Definitive Feasibility Study For The Mt Todd Gold Project

DENVER, CO - Frederick H. Earnest, President and CEO of Vista Gold Corp., said, “We are approaching the achievement of a very important milestone in increasing shareholder value. The definitive feasibility study (DFS) for the Mt Todd gold project in Northern Territory, Australia, is nearly complete and we expect to announce the results early next year. We believe the DFS results, reflective of more detailed engineering and the higher level of precision in cost estimating required for this study, will generate significant interest in the Project from investors and potential partners. In addition to a new mine plan using a higher gold price, which we expect to result in an increase in reserves and a longer mine life, we are completing trade-off studies that have the potential to lower related capital costs. We continue to execute on our strategy to seek a partner and believe the DFS will provide the catalyst for accelerating the process. Our exploration drilling program is ongoing and expected to continue through the first quarter of 2022. As part of the Company’s normal course of business, we recently filed a Registration Statement on Form S-3 to maintain maximum financial flexibility as we advance toward our goal of a joint venture to develop Mt Todd.”

The DFS is a major milestone which is expected to raise the profile of and expedite our ongoing partnering process, leading to a joint venture or other transaction that will recognize the intrinsic value of Mt Todd for Vista shareholders. Vista has completed extensive technical work at Mt Todd and has the approval of all major permits required to undertake project development. The completion of the DFS is expected to provide a solid foundation and catalyst to move forward expeditiously with prospective partners to establish a mutually beneficial pathway for development of the Project.