Mr. Frederick Earnest reports

VISTA GOLD CORP. ANNOUNCES SECOND QUARTER 2014 RESULTS

Vista Gold Corp. has released its unaudited financial results and highlights for the second quarter ended June 30, 2014 (all amounts are in U.S. dollars). 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 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Frederick H. Earnest, president and chief executive officer, commented: "We remain focused on cash management and ensuring our long-term liquidity. We spent under $2.0-million during the quarter, as forecasted, and I believe that we are on track to continue this trend through the remainder of the year. I am also pleased with the progress we are making with respect to the environmental impact statement for our Mt. Todd gold project, which we believe remains on track for approval in the third quarter of 2014. We anticipate holding our customary quarterly conference call once we have received approval of the Mt. Todd environmental impact statement."

Summary of second quarter 2014 financial results

The company reported a net loss of $2.9-million, or four cents per share, for the three months ended June 30, 2014. This includes an unrealized $600,000 mark-to-market loss on the company's investment in Midas Gold Corp. During the three months ended June 30, 2013, the company reported net loss of $21.2-million, or 26 cents per share. The 2013 results included a $18.5-million unrealized loss on the investment in Midas.

Expenditures for exploration and property holding costs, principally at the Mt. Todd gold project, totalled $1.0-million for the three months ended June 30, 2014, down approximately 83 per cent from $5.9-million for the same period in 2013 when costs included cash intensive programs such as the prefeasibility study and preparation of the final environmental impact statement for the Mt. Todd gold project. In addition, several cost-cutting measures were introduced at Mt. Todd during the latter half of 2013, and the company continues to identify and implement cost-cutting measures at the Mt. Todd gold project.

Corporate cost reduction measures have also successfully been implemented. Corporate general and administrative costs totalled $1.1-million for the three months ended June 30, 2014, down from $1.2-million for the same period in 2013.

Working capital at March 31, 2014, totalled approximately $14.2-million, including cash of approximately $5.7-million. The company has no debt.

To review the company's quarterly report on Form 10-Q for the three months ended June 30, 2014, including the related management's discussion and analysis, visit SEDAR, EDGAR or the company's website.

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