within six months of the closing date; otherwise, the exercise price of each warrant will be reduced automatically to U.S. $4.25.

Starting six months after the share registration is declared effective, if the closing price of Vista's common shares on the American Stock Exchange is U.S. $5.50 or more for a period of 20 consecutive trading days, then for 15 business days Vista will have the option to request that the warrants be exercised. If the warrants are not exercised within 15 business days following this request, they will be cancelled.

A cash finder's fee of 5% of the gross proceeds raised was paid to an advisor to the corporation in conjunction with the private placement.

"The proceeds of this private placement will allow us to continue with our strategy of acquiring additional gold resources, as suitable opportunities arise; improving our gold projects through additional drilling, re-engineering and feasibility studies; and provide for on-going administration costs," said Mike Richings, President and Chief Executive Officer.

The securities described above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (TSX: VGZ; Amex) is pleased to announce the results of an updated feasibility study for the Hycroft Mine issued on August 23, 2004, by Mine Development Associates (MDA) of Reno, Nevada, an independent consulting firm, in accordance with Canadian National Instrument 43-101 guidelines, under the supervision of Mr. Neil Prenn, P. Eng., a Qualified Person. The Hycroft open-pit, heap-leach, gold mine is located 54 miles west of Winnemucca, Nevada, and has produced in excess of one million ounces of gold and two million ounces of silver. The mine is currently on a care and maintenance basis.

The Hycroft resource estimate is based on a database containing 575 drill holes with assaying done by the Barringer Laboratories of Reno, Nevada, and the Hycroft Mine laboratory, with checking assaying by ALS Chemex Laboratories of Reno, Nevada, and Vancouver, B.C., Canada, American Assay Laboratories of Sparks, Nevada, and Cone Geochemical of Denver, Colorado. An open pit was designed using a Lerchs-Grossman optimization at US$375 per ounce gold price and a 0.005 opt cyanide-soluble gold cutoff grade. Measured and indicated gold resources (1) as of August 23, 2004, are:

                 Hycroft Measured and Indicated Resources (1)
                 (0.005 opt cyanide-soluble gold cutoff grade)

                                 Short Tons    Fire Assay      Contained
                                               Gold Grade     Gold Ounces
                                                  (opt)

   Measured resources (1)        23,287,000       0.0165        385,100
   Indicated resources (1)       24,192,000       0.0153        369,400
   Totals                        47,479,000       0.0159        754,600

   (1) Cautionary Note to U.S. Investors concerning estimates of Measured
       and Indicated Resources:  This table uses the terms "measured 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.

       Inferred gold mineralization (2) exists within the US$375 per ounce
       gold price pit outline and the pit outline using a US$450 per ounce
       gold price, as shown in the following table.

                        Hycroft Inferred Resources (2)
                 (0.005 opt cyanide-soluble gold cutoff grade)

                                 Short Tons    Fire Assay      Contained
                                               Gold Grade     Gold Ounces
                                                  (opt)

   Inferred resources, inside
    US$375 designed pit (2)       5,210,000       0.0154         80,400
   Inferred resources, between
    the US$375 gold designed
    pit and US$450 gold pit (2)   6,819,000       0.0078         53,200
   Totals                        12,029,000       0.0111        133,600

   (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 feasibility 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.

       Proven and probable reserves were determined within a design pit
       based on a US$375 per ounce of gold Lerchs-Grossman optimization and
       the results are summarized in the following table.

                       Hycroft Mineral Reserve Estimate
                 (0.005 opt cyanide-soluble gold cutoff grade)

             Short Tons  Fire Assay   Contained                Strip Ratio
                         Gold Grade  Gold Ounces   Waste Tons  (Waste:Ore)
                           (opt)

   Proven    16,269,000    0.0180      293,000
   Probable  16,160,000    0.0169      273,500
   Totals    32,429,000    0.0175      566,500     57,796,000      1.78

MDA updated capital and operating cost estimates for the feasibility study, assuming a nominal mining rate of 24 million tons per year of all materials. Using a mining equipment leasing scenario, a gold price of US$400 per ounce and a silver price of US$6.00 per ounce, a pre-tax internal rate of return of 16.4% was calculated on proven and probable reserves. Total cash costs were estimated at US$252 per gold ounce.

A sensitivity analysis was done including Inferred materials within the design pit and the pre-tax internal rate of return improved to 29.2%, with total cash costs per gold ounce decreasing to US$232. More drilling is necessary to confirm the presence of Inferred materials, and it is not known how much of these Inferred materials will be converted to Measured or Indicated Resource classification.

