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Vista Gold Corp. (VGZ)

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Previous Close0.9479
Open0.9418
Bid0.9700 x 800
Ask0.9970 x 3000
Day's Range0.9479 - 1.0100
52 Week Range0.3600 - 1.4500
Volume570,473
Avg. Volume696,464
Market Cap102.344M
Beta (5Y Monthly)N/A
PE Ratio (TTM)247.50
EPS (TTM)0.0040
Earnings DateMar 01, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.50
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  • Vista Gold Corp. Announces 2020 Financial Results
    GlobeNewswire

    Vista Gold Corp. Announces 2020 Financial Results

    DENVER, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its audited financial results for the year ended December 31, 2020, which are highlighted by reported net income of $0.4 million for the year and cash totaling $8.2 million at year-end. Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “During 2020, we achieved strong financial performance as we executed and delivered on our initiatives to strengthen our balance sheet, identified opportunities to advance and bring greater value to our Mt Todd gold project (“Mt Todd” or the “Project”), maintained our strong social license, and commenced exploration opportunities targeting resource growth adjacent to the Batman deposit. CEO Video “In 2020, we funded working capital through successful monetization of non-core assets, ended the year with $8.2 million of cash, and positioned the Company to generate additional cash of up to US$4.6 million during 2021, of which $1.1 million has already been received. We initiated a drilling program to test the continuity of mineralization extending north from the Batman deposit, which included holes across the mineralized structure as far as 500 meters north of the last modelled mineralization. We continued to engage with the NT government to support its review of our Mining Management Plan (“MMP”), further dewatered the Batman pit, and strengthened our relationship with the Jawoyn Association through an updated and modernized agreement. “Looking ahead, we are excited about ongoing programs that present significant opportunities to realize shareholder value more in line with the value of Mt Todd. We continue to engage with potential partners and identify strategic opportunities to advance the development of Mt Todd in a way that preserves maximum Project ownership for our shareholders, while minimizing future dilution. Based on early success, we are adding a second drill to extend the ongoing drilling program.” The Company’s upcoming catalysts include: Final approval of the Mt Todd MMP, which management believes is forthcoming in the near future;Drill results which are expected over the coming weeks and continuing well into the second quarter; andCompletion of dewatering the Batman pit later this year. Summary of Financial Results At December 31, 2020, cash plus short-term investments (comprised of government securities) totaled $8.2 million and working capital was $8.3 million. Our cash position was further strengthened by $1.1 million received from Prime Mining Corp. (“Prime Mining”) in January 2021 and we expect to receive up to $3.5 million from upcoming cash payments of $1.0 million from Prime Mining and an option payment of $2.5 million for the cancelation of the Company’s royalty on the Awak Mas project. Working capital at December 31, 2019 was $7.8 million, including cash and short-term investments (comprised of government securities) of $4.7 million. The Company has no debt. For the fiscal year ended December 31, 2020, Vista reported net income of $0.4 million, or $0.00 per common share on both a basic and diluted basis, compared to a consolidated net loss of $9.4 million, or $0.09 per common share on both a basic and diluted basis for the fiscal year ended December 31, 2019. Net income for the year ended December 31, 2020 is comprised of $6.1 million in gains on the sale of the Los Reyes project and cancellation of the Awak Mas royalty, $2.4 million of gains related to the sale of our Midas Gold Corp shares, and other income of $0.3 million, offset by $8.4 million of operating expenses. The loss for the year ended December 31, 2019 is comprised of $8.1 million of operating expenses and a $1.6 million mark-to-market loss on our investment in Midas Gold Corp., offset by other income of $0.3 million. The Company’s consolidated audited financial statements and management’s discussion and analysis together with other important disclosures can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities. Management Conference Call Management’s quarterly conference call to review financial results for the fiscal year ended December 31, 2020 and to discuss corporate and project activities is scheduled for Monday, March 1, 2021 at 10:00 am MST (12:00 pm EST). Participant Toll Free: 888-378-4413 Participant International: 647-792-1280 Conference ID: 6120882 This call will also be archived and available at www.vistagold.com after March 1, 2021. Audio replay will be available for 21 days by calling toll-free in North America 888-203-1112 or 647-436-0148 with passcode 6120882. If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to ir@vistagold.com. All dollar amounts in this press release are in U.S. dollars. For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185. About Vista Gold Corp. The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis. For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report. Forward Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as the expected date for our management’s call regarding our financial results; our expectation to receive upcoming cash payments from Prime Mining and from the cancelation of the Company’s royalties on the Awak Mas project; our belief that final approval of our MMP is forthcoming; our plan to add a second drill to extend our exploration program, with results expected over the coming weeks and continuing well into the second quarter; our expectation to test the continuity of mineralization extending north from the Batman deposit; our plan to complete the dewatering of the Batman pit later this year; our plan to continue to engage with potential partners and to identify strategic opportunities to advance the development of Mt Todd in a way that preserves maximum Project ownership for our shareholders, while minimizing future dilution; and our belief that Mt Todd would potentially be Australia’s 6th largest gold project on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; our approved business plans, our mineral resource and reserve estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on our projects, if any; our experience with regulators; our experience and knowledge of the Australian mining industry and our expectations of economic conditions and the price of gold. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate, ” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; uncertainty as to completion of critical milestones for Mt Todd; and uncertainty as to the impact of the ongoing global health crisis caused by the COVID-19 pandemic; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed in February 2021 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

