Vista Gold Corp. Announces Year-End Financial Results

    DENVER, March 15 /CNW/ -- Vista Gold Corp. (Amex:   VGZ; Toronto) announced
today its financial results for the year ended December 31, 2006, as filed on
March 15, 2007, with the U.S. Securities and Exchange Commission in Vista's
Annual Report on Form 10-K.  For the year ended December 31, 2006, Vista
reported a consolidated net loss of US$4.2 million or US$0.16 per share
compared to the 2005 consolidated net loss of US$4.6 million or US$0.24 per
share.  The decrease of US$0.4 million in the net loss for 2006 is primarily
due to increased interest income of US$1.0 million resulting from an increase
in interest earned on Vista's liquid bank account and the Hycroft restricted
cash account, partially offset by increased corporate administration and
investor relations costs of US$0.6 million.
    Vista received net cash from financing activities of US$54.3 million in
2006 compared to US$7.9 million in 2005.  The US$54.3 million in 2006
consisted primarily of net proceeds of US$3.2 million from a February, 2006
equity private placement; net proceeds from exercises of warrants aggregating
US$22.7 million; and net proceeds of US$29.4 million from a public offering of
common shares in November 2006.
    Net cash used in investing activities in 2006 was US$4.2 million compared
to US$8.4 million in 2005.  The decrease of US$4.2 million can be attributed
to a decrease of US$5.6 million for the acquisitions of subsidiaries net of
cash, reflecting the cash expended as partial consideration for the
acquisition of the Mt. Todd gold mine for US$1.3 million in 2006, compared to
expenditures during 2005 of US$1.6 million for the acquisition of the Awak Mas
project and US$5.3 million cash expended as partial consideration for the
acquisition of F.W. Lewis, Inc. properties.  This decrease is offset by an
increase in property expenditures during 2006 of US$1.1 million.  Net cash
used for operations in both 2006 and 2005 was US$3.4 million.  The unused cash
received from financing activities in 2006 is on hand as working capital.
    Vista's financial position included current assets at December 31, 2006,
of US$50.6 million compared to US$3.1 million at December 31, 2005 and total
assets of US$92.7 million at December 31, 2006, compared to US$38.0 million at
December 31, 2005.  Total liabilities at December 31, 2006, were US$5.6
million compared to US$4.6 million at December 31, 2005; these liabilities
included US$4.7 million in 2006 and US$4.1 million in 2005 for accrued
reclamation and closure costs at the Hycroft mine which are offset by US$5.3
million in 2006 and US$5.1 million in 2005 in a restricted cash account which
is included in total assets.  Shareholders' equity was US$87.1 million at
December 31, 2006, compared to US$33.4 million at December 31, 2005. Vista's
working capital as of December 31, 2006, was US$49.8 million which increased
by US$47.2 million from US$2.6 million as of December 31, 2005.
    Of Vista's current working capital, Vista anticipates investing US$25
million in common stock of Allied Nevada Gold Corp. ("Allied Nevada") in
connection with the previously announced arrangement transaction involving
Vista, Allied Nevada and Carl and Janet Pescio (the "Pescios").  Allied Nevada
will use US$15 million of this investment as partial consideration for the
purchase of the Pescios' Nevada mineral assets.  As part of the transaction,
Vista shareholders will exchange each of their Vista common shares and will
receive, subject to applicable withholding taxes, (i) one new Vista common
share and (ii) a pro rata portion of (A) the number of Allied Nevada common
shares received by Vista as part of the arrangement less (B) the number of
Allied Nevada shares retained by Vista to facilitate payment of any taxes
payable in respect of the arrangement.  Holders of Vista options will exchange
their options for options to acquire Allied Nevada shares and options to
acquire newly created Vista shares, and holders of Vista warrants will have
their warrants adjusted in accordance with the terms of the warrants.  In
November 2006, Vista received the securityholder and court approvals required
as conditions for completion of the transaction.  Subject to receipt of the
remaining required approvals, as well as completion of the registration of
Allied Nevada's common shares under the United States Securities Exchange Act
of 1934, the transaction is currently expected to close in the first quarter
or early second quarter of 2007.

    Selected Financial Data

                                                    Years ended December 31
    U.S. $ 000's, except loss per share               2006           2005

    Results of operations
    Net loss                                        $(4,171)       $(4,584)
    Basic and diluted loss per share                 $(0.16)        $(0.24)

    Net cash used in operations                     $(3,431)       $(3,379)
    Net cash used in investing activities            (4,177)        (8,448)
    Net cash provided by financing activities        54,279          7,938

    Financial position
    Current assets                                  $50,643          3,094
    Total assets                                     92,731         37,999
    Current liabilities                                 893            452
    Total liabilities                                 5,604          4,596
    Shareholders' equity                             87,127         33,403

    Working capital                                 $49,750         $2,642

    The annual general meeting of Vista's shareholders has been scheduled for
Monday, May 7, 2007, at 10:00 a.m., Vancouver time, at the offices of Borden
Ladner Gervais LLP, located at Suite 1200, 200 Burrard Street, Vancouver,
British Columbia, Canada.

    Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires
gold projects with defined gold resources.  Additional exploration and
technical studies are undertaken to maximize the value of the projects for
eventual development.  Vista's holdings include the Maverick Springs, Mountain
View, Hasbrouck, Three Hills, Wildcat projects, the F. W. Lewis, Inc.
properties and the Hycroft mine, all in Nevada, the Long Valley project in
California, the Yellow Pine project in Idaho, the Paredones Amarillos and
Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia,
the Awak Mas project in Indonesia and the Mt. Todd project in Australia.

    Forward-Looking Statements
    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, expansion and
growth of Vista's or Allied Nevada's businesses, operations, plans 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 and
Allied Nevada, including anticipated consequences of the contemplated
transaction described herein, 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 or Allied Nevada'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 or Allied Nevada's operations of environmental regulations in the
countries in which they operate; risks due to legal proceedings; uncertainty
of being able to raise capital on favorable terms or at all; and risks that
may affect Vista's ability to complete the contemplated transaction described
herein including risks that Vista may be unable to obtain required third party
approvals; as well as those factors discussed in Vista's latest Annual Report
on Form 10-K 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 Gregory G. Marlier at (720)
981-1185, or visit the Vista Gold Corp. website at

For further information:

For further information: Gregory G. Marlier, of Vista Gold Corp., 
+1-720-981-1185 Web Site:

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