Vista Gold Corp. Announces Results of a Preliminary Economic Assessment and Increases Estimated Measured and Indicated Resources by 12.8% at Its Mt. Todd Gold Project, Northern Territory, Australia



    



    
    DENVER, June 4 /CNW/ -- Vista Gold Corp. ("Vista") (TSX & NYSE Amex
Equities: VGZ) is pleased to announce the results of a Preliminary Economic
Assessment ("PEA") for the Batman deposit at the Mt. Todd gold project in
Northern Territory, Australia.  The PEA reflects the technical studies which
Vista has undertaken since the issuance of the initial PEA on December 29,
2006, including over 18,000 meters of diamond drilling, a two-year
metallurgical program which included crushing and grinding, flotation and
leach testwork, mine design and various preliminary engineering studies and
cost estimates. The PEA was prepared by TetraTech Inc. of Golden, Colorado,
under the direction of Mr. John Rozelle, an independent qualified person under
Canadian National Instrument 43-101 ("NI 43-101").

    Three potential operating scenarios were evaluated using a gold price of
$750 per ounce (three year running average), an exchange rate of US$1 = A$1.35
and first quarter 2009 costs. The results of the PEA indicate that development
of the base case alternative would have an estimated cash cost of $453 per
ounce and a pre-tax Internal Rate of Return ("IRR") of 21.6%. The total gold
mined over the 15.2 year mine life is estimated to be 4,526,000 ounces, with
an estimated annual production of 245,500 ounces (with average production over
the first three years of 296,700 ounces). The PEA estimated that an economic
gold cut-off grade of approximately 0.4 grams gold per tonne should be
employed which results in a 12.8% increase (579,000 ounces) in Measured and
Indicated  Resources(1).

    Fred Earnest, President and COO of Vista, stated, "The results of the PEA
are very encouraging and follow two years of successful exploration programs
and a comprehensive metallurgical test program.    The Mt. Todd project has
grown considerably since our acquisition of the project and we are confident
that there is potential for continued substantial growth in resources. The
results of the PEA are positive with an IRR of 21.6% at long-term gold prices
of US$750 per ounce and an IRR of 37.7% at a US$950 gold price.  We plan to
advance the project as a matter of priority and are progressing towards the
completion of the pre-feasibility study which we anticipate will enable the
estimation of Mineral Reserves(4). We are also hopeful that the results of the
next drilling program will convert most of the estimated Inferred Resources(2)
at Mt. Todd to Measured and Indicated Resources(1) within the Base Case pit.
To date we have focused nearly all of our energy on the Batman deposit. Under
the direction of Frank Fenne (VP Exploration) and Peter Harris (Mt. Todd
Exploration Manager), we are evaluating other targets, which we plan to drill
during the next 12 months on the Mining Licenses ("ML's") and within the
extensive area surrounding the ML's covered by our Exploration Licenses. We
believe that we have a world-class gold deposit at Mt. Todd."

    The PEA evaluated three operating scenarios.  The parameters and pre-tax
results are summarized in the following table.


    
                LG Pit   Resources     Cut-off   Internal  Net Cash    NPV8 @
                Shell    used in the   Grade     Rate of     Flow      US$750
                (US$/oz   Evaluation  (grams     Return    (US$000's)  per
                 Au)       (1)(2)       gold    @ US$750  @ US$750    ounce
                                        per      per ounce   per      Gold(3)
                                        tonne)    Gold(3)   ounce
                                                            Gold(3)
    

    
    Base Case   600     Measured,
                        Indicated &
                         Inferred        0.42      21.6%    646,682   232,894
    Case 2      550     Measured &
                        Indicated        0.58      23.1%    485,697   211,916
    Case 3      750     Measured,
                        Indicated &
                         Inferred        0.34      20.4%    815,944   302,153
    


    
    Notes:  The Lerchs-Grossman economic pit shells formed the basis for the
final pit designs which incorporated pit wall smoothing and ramps. NPV(8) is
the pre-tax net present value calculated with an 8% discount rate.  The IRR is
calculated on a pre-tax basis.

    
    On January 26, 2009, Vista announced a new mineral resource estimate that
incorporated the results of the 2008 drilling program.  The resource estimate
report can be found on SEDAR at www.sedar.com, entitled "MT. TODD GOLD
PROJECT, Gold Resource Update, Northern Territory, Australia" dated February
27, 2009.  The resource estimate was reported assuming a gold cut-off grade of
0.50 grams per gold tonne, slightly higher than the PEA report's economic gold
cut-off grade of approximately 0.4 grams per gold tonne.  The resource
estimate report represents an increase in estimated Measured Resources(1)  of
119,000 ounces of gold and an increase in Indicated Resources(1)  of 460,000
ounces of gold resulting in a combined estimated increase in Measured and
Indicated Resources(1)  of 579,000 ounces of gold at a cutoff grade of 0.40
grams per tonne (0.015 ounces of gold per ton).  The updated gold mineral
resource estimate for the Batman deposit as of January 23, 2009, assuming a
cutoff grade of 0.40 grams of gold per tonne is set out below.
    


