Vista Gold Continues to Encounter High Grade Gold Intercepts in Final Holes of 2024 Drilling Program
__________________ NEWS _________________
Vista Gold Continues to Encounter High Grade Gold Intercepts in Final Holes of 2024 Drilling
Program
Denver, Colorado, January 13, 2025 – Vista Gold Corp. (NYSE American and TSX: VGZ) today announced the
final drill results for its 2024 drilling program at the Mt Todd gold project. These results further delineate the wider
veins with high gold grade intercepts that are consistent with previous drill results in the South Cross Lode (the
“SXL”).
Drilling Highlights
VB24-032 – Drilled in the SXL and returned multiple mineralized intervals, including
• 3.0 meters at 4.13 grams of gold per tonne (“g Au/t”) from 121.1 meters downhole, including
∙ 0.6 meters at 18.34 g Au/t from 123.5 meters downhole
• 1.1 meters at 16.00 g Au/t from 142.9 meters downhole, including
∙ 0.3 meters at 65.42 g Au/t from 142.9 meters downhole
VB24-033 – Drilled in hanging wall structures adjacent to the Batman deposit and returned multiple mineralized
intervals, including
• 43.3 meters at 0.82 g Au/t from 109.0 meters downhole, including
∙ 1.0 meters at 7.55 g Au/t from 134.0 meters downhole
VB24-034 – Drilled in the SXL and returned multiple mineralized intervals, including
• 29.0 meters at 1.55 g Au/t from 156.0 meters downhole, including
∙ 1.9 meters at 8.01 g Au/t from 172.1 meters downhole
Frederick H. Earnest, President and CEO, commented, “The holes announced today were an excellent way to finish
our drilling in the South Cross Lode. We are most excited about the wider and higher-grade vein intercepts that we
continued to encounter at depth s beginning just 100 meters below surface . The Company plans to provide an
overview of the 2024 drilling program in the coming weeks.
These and prior drill holes in the South Cross Lode demonstrate the continuity of the mineralization along strike at
relatively shallow depths. We expect this to benefit the update to our resource model and the reserve estimates that
will be completed in conjunction with the in-progress Mt Todd feasibility study.”
Drilling Assessment
The holes reported today concluded Phase 2 of the Company’s 2024 drilling program at the Company’s Mt Todd
gold project located in Northern Territory, Australia. These last holes were located to provide specific information
to support updating the mineral resource model and to delineate the limits of mineralization in the SXL . Based on
8310 S. Valley Highway
Suite 300
Englewood, CO 80112
Phone: 720-981-1185
Trading Symbol: VGZ
NYSE American and TSX Stock Exchanges
Toronto and NYSE MKT Stock Exchanges
2
these results, we believe that mineralization in the SXL remains open at depth and to the northeast. Hole VB24-033
was drilled to confirm the limits of hanging wall structures adjacent to the Batman deposit.
Holes VB24-031 and VB24-032 demonstrated consistent mineralization from near-surface depths through the end
of the holes. Hole VB24-033 was positioned to intercept hanging wall structures to the Batman deposit at greater
depths. These three holes were strategically positioned within the 2024 Feasibility Study (as defined below) mineral
resources shell. Data from these holes provide a better understanding of the mineralization, structure , and the
geological characteristics of the targeted mineralized zones.
Hole VB24-034 is located at the northeast extent of our drilling in the SXL. This hole show ed encouraging high
grades and featured multiple mineralized intervals, including 29.0 meters at 1.55 g Au/t from 156.0 meters downhole.
Along with other nearby holes in the 2024 drilling program, this hole indicates that mineralization remains open at
depth and to the northeast, trending towards other identified targets announced for the 2020-2022 drilling program.
Hole VB24-025 was extended to confirm the presence of veins intercepted by deeper holes in the vicinity. This
extension successfully identified two additional mineralized intervals, with a notable 7.0 meters at 0.98 g Au/t from
192 meters downhole, including 0.4 meters at 12.56 g Au/t.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
3
Figure 1: Plan view of the Mt Todd terrain showing Phase 2 drill hole locations with respective orientation,
highlighting the holes announced in this release.
4
Figure 2: Plan view of the Phase 2 drill holes, including holes in this release, in relation to the current reserves pit
design, resource shell, and the wireframe representing the SXL.
5
Figure 3: Cross section (8435850N) of the center portion of the SXL, illustrating drill holes VB24-031 and VB24-
032 within the current mineral resource shell from the 2024 Feasibility Study featuring blocks with a cut-off grade
above 0.40 g Au/t.
Figure 4: Cross section (8435450N) of the Batman core zone, illustrating drill holes VB24-033 within the current
mineral resource shell from the 2024 Feasibility Study featuring blocks with a cut-off grade above 0.40 g Au/t.
