Vista Provides Update on Exploration Results at the Mt. Todd Project in NT, Australia and Announces the Appointment of a New Vice-President of Exploration



    DENVER, Colo., Sept. 3 /CNW/ -- Vista Gold Corp. (Amex:   VGZ; TSX)
("Vista" or the "Company") is pleased to report on the results of five core
holes drilled as part of an 8,000 meter program being undertaken at its Mt.
Todd Project in Northern Territory, Australia. A summary of the gold assay and
preliminary copper assay results of these five holes are shown below:



    
                                Gold                               Gold   Cop-
     Drill  Interval Intercept (grams/ Copper Including Intercept (grams/ per
     Hole   (meters)  (meters)  tonne)  (ppm)  (meters) (meters)  tonne) (ppm)
    VB08027  193-219    26       3.65   1,230
             531-633   102       1.85     504   532-583    51      2.63    512
    VB08028  442-589   147       1.63     685   491-541    50      2.65  1,052
                                                559-589    30      1.77    627
    VB08029  Hole lost at 26m and re-drilled
              as VB08030
    VB08030  151-161    10       2.93     611
             203-213    10       1.54   1,057
             329-478   149       1.37     645   378-398    20      2.00    854
                                                416-446    30      1.73    907
                                                448-458    10      2.00    652
    VB08031  286-293     7       5.59     725
             435-597   162       1.28     649   502-553    51      1.86    805
                                                581-597    16      2.16    738
    
    The results of the four completed holes are encouraging, confirming the
continuity of mineralization at depth and showing the same pattern of higher
gold grades at depth that was evident in the 2007 program results as
previously reported in Vista's May 30, 2007 and September 4, 2007 press
releases. Preliminary copper assays also demonstrate a pattern of higher
grades compared to the previously reported resource estimates as referenced
below.  All four holes had long intercepts of mineralization over 100 meters
including hole VB08027 which averaged 102 meters (332 ft) at 1.85 g/t (0.054
opt) and hole VB08031 which averaged 162 meters (531 ft) at 1.28g/t (0.037
opt). All holes were angle holes drilled to intersect mineralization at close
to right angles; however, due to physical constraints and the complex nature
of the deposit, true thickness of the drilled intervals cannot be assumed from
the measured intercepts.  The program is designed to increase the sampling
density to support the conversion of inferred gold resources to measured and
indicated resources at depth, and to explore for additional resources down
dip. At present, 13 holes have been completed with gold and preliminary copper
assays received for the first five holes completed. The results from the first
hole were reported in Vista's press release dated July 21, 2008.
    The assay analysis has been completed by ALS Chemex in accordance with
industry accepted standards and has been reviewed by and prepared under the
supervision of Tim Tuba, P. Geo., a qualified person under National Instrument
43-101.
    The current drilling program began in April 2008, under the direct
supervision of Tim Tuba, Vista's Exploration Manager in Australia. The core
drilling is being completed by Boart Longyear Australia Pty Ltd., with the
sample preparation being completed by ALS Chemex in Adelaide, South Australia,
followed by assaying for gold by ALS Chemex in Perth, Western Australia.  A
sample quality control/quality assurance program has been implemented and
check assaying is being done by Genalysis Laboratory Services Pty Ltd. in
Perth. Multi-element analyses, including copper, are being done by ALS Chemex,
also in Perth.  Sampling and assaying methods are being conducted in
accordance with the CIM Mineral Exploration Best Practices Guidelines. All
samples taken were one meter in length, except the last interval of the drill
hole.  For further information on the Mt. Todd project, see our technical
report filed on SEDAR on June 4, 2008, entitled the "Mt. Todd Gold Project,
Resource Update, Northern Territory, Australia, dated May 15, 2008."
    The Company is currently conducting technical programs that management
expects will lead to the completion of a preliminary feasibility study early
in 2009. The Company is currently reviewing proposals and hopes to announce
the award of a contract for the completion of a preliminary feasibility study
shortly. For more information on the resource estimates completed on the Mt.
Todd Project, please refer to Vista's January 4, 2007, February 27, 2008 and
April 24, 2008 press releases, or to the completed technical studies, which
have previously been filed on http://www.sedar.com and may also be found on
Vista's website at http://www.vistagold.com.
    Vista Gold is also pleased to announce that Frank K. Fenne, P.G., has
accepted the position of Vice President, Exploration effective August 25,
2008.  Mr. Fenne brings over 25 years of U.S. and international experience in
exploration, project development and mine operations.  Mr. Fenne was most
recently employed by Kinross Gold Corporation as the Technical Services
Manager at the Round Mountain Gold Mine in Nevada.  Mr. Fenne replaces Robert
Perry, who resigned to pursue other professional interests.
    Fred Earnest, President and COO stated, "We are very pleased with these
results as they confirm the down-dip extension, and most importantly, the
increase in grade at depth, which was noted in last season's drilling
results."  He continued, "We welcome Frank Fenne to our team.  We expect that
his unique combination of exploration, project development and operations
experience will prove to be valuable not only in the present and future
exploration programs at the Mt. Todd Project but also in all of Vista's
exploration and development programs, including the Paredones Amarillos
Project in Mexico."
    
    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.
For more information about our projects, including technical studies and
resource estimates, please visit our website at http://www.vistagold.com.
Vista is undertaking programs to advance the Paredones Amarillos Project,
including the preparation of a definitive feasibility study and the purchase
of long delivery equipment items. 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, the Yellow Pine Project in Idaho,
the Awak Mas Project in Indonesia, and the Long Valley Project in California.
    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 applicable 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 plans for evaluation of the Mt. Todd Project including
preliminary assessment results and timing and anticipated results for
drilling, field mapping and sampling programs to be undertaken at the Mt. Todd
Project; resource estimates at the Mt. Todd Project; potential for increasing
estimated resources at the Mt. Todd Project and potential for higher grade
mineralization at the Mt. Todd Project;  anticipated timing and results for
preliminary and definitive feasibility studies to be undertaken at the Mt.
Todd Project; anticipated timing and results for a definitive feasibility
study being undertaken at the Paredones Amarillos Project; anticipated timing
for construction and development activities at the Paredones Amarillos
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; and
other such matters, are forward-looking statements and 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 forward-looking statements and information.  Such
factors include, among others, risks relating uncertainty of preliminary
assessment results and of feasibility study results and estimates on which
such results are based; uncertainties involved in the determination of the
economic viability of a deposit, including estimates of mineral reserves,
metallurgical recoveries, costs and gold prices; risks relating to scheduling
for feasibility studies; risks relating to delays and incurrence of additional
costs in connection with the feasibility study underway at Vista's Paredones
Amarillos Project, including uncertainty relating to timing and receipt for
required governmental permits; 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 significant cost increases; risks of inability to achieve anticipated
production volumes;  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; intense
competition in the mining industry;  uncertainty of being able to raise
capital on favorable terms or at all; and external risks relating to the
economy and credit markets in general; as well as those factors discussed in
Vista's latest Annual Report on Form 10-K, Quarterly Report on Form 10-Q and
other documents filed with the U.S. Securities and Exchange Commission and
Canadian securities regulators.  Although Vista has attempted to identify
important factors that could cause actual results to differ materially from
those described in forward-looking statements and 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 and information will
prove to be accurate as actual results and future events could differ
materially from those anticipated in such statements and information.  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.
    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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