Mr. Frederick Earnest reports

VISTA GOLD CORP. ANNOUNCES FILING OF FINAL SHORT FORM BASE SHELF PROSPECTUS AND AMENDMENT OF SHELF REGISTRATION STATEMENT

Vista Gold Corp. has filed a final short-form base-shelf prospectus with the securities commissions of each province and territory of Canada (other than Quebec) and an amendment to its shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission. The Canadian prospectus was filed to replace Vista's prior Canadian short-form base-shelf prospectus, which expired last quarter. Vista's current shelf registration statement on Form S-3 expires next year and will not be affected by the filing of this separate shelf registration statement on Form S-3. The company has no current intention to immediately sell securities under the offering documents. This preserves Vista's ability to complete future financings for corporate growth and development in an efficient and flexible manner, if appropriate at the time.

The offering documents, if and when brought effective, allow Vista to make offerings of common shares, warrants, subscription receipts or units for total proceeds of up to $50-million (U.S.) during the next three years to potential purchasers in the United States and during the next 25 months to potential purchasers in each province and territory of Canada (other than Quebec).

As previously announced, Vista currently anticipates using any proceeds from the sale of securities under the offering documents, if any, to finance the development of existing or acquired mineral properties, for property acquisitions, for working capital requirements, to repay indebtedness outstanding from time to time, if any, or for other general corporate purposes.

Frederick H. Earnest, president and chief executive officer, commented: "We have brought our costs down dramatically over the past year, and are prepared to keep our costs at these current levels as we wait for the markets to improve. Until then, we will continue to give priority to financing through non-dilutive means, such as the sale of non-core assets. Prudent business practice dictates that we maintain the flexibility that these shelf filings afford us, although our history shows that we use them sparingly."

The terms of any securities offered under the offering documents and the intended use of the net proceeds resulting from such offering will be established at the time of any offering and will be described in a prospectus supplement filed with the U.S. Securities and Exchange Commission and applicable Canadian securities regulatory authorities at the time of the offering. After the registration statement becomes effective, a copy of the offering documents and, at the time of an offering, if any, a prospectus supplement relating to the offering under the offering documents, when available, can be obtained by contacting Vista, attention: Connie Martinez at 720-981-1185, Suite 5, 7961 Shaffer Parkway, Littleton, Colo., 80127.

We seek Safe Harbor.