    

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

    
    Measured(1)    52,919     0.91          58,333       0.026        1,543
    Indicated(1)  138,020     0.81         152,139       0.024        3,581
    Measured &
     Indicated(1) 190,939     0.84         210,472       0.024        5,125
    Inferred(2)    94,008     0.74         103,625       0.022        2,244


    
    TetraTech worked with Resource Development inc. ("RDi") of Arvada,
Colorado and Ausenco of Perth, Australia in the completion of the PEA.  Key
elements of the PEA are summarized below.
    

    In Pit Mineral Resource Estimation
    
    At the present time, the Mt. Todd gold project contains no CIM definable
Mineral Reserves(3) .  However, in accordance with accepted standards for a
PEA, Measured and Indicated Resources(1)  (and in two cases, Inferred
Resources(2)) have been used as the basis for the economic evaluation.  The
Base Case(3) final pit design is based on the US$600 per ounce gold
Lerchs-Grossman ("LG") economic pit which used all three mineral resource
classifications in its analysis.  Case 2 is a more conservative case with the
final pit design based on the US$550 per ounce gold LG economic pit which used
only Measured and Indicated Resources(1).  Case 3(3) evaluates the up-side
potential of the project with the final pit design based on the US$750 per
ounce gold LG economic pit which used all three mineral resource
classifications.  In all three cases, the LG economic pit was smoothed and
ramps were added to arrive at a final pit design.  Mine production schedules
were developed for the first three years of operation, after which an average
ore and waste profile was used as the basis for the cash flow analysis.  The
following table summarizes the estimated mineral resources included in the PEA
for each of the three cases.
    


    

    
    Base Case(3) (US$600     Tonnes            Grade        Contained
     Design)                 (000's)       (grams Au per     Ounces
                                               tonne)        Gold(1)
    

    
       Measured
        Resources(1)         46,528            0.95        1,421,110
       Indicated
        Resources(1)        101,041            0.87        2,826,530
       Inferred
        Resources(2)         14,249            0.73          334,420
    


    
    Case 2 (US$550 Design)  Tonnes           Grade          Contained
                            (000's)      (grams Au per        Ounces
                                             tonne)           Gold(1)
    

    
       Measured
        Resources(1)        32,908             1.09        1,153,240
       Indicated
        Resources(1)        59,225             1.04        1,980,260
       Inferred
        Resources(2)         1,561             0.78           39,150
    


    
    Case 3(3) (US$750       Tonnes           Grade          Contained
     Design)                (000's)      (grams Au per        Ounces
                                             tonne)           Gold(1)
    

    
       Measured
        Resources(1)        56,790             0.87        1,588,480
       Indicated
        Resources(1)       152,060             0.75        3,666,630
       Inferred
        Resources(2)        44,912              070        1,010,770


    Mining
    
    In both the Base Case(3)  and Case 2, the operation has been sized to
mine and process 30,000 tonnes of ore per day (nominally 10.5 million tonnes
per year).  The estimated mine life of Base Case(3)  is 15.2 years and 8.9
years for Case 2. In Case 3(3)  the operation has been sized to mine and
process 60,000 tonnes of ore per day (nominally 21.0 million tonnes per year)
and the resulting mine life is 11.9 years.  In all three cases the mine
schedule and equipment requirements are based on an owner-operated fleet of
141 tonne trucks and 18 m(3)  shovels.   The mining costs are estimated to be
US$1.34 per tonne in the Base Case(3) , US$1.23 in Case 2 and US$1.26 in Case
3(3) .  Optimization of the project (including the fleet size) will occur as
part of the pre-feasibility study.  The following table presents basic mine
and project production results:
    


    

    
             Total      Life of    Average   Average   Average     Average
             Contained  Mine       Grade -   Grade -    Gold        Gold
             Ounces     Stripping Years 1-3  Life of Production - Production -
                        Ratio     (grams Au  Mine      Years 1-3  Life of Mine
                       (waste :   per tonne)(grams Au  ounces/year ounces/year
                        ore)                per tonne)
    

