Potential Demonstrated For Increase Of Mt Todd Mineral Reserves

DENVER, CO - Vista Gold Corp. reported on the Mt Todd drilling program indicate the potential to increase gold mineral reserves in the Batman deposit and have successfully delineated the South Cross Lode (SXL) over a 400 meter strike length. These drill results, and those from the 2020-2022 drilling program, will be included in the block model for the updated Mt Todd mineral resources estimate and new feasibility study.

Phase 1 drilling, in conjunction with the 2020-2022 drilling program, provided information to extend the boundaries of the mineralization in the northern section of the Batman deposit. Drilling intercepted gold grades higher than estimated in the current block model and mineralization outside the limits of the current resource envelope. These results provide a basis to increase gold mineral resources in the area of the Batman deposit and convert a portion of the current mineral resources in this area into proven and probable mineral reserves.

Phase 2 drilling defined the mineralized boundaries of the SXL over the strike length drilled and intersected high-grade sub-structures in the lower portion of thirteen holes, as shown in Figure 5. Additionally, the drill hole spacings are acceptable for the definition of measured and indicated mineral resources. Given the location of the SXL, these drilling results are expected to support the expansion of the mineral resource shell, with the potential to increase gold mineral reserves.

Frederick H. Earnest, President and CEO, said, “The results of our 2024 Mt Todd drill program are encouraging. We drilled 34 diamond core holes totaling 6,776 meters and every hole intercepted mineralization, with many holes in Phase 1 encountering higher grades than estimated in the current block model. The results indicate potential to upgrade previously defined mineral resources to mineral reserves and add new mineral resources from an extension to the Batman core zone. We believe we successfully accomplished the objectives of Phase 1 of the drill program.

The Phase 2 drilling results provide us with a much better understanding of the mineralization in the South Cross Lode. We encountered sheeted-vein mineralization consistent with the Batman deposit in the upper portions of the holes and regularly intersected more distinct, wider, and in many instances, higher grade veins deeper in the drill holes. The discovery of higher-grade and wider veins in the South Cross Lode is exciting and something that we believe merits more analysis.

The results from the 2024 and 2020-2022 drilling programs are expected to be included in the mineral resource block model that is currently being completed as part of the recently announced Mt Todd feasibility study. Our analysis of the results of these drilling programs indicates potential to convert mineral resources to mineral reserves at the Mt Todd gold project. The new mineral resource estimate is anticipated to be announced as part of the Mt Todd feasibility study, scheduled for completion mid-2025.”