DENVER, Aug. 1 /CNW/ -- Vista Gold Corp. (Amex: VGZ; TSX) is pleased to
announce the promotion of Mr. Frederick H. Earnest to President and Chief
Operating Officer effective August 1, 2007. Mr. Earnest and Gregory G.
Marlier, Chief Financial Officer, will continue reporting to Mike Richings,
Chief Executive Officer. Mr. Richings, who prior to the promotion of Mr.
Earnest, also held the title of President, will focus his efforts on corporate
planning and strategy. Mr. Earnest joined Vista in September 2006 as Senior
Vice President, Project Development, and has over 20 years previous experience
in the mining industry, including the management of the development and
operation of gold mines. The management change reflects Vista's increasing
emphasis on the development of its most advanced gold projects: Paredones
Amarillos, Mt. Todd and Yellow Pine.
Mike Richings, Vista CEO, commented, "Since joining Vista, Fred has
demonstrated excellent management and executive skills, appropriate to his new
position. The increasing management demands of developing three major projects
necessitate the change and will allow me to focus on potential growth and
value-adding opportunities for the Corporation."
About Vista Gold Corp.
Since 2001, Vista has acquired a number of discovered gold projects with
the expectation that higher gold prices would significantly increase their
value. As gold prices have risen, Vista has completed various preliminary
evaluations that have demonstrated that some of the projects would be
potentially viable operations at today's gold prices. Currently, Vista is
undertaking technical programs to bring the most advanced projects to the
point where decisions can be made to put these projects into production,
either by Vista, or through sale or joint venture to other mining companies.
Vista's holdings include the Paredones Amarillos and Guadalupe de los Reyes
Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine Project in
Idaho, Awak Mas Project in Indonesia, Long Valley Project in California, and
the 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.
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 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. When used in this press release, the words
"estimate", "plan", "anticipate", "expect", "intend", "believe" and similar
expressions are intended to identify forward-looking statements. 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. Such factors
include, among others, 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. Although
Vista has attempted to identify important factors that could cause actual
results to differ materially from those described in forward-looking
statements, 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. Vista assumes no
obligation to publicly update any forward-looking statements, 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