Vista Gold Corp. Announces Updated Capital and Operating Cost Estimates for Its Paredones Amarillos Project, Mexico



    DENVER, Feb. 13 /CNW/ -- Vista Gold Corp. ("Vista" or the "Corporation")
(Amex:   VGZ; TSX: VGZ) is undertaking a definitive feasibility study for its
Paredones Amarillos Project, as previously reported, that will examine
potential development scenarios in the range of 130,000 - 150,000 ounces of
gold production per year from the gold resources at the project. Vista intends
to publish regular updates on technical and economic changes and progress
during the development of the Paredones Amarillos Project. As part of the
feasibility study, the Corporation's consultants have been considering
alternative processing flow sheets. Preliminary studies by Vista proposed the
use of flotation and leaching of the flotation concentrate, while earlier
extensive evaluation and design work had been completed by Echo Bay Mines on
whole-ore leach using carbon-in-pulp gold recovery. The Corporation intends to
focus its development efforts now on the whole-ore leach process, because of
the estimated lower capital and operating costs, potentially higher gold
recovery, better equipment compatibility with the used mill equipment Vista is
purchasing and the fact that Echo Bay Mines had completed essentially all
permitting associated with this process alternative. Vista's managing
technical consultant for the definitive feasibility study, SRK Consulting
(US), Inc. of Lakewood, Colorado, has updated operating and capital cost
estimates based on preliminary estimates prepared by the consultants retained
to complete the definitive feasibility study. The updated estimates
incorporate actual prices for a substantial portion of the mill equipment and
budget prices for mine equipment. The cost estimates are based in part on
information found in the report filed under Vista Gold Corp. on SEDAR:
"Updated Technical Report, Paredones Amarillos Project, Baja California Sur,
Mexico", dated June 20, 2007, prepared under the direction of Mr. Neil Prenn,
an independent qualified person.
    The cost estimates assume an open pit mine and whole-ore leach processing
with estimated metallurgical recovery of 91.5% to produce an average annual
gold production of 117,000 ounces of gold per year over its 12.4-year life.
The preproduction capital and preproduction development costs for the project
using the whole-ore leach process are estimated to be approximately US$169.1
million and the operating costs are estimated to be approximately US$12.53 per
tonne of ore processed, which represents an increase in the amounts previously
disclosed in the Corporation's press release dated June 21, 2007. Work on the
project is still ongoing and as a result, the estimated preproduction and
estimated operating costs may change as further work is conducted.
    Fred Earnest, President and COO, commented, "The updated capital and
operating cost estimates reported today reflect the results of significant
work completed by the consultants retained to complete the definitive
feasibility study for the Paredones Amarillos Project. While that study is not
expected to be completed until the beginning of the third quarter of this
year, we are satisfied that these estimates reflect current costs of
materials, supplies and labor and the work constitutes a comprehensive
analysis of the estimated project costs. The analysis incorporates actual
costs for the mill equipment the Corporation has purchased and budgetary costs
for the mining fleet. With these cost estimates completed, considerable work
is in progress to optimize the mine plans, production rates and to achieve
improvements in other areas."
    
    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 is undertaking programs to advance the Paredones Amarillos Project,
including a definitive feasibility study and the purchase of long delivery
equipment items, so that construction can begin during the second half of
2008. 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
mid-2009. 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 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 contemplated development scenarios for the Paredones Amarillos Project;
progress, scheduling and results of the ongoing definitive feasibility study
at the Paredones Amarillos Project; operating cost estimates; gold recovery
estimates; compatibility of purchased equipment to be used at the Paredones
Amarillos Project with anticipated processing methods for the Project; status
of permits for the Project, production estimates, mine life; cost estimates
including equipment costs and estimates of preproduction costs, operating
costs and cash costs; potential advantages of a whole-ore leach processing
method for the Project; potential optimization of mine plans, production rates
and other improvements; anticipated timing for construction and development
activities at the Paredones Amarillos Project; plans for evaluation of the Mt.
Todd Project including preliminary assessment results and timing and results
for a definitive feasibility study to be undertaken at the Mt. Todd 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 including plans, timing
and targeted initial production levels; and other such matters are
forward-looking statements and forward-looking information.  When used in this
press release, the words "estimate", "plan", "anticipate", "expect", "intend",
"believe" 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 preliminary
assessment results and of feasibility study results and estimates on which
such results are based; risks relating to scheduling for feasibility studies;
risks relating to cost increases for capital and operating costs including
cost of power; risks relating to delays in commencement and completion of
construction at the Paredones Amarillos Project and the Mt. Todd 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; 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 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.  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. 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.
    The forward-looking statements in this press release are based, in part,
upon certain assumptions made by Vista and its consultants including, but not
limited to no material variation in the forecasted production rates; no
material delay in the current timing for completion of the definitive
feasibility study; no material delays in the securing of environmental
permits; adequacy and availability of labor, water, and power; no material
delays in the acquisition of surface rights; no material delays in the start
and completion of construction; and no material changes in prices of labor,
materials and supplies other than normal inflation.
    For further information, please contact Connie Martinez at (720)
981-1185, or visit the Vista Gold Corp. website at http://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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