    
    Base
     Case(3) 4,526,000  1.9        1.06       0.87     296,700     245,500
    Case 2   3,163,000  2.7        1.18       1.05     331,300     291,600
    Case
     3(3)    6,200,000  1.6        0.87       0.76     486,700     429,700


    Processing
    
    Since acquiring the Mt. Todd gold project, Vista has been evaluating
processing alternatives for the Mt. Todd ore.  The metallurgical testing has
been aided by a better understanding of the mineralogy of the orebody after
two years of exploration drilling in the Batman deposit.  An investigation of
the sulfide species present in the deposit indicates that pyrite is the
predominant sulfide mineral near the surface with chalcocite and chalcopyrite.
 Near the bottom of the existing pit, pyrite begins to transition to
pyrrhotite and the chalcocite is replaced almost entirely by chalcopyrite.  At
depth, pyrrhotite becomes the dominant sulfide with lesser amounts of pyrite
and chalcopyrite.  Galena and sphalerite are also present in minor quantities
in various parts of the deposit. The transition out of the chalcocitic
mineralization in the early part of the project indicates that the quantity of
cyanide soluble copper in the deposit is considerably less than previously
thought and should not present any long-term processing challenges.

    Vista's metallurgical test programs have successfully focused on two
critical areas of the process flowsheet, namely: crushing/grinding and gold
recovery.  Several significant advancements have resulted in reductions in
operating costs without reducing gold recoveries.  Studies completed to date
have indicated that the Mt. Todd ore will be amenable to processing using high
pressure grinding roll ("HPGR") technology. The test work to date has
determined that a gold recovery of 82% can likely be achieved in a whole ore
leach circuit with a grind circuit product of 80% passing 100 mesh ("P(80) 
100").  Testwork completed by  RDi and Polysius indicate that a
crushing/grinding circuit with three stages of crushing followed by high
pressure grinding rolls and grinding in ball mills will have an 18.1
kilowatt-hour per tonne ore power requirement.  This is a 46% reduction in
power requirements compared to the previously contemplated conventional
crushing, SAG mill/ball mill circuit with an 80% passing 200 mesh product. We
expect that the process circuit will include cyanide detoxification prior to
tailings handling.  The processing costs are estimated to be US$5.75 per tonne
of material processed (exclusive of tailings treatment).
    

    Tailings Management
    
    As a result of the relatively coarse grind employed in the leaching
circuit (P(80)  100) and subsequent product size, Vista has evaluated
filtration and the use of a dry-stack tailings storage system.  A preliminary
evaluation indicates that the technology may be economically implemented at
Mt. Todd.  Employing dry-stack tailings results in a significant reduction in
capital costs compared to a conventional tailings storage facility and a small
increase in operating costs.  We expect that the material will be compacted
and the side slopes will be armored with rock and revegetated to minimize
erosion.  The tailings de-watering and stacking costs are estimated to be
US$0.36 per tonne of material processed.
    

    Water Management and Acid Rock Drainage
    
    Vista has implemented a water management program to handle surface
run-off and acid rock drainage ("ARD") from the existing, unreclaimed waste
dump and heap leach.  Vista expects to commission a lime treatment plant in
June as part of a planned improvement in the water management program.  Vista
plans to encapsulate the existing facilities and in a similar manner isolate
waste with an ARD potential prior to closure.  A passive treatment system will
be evaluated as part of the closure planning.
    

    Infrastructure
    
    The Mt. Todd mine site is 230 km southeast of the port of Darwin and 56
km by road north-northeast of the regional center of Katherine. Katherine and
Darwin are connected to Darwin by a railroad and the Stuart Highway. An
existing paved road connects the mine site to the Stuart Highway.  The site's
existing electric power facilities are sufficient for current and expected
construction requirements. During project operation, Vista expects to use
natural gas-fired generators as the source of project power and we have
included them in the capital and operating cost estimates.  An existing raw
water dam and reservoir is expected to provide water for the process
requirements.
    

    Operating Costs
    
    The operating costs have been developed based on current conditions in
Northern Territory, Australia.  Quotes have been obtained for diesel fuel and
natural gas as the primary energy components.  Labor rates have been developed
based on Vista's experience in Australia and have been compared to rates
provided by AUSENCO (the Australian engineering firm retained to complete the
pre-feasibility process engineering).  Mine equipment operating and
maintenance costs have been estimated based on US experience.  Reagent costs
have been provided by AUSENCO.  Grinding media costs have been estimated based
on world commodity prices.  All Australian costs have been converted to US$
costs using a foreign exchange rate of A$1.35 per US$1.  The following table
summarizes the operating costs for the three cases evaluated in the PEA.
    