  • Vista Gold Drilling Confirms North Extension of the Batman Core Zone  at the Mt Todd Gold Project
    GlobeNewswire

    Vista Gold Drilling Confirms North Extension of the Batman Core Zone at the Mt Todd Gold Project

    Figure 1 Batman North Extension Figure 2 Section A-A’ (VB20-002, 003, and 004) DENVER, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to provide results from the ongoing drilling program at the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia. North Extension Drilling Highlights Confirmed the extension of the Batman Core Zone to the north;Showed the North Core Zone extension to be thicker than previously expected with higher grades in the center portion; andDemonstrated the opportunity to develop classified resources in an area within the planned ultimate pit that is currently modelled as waste material. Frederick Earnest, President and CEO of Vista, stated, “We continue to be encouraged by the results of our ongoing drilling program, which demonstrate that the Batman Core Zone extends to the north, as expected, and further validate our belief that mineralization with vertical and lateral continuity exists within and immediately adjacent to the planned Batman pit. Drilling continues on the remaining holes in our 2,400-meter program, with completion and results expected this quarter. We are presently evaluating targets for a follow-up drill program with the objective to confirm continuity and connectivity of the mineralized structures extending northeast to the Quigleys deposit.” See Vista Gold CEO Video. In the fourth quarter 2020, the Company commenced an eight-hole proof of concept drilling program to test targets known as the Batman Hanging Wall Lode and the Batman North Extension. The goal of the program is to confirm the existence of mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. Results from Hole VB20-001 were announced in December 2020 (see News Release) and confirmed the existence of a mineralized zone that is believed to be a connection between the main Batman structure and the Golf-Tollis structure. Holes VB20-002, -003, and -004 targeted the Batman North Extension to the north of the main Batman structure. Assay results for holes VB20-002, VB20-003 and VB20-004 are summarized below. Hole No.Grid Co-ordinatesSurvey DataIntersectionsMGA94 Grid EastingMGA94 Grid NorthingRL (m)Azimuth (°)Dip (°)Depth (m) From (m)To (m)Interval (m) True Thickness (m)Grade (g/t Au)Sample TypeVB20-002187287.08435936.0143.0270.0-58.0280.0 8.0164.0156.0113.00.55HQ ½ Core including8.019.011.08.00.88HQ ½ Core including101.0130.029.020.01.00HQ ½ Core and203.0220.017.012.00.72HQ ½ Core including219.0220.01.00.73.72HQ ½ Core VB20-003187272.08435933.0140.0266.0-54.0299.8 15.0160.0145.092.00.44HQ ½ Core including81.0160.079.050.00.51HQ ½ Core including155.0160.05.03.01.47HQ ½ Core VB20-004187251.08435933.0144.0270.0-48.0146.0 15.021.06.04.50.57HQ ½ Core and33.040.07.05.00.60HQ ½ Core and52.059.07.05.00.47HQ ½ Core and84.088.04.03.01.26HQ ½ Core  Notes: (i)Results are based on ore grade 50g fire assay for Au and four acid ICP-OES for Cu. (ii)Intersections are from diamond core drilling with half-core samples. (iii)Core sample intervals were constrained by geology, alteration or structural boundaries, intervals varied between a minimum of 0.2 metres to a maximum of 1.2 metres. (iv)Mean grades have been calculated on a 0.4g/t Au lower cut-off grade with no upper cut-off grade applied. (v)All intersections are downhole intervals. (vi)All downhole deviations have been verified by downhole camera and or downhole gyro. (vii)Collar coordinates surveyed by GPS. (viii)The Company maintains a QA/QC program described below. (ix)The assay laboratories responsible for the assays were NAL Pty Ltd, Pine Creek, NT and Genalysis Laboratory Services Pty Ltd, Perth, WA. Figure 1 – Batman North Extensionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/2a21e5b4-daa4-47b7-befa-742a639fb13a The plan view above shows the interpreted location of the Batman North Extension. VB20-002, -003, and -004 intersected the Batman North Extension at the predicted location and encountered a thicker mineralized zone than anticipated. Figure 2 – Section A-A’ (VB20-002, 003, and 004)https://www.globenewswire.com/NewsRoom/AttachmentNg/189f4653-45ed-4cb4-854c-cd7f162ba43b In the cross section below the location and assay results of VB20-002, -003, and -004 are shown relative to the core zones of the Batman deposit. The lighter shading denotes the higher-grade center portion within the extension of the Core Zone. John Rozelle, Vista’s Sr. Vice President, a Qualified