Vista Gold Corp. Announces Positive Metallurgical Test Results for the Mt. Todd Project, Northern Territory, Australia, and Appointment of Thomas DeMull as Senior Vice President, Project Development



    



    
    DENVER, Aug. 26 /CNW/ -- Vista Gold Corp. ("Vista") (TSX & NYSE Amex:  
VGZ) announced today the updated results of metallurgical tests completed for
the Mt. Todd gold project, Northern Territory, Australia, and the appointment
of Thomas DeMull as Senior Vice President, Project Development.

    As part of the on-going engineering studies on the development of the Mt.
Todd gold project, Resource Development, Inc. ("RDi") of Wheat Ridge,
Colorado, JKTech Pty Ltd ("JKTech") of Queensland, Australia, and Ausenco
Services Pty Ltd ("Ausenco") of Perth, Australia, have recently completed
additional successful metallurgical test programs and simulations.  The
metallurgical tests were conducted on core from the 2008 Mt. Todd drilling
program that is believed to be representative of approximately 80% of the ore
contained in the pit shape identified in Vista's May 2009 Preliminary Economic
Assessment (please refer to Vista's press release dated June 4, 2009).

    The RDi test work confirms a gold recovery of 82% in a whole ore leach
circuit with ore that has been ground to a relatively coarse size of 80%
passing 100 mesh.  JKTech completed testing to determine ore grinding
characteristics for both conventional crushing/grinding as well as crushing
with high pressure grinding rolls ("HPGR") followed by grinding.  The results
of the JKTech testing together with other information were used by Ausenco in
a comminution circuit simulation.  The work by Ausenco confirmed earlier test
work completed by Vista, and indicated energy and operating cost savings may
be realized by utilizing HPGR technology for processing the Mt. Todd ore. The
results of these studies and simulations will be incorporated into the
Preliminary Feasibility Study(2)  ("PFS") which Vista expects to complete in
the fourth quarter of this year.

    Commenting on the test results, Fred Earnest, Vista's President and Chief
Operating Officer, stated, "The Mt. Todd test program continues to advance,
confirming the selection of process technology and developing input parameters
for the PFS.  The PFS is examining the best approach to develop the estimated
4.25 million ounces of measured and indicated gold resource (147.6 million
tonnes at 0.93 g/t)(1,2) and is targeting a potential mining operation with an
estimated annual production of approximately 250,000 ounces of gold per year. 
We are also nearing the completion of a review of exploration data and our
initial field programs on the extensive exploration leases, which we will use
to design our next exploration program.  We believe further drilling on the
Batman deposit and on the surrounding exploration leases will define a
significantly larger gold resource."

    Additionally, on September 10, 2009, Thomas DeMull will assume the
position of Senior Vice President, Project Development.  Mr. DeMull holds a MS
degree in Metallurgical Engineering from Michigan Technology University and
has over 30 years of experience in the development and operation of gold and
copper mines.  He has worked in North and South America and the Asian-Pacific.
Over the past 25 years, Tom has worked on 10 new mine projects, six of which
became operating mines, including the Sleeper mine in Nevada and Newmont's
Batu Hijau mine in Indonesia.  Most recently, Mr. DeMull held the position of
President and CEO of Rocky Mountain Resources Corp.

    Fred Earnest, Vista's President and Chief Operating Officer, stated, "We
are very pleased to have an executive with Tom's qualifications join our team.
 We believe his talents and experience will allow him to make immediate
contributions to our Mt. Todd and Paredones Amarillos development projects."

    Except as described above, Deepak Malhotra, PhD, is the independent
"qualified person" within the meaning of NI 43-101 who supervised the
preparation of the scientific and technical information that forms the basis
of 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 increase their value. For more
information about our projects, including technical studies and resource
estimates, please visit our website at www.vistagold.com. Vista has taken
steps to advance the Paredones Amarillos gold project located in Baja
California Sur, Mexico, towards production.  These steps include the
completion of a definitive feasibility study, the purchase of long-delivery
processing equipment, and the purchase of land for the processing facilities,
related infrastructure and the desalination plant. The results of a
Preliminary Economic Assessment completed in 2009 on the Mt. Todd gold project
in Australia are encouraging and Vista is undertaking other studies to advance
the project, with the completion of a preliminary feasibility study targeted
for the fourth quarter of 2009   Vista's other holdings include the Guadalupe
de los Reyes gold project in Mexico, Yellow Pine gold project in Idaho, Awak
Mas gold project in Indonesia, and the Long Valley gold project in California.