At the Paredones Amarillos gold project in Baja California Sur, Mexico, Vista has targeted the Tocopilla Zone for additional exploration work in 2004 and 2005. This zone, measuring about one square kilometer in known surface expression, and located about five kilometers north of Paredones Amarillos, has the same geologic setting to the Paredones Amarillos deposit, consisting of diorite overlying and separated from granodiorite by a major shear zone. The Paredones Amarillos deposit contains 1,882,000 gold ounces in the Measured and Indicated categories as reported previously by the Company, and was the subject of a feasibility study completed in 1997 by Echo Bay Mines. The Tocopilla Zone was identified late in 1997 by Echo Bay geologists, just prior to shelving the project due to low gold prices. Initial surface sampling by Echo Bay returned anomalous gold values, including surface rock chip samples to 21 grams gold per tonne and trench samples including 1.9 grams gold per tonne over 19 meters. Vista plans to complete mapping and surface sampling of the Tocopilla Zone, with the intent of drilling favorable targets in late 2004 or early 2005. Vista has also begun work to optimize and update the Paredones Amarillos feasibility study completed by Echo Bay in 1997.

Mike Richings, President and CEO, commented, "Progress at both Hycroft and Paredones Amarillos demonstrate Vista's continued commitment to increasing shareholder value through bringing our existing projects closer to production decisions, and optimizing the projects by re-engineering. The discovery of a previously undefined zone of potential mineralization near Paredones Amarillos is particularly exciting in that we may be able to increase our resource base here through exploration on land we already own, and for a nominal cost."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation 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 Howard Harlan at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Howard Harlan of Vista Gold Corp., +1-720-981-1185

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

The Board of Directors of Vista Gold Corp. (TSX: VGZ; Amex) is pleased to announce the appointment of Michael B. Richings as President and CEO of Vista Gold Corp. Mr. Richings had been previously appointed interim President and CEO following the untimely passing of Ronald (Jock) McGregor. Mr. Richings stated, "My plans are simply to keep advancing the company towards the goals already established. These are to use our resources wisely to increase the quantity and quality of our gold reserves and resources, thereby enhancing shareholder value. We believe Vista Gold is well positioned to take advantage of rising gold prices by continuing our current strategy and we will continue to promote investor awareness of our company."

In its Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, to be filed with the US Securities and Exchange Commission, Vista reports a consolidated net loss of US $1.4 million or US $0.09 per share compared to a net loss of US $0.6 million or U S$0.05 per share for the quarter ended June 30, 2003. The increase in loss of $0.8 million compared to the same period last year resulted in part from increased exploration, property evaluation and holding costs of $0.2 million reflecting the Corporation's growing resource base and increased holding costs at the Hycroft Mine where operations have been suspended since December 1998. The increased costs at Hycroft resulted from reduced gold production, which in past periods had partially offset expenses. Corporate administration and investor relations costs were higher by $0.4 million from the respective prior period mainly due to increased regulatory and compliance expenses and a higher level of investor relations activity. Finally stock-based compensation, which was not previously reported in 2003 as an expense was $0.08 million, compared to zero in the same previous period. For the six months ended June 30, 2004, Vista reported a consolidated net loss of US $2.5 million or US $0.17 per share compared to a net loss of US $1.5 million or US $0.12 per share for the same period in 2003.

At the end of the quarter the Corporation had working capital of $4.6 million and no debt.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announces that its Board of Directors has approved a US$500,000 payment in common shares of the Corporation towards the purchase of a 100% interest in the Guadalupe de los Reyes gold project in Sinaloa State, Mexico, and a data package associated with the project and general area. Under the August 2003 purchase agreement, the aggregate purchase price is US$1.4 million and a 2% NSR-type royalty. Vista has paid US$400,000 in prior payments. The agreement provides that the current US$500,000 payment may be made in cash or common shares at the option of the Corporation. The number of shares issuable is to be determined by dividing US $500,000 by the average closing price of Vista's common shares on the American Stock Exchange over the last ten trading days immediately prior to July 31, 2004. Accordingly, the current issuance will amount to 138,428 common shares.

An additional US$500,000 in cash will be paid by way of US$100,000 payments on each of the second through sixth anniversaries of the signing of the formal agreement, with the outstanding balance becoming due upon commencement of commercial production. Vista retains the right to terminate the agreement at any time.

A resource study completed in 2003, the results of which were announced previously, reported the presence of 277,600 ounces of indicated(1) gold resource and 247,850 ounces of inferred(2) gold resource at a cutoff grade of 0.016 opt gold. The project includes significant silver values.

The Corporation is compiling and reviewing data and is considering updating a pre-feasibility study that was done by Pincock, Allen & Holt of Denver, Colorado in 1998.

"We believe the whole district needs to be consolidated, and we hold the heart of it," President and CEO Mike Richings commented. "Guadalupe de los Reyes has previously been studied for low-grade, open-pit development. Our interpretation of the deposit is that there is significant potential for high-grade material down-dip of the old workings which hasn't been adequately drill tested."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

   1  Cautionary Note to U.S. Investors concerning estimates of Indicated
      Resources: This news release uses the term "indicated
      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.  U.S. investors are
      cautioned not to assume that any part or all of mineral deposits
      in this category will ever be converted into reserves.