Person (QP) as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has verified the data underlying the information contained in and has approved this press release. Data Verification and QA/QC The sampling method and approach for the drillholes are as follows: The drill core, upon removal from the core barrel, is placed into plastic core boxes;The poly core boxes are transported to the sample preparation building;The core is marked, geologically logged, geotechnically logged, photographed, and sawn into halves. One-half is placed into sample bags as one-meter sample lengths, and the other half retained for future reference. The only exception to this is when a portion of the remaining core has been flagged for use in the ongoing metallurgical testwork;The bagged samples have sample tags placed both inside and on the outside of the sample bags. The individual samples are grouped into “lots” for submission to Northern Analytical Laboratories for preparation and analytical testing; andAll of this work was done under the supervision of a Vista geologist. Processing of the core included photographing, geotechnical and geologic logging, and marking the core for sampling. The nominal sample interval was one meter. When this process was completed, the core was moved into the core cutting/storage area where it was laid out for sampling. The core was laid out using the following procedures: One meter depth intervals were marked out on the core by a member of the geologic staff;Core orientation (bottom of core) was marked with a solid line when at least three orientation marks aligned and used for structural measurements. When orientation marks were insufficient an estimated orientation was indicated by a dashed line;Geologic logging was then done by a member of the geologic staff. Assay intervals were selected at that time and a cut line marked on the core. The standard sample interval was one meter, with a minimum of 0.2 m and a maximum of 1.2 m;Blind sample numbers were then assigned based on pre-labeled sample bags. Sample intervals were then indicated in the core tray at the appropriate locations; andEach core tray was photographed and restacked on pallets pending sample cutting and stored on site indefinitely. The core was then cut using diamond saws with each interval placed in sample bags. At this time, the standards and blanks were also placed in plastic bags for inclusion in the shipment. A reference standard or a blank was inserted at a minimum ratio of 1 in 10 and at suspected high grade intervals additional blanks sample were added. Standard reference material was sourced from Ore Research & Exploration Pty Ltd and provided in 60 g sealed packets. When a sequence of five samples was completed, they were placed in a shipping bag and closed with a zip tie. All of these samples were kept in the secure area until crated for shipping. Samples were placed in crates for shipping with 100 samples per crate (20 shipping bags). The crates were stacked outside the core shed until picked up for transport. The QP is satisfied that sample security measures meet industry standards. Statistical analysis of the various drilling populations and quality assurance/quality control (QA/QC) samples has not either identified or highlighted any reasons to not accept the data as representative of the tenor and grade of the mineralization estimated at the Batman deposit. NAL Pty. Ltd and Genalysis Laboratory Services Pty Ltd. are both independent of the Company. About Vista Gold Corp. The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis. For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report. Forward Looking Statement This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as our belief of the existence of a mineralized zone that is a connection between the main Batman structure and the Golf-Tollis structure; our belief that we have identified the extension of the Batman core zone to the north and the existence of mineralization with vertical and lateral continuity exists within and immediately adjacent to the planned Batman pit; our belief that there may be opportunity to develop classified resources in an area within the planned ultimate pit that is currently modelled as waste material; that, our belief that additional drilling could confirm continuity and connectivity of the mineralized structures extending northeast to the Quigleys deposit; and our belief that Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate,” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

  • Vista Gold Highlights 2020 Achievements and Provides 2021 Outlook
    GlobeNewswire

