Vista Gold Corp. Agrees to Defer Guadalupe de los Reyes Option Payment
__________________ NEWS _________________
Vista Gold Corp. Agrees to Defer Guadalupe de los Reyes Option Payment
Denver, Colorado, October 24, 2018 – Vista Gold Corp. (TSX & NYSE American: VGZ) (“Vista” or
the “Company”) today announced that it has agreed to extend the due date for the second $1.5 million
option payment for the Guadalupe de l os Reyes gold / silver project in Sinaloa, Mexico (the “GdlR
Project”) by six months to April 23, 2019. As consideration for the deferral, the Company will receive an
additional $150,000 in cash, $50,000 of which was paid to Vista on October 24, 2018 and $100,000 of
which Minera Alamos Inc. (“Minera Alamos”) has agreed to pay by January 23, 2019. In addition, Minera
Alamos has agreed to pay interest at a rate of 1.5% per month on the unpaid balance of the $1.5 million
payment beginning January 24, 2019.
On October 24, 2017, we announced the closing of the option agreement, wherein Vista granted Minera
Alamos an exclusive option to earn a 100% interest in the GdlR Project by , among other things, making
payments totaling $6.0 million comprised of a payment of $1.5 million made at the execution of the option
agreement, two successive payments of $1.5 million each to be made at the one -year and two -year
anniversaries of the option agreement, and a final $1.5 million payment to be made before the four -year
anniversary of the option agreement. To date, the Company has received the initial $1.5 million payment
as partial consideration for the GdlR Project and $50,000 as partial consideration for the six month deferral
of the second payment.
Frederick H. Earnest, President and Chief Executive Officer, commented, “Minera Alamos has made good
progress in advancing the GdlR Project . We believe the additional consideration they have offered
demonstrates their commitment to the planned development of the project.”
All dollar amounts in this press release are in U.S. dollars.
About Vista Gold Corp.
The Company is a well -funded gold project developer. Our principal asset is our flagship Mt Todd gold
project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia.
For further information, please contact Connie Martinez at (720) 981-1185.
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 e xpect or anticipate
will or may occur in the future, including such things as our expectation that we will re ceive $100,000 no later than January 23, 2019 and
interest at a rate of 1.5% per month on the unpaid balance of the deferred payment beginning January 24, 2019; and our belief that the additional
consideration offered by Minera Alamos demonstrates their commitment to the planned development of the project are forward-looking
statements and forward -looking information. The material factors and assumptions used to develop the forward -looking statements and
7961 Shaffer Parkway
Suite 5
Littleton, CO 80127
Phone: 720-981-1185
Fax: 720-981-1186
Trading Symbol: VGZ
Toronto and NYSE American Stock Exchanges
Toronto and NYSE MKT Stock Exchanges
forward-looking information contained in this press r elease include the following: our discussions with Minera Alamos, our reliance that
Minera Alamos will be able to raise funds to finance its business plans; our approved business plans, exploration and assay results, results of
our test work for process ar ea 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 res ults,
performance or achievements of the Company to be materially different from any future results, perfo rmance 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 i ncreases 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 headi ngs “Note
Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed on March 6, 2018
and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Al though we
have attempted to identify important factors that could cause actual results to differ materially from thos e 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.