    

    
                                                  Base     Case 2    Case
                                                 Case(3)              3(3)
    Mining (US$/tonne material mined)            $1.34     $1.23    $1.26
    Mining (US$/tonne material processed)        $3.84     $4.59    $3.25
    Milling (US$/tonne material processed)       $5.75     $5.75    $5.32
    Tailings De-watering (US$/tonne material
     processed)                                  $0.23     $0.23    $0.23
    Tailings Dry-Stacking (US$/tonne
     material processed)                         $0.13     $0.13    $0.13
    Environmental (US$/tonne material
     processed)                                  $0.05     $0.05    $0.05
    G&A (US$/tonne material processed)           $0.44     $0.44    $0.44
    Total Operating Costs (US$/tonne
     material processed)                        $10.44    $11.19    $9.42


    Capital Costs
    
    The mining capital equipment costs area based on budgetary quotes for the
first quarter 2009.  RDi obtained quotes for the major mill components. 
Capital costs for the remainder of the process area were estimated based on
accepted factors.  In Case 3, the same sized mining equipment was used even
though the mining rate doubled.  Vista views this as an opportunity for future
improvement in the project.  The process equipment capital costs for the
60,000 tonne per day mill were factored from the 30,000 tonne per day mill in
the base case.  A 20% contingency factor was applied to all capital costs and
is included in the estimate.
    

    Economic Analysis
    
    The cash flow analysis results for the three cases evaluated in the PEA
are summarized in the following table.
    


    

    
                                     Net Cash      Pre-Tax         Internal
                                      Flow           NPV8          Rate of
             Life of    Pay-back   (US$000's) @   (US$000's) @     Return @
              Mine       Period     US$750 per    US$750 per     US$750 per
             (years)    (years)     ounce Gold    ounce Gold     ounce Gold
    Base
     Case(3)   15.2       3.0        $646,682      $232,894         21.6%
    Case 2      8.9       3.8        $485,697      $211,916         23.1%
    Case 3(3)  11.9       3.3        $815,944      $302,153         20.4%
    


    
                              Pre-        Life-     Cash Operating   Capital
             Total Gold     Production   of-Mine         Cost          Cost
             Production      Capital     Capital        (US$/         (US$/
              (ounces)      (US$000's)  (US$000's)     ounce Au)     ounce Au)
    Base
     Case(3)   3,732,000     $323,142     $417,787       $453          $112
    Case 2     2,595,000     $339,846     $380,496       $404          $147
    Case 3(3)  5,114,000     $494,477     $567,392       $467          $110


    Sensitivity Analysis
    
    The PEA includes an analysis of project sensitivity to changes in gold
price, capital costs and operating costs.  The following table summarizes the
results of the sensitivity analysis for the Base Case.
    


    

    
             NPV8 - Base Case Gold Price of US$750/ounce  (US$ millions)
                       -20%     -10%      Base Case    +10%      +20%
    Gold Price       ($43.7)    $94.6      $232.9     $371.2    $509.5
    Capital Cost     $299.6    $266.3      $232.9     $199.5    $166.1
    Operating Cost   $397.4    $315.1      $232.9     $150.6     $68.4
    



    
           Base Case Sensitivity to Various Gold Prices  (US$ millions)
    Gold Price
     (US$/oz Au)        US$650     US$750     US$850     US$950     US$1050
    NPV8                $48.5      $232.9     $417.3     $601.7      $786.1
    Internal Rate
     of Return           11.3%      21.6%      30.1%      37.7%       44.7%
    

    
    Note:  NPV8 and IRR are calculated on a pre-tax basis.


    Discussion and Planning
    
    As previously announced, work on the pre-feasibility study is underway
including additional high pressure grinding roll testing at JKTech Pty Ltd. in
Queensland, Australia and a 7-10,000 meter drilling program is planned to
potentially expand the estimated gold resource and, if possible, to convert
Inferred Resources(2)  to Measured and Indicated Resources(1). Vista is
currently considering consolidating the pre-feasibility and bankable
feasibility programs in order to accelerate the completion of the bankable
feasibility study on the Mt. Todd gold project.

    For further information of the Mt. Todd gold project please see our
technical report available on SEDAR entitled "MT. TODD GOLD PROJECT, Gold
Resource Update, Northern Territory, Australia" and dated February 27, 2009. 
This technical report was prepared by or under the supervision of Mr. John
Rozelle, an independent qualified person under NI 43-101.
    

