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Vista Gold Corp. Announces Completion of Resource Study for the Long Valley Project and Intent to Proceed with Purchase
PRNewswire-FirstCall
DENVER

Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has completed its due diligence review of the Long Valley gold project, and will proceed with the purchase, as outlined in the Corporation's press release of November 20th. The project, comprised of 95 claims covering 1,800 acres, is located in Mono County, 30 miles northwest of Bishop, California. It is being acquired under a purchase option agreement with Standard Industrial Metals, Inc. The aggregate purchase price of $750,000 would be paid in annual installments over a five-year period ending January 2007.

Due diligence included completion of a resource study following Canadian National Instrument 43-101 standards. The resource study was performed by Mine Development Associates of Reno, Nevada, an independent consulting firm, under the supervision of Mr. Neil Prenn, P. Eng., Qualified Person. Resources were calculated using industry-standard block modeling software. Based on the study, geological resources(1) above a 0.010 opt cut-off are:

                               Short Tons         Gold Grade   Contained
                                                 Troy oz/ton     Ounces
                                                    (opt)
   Measured and indicated(2)
   Oxide resources             36,073,000           0.018       660,800
   Sulfide resources           32,203,000           0.017       550,400
    Total measured
     and indicated             68,276,000           0.018     1,211,200

   Inferred(3)
   Oxide resources             11,540,000           0.019       219,400
   Sulfide resources           21,374,000           0.016       352,100
     Total inferred            32,914,000           0.017       571,500

   Oxidation of the mineralization extends to depths of 250 feet from
   surface.  The oxidized material forms about 55% of the measured and
   indicated resource and 38% of the inferred resource.


  (1)  Mineral resources which are not mineable reserves do not have
       demonstrated economic viability.

  (2)  Cautionary Note to U.S. Investors concerning estimates of Indicated
       Resources:  This table uses the terms "measured and indicated
       resources."  We advise U.S. investors that while these terms are
       recognized and required by Canadian regulations, the U.S. Securities
       and Exchange Commission does not recognize them.  U.S. investors are
       cautioned not to assume that any part or all of mineral deposits in
       this category will ever be converted into reserves.

  (3)  Cautionary Note to U.S. Investors concerning estimates of Inferred
       Resources:  This table uses the term "inferred resources."  We advise
       U.S. investors that while this term is recognized and required by
       Canadian regulations, the U.S. Securities and Exchange Commission
       does not recognize it.  "Inferred resources" have a great amount of
       uncertainty as to their existence, and great uncertainty as to their
       economic and legal feasibility.  It cannot be assumed that all or any
       part of an inferred mineral resource will ever be upgraded to a
       higher category.  Under Canadian rules, estimates of inferred mineral

Resources were calculated using data from 816 reverse circulation and 20 diamond drill holes, totaling 262,315 feet. Drill spacing averages 120 feet. The bulk of the drilling was performed by Royal Gold, Battle Mountain Gold and Amax Gold, between 1990 and 1997. Standard sampling and assaying, quality control and surveying procedures were applied.

Gold mineralization forms two large flat-lying "blankets", from surface to depths of up to 500 feet. The Hilton Creek zone is approximately 8,000 feet by 1,200 feet in plan view, and the Southeast zone is approximately 5,000 feet by 1,000 feet. Mineralization is open to the east, north and south as well as at depth. In addition to the presently defined resource, there is extensive historical exploration data, suggesting significant exploration potential.

The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com

SOURCE: Vista Gold Corp.

CONTACT: Jock McGregor or Jack Engele, of Vista Gold Corp.,
+1-720-981-1185

Web site: http://www.vistagold.com/


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