Vista Gold Corp. Announces First Quarter Financial Results and Corporate Update

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DENVER — Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Firm”) at the moment introduced its unaudited monetary outcomes for the quarter ended March 31, 2022, that are highlighted by reported money totaling $12.8 million. All greenback quantities on this press launch are in U.S. {dollars}.

Frederick H. Earnest, President and Chief Government Officer of Vista, commented, “As introduced in February, we achieved a serious milestone with the completion of the Feasibility Research (“2022 FS”) for our 100%-owned Mt Todd gold undertaking (“Mt Todd” or the “Mission”), which elevated gold reserves by 19% to six.98 million ounces with estimated common annual manufacturing of 479,000 ounces of gold through the first seven years of business operations and prolonged the mine life to 16 years. The completion of the 2022 FS represents a major step in de-risking Mt Todd and readying the Mission for improvement. We subsequently introduced the appointment of CIBC Capital Markets (“CIBC”) as Vista’s strategic advisor to guide a proper course of to help in evaluating a broad vary of alternate options to unlock the worth of Mt Todd and arranging an accretive transaction. Throughout the quarter we additionally efficiently accomplished the exploration drilling program at Mt Todd, continued to monetize non-core property, and maintained the power of our stability sheet with quarter finish money of $12.8 million.

“We consider the 2022 FS demonstrates the sturdy economics of the Mission, which mixed with the approval of all main permits for improvement distinguish Mt Todd as a singular, near-term improvement alternative in a steady and mining pleasant jurisdiction. I’m excited with the progress by CIBC so far and dedicated to attaining an consequence that gives applicable alternative for worth creation by recognizing a better portion of the intrinsic worth of Mt Todd and minimizing the potential for future dilution.”

First Quarter Highlights and Latest Developments

Accomplished the Mt Todd Feasibility Research;
Appointed CIBC as Strategic Advisor;
Obtained the ultimate $2.5 million Awak Mas royalty cost;
Accomplished the exploration drilling program at Mt Todd; and
Ended Q1 2022 with money and money equivalents of $12.8 million

Feasibility Research

Vista accomplished the 2022 FS for Mt Todd and introduced the outcomes on February 9, 2022 and filed the SK-1300 Technical Report Abstract and NI 43-101 Technical Report on February 24, 2022.

A number of highlights from the 2022 FS embody:

After-tax NPV_5% of $999.5 million and IRR of 20.6% at a $1,600 gold worth;
After-tax NPV_5% of $1.7 billion and IRR of 29.4% at a $1,900 gold worth;
After-tax money circulate at a $1,900 gold worth of $2.3 billion for years 1 – 7 of business operations; and
Common annual manufacturing of 479,000 ounces of gold throughout years 1 – 7 of business operations.

Be aware: All greenback quantities said herein are in U.S. foreign money and are expressed as $ until specified in any other case. The overseas alternate (“Fx”) fee used is 0.71 U.S. greenback per Australian greenback.

The 2022 FS addressed suggestions from the 2019 pre-feasibility research; displays minor updates of the Mission design to be according to the Mining Administration Plan; and superior the degrees of engineering and detailed costing in all areas of the Mission. It evaluated a number of trade-off alternatives (e.g., contract energy era, contract mining and autonomous truck haulage). With new mine plans at costs extra reflective of present gold costs, the 2022 FS resulted in a bigger reserve and longer mine life.

Appointment of CIBC Capital Markets as Strategic Advisor

In March, Vista appointed CIBC as its strategic advisor to help in evaluating a broad vary of alternate options to unlock the worth of the Mt Todd gold undertaking. CIBC’s mandate consists of main a proper course of to finish an accretive transaction with the first deal with maximizing shareholder worth. The formal course of has commenced. Coinciding with the work of CIBC, in February 2022, Australia lifted restrictions on worldwide journey to and from the nation for absolutely vaccinated people. Vista believes this motion could have a optimistic influence for the Firm by permitting better in-person interplay between senior administration and native stakeholders, and enhancing the formal course of to unlock the worth of Mt Todd.