    Update on Paredones Amarillos Project
    
    Vista continues to work through the permitting process at the Paredones
Amarillos project, located in Baja California Sur, Mexico.  Vista is awaiting
a permit for a small drilling program as well as the Temporary Occupation
Permit which is a prerequisite for the Change of Land Use Permit.  Mike
Richings, Executive Chairman and CEO commented, "The delay in receipt of these
permits has been frustrating but our Mexican advisors and the Mexican
regulators continue to confirm to us that Vista has the legal right to mine
and develop the Paredones Amarillos deposit.  We have been and will continue
to look for ways to expedite the permitting process so that we can commence
development and construction at Paredones Amarillos.  In the meantime, our
continued success at Mt. Todd enables Vista to effectively allocate resources
and advance both projects as part of our strategy to become a mid-tier gold
producer over the next two to five years."
    

    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. Vista has
undertaken programs to advance the Paredones Amarillos project, located in
Baja California Sur, Mexico, including a definitive feasibility study, the
purchase of long delivery equipment items, 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
project in Australia are encouraging and Vista is undertaking other studies to
advance the project. Vista's other holdings include the Guadalupe de los Reyes
project in Mexico, Yellow Pine project in Idaho, Awak Mas project in
Indonesia, and the Long Valley project in California.

    (1) Cautionary Note to U.S. Investors concerning estimates of Measured
and Indicated Resources: This press release uses 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 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.  The term "contained gold
ounces" used in this press release is not permitted under the rules of the
SEC.  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 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.  The term "contained gold ounces"
used in this press release is not permitted under the rules of the SEC.  U.S.
investors are cautioned not to assume that any part or all of an inferred
resource exists or is economically or legally minable.

    (3) Cautionary Note concerning economic analysis that include Inferred
Resources:  Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. This PEA is preliminary in nature and it
includes Inferred Resources that are considered too speculative geologically
to have the economic considerations applied to them that would enable them to
be categorized as Mineral Reserves, and there is no certainty that the PEA
will be realized.

    (4) Cautionary Note to U.S. Investors concerning estimates of Reserves:
This press release uses the term "Mineral Reserve".  We advise U.S. investors
that while this term is defined in and required by Canadian regulations, such
definitions differ from the definitions in the SEC Industry Guide.  Under SEC
Industry Guide 7 standards, a "final" or "bankable" feasibility study is
required to report reserves, the three-year historical average price is used
in any reserve or cash flow analysis to designate reserves and the primary
environmental analysis or report must be filed with the appropriate
governmental authority.

    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 economic analysis, estimates of mineral
resources, the conversion of inferred resources to measured and indicated
resources, the conversion of mineral resources to mineral reserves, life of
mine estimates, the potential for gold resources in the Batman deposit and
other targets within the Mt. Todd project, the waste-to-ore ratio at Mt. Todd,
the successful completion of a metallurgical testing program at Mt. Todd, the
beginning of a Mt. Todd pre-feasibility study, 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 and Vista's ability to add value in a cost-effective manner the
estimated operating and capital costs and the cash flow analysis and
sensitivity analysis in the Mt. Todd Preliminary Economic Assessment,
anticipated processing and tailings management and other such matters are
forward-looking statements and forward-looking information.  When used in this
press release, the words "optimistic", "potential", "indicate", "expect",
"intend", "hopes," "believe," "may," "will," "if, "anticipate" 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
estimates, estimates of results based on such resource estimates; 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 Project; risks of shortages and fluctuating costs of equipment or
supplies; risks relating to fluctuations in the price of gold; the inherently
hazardous nature of mining-related activities; 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 under the
headings "Uncertainty of Forward-Looking Statements" and "Risk Factors" in
Vista's latest Annual Report on Form 10-K as filed on March 13, 2009, as
amended April 16, 2009, and Quarterly Report on Form 10-Q, as filed May 6,
2009, and other documents filed with the U.S. Securities and Exchange
Commission and Canadian securities commissions.  Although Vista has attempted
to identify important factors that could cause actual results to differ
materially from those described in forward-looking statements and
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended.  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.

    Without limiting the foregoing, this press release uses terms that comply
with reporting standards in Canada and certain estimates are made in
accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian
Securities Administrators that establishes standards for all public
disclosures an issuer makes of scientific and technical information concerning
mineral projects.  All mineral resource estimates contained in this press
release, including the terms "measured mineral resources," "indicated mineral
resources" and "inferred mineral resources", have been prepared in accordance
with NI 43-101, and these standards differ significantly from the requirements
of the SEC.  The resource information contained in this press release is not
comparable to similar information disclosed by U.S. companies.  See the
Cautionary Notes to U.S. Investors above.

    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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