Vista Gold Corp. Announces First Quarter Financial Results and Mt Todd Update
__________________ NEWS _________________
Vista Gold Corp. Announces First Quarter Financial Results and Mt Todd Update
Denver, Colorado, May 6, 2019 – Vista Gold Corp. (TSX & NYSE American: VGZ) (“Vista” or the
“Company”) today announced its unaudited financial results for the quarter ended March 31, 2019.
Management’s quarterly conference call to discuss these results is scheduled for 2:30 p.m. MDT on May
8, 2019. 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
May 6, 2019 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory
authorities.
Summary of Q1 2019 Financial Results
Vista reported a net loss of $2.7 million or $0.03 per share for the three- month period ended March 31,
2019. The loss is comprised of $2.1 million of operating expenses and a $0.6 million mark-to-market loss
on our investment in Midas Gold Corp., offset by other income of $0.1 million.
Working capital a t March 31, 2019 totaled approximately $10.7 million, including cash and short -term
investments (comprised of government securities) of approximately $6.4 million. The Company currently
has no debt.
Subsequent to the period end, the Company received the second $1.5 million option payment from Minera
Alamos for the Guadalupe de los Reyes gold / silver project in Sinaloa, Mexico. (Please refer to Vista’s
April 24, 2019 press release).
Mt Todd Update
During the quarter grinding tests were completed on 470 kilograms of samples with average grades ranging
from 0.8 to 1.7 grams gold per tonne (g Au/t), from its Mt Todd gold project. The preliminary grinding test
results confirm the results of previ ous tests, which indicate d that the power required to achieve a target
grind size of 38-45 microns is less than was estimated in the 2018 preliminary feasibility study. (Please
refer to Vista’s January 24, 2018 press release.) We have started an update of the Mt Todd technical report
and plan to incorporate these test results into a n updated preliminary feasibility study scheduled for
completion in the coming months.
Vista’s President and CEO, Mr. Frederick H. Earnest commented, “With completion of the grinding tests,
we are now able to complete leach recovery testing as the last phase of a comprehensive testing program.
With the anticipated completion of the leach recovery tests in the next month, we expect to generate grind-
size leach recovery curves co vering a wide range of potential ore feed grades. The relationship between
the grind-size and gold recovery on Mt Todd samples is well established, and we expect the leach recovery
tests to confirm the results of the test work announced in August 2018. (P lease refer to Vista’s August 2,
2018 press release.)
7961 Shaffer Parkway
Suite 5
Littleton, CO 80127
Phone: 720-981-1185 Trading Symbol: VGZ
Toronto and NYSE American Stock Exchanges
We are also pleased with t he receipt of the Guadalupe de los Reyes option payment as it provides the
Company with non-dilutive financing, consistent with our corporate strategy.”
Management Conference Call
A conference call with management to review our financial results for the first quarter ended March 31,
2019 and to discuss corporate and project activities is scheduled for May 8, 2019 at 2:30 p.m. MDT.
Participant Toll Free: 844-898-8648
Participant International: 647-689-4225
Conference ID: 2857058
This call will be archived and available at www.vistagold.com after May 8, 2019. Audio replay will be
available for 21 days by calling toll-free in North America: 855-859-2056, passcode 2857058.
If you are unable to access the audio or phone -in on the day of the conference call, please email your
questions to [email protected].
All dollar amounts in this press release are in U.S. dollars.
Technical Report on Mt Todd
For further information on the Mt Todd Gold Project, see the Technical Report entitled “NI 43- 101
Technical Report Mt Todd Gold Project 50,000 tpd Prel iminary Feasibility Study Northern Territory,
Australia”, dated March 2, 2018 with an effective date of January 24, 2018, which is available on SEDAR
as well as on Vista’s website under the Technical Reports section.
John Rozelle, Vista’ s Sr. Vice President, a Qualified Person as defined by N ational Instrument 43-101 –
Standards of Disclosure for Mineral Projects, has approved the information in this press release.
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 Pamela S olly, Vice President of Investor Relations, 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 an update of the Mt Todd technical report incorporating new test results
into a new report will be completed prior to the end of the second quarter 2019, completion of leach recovery testing as the last phase of a
comprehensive testing program in the next month, the leach recovery tests to confirm the results of the testing work announced in August
2018; 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 and 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 pre ss 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, 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 reso urce 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 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 co untries 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 headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual
Report on Form 10-K as filed in February 2019 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-looking statements
or forward-looking information; whether as a result of new information, future events or otherwise.