VB24-033 : 9.8m @1.00 g Au/t from 260.2m
Higher grades intercepted
than previously estimated
VB24-033 : 29m @0.82 g Au/t from 109m
1 Resource Shell defining the mineral resource inventory as described in the 2024 Feasibility Study.
2 Pit Design defining the mineral reserves (proven and probable) as described in the 2024 Feasibility
Study.
8435450N
8435850N
1 Resource Shell defining the mineral resource inventory as described in the 2024 Feasibility Study.
2 Pit Design defining the mineral reserves (proven and probable) as described in the 2024 Feasibility Study.
VB24-032 : 1.1m @16.00 g Au/t from 142.9m
VB24-032 : 3.0m @4.13 g Au/t from 121.1m
VB24-032 : 5.9m @1.28 g Au/t from 96.1m
VB24-031 : 9.0m @1.01 g Au/t from 84.0m
6
Table 1: Summary of Phase 2 drill holes VB24-031 through VB24-034 and extension of VB24-025 – highlighting
intercepts greater than 5.0 g Au/t.
Hole No. Grid Coordinates Survey Data Intersections*
MGA94
Grid
Easting
MGA94
Grid
Northing
RL
(m)
Azimuth
(°)
Dip
(°)
Depth
(m) From
(m)
To
(m)
Interval
(m)
True
Thickness
(m)
Grade
(g Au/t )
VB24-025 187623 8435695 138 268.8 -60.4 239.4 22.5 30.5 8.0 3.9 1.20
including 27.9 30.5 2.7 1.3 3.22
and 46.0 52.0 6.0 3.0 0.50
and 60.0 63.8 3.8 1.9 0.50
and 70.0 91.0 21.0 10.4 0.60
including 70.0 71.0 1.0 0.5 5.57
and 96.0 106.0 10.0 5.0 0.61
and 119.0 122.4 3.4 1.7 0.57
and 142.5 163.3 20.8 10.9 1.96
including 147.0 150.9 3.9 2.0 3.06
including 155.0 156.0 1.0 0.5 9.19
including 160.0 163.3 3.3 1.7 4.93
Hole extended starting at 167.4m downhole.
and 192.0 199.0 7.0 3.6 0.98
including 192.0 192.4 0.4 0.2 12.56
and 205.0 211.4 6.3 3.3 0.66
VB24-031 187719 8435853 134 268.6 -60.1 230.3 34.3 39.3 5.0 2.5 0.81
and 53.4 58.2 4.8 2.3 0.68
and 63.1 73.0 9.9 4.8 0.43
including 63.1 64.1 1.0 0.5 2.21
and 84.0 93.0 9.0 4.4 1.01
including 88.0 89.1 1.0 0.5 6.49
and 137.0 149.0 12.0 6.2 0.72
and 186.0 196.0 10.0 5.3 0.45
and 212.0 220.0 8.0 4.3 0.56
including 212.0 212.9 0.9 0.4 3.92
VB24-032 187675 8435809 133 271.1 -60.4 176.3 3.8 14.0 10.2 5.2 0.56
including 13.0 14.0 1.0 0.5 2.11
and 21.0 31.2 10.2 5.2 0.46
and 35.5 48.0 12.5 6.4 0.73
and 61.0 66.0 5.0 2.5 0.50
and 96.1 102.1 5.9 3.0 1.28
including 96.1 96.7 0.6 0.3 6.36
and 109.0 112.0 3.0 1.5 2.06
and 121.1 124.1 3.0 1.5 4.13
including 123.5 124.1 0.6 0.3 18.34
and 142.9 144.0 1.1 0.5 16.00
including 142.9 143.2 0.3 0.1 65.42
and 167.9 176.0 8.1 4.1 0.51
7
VB24-033 187380 8435449 157 268.6 -62.0 293.8 109 152.3 43.3 29.9 0.82
Including 134 135 1 0.7 7.55
and 157.2 170 12.8 8.8 0.74
and 182.1 213 30.9 21.3 0.53
and 232 241 9 6.2 0.56
and 260.2 270 9.8 6.8 1.00
Including 268 269 1 0.7 6.12
VB24-034 187822 8436002 146 268.9 -60.4 238.1 94.0 105.3 11.3 5.3 0.96
and 125.4 148.8 23.5 10.9 0.57
and 156.0 185.0 29.0 13.4 1.55
Including 172.1 174.0 1.9 0.9 8.01
and 202.1 208.6 6.5 3.0 1.28
and 226.0 230.1 4.1 1.9 1.45
Including 229.6 230.1 0.5 0.2 7.53
*Sample Type – HQ ½ Core
Notes:
(i) Results are based on ore grade 50 g fire assay for Au.
(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 meters to a maximum
of 1.2 meters.
(iv) Weighted mean grades have been calculated on a 0.4 g Au/t lower cut-off grade with no upper cut-off grade applied, and maximum internal waste of
4.0 meters.