   2  Cautionary Note to U.S. Investors concerning estimates of Inferred
      Resources: This news release 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 or other economic
      study.  U.S. investors are cautioned not to assume that any part or
      all of an inferred resource exists or is economically or legally
      mineable.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Howard Harlan at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Howard Harlan of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announced today that Luzon Minerals Ltd. ("Luzon") has informed Vista that it has completed its initial due diligence program on the Company's Amayapampa project in Bolivia. As previously reported, in December 2003, the Company agreed to sell its Amayapampa project to Luzon, which is in the process of updating the feasibility study completed by Vista in 2000 and negotiating a socio-economic agreement with the community surrounding the Amayapampa project.

The companies have agreed to modify the terms of the purchase option agreement. Under the modified terms, subject to regulatory approval, as soon as practicable following August 1, 2004, Luzon will issue Vista 200,000 common shares and assume all holding costs for the project. On January 15, 2005, Luzon will make a further payment of US$900,000 and issue Vista an additional 2,000,000 common shares. To date, Luzon has paid Vista US$100,000 and issued Vista 50,000 common shares. The initial agreement called for Luzon to pay Vista US$1,000,000, less any payments made, at the end of the due diligence period and issue Vista an additional 2,000,000 common shares. Luzon may withdraw at any time by forfeiting all payments made as of that time.

The remainder of the agreement is the same as reported in December 2003, as follows: at the earlier of start of construction or January 1, 2006, Luzon will pay Vista US$4,000,000 or, at Vista's election, a combination of shares and cash based on Luzon's share price, not to exceed 5,200,000 shares or US$4,000,000 cash. Luzon will grant Vista a 3% NSR type royalty where the price of gold is less than US$450 per ounce and a 4% NSR type royalty where the price of gold is $450 per ounce or more.

Mike Richings, President and CEO, stated, "We are pleased to see the progress that Luzon is making and that the engineering and design work previously completed by Vista is helping advance the project towards development."

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Howard Harlan at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Howard Harlan of Vista Gold Corp., +1-720-981-1185

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

Vista Gold Corp. (Amex: VGZ; TSX) announces that subject to regulatory approval, it plans to undertake a private placement financing, which if completed, will raise gross proceeds of up to U.S. $6.5 million from the sale of up to 1.96 million units priced at U.S. $3.30 per unit. The proceeds will be used for the acquisition of additional projects, if suitable opportunities arise; maintenance and evaluation of current projects and on-going administration costs. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of U.S. $4.75 for a period of two years from the date of issue.

The terms of the private placement will require Vista to register for resale, under the U.S. Securities Act of 1933, the common shares issued in the placement, as well as the common shares issuable upon the exercise of warrants. Starting six months after the share registration date, if the closing price of Vista's common shares on the American Stock Exchange is U.S. $5.50 or more for a period of 20 consecutive trading days, then for 15 business days Vista will have the option to request that the warrants be exercised. If the warrants are not exercised within 15 business days following this request, they will be cancelled.

A cash finder's fee of 5% of the gross proceeds raised will be paid to an advisor to the corporation in conjunction with the private placement.

The securities described above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Howard Harlan at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Howard Harlan 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 with Pintail Environmental Solutions, LLC (Pintail), a Denver-based biotechnology firm. The agreement calls for Pintail to complete a development program and feasibility study to demonstrate the economic and technical feasibility of recovering gold from the currently dormant heap leach pads located at the Hycroft mine site in Nevada. These pads have been treated previously to recover gold but still contain approximately 600,000 ounces of gold. Pintail is an innovative U.S. research and development firm, which has, over the last 17 years, successfully developed technology employing various natural microbial processes to enhance and accelerate gold recovery through solution leaching. Pintail believes their technology may be used to treat the gold ore in the heap leach piles and recover significant percentages of the remaining gold.

The study, to be funded solely by Pintail, is expected to last one year and to cost U.S. $500,000. If the study demonstrates that gold can be recovered for a total cost (capital plus operating costs) per recovered gold ounce of less than one half the then prevailing gold price, Pintail will earn a 50% interest in a joint venture to develop a commercial gold operation to produce gold from the heap leach piles.

Mike Richings, President and CEO, stated, "We are excited at Vista to work with Pintail on this project. Pintail is a world leader in developing this biological-based gold recovery technology. This is an example of advanced engineering technologies that Vista seeks to utilize in order to add value to all our projects."

Vista is not currently considering selling the Hycroft Mine but rather, is seeking joint venture partners to help develop the full potential of the property and minimize risk. Although Hycroft has existing proven and probable gold reserves, and Vista is currently updating the feasibility of mining these reserves, the Company believes there is considerable potential for additional gold reserves. Some of these reserves can be defined and developed by Vista but others are deep and may be better suited to exploration and development using the more substantial financial resources of a major mining company.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, and the Amayapampa project in Bolivia.

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 targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Corporation 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 Howard Harlan at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

SOURCE: Vista Gold Corp.

CONTACT: Howard Harlan of Vista Gold Corp., +1-720-981-1185

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