    Vista Gold Highlights 2020 Achievements and Provides 2021 Outlook

    DENVER, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today reviewed its key 2020 accomplishments and outlined 2021 priorities for the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory (“NT”), Australia. Fred Earnest, President and CEO of Vista Gold, stated, “We are pleased to have achieved many of our 2020 corporate objectives in spite of the challenges presented by the COVID-19 pandemic.Financially, we successfully monetized non-core assets to fund working capital, strengthen our balance sheet and cash position, and set the path to generate additional cash of up to US$4.6 million during 2021. Technically, we engaged with the NT government to support its review of our Mining Management Plan (“MMP”) and move it toward approval, completed and announced positive results of an independent benchmarking study of the 2019 PFS and commenced a drill program to test the existence of mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. Strategically, we strengthened our relationship with the Jawoyn Association through an updated agreement and laid the foundation to support the pursuit of opportunities that will create greater value for our shareholders.As we begin 2021, we are encouraged about the prospects for Vista, Mt Todd and our shareholders. Most importantly, our strategy will continue to focus on programs to enhance value and de-risk Mt Todd as we work to achieve a valuation reflective of the size of the gold deposit, together with its Tier-1 mining jurisdiction in Australia’s low-risk NT, favorable low operating costs, robust project economics, and the fact that we hold approvals for all major environmental permits. With an asset of this scale, one of the best ways to balance risk and narrow the gap between Vista’s current market capitalization and Project net present value (“NPV”) is to seek a strategic transaction with a partner who is prepared to provide Vista shareholders with an appropriate valuation for the interest to be acquired, and that brings project development and operation skills and financial strength as we advance Mt Todd together. Fundamental to any transaction that we may consider, is our commitment to preserve maximum Project ownership for our shareholders, while minimizing future dilution. It is important to reiterate that we are not constrained or obligated to complete a transaction that does not achieve the goal of enhancing Vista’s valuation.Our top 2021 priorities are to achieve a market capitalization that is more reflective of the Mt Todd Project NPV, receive approval of the MMP, and initiate a follow up drill program to expand on the successful results of the current proof of concept drilling program.”Key 2020 HighlightsFinancial During 2020, Vista effectively monetized non-core assets, managed costs and capital spending, and strengthened its balance sheet. The Company continues to have no debt.VGZ Share Price Performance For the twelve months ended December 31, 2020, VGZ shares increased 49.0%. Vista continues to enjoy strong leverage to the price of gold, in part due to significant improvements in Mt Todd project economics.Exploration Vista commenced an eight-hole proof of concept drilling program to test targets known as the Batman Hanging Wall Lode and the Batman North Extension, with the goal of the program to test the existence of mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. In December, Vista reported results from hole 1 (VB20-001) in the Batman Hanging Wall Lode, which confirmed our initial interpretation and suggest that additional drilling could provide the basis for an increase in the mineral resource estimates both within and outside the currently designed Batman pit.Mining Management Plan Throughout 2020, Vista continued to work with the NT Division of Mines and the newly formed NT Department of Industry, Tourism and Trade to advance the review and approval process of the Mt Todd MMP. Once approved, Vista will hold all major permits for the Project.Jawoyn Agreement Vista and the Jawoyn Association updated their existing agreement to include a royalty and mutual cooperation and support commitments. This provides the Jawoyn Association with a gross proceeds royalty instead of its previous right to become a 10% participating joint venture partner in Mt Todd and provides Vista with greater flexibility in its decisions to develop and operate Mt Todd. It also provides greater commitment for a shared vision of promoting cross-cultural awareness, protecting cultural heritage sites, and providing economic opportunities for aboriginal people as integral components of the development of Mt Todd.Project Gold Price Sensitivity The Company updated its Project sensitivity analysis based on sustained higher gold prices. The October 2019 preliminary feasibility study (the “2019 PFS”) was completed using a gold price of US$1,350 and exchange rate of US$0.70=A$1.00. Based on these parameters, the after-tax NPV5% is US$823 million and the IRR is 23.4%. At a current gold price of US$1,850 and a US$0.775=A$1.00 foreign exchange rate, the after-tax NPV5% is US$1.7 billion and the IRR is 38.5%. Mt Todd demonstrates significant project-level leverage to the gold price and as shown in the updated sensitivity analysis, for every US$100 increase in the gold price the NPV5% increases approximately US$200 million.Water Management Program The Mt Todd water management program achieved significant results. In the past, Vista successfully treated 11.5 gigaliters of acidic water stored in the Batman Pit and began discharging treated water in compliance with a NT EPA discharge license. Through continued dewatering, the water level in the Batman pit was lowered by 23 meters in 2020.Independent Benchmarking Study Positive results from an independent benchmarking study (“Study”) of the 2019 PFS were announced in early 2020. The objective of the Study was to confirm capital and operating costs, and construction, commissioning and ramp up schedules as presented in the 2019 PFS. The positive findings provide greater assurance that the Company’s inputs and assumptions are reasonable and that schedules are practical.2021 OutlookMining