(v) All mineralized interval lengths reported are downhole intervals.
(vi) True Thicknesses are estimated based on the orientation of veining as measured relative to the core axis.
(vii) All downhole deviations have been verified by downhole gyro equipment.
(viii) Collar coordinates surveyed by Cross Solutions Pty Ltd using survey-grade GNSS RTK equipment.
(ix) The Company maintains a Quality Assurance and Quality Control (QA/QC) procedures program in accordance with the requirements and guidelines
of CIM Standards of Disclosure for Mineral Projects.
(x) The independent laboratory responsible for the assays was North Australian Laboratories Pty Ltd, Pine Creek, NT.
QA/QC Protocols and Sampling Procedure
All sampling was conducted under the supervision of the Company's geologists and the chain of custody from Mt
Todd facilities to the independent sample preparation facility at North Australian Laboratories Pty Ltd (“NAL”) in
Pine Creek, NT was continuously monitored.
• The core is marked, geologically logged, geotechnically logged, photographed, and sawn into halves using
diamond saws. One-half is placed into pre -numbered sample bags as per industry standards with sample
lengths between a minimum of 0.2 meters to a maximum of 1.2 meters. The other half of the core is retained
for future reference by the Company. The only exception to this is when a portion of the remaining core has
been flagged for use in metallurgical testwork.
• Following common industry practices, blanks and standards are also placed in plastic bags for inclusion in
the shipment. A reference blank or a standard is inserted at a minimum ratio of 1 in 10 and additional blank
samples are added at suspected high -grade intervals . Standard reference material is sourced from Ore
Research & Exploration Pty Ltd and provided in 60-gram sealed packets. When a sequence of four samples
is completed, they are placed in a shipping bag and tied closed. All of these samples are kept in a secure area
on-site until crated for shipping.
• Vista employees ship and transport the samples to the NAL. At the lab, the samples are pulverized and split
down to 50-gram assay samples prior to assaying. The industry-standard 3 assay-ton fire assay is followed
by an atomic absorption (AA) finish.
8
• For the purposes of this release, mineralized intervals are defined as runs of mineralization with a maximum
internal waste of 4.0 meters.
• NAL is independent of Vista.
It is the opinion of the QP (as defined below) that the sample preparation methods and quality control measures
employed before the dispatch of samples to an analytical or testing laboratory ensured the validity and integrity of
samples taken.
About Vista Gold Corp.
Vista holds the Mt Todd gold project, ready-to-build development-stage gold deposit located in the Tier-1 mining
jurisdiction of Northern Territory, Australia. Vista is positioning Mt Todd as a leading development opportunity
within the gold sector. Mt Todd offers significant scale, development optionality, growth opportunities, advanced
local infrastructure, community support, and demonstrated economic feasibili ty. All major environmental and
operating permits necessary to initiate development of Mt Todd are in place.
Vista’s strategy is to advance Mt Todd in ways that efficiently position the project for development while exercising
the discipline necessary to best realize value at the right time. Vista believes its strategy of advancing Mt Todd in
this manner will deliver a more fully valued project to its shareholders.
For further information about Vista or Mt Todd, please contact Pamela Solly, Vice President of Investor Relations,
at (720) 981-1185 or visit the Company’s website at www.vistagold.com.
Qualified Person
Maria Vallejo, Vista’s Director of Projects and Technical Services, a Qualified Person (“QP”) as defined by Item
1300 of Regulation S-K under the Securities Exchange Act of 1934, as amended, and Canadian National Instrument
43-101 – Standards of Disclosure for Mineral Projects, has verified the data und erlying the information contained
herein and has approved this press release. The information contained in this press release is provided to inform the
reader of the advancement of the 2024 drilling program for the Mt Todd project.
Technical Studies
For more information on the Company’s March 2024 feasibility study (the “2024 Feasibility Study”), including with
respect to mineral resource and mineral reserve estimates, please refer to the technical report summary entitled “S-K
1300 Technical Report Su mmary – Mt Todd Gold Project – 50,000 tpd Feasibility Study – Northern Territory,
Australia” with an effective date of March 12, 2024 and an issue date of March 14, 2024 available at www.sec.gov
and, for Canadian purposes, the technical report entitled “National Instrument 43-101 Technical Report – Mt Todd
Gold Project – 50,000 tpd Feasibility Study – Northern Territory, Australia” with an effective date of March 12,
2024 and an issue date of April 16, 2024 under Vista’s profile at www.sedarplus.ca. For more information on the
Company’s 2024 drilling results, please refer to the Company’s previous 2024 drilling news releases available under
the Company’s profile at www.sedarplus.ca.
Forward Looking Statements
This news 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. A ll statements, other
than statements of historical facts, included in this news release that address activities, events or developments that the Company expects or
anticipate will or may occur in the future, including such things as the Company’s plans to provide an overview of the 2024 drilling program