Vista Gold Corp. Announces Favorable Changes to the Northern Territory, Australia Mineral Royalties Regime
__________________ NEWS _________________
Vista Gold Corp. Announces Favorable Changes to the Northern Territory, Australia
Mineral Royalties Regime
Denver, Colorado, June 11, 2024 – Vista Gold Corp. (NYSE American and TSX : VGZ) ( “Vista” or the
“Company”) today announced that the Northern Territory, Australia (the “NT”) has passed legislation to enact the
Mineral Royalties Act 2024 (“Royalties Act”) effective July 1, 2024. The Royalties Act will replace the prior net
profits royalty regime with an ad valorem royalty regime for new mines. The new effective royalty rate is expected
to positively impact project economics for the Company’s Mt Todd gold project in the NT. All dollar amounts in
this press release are in U.S. dollars.
The Royalties Act is aimed at encourag ing present and future exploration and development of mining projects by
simplifying the NT’s royalty system and making it more competitive with other Tier 1 jurisdictions. Pursuant to the
Royalties Act, the royalty rate applicable to gold doré from Mt Todd will be 3.5% of the value of gold produced.
Frederick H. Earnest, President and CEO of Vista Gold, stated, “We are pleased with the successful efforts of the
NT Government to encourage new mining development in the Territory. The 3.5% royalty to be applied to the
production from Mt Todd represents a meaningful opportunity for improved project economics and earlier
shareholder returns compared to our 2024 updated feasibility study, which included NT royalties equivalent to nearly
a 7% ad valorum rate. Under the previous net profits royalty regime, our base case economic analysis at an $1,800
gold price estimated the payment of $765 million in NT royalties over the life of the mine. The new royalty rate will
represent nearly a 50% reduction in payable royalties and underscores the NT’s commitment to growing a viable
mining sector through new development.”
The Chief Minister and Treasurer of the Northern Territory , Eva Lawler, recently commented, “Mining is a key
driver of the Territory economy. An ad valorem scheme is simple, competitive, and delivers investment certainty,
allowing new mines to commence operations in the Territory, creating significant economic benefit, higher
employment, and more royalties for Territorians. Right now we are in a position to set our course for a mining
industry that is not only profitable to the Northern Territory, but also supports the energy transition to renewables.”1
John Rozelle, a “qualified person” as defined by Canadian 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.
About Vista Gold Corp.
Vista is a gold project developer. The Company’s flagship asset is Mt Todd , located in the mining friendly
jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is one
of the largest development stage opportunities in Australia and demonstrate s compelling economics. All major
environmental and operating permits necessary to initiate development of Mt Todd are in place.
8310 S. Valley Highway
Suite 300
Englewood, CO 80112
Phone: 720-981-1185
Trading Symbol: VGZ
NYSE American and TSX Stock Exchanges
2
Mt Todd benefits from its location in a leading mining jurisdiction and offers opportunities to add value through
growth of mineral reserves, alternative development strategies, and other de-risking activities.
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.
1 Lawler, Eva Dina and Australian Labor Party. (2024, May 21) Securing the best value for our Territory resources. Northern Territory
Government.
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, including our belief that the Mineral Royalties Act 2024 (“Royalties Act”) will be effective July 1, 2024;
our belief that the Royalties Act will replace the prior net profits royalty regime with an ad valorem regime for new mines; our belief that the
new effective royalty rate is expected to positively impact project economics for the Company’s Mt Todd gold project; our belief that the
Royalty Act is aimed at encouraging present and future exploration and development of mining projects by simplifying the NT’s royalty
system and making it more competitive with other Tier 1 jurisdictions; our belief that the royalty rate applicable to gold doré from Mt Todd
will be 3.5% of the value of gold produced ; our belief that the 3.5% royalty to be applied to the production from Mt Todd represents a
meaningful opportunity for improved project economics and earlier shareholder returns compared to our 2024 updated feasibility study, which
included NT royalties equivalent to nearly a 7% ad valorem rate; under the previous net profits royalty regime, our base case economic analysis
at an $1,800 gold price estimated the payment of $765 million in NT royalties over the life of the mine ; our belief that the new royalty rate
will represent nearly a 50% reduction in payable royalties and underscores the NT’s commitment to growing a viable mining sec tor through
new development; our belief that Mt Todd is one of the largest development stage opportunities in Australia and demonstrates compelling
economics; our belief that Mt Todd offers opportunities to add value through growth of mineral reserves, alternative development
opportunities, and other de -risking activities 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 news 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; political and social support of the
mining industry in Australia; our experience and knowledge of the Australian mining industry and our expectations of economic conditions
and the price of gold. When used in this news 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, performa nce or
achievements of the Company to be materially different from any future results, performance or achievements expressed or imp lied 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 cost s; 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 metallurg ical 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 in March 2024 , subsequent
Quarterly Reports on Form 10-Q, 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-lo oking statements or forward-
looking information; whether as a result of new information, future events or otherwise.