Vista Gold Corp. Announces First Quarter Financial Results
__________________ NEWS _________________
Vista Gold Corp. Announces First Quarter Financial Results
Denver, Colorado, April 27, 2018 – Vista Gold Corp. (TSX & NYSE American: VGZ) (“Vista” or the
“Company”) today announced its unaudited financial results for the first quarter ended March 31, 2018.
Management’s quarterly conference call to discuss these results is scheduled for 10:30 a.m. MDT on May
4, 2018. The Company’s unaudited financial statements, Management’s Discussion and Analysis together
with other important disclosures can be found in the Company’s Quarterly Report on Form 10-Q, filed on
April 27, 2018 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory
authorities.
Summary of Q1, 2018 Financial Results
We reported a net loss of $0.9 million or $0.01 per share for the three-month period ended March 31, 2018.
This includes $3.1 million of operating expenses, a $2.0 million mark-to-market gain on our investment in
Midas Gold Corp. and other income of $0.2 million.
Our working capital at March 31, 2018 totaled approximately $18.6 million, including cash and short-term
investments (comprised of government securities) of approximately $13.3 million. The Company currently
has no debt.
Frederick H . Earnest, President and Chief Executive Officer, commented, “In the first quarter , we
announced the achievement of two important milestones for the Mt Todd gold project. The approval of
the authorization required under the Australian Commonwealth Environmental Protection and Biodiversity
Protection Act marks the successful conclusion of several year s of environmental permitting work. The
updated preliminary feasibility study results demonstrate the significant positive impact of the technical
programs that were completed during the preceding 18 months. We are now undertaking optimization
studies which we expect to complete over the next two quarters.”
Management Conference Call
A conference call with management to review our financial results for the quarter March 31,2018 and to
discuss corporate and project activities is scheduled for Friday, May 4, 2018 at 10:30 a.m. MDT.
Participant Toll Free: 844-898-8648
International: 647-689-4225
Conference ID: 7285669
This call will also be web-cast and can be accessed at the following web location:
http://event.on24.com/r.htm?e=1664998&s=1&k=26A74DF95DF920CD5DE2CF8A1A66A766
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
This call will be archived and available at www.vistagold.com after May 4, 2018. Audio replay will be
available for 21 days by calling toll-free in North America: 855-859-2056, passcode 7285669.
If you are unable to access the audio or phone-in on the day of the conference call, please email questions
to Connie Martinez, Manager – Investor Relations (email: [email protected]), and we will try to
address these questions prior to or during the conference call.
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 expect or anticipate
will or may occur in the future, including such things as our belief that our completed technical programs have a significant positive impact
on the Mt Todd project feasibility study; our expectation that we will complete optimization studies over the next two quarters; and our belief
that Mt Todd is the largest undeveloped gold project in Australia are forward -looking statements and forward -looking information. The
material factors and assumptions used to develop the forward -looking statements a nd forward-looking information contained in this press
release include the following: no change to laws or regulations impacting mine development or mining activities, our approved business plans,
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, our experience and knowledge of the Australian mining industry 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 intende d 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, performance or achievements of the Company to be materially different from any future results, performance 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 r aise capital; risks relating to cost increases 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; uncertaint y 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
headings “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.
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 obliga tion to publicly update any forward -looking statements or forward -looking
information; whether as a result of new information, future events or otherwise.