Exploration Drilling Program

Vista accomplished its exploration drilling at Mt Todd throughout March 2022 and is awaiting ultimate assay outcomes. The drilling program centered on figuring out connecting constructions and mineralization between beforehand interpreted discreet deposits and the potential for environment friendly useful resource progress with future drilling alongside strike from the Batman deposit roughly 1.9 kilometers north to the Golf-Tollis/Penguin targets. This program efficiently achieved our purpose of demonstrating the regional potential alongside a 5.4-kilometer portion of the 24-kilometer Batman-Driffield Development and to stipulate areas the place future drilling may be undertaken to effectively outline extra gold sources.

Vista accomplished 26 deliberate drill holes for roughly 8,898 meters. The drill holes persistently intersected mineralization predicted by our geologic mannequin and reveal each horizontal and vertical continuity of the focused constructions.

Abstract of Q1 2022 Monetary Outcomes

At March 31, 2022, money, money equivalents and short-term treasury investments totaled $12.8 million. We benefited through the quarter from receipt of $2.5 million from PT Masmindo Dwi Space to train its choice to cancel the remaining 50% of the Awak Mas web smelter return royalty and continued management over our base expenditures.

Vista reported a web lack of $0.3 million or $0.00 per primary share for the three months ended March 31, 2022, in comparison with a lack of $3.1 million or $0.03 per primary share for the three month interval ended March 31, 2021. The loss for the present quarter was in step with administration’s expectations.

Administration Convention Name

Administration’s quarterly convention name to evaluate monetary outcomes for the quarter ended March 31, 2022 and to debate company and undertaking actions is scheduled for Tuesday, Might 3, 2022 at 2:00 p.m. MDT (4:00 p.m. EDT).

Participant Toll Free: (844) 898-8648
Participant Worldwide: (647) 689-4225
Convention ID: 1976517

This name will even be archived and out there at www.vistagold.com after Might 3, 2022. Audio replay shall be out there for 21 days by calling toll-free in North America (855) 859-2056 or (404) 537-3406.

If you’re unable to entry the audio or phone-in on the day of the convention name, please electronic mail your inquiries to ir@vistagold.com.

For additional data, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

Mt Todd Technical Report Filings

The Firm filed a Technical Report Abstract (“TRS” or “Technical Report Abstract”) ready in accordance with subpart 1300 of Regulation S-Okay below the USA Securities Alternate Act of 1934, as amended (“S-Okay 1300”) as an exhibit to Vista’s Annual Report on Type 10-Okay, filed on February 24, 2022. The TRS is entitled “S-Okay 1300 Technical Report Abstract – Mt Todd Gold Mission – 50,000 tpd Feasibility Research – Northern Territory, Australia” with an efficient date of December 31, 2021 and a difficulty date of February 9, 2022. This TRS is on the market on EDGAR at www.sec.gov/edgar.shtml. A companion Technical Report for Canadian functions, pursuant to Nationwide Instrument 43-101 (“NI 43-101”), was filed on SEDAR on February 24, 2022 and is entitled “NI 43-101 Technical Report – Mt Todd Gold Mission – 50,000 tpd Feasibility Research – Northern Territory, Australia” with an efficient date of December 31, 2021 and a difficulty date of February 9, 2022 (the “NI 43-101 Technical Report”). The NI 43-101 Technical Report is on the market on SEDAR at www.sedar.com. Each studies may additionally be discovered on Vista’s web site at www.vistagold.com.

The technical information and financial conclusions of those studies are equivalent, with minor variations between the studies ensuing solely from the respective disclosure necessities of S-Okay 1300 and NI 43-101.

John Rozelle, Vista’s Sr. Vice President, a Certified Individual as outlined by 43-101, has accepted this press launch.

About Vista Gold Corp.

Vista is a gold undertaking developer. The Firm’s flagship asset is the Mt Todd gold undertaking situated within the Tier 1, mining pleasant jurisdiction of Northern Territory, Australia. Located roughly 250 km southeast of Darwin, Mt Todd is the most important undeveloped gold undertaking in Australia and, as presently designed, Mt Todd is predicted to be one of many high 5 gold producers in Australia. All main environmental and working permits have now been accepted.

