Phase Two Continues To Intercept High Grade Gold Mineralized Intervals In South Cross Lode

DENVER, CO - Vista Gold Corp. reported on Phase 2 of its 2024 drilling program at the Company’s Mt Todd gold project located in Northern Territory, Australia. Phase 2 drilling continues in the South Cross Lode zone (SXL), a narrower mineralized structure with high-grade intercepts that is adjacent to the Batman deposit and presently extends up to 400 meters northeast.

VB24-025 – Returned multiple mineralized intervals, including 8.0 meters at 1.20 grams of gold per tonne (“g Au/t) from 22.5 meters downhole; 20.8 meters at 1.96 g Au/t from 142.5 meters downhole, including 1.0 meter at 9.19 g Au/t from 155.0 meters downhole.

VB24-027 – Returned multiple mineralized intervals near surface; 15.0 meters at 0.77 g Au/t from 37.0 meters downhole; 2.3 meters at 2.09 g Au/t from 59.7 meters downhole; 23.0 meters at 0.93 g Au/t from 68.0 meters downhole.

VB24-028 – Returned multiple mineralized intervals near surface 12.0 meters at 0.96 g Au/t from 25.0 meters downhole; 4.0 meters at 2.49 g Au/t from 71.2 meters downhole, including 1.2 meters at 6.82 g Au/t from 74.0 meters downhole.

Phase 2 drilling is focused on the shallow portion of the SXL. The six holes reported in this release have intercepts with gold grades up to 6.82 g Au/t near surface. Results to date indicate potential for expansion in the northeast portion of the current resource shell, including an area previously classified as waste. Additionally, drilling continued to intersect mineralization at depth with intercepts ranging from 3.06 to 9.19 g Au/t and confirm the presence of several high-grade sub-structures within the SXL.

Frederick H. Earnest, President and CEO, said, “Results from the ongoing drilling program continue to indicate that the SXL is a narrower mineralized structure with well-defined packages of high-grade quartz-sulfide veins. Today’s results continue to demonstrate encouraging mineralized intervals near surface and at depth. We are currently working to better understand the geometry of the mineralization in the SXL as we assess a possible extension of the resource shell. Phase 2 of the drilling program is expected to be completed by the end of this year.

“At the conclusion of the 2024 drilling program, we plan to update the Mt Todd mineral resource estimate and anticipate moving forward with a feasibility study targeting daily throughput in the range of 12,000 – 17,000 tonnes per day (4-6 million tonnes per annum), 150,000 to 200,000 ounces of annual gold production with an initial capex of less than $400 million, and a reserve grade of approximately 1 gram of gold per tonne. A decision to commence the feasibility study is expected by year end.”