Surface Exploration Of Specific Areas At The Mt. Todd Gold Project

DENVER, CO - Vista Gold Corp. reported on the most recent surface exploration program on two specific areas within the exploration licenses (ELs) at the Mt Todd gold project. Both targets returned excellent anomalous gold assays from surface sampling, including up to 4.0 grams of gold per tonne (“g Au/t”) at the Irwins target.

Frederick Earnest, President and CEO, stated, “The ELs at Mt Todd encompass 1,650 km2 and are largely underexplored. As part of our annual exploration program for the ELs, we collected more than 600 rock chips and soil samples from an area of interest covering ~ 1.6 km2 on the Cullen-Australis Structural Corridor. The results demonstrate strong geologic similarities to the area in the mining licenses where we previously delineated four highly prospective exploration targets through our 2021-22 drilling program. We are encouraged by the tenor of these results, which reinforce our belief that the Mt Todd land package has tremendous discovery potential.”

There are a significant number of known mineralization occurrences and indicators within the ELs. The ELs share several similarities to the Project mining licenses (“MLs”). The most important shared characteristics between the Batman-Driffield Structural Corridor (located on the MLs) and the Cullen-Australis Structural Corridor to the north and east on the ELs are similar structural controls, lithologies, alteration patterns, and granitic intrusions. Vista’s recent exploration drilling program highlighted the strong possibility that the four newly identified targets are structurally connected to the Batman deposit to the south and the Quigleys deposit to the north. Given the similarities seen between the two structural corridors and the number of mineralized occurrences on the ELs, the prospects of delineating deposits of similar scale and grade are highly encouraging.

Vista’s 2022 ELs exploration program collected a total of 60 rock chip, 556 soil, and 19 stream sediment samples. We concentrated on two areas within the Cullen Australis Trend. Both areas showed encouraging anomalous metal values through previous widely spaced surface sampling programs. Additionally, these areas exhibit similar lithology, alteration, proximity to young granitic bodies, structure, and magnetic anomalies similar to those found at the Batman deposit.