For additional data, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.

Ahead Trying Statements

This press launch accommodates forward-looking statements throughout the that means of the U.S. Securities Act of 1933, as amended, and U.S. Securities Alternate Act of 1934, as amended, and forward-looking data throughout the that means of Canadian securities legal guidelines. All statements, apart from statements of historic details, included on this press launch that handle actions, occasions or developments that we anticipate or anticipate will or might happen sooner or later, together with things like the anticipated date for our administration’s name concerning our monetary outcomes; our perception that the completion of the FS represents a major step in de-risking Mt Todd and readying the Mission for improvement; our perception that the 2022 FS demonstrates the sturdy economics of the Mission, which mixed with the approval of all main permits for improvement distinguish Mt Todd is a singular, near-term improvement alternative in a steady and mining pleasant jurisdiction; our perception that we stay dedicated to attaining an consequence that gives applicable alternative for worth creation by recognizing a better portion of the intrinsic worth of Mt Todd and minimizes the potential for future dilution; our perception that Australia’s lifted journey restrictions could have a optimistic influence for the Firm by permitting better in-person interplay between senior administration and native stakeholders, and enhancing the formal course of to unlock the worth of Mt Todd; our perception that our purpose of demonstrating the regional potential alongside a 5.4-kilometer portion of the 24-kilometer Batman-Driffield Development and to stipulate areas the place future drilling may be undertaken to effectively outline extra gold sources has been efficiently achieved; our perception that we now have maintained the power of our stability sheet; and our perception that Mt Todd is the most important undeveloped gold undertaking in Australia and, as presently designed, Mt Todd is predicted to be one of many high 5 gold producers in Australia are forward-looking statements and forward-looking data. The fabric elements and assumptions used to develop the forward-looking statements and forward-looking data contained on this press launch embody the next: our forecasts and anticipated money flows; our projected capital and working prices; our expectations concerning mining and metallurgical recoveries; mine life and manufacturing charges; that legal guidelines or laws impacting mine improvement or mining actions will stay constant; our accepted enterprise plans, our mineral useful resource and reserve estimates and outcomes of preliminary financial assessments; preliminary feasibility research and feasibility research on our tasks, if any; our expertise with regulators; our expertise and information of the Australian mining business and our expectations of financial situations and the value of gold. When used on this press launch, the phrases “optimistic,” “potential,” “point out,” “anticipate,” “intend,” “hopes,” “consider,” “might,” “will,” “if,” “anticipate” and comparable expressions are supposed to determine forward-looking statements and forward-looking data. These statements contain identified and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such statements. Such elements embody, amongst others, uncertainty of useful resource and reserve estimates, uncertainty as to the Firm’s future working prices and skill to lift capital; dangers regarding value will increase for capital and working prices; dangers of shortages and fluctuating prices of kit or provides; dangers regarding fluctuations within the worth of gold; the inherently hazardous nature of mining-related actions; potential results on our operations of environmental laws within the nations wherein it operates; dangers as a consequence of authorized proceedings; dangers regarding political and financial instability in sure nations wherein it operates; uncertainty as to the outcomes of bulk metallurgical check work; uncertainty as to completion of important milestones for Mt Todd; and uncertainty as to the influence of the continued world well being disaster brought on by the COVID-19 pandemic; in addition to these elements mentioned below the headings “Be aware Concerning Ahead-Trying Statements” and “Threat Components” within the Firm’s newest Annual Report on Type 10-Okay as filed in February 2022 and different paperwork filed with the U.S. Securities and Alternate Fee and Canadian securities regulatory authorities. Though we now have tried to determine essential elements that would trigger precise outcomes to vary materially from these described in forward-looking statements and forward-looking data, there could also be different elements that trigger outcomes to not be as anticipated, estimated or supposed. Besides as required by legislation, we assume no obligation to publicly replace any forward-looking statements or forward-looking data; whether or not on account of new data, future occasions or in any other case.