MT TODD MINE

Vista Gold announced it has mobilized three drill rigs to the Mt. Todd gold project, Australia, in anticipation of commencing a 14,000 m drilling program early January. The 5,000 m core drilling program is designed to test areas of the Batman deposit for potential resource expansion, to convert inferred resources to measured and indicated resources and to obtain samples for further metallurgical testing. The 9,000 m reverse circulation drilling program is designed to test targets on licenses located adjacent to the Batman deposit. In addition, the company continues to advance its Pre-Feasibility Study on Mt. Todd.

Vista Gold Corp announce the closing of the sale of 1.32 million common shares, pursuant to the underwriters' exercise of the over-allotment option, which the company granted in connection with its recently-closed public offering of common shares. Proceeds to the company from the offering to date, net of commissions and expenses, are approximately US$20.3 million, which includes net proceeds of approximately US$2.74 million from the sale of the 1.32 million common shares pursuant to the underwriters’ exercise of the over-allotment option.

Vista Gold Corp. announce the closing of its previously announced public offering of common shares pursuant to the company’s shelf registration statement filed with the U.S. Securities and Exchange Commission and a shelf prospectus filed with certain Canadian securities regulatory authorities. The company sold 8.8 million common shares at a price of US$2.25 per common share. The company has granted the underwriters a 30-day option to purchase up to 1.32 million additional common shares to cover over-allotments, if any. Proceeds to the company from the offering, net of commissions, fees and expenses, were approximately US$17.6 million (assuming the underwriters’ over-allotment option is not exercised). Vista intends to use the net proceeds from this offering to fund drilling, exploration, and technical/engineering activities (including the preparation of a feasibility study) on its Mt. Todd gold project, fund the engineering, design and other technical activities to advance its Paredones Amarillos gold project and to fund other activities as warranted.