Vista Gold Corp. Announces Gold Resource Estimate for the Awak Mas Gold Project, South Sulawesi, Indonesia



    DENVER, June 6 /CNW/ -- 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 15A0 and 50A0, 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





For further information:

For further information: Greg Marlier of Vista Gold Corp., 
+1-720-981-1185 Web Site: http://www.vistagold.com


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