Vista Gold Corp. Announces Initial Results of Automated Sorting Tests and the Start of an Update of its Mt Todd Preliminary Feasibility Study
__________________ NEWS _________________
Vista Gold Corp. Announces Initial Results of Automated Sorting Tests
and the Start of an Update of its Mt Todd Preliminary Feasibility Study
Denver, Colorado, July 24, 2017 - Vista Gold Corp. (the “Company,” “we” or “our”) (NYSE MKT: VGZ) (TSX:
VGZ) today announced the completion of the automate d sorting tests on the coarse fractions of the four 5-tonne
bulk samples from its Mt Todd gold project. The tests, completed at the facilities of Tomra Sorting Solutions near
Hamburg, Germany, demonstrate that plus 5/8" (16 mm) product from the HPGR crusher can be efficiently sorted
to separate the non-gold-bearing particles from the gold -bearing sulfides and quartz/calcite veining, at production
rates.
The tests confirmed that, consistent with previous test work, 8-10% of the run-of-mine feed to the crushing circuit
can be removed from the process stream prior to the grinding circuit. This is expected to reduce grinding circuit
operating costs and prov ide a modest increase in grade to the grinding circuit. These results, combined with the
favorable previously announced results of the HPGR crushing tests, provide support for key assumptions
underlying the Company’s decision to commence an update of the Mt Todd Preliminary Feasibility Study (“PFS”).
Vista’s President & CEO, Frederick H. Earnest, commented , “The application of this technology is not new to the
mining sector and it is being used effectively where ores have distinct visual and/or density variations. Being
present for the automated sorting of the bulk samples at production rates allowed us to observe the efficiency of
this technology and its applicability to the Mt Todd gold project. The material balance results are consistent with
previous test results and we expect to have assay results for the sorted material in August.
“With this phase of our metallurgical testing program complete, we are prepared to commence the grinding and
leach recover y optimization testing once the samples are returned from Germany. The final results of this
metallurgical testing program are expected to be available the middle of September . We have commenced the
work of updating our PFS for the Mt Todd gold project , inclusive of flow sheet changes to integrate this sorting
technology. We believe these changes will deliver a better technical project with improved economics.”
Automated Sorting Test Results
The bulk sorting tests confirmed our ability to selectively remove particles known to have minerals associated with
the presence of gold in the Batman deposit at production rates. The plus 5/8" (16 mm) material from the HPGR
crushing/screening test s at Thyssen Krupp Industries was shipped to the facilities of Tomr a Sorting Solutions.
Three members of Vista ’s management/project development team were present to observe the tests , which were
conducted in a standard production-size sorter with a 60 cm wide belt . Material from each of the four composites
was sorted fi rst using x -ray transmission ( “XRT”) to remove particles containing sulfide m inerals and
subsequently using lasers to remove particles containing quartz/calcite. The XRT sorting tests were conducted at
three different sensitivity levels. The material balance results of the sorting tests are summarized in the following
table.
Plus 5/8" Fraction Composite 1 Composite 2 Composite 3 Composite 4
XRT Sorted Material 33-57% 38-54% 27-46% 38-57%
Laser Sorted Material 2.2-1.4% 7.6-6.7% 7.7-5.1% 1.9-1.3%
Sorting Reject 40-62% 38-54% 46-64% 40-59%
Trading Symbol: VGZ
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Phone: 720-981-1185
Fax: 720-981-1186
Fraction of Total Composite
Sorting Reject 7.0-10.9% 6.8-9.6% 7.7-10.7% 7.4-11.0%
Each composite represents a different part of the Batman deposit with varying amounts of sulfide and
quartz/calcite mineralization which provided the opportunity to sort material that represented: high grade core, low
grade peripheral, average to high grade early production and average grade main deposit. The variation in the
amount of material sorted b y the XRT and laser sorting steps is a reflection of the relative mineral content and is
not an indication of sorting efficiency. Upon receipt of assay results, the Company will determine the optimal
settings, taking into consideration gold losses, grade of sorted product and total product rejected.
Based on the results of this testing, the Company plans to apply a different sorting recovery/waste reject factor to
each of the different major mineralization styles in the deposit.
Commencement of Preliminary Feasibility Study Update
We believe that the Mt Todd gold project is a better gold project today as a result of the project optimization work
completed over the last 12 months and we have commenced the work of updating the current PFS. As part of this
work we intend to evaluate and include all appropriate production improvements and the most current economic
factors. We believe the results of this study , when completed late this year or early next year, will demonstrate a
technically improved project and provide an improved perspective of the value of the Mt Todd gold project at
present gold prices.
Qualified Person
The scientific and technical information disclosed in this press release has been reviewed and approved by Mr.
John Rozelle, Senior Vice President of Vista and a qualified person (as defined by Canadian National Instrument
43-101).
About Vista Gold Corp.
The Company is a well-funded gold project developer. Our principal asset is our flagship Mt Todd gold projec t in
Northern Territory, Australia . Mt Todd is one of the largest undeveloped gold projects in Australia. For more
information about our projects, including technical studies and resource estimates, please visit our website
at www.vistagold.com.
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 plus 5/8" product from the HPGR crusher can be
efficiently sorted at production rates (including the ability to selectively remove minerals associated with the presence of gold at the Batman
deposit); our expectation that the removal of 8 -10% of the run -of-mine feed to the crushing circuit from the process stream prior to the
grinding circuit will reduce operating costs and provide a modest increase in the grade to the grinding circuit; our plans to commence
grinding and leach recovery optimization testing; the expected timing of, the completion of and the expected results of our proposed
metallurgical testing program, assay results and updated PFS; and our belief that the Mt Todd gold project is a better techni cal project with
improved economics; and other such matters a re 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: our approved business plans, exploration and assay results, results of our test work for process area improvements, mineral
resource and reserve estimates and results of preliminary economic assessments, prefeasibility studies and feasibility studies on our projects,
our experience with regulators, representative samples reflect the Mt Todd gold project, 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 wh ich 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 resour ce 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 cos ts; 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 headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10 -K as
filed on February 22, 2017 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 res ults 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.