Management Plan Vista believes the NT Department of Industry, Tourism and Trade is in the final stages of their approval process and hopes to receive authorization of the MMP in the near future. Upon receipt, Vista will have all major authorizations to commence development of the mine.Internal Evaluations of Mine Plans at Higher Gold Prices Vista’s mine plans are conservatively based on US$1,000 economic pit shapes. With the sustained improvement in gold price, Vista believes that a higher gold price can appropriately be applied for determining the optimal pit design.Ongoing Drilling Program Drilling is progressing for the current drill program. The remaining holes are targeting the Batman North Extension. Holes 2, 3 and 4 are now complete, with results expected to be announced in the near future. Drillholes 5 through 8 will continue through mid-February. Based on the results of this program, Vista may undertake additional follow-up drilling.Dewatering the Batman Pit Ongoing dewatering of the Batman pit will be a priority for the Company during the current wet season (November 2020 through April 2021). The Batman pit is expected to be effectively dewatered in 2021, representing the completion of an important milestone prior to a potential start of construction.Financial The Company received US$1.1 million in January and expects to further strengthen its cash position with the receipt of up to US$3.5 million by the end of July 2021 from a cash payment from Prime Mining Corp. and an option payment for the cancellation of the Company’s remaining royalty on the Awak Mas project. Vista expects to announce Q4 and full year 2020 financial results in February 2021.Strategic Opportunities Management will focus on engaging with potential partners and identifying strategic opportunities to advance the development of Mt Todd in a way that preserves maximum Project ownership for our shareholders, while minimizing future dilution.Technical Report on Mt Todd For further information on the Mt Todd Gold Project, see the Technical Report entitled “NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia” with an effective date of September 10, 2019 and an issue date of October 7, 2019, amended September 22, 2020, which is available on SEDAR as well as on Vista’s website under the Technical Reports section. John Rozelle, Vista’s Sr. Vice President, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the information in this press release.   See Cautionary Note to Investors regarding Estimates of Mineral Reserves and Resources below.About Vista Gold Corp.The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier-1 mining jurisdiction of NT, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis.For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report.Forward Looking StatementThis press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as our belief that we will achieve a valuation for the Company that is reflective of the size of the gold deposit and that this will be achieved through a strategic transaction with a partner; our belief that additional drilling could result in the basis for an increase in the mineral resource estimates both within and outside the current Batman pit; our estimates and expectations pertaining to the updated Project NPV and sensitivity analysis; our belief that the Northern Territory Department of Industry, Tourism and Trade is in the final stages of their approval process and our hope to receive authorization of the MMP in the near future; our plans for ongoing drilling of the Batman North Extension; our expectation that the Batman pit is expected to be effectively dewatered by mid-2021; our expectation that we will further strengthen the company’s cash position with the receipt of up to US$3.5 million by the end of July 2021; the timing of when we expect to announce Q4 and full year financial results; our plan to focus on engaging with potential partners and identifying strategic opportunities to advance the development of Mt Todd in a way that preserves maximum Project ownership for our shareholders, while minimizing future dilution; and our belief that Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators, and positive changes to current economic conditions and the price of gold. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate,” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.Cautionary Note to Investors Regarding Estimates of Mineral Reserves and ResourcesThe 2019 PFS referenced herein uses the terms defined in Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Definition Standards”). These definitions differ from the definitions in the mining disclosure rules of the United States Securities and Exchange Commission (“SEC”) Industry Guide 7 (“SEC Industry Guide 7”) under the United States Securities Exchange Act of 1933, as amended (the “Exchange Act”) and the new mining disclosure rules of Subpart 1300 of Regulation S-K under the Exchange Act (“SEC Modernization Rules”). Under SEC Industry Guide 7, the definitions and standards for mineral reserves are substantially different than NI 43-101 standards and the terms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” are not recognized or permitted. Under the SEC Modernization Rules, the definitions of “proven mineral reserves” and “probable mineral reserves” have been amended to be substantially similar to the corresponding CIM Definition Standards and the SEC has added definitions to recognize “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” which are also substantially similar to the corresponding CIM Definition Standards; however there are differences in the definitions and standards under the SEC Modernization Rules and the CIM Definition Standards and therefore once the Company begins reporting under the SEC Modernization Rules there is no assurance that the Company’s mineral reserve and mineral resource estimates will be the same as those reported under NI 43-101 and CIM Definition Standards as contained in the 2019 PFS or that the economics for the Mt Todd project estimated in the 2019 PFS will be the same as those estimated in any technical report prepared by the Company under the SEC Modernization Rules in the future.