    This press release contains forward-looking statements within the meaning
of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange
Act of 1934, as amended, and forward-looking information within the meaning of
Canadian securities laws.  All statements, other than statements of historical
facts, included in this press release that address activities, events or
developments that Vista expects or anticipates will or may occur in the
future, including such things as the conversion of inferred resources to
measured and indicated resources, the potential for gold resources in the
Batman deposit and other targets within the Mt. Todd gold project, the
waste-to-ore ratio at Mt. Todd, the successful completion of a metallurgical
testing program at Mt. Todd,  the representativeness of metallurgical results
for the Mt. Todd gold project, the timing and outcome of a Mt. Todd
pre-feasibility study,  estimates  of future operating, annual production and
financial performance of the Mt. Todd gold project, the targeted annual
production of the Mt. Todd gold project,  uncertainty of mine planning
criteria and design, future gold prices, future U.S.-to-Australian dollar
exchange rates, the improved efficiencies of high pressure grinding roll
technology, favorable effects of Mt. Todd project economics, Vista's ability
to add value in a cost-effective manner, plans for the construction and
development of the Paredones Amarillos gold project, and the possibility of
production at the Paredones Amarillos gold project and other such matters are
forward-looking statements and forward-looking information. When used in this
press release, the words "potential," "target," "estimate," "indicate,"
"expect," "intend," "hopes," "believe," "may," "will," "if" and similar
expressions are intended to identify forward-looking statements and
forward-looking information.  These statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Vista to be materially different from any
future results, performance or achievements expressed or implied by such
statements.  Such factors include, among others, uncertainty of resource
estimate results estimates on which such results are based; uncertainty of
mine planning criteria and design including uncertainty related to targeted
annual production rates of the Mt. Todd gold project, risks relating to
completing metallurgical testing and scheduling for pre-feasibility studies;
risks relating to cost increases for capital and operating costs including
cost of power; risks relating to delays at the Mt. Todd gold project; risks of
shortages of equipment or supplies; risks relating to fluctuations in the
price of gold; the inherently hazardous nature of mining-related activities;
risks relating to permitting, uncertainties concerning 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; risks related to repayment of debt; risks related to increased
leverage 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, as amended and Quarterly Report on Form 10-Q and other documents
filed with the U.S. Securities and Exchange Commission and Canadian regulatory
authorities.  Although Vista has attempted to identify important factors that
could cause actual results to differ materially from those described in
forward-looking statements and forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. 
Except as required by law, Vista assumes no obligation to publicly update any
forward-looking statements or forward-looking information; whether as a result
of new information, future events or otherwise.

    (1)  For more information on the Mt. Todd gold project, please see
Vista's technical report(2)  entitled "Mt. Todd Gold Project Updated
Preliminary Economic Assessment Report, Northern Territory, Australia" dated
June 11, 2009 available on SEDAR at www.sedar.com.  Mr. John Rozelle, is the
independent "qualified person" within the meaning of National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for the
mineral resource estimate of the Mt. Todd gold project included in this press
release.

    (2)  Cautionary Note to U.S. Investors concerning estimates of Measured
and Indicated Resources: This press release and the PFS and technical report
referenced in this press release use the terms "Measured Resources",
"Indicated Resources" and "Measured & Indicated Resources." We advise U.S.
investors that while these terms are defined in and required by Canadian
regulations, these terms are not defined terms under the U.S. Securities and
Exchange Commission ("SEC") Industry Guide 7 and are normally not permitted to
be used in reports and registration statements filed with the SEC. The PFS and
technical report referenced in this press release use the term "inferred
resources". We advise U.S. investors that while this term is defined in and
required by Canadian regulations, this term is not a defined term under SEC
Industry Guide 7 and is normally not permitted to be used in reports and
registration statements filed with the SEC. "Inferred resources" have a great
amount of uncertainty as to their existence, and great uncertainty as to their
economic and legal feasibility. It cannot be assumed that 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. The
SEC normally only permits issuers to report mineralization that does not
constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and
grade without reference to unit measures.  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.

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





    




For further information:

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


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