Vista Gold Corp. Announces Updated Mineral Resources for the Guadalupe de los Reyes Gold Project



    


    
    DENVER, Sept. 3 /CNW/ -- Vista Gold Corp. ("Vista") (TSX & NYSE Amex:  
VGZ) announced today the updated mineral resources for the Guadalupe de los
Reyes gold project in Sinaloa, Mexico.

    In January 2008, Vista consolidated the Guadalupe de los Reyes District
by acquiring the interests of Grandcru Resources Corporation in the district.
(Please refer to our December 19, 2007, and January 24, 2008, press releases
for details of the transaction.)

    In July 2009, Vista retained Pincock, Allen & Holt ("PAH") of Lakewood,
Colorado, to complete a mineral resource estimation for the district.  The
mineral resource estimate found in the following table has been adjusted to
reflect material removed from old underground workings.
    



    

    
           Guadalupe de los Reyes Project Mineral Resource Estimates
                             (0.50 g/t Cutoff)
    ------------------------------------------------------------------------
                                                                   Contained
                    Metric  Gold Grade   Contained   Silver Grade   Silver
                    Tonnes     (g/t)    Gold Ounces     (g/t)       Ounces
    ------------------------------------------------------------------------
    Indicated(1)  10,048,000   1.50       484,000       25.74      8,313,900
    ------------------------------------------------------------------------
    Inferred(2)    4,888,000   2.02       316,800       59.98      9,425,500
    ------------------------------------------------------------------------

    1. Cautionary Note to U.S. Investors concerning estimates of Indicated
       Resources: This table uses the term "measured resources" 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 ("SEC") does not recognize it. The SEC normally only permits
       issuers to report mineralization that does not constitute "reserves" as
       in-place tonnage and grade without reference to unit measures.  The
term
       "contained gold ounces" used in this table 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 table uses the term "inferred resources". We advise
U.S.
       investors that while this term is recognized and required by Canadian
       regulations, the SEC 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. The SEC normally only
       permits issuers to report mineralization that does not constitute
       "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.


    
    The updated gold resource estimate was completed on August 12, 2009, by
PAH, pursuant to Canadian National Instrument 43-101 ("NI 43-101").  This
updated gold resource estimate was completed by or under the supervision of
Mr. Leonel Lopez, C.P.G., an independent Qualified Person, (as defined in NI
43-101), utilizing standard industry software and resource estimation
methodology.  Mr. Lopez has reviewed and verified the technical and scientific
information contained in this press release.  For more information on the
Guadalupe de los Reyes project and the updated mineral resource estimate,
refer to the report entitled "Technical Report for the Guadalupe de los Reyes
Gold-Silver Project, Sinaloa, Mexico" dated August 12, 2009, which has been
filed on SEDAR simultaneously with this press release.

    Since consolidating its position in the district, Vista has completed a
data compilation program which has led Vista to its belief that the district's
mineral potential has not been fully assessed.  Frank Fenne, Vista's Vice
President - Exploration commented, "Low-sulfidation epithermal systems like
the one found at Guadalupe de los Reyes can form world-class deposits.  The
vein systems at Guadalupe de los Reyes aggregate over 8.5 km of strike length
and historic workings on a small part of the system indicate over 400 meters
of vertical continuity of mineralization. Previous exploration in the
Guadalupe de los Reyes District has focused on shallow, open-pitable targets. 
The underground potential has never been explored by modern methods and we
believe there is excellent exploration potential for high-grade underground
deposits."
    

    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, the Yellow Pine gold project in Idaho,
the 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 estimates of mineral resources for the
Guadalupe de los Reyes gold project, exploration potential for open-pit and
underground gold resources for the Guadalupe de los Reyes gold project , the
continuity  and strike length of ore for the Guadalupe de los Reyes 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,, uncertainty of future gold prices, future
U.S.-to-Australian dollar exchange rates, , 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 and assumptions and methodology  on
which such results are based; risks relating to completing metallurgical
testing and scheduling for pre-feasibility studies;  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,  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 securities 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.

    All mineral reserves and resources have been estimated in accordance with
the definition standards on mineral resources and mineral reserves of the
Canadian Institute of Mining, Metallurgy and Petroleum referred to in National
Instrument 43-101, commonly referred to as NI 43-101. U.S. reporting
requirements for disclosure of mineral properties are governed by the United
States Securities and Exchange Commission (SEC) Industry Guide 7. Canadian and
Guide 7 standards are substantially different and the information contained in
this press release and the updated resource estimate are not comparable to
similar information disclosed by U.S. companies. This press release and the
updated resource estimate referenced in this press release use the terms
"measured," "indicated," and "inferred" resources. We advise investors that
while those terms are recognized and required by Canadian regulations, the SEC
does not recognize them. Inferred mineral resources are considered too
speculative geologically to have economic considerations applied to them that
enable them to be categorized as mineral reserves. 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 pre-feasibility studies, except in
rare cases. U.S. investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally minable.  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


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890