Mr. Fred Earnest reports

VISTA GOLD CORP. ANNOUNCES APPROVAL OF MT TODD ENVIRONMENTAL IMPACT STATEMENT

Vista Gold Corp.'s environmental impact statement for the Mt Todd gold project located in the Northern Territory of Australia has been approved. The EIS has been the subject of an exhaustive review process by the Northern Territory Environmental Protection Authority, which included public consultation. In its formal notification to the company, the NT EPA has advised that it has assessed the environmental impacts of the Mt Todd gold mine and concluded that it can proceed, subject to a number of recommendations, which are outlined in the assessment report.

Fred Earnest, Vista's president and chief executive officer, commented: "We are pleased with the accomplishment of this significant milestone. This marks the conclusion of a rigorous environmental risk assessment and review process that started in 2011. Vista now has a key legal entitlement required to move forward with the Mt Todd gold project at the appropriate time."

Mr. Earnest added: "With the successful completion of the EIS process, the permitting risk is substantially reduced, and the development timeline at Mt Todd is well defined. This sets Mt Todd apart from most other large undeveloped gold projects. Our next steps will focus on obtaining the necessary approvals under the Environmental Protection and Biodiversity Conservation Act 1999 from the federal government (as it relates to the Gouldian Finch) and then turn our efforts to obtaining the mine operating permit from the NT Department of Mines and Energy. Because the EIS was based on a 50,000-tonne-per-day operation and thus the largest possible impact, we have the flexibility to scale the project down initially, if the economics of a smaller project prove to be more compelling, and undertake an expansion of the project at a later date, if justified. Our plan is to continue to evaluate opportunities to optimize and improve the Mt Todd gold project pending an improved gold price that will allow us to seek to develop the project and potentially achieve the economic returns that our shareholders expect."

The company has started planning for the submission of the documents required for the authorization required under the EPBC Act and for the approval of the MMP. The NT EPA assessment report includes 28 recommendations, which are to be addressed as part of the MMP. Included in these recommendations are four that relate directly to the Gouldian Finch. Vista estimates that authorization under the EPBC Act will require three to four months from the submission of documents, and that approval of the MMP will require approximately six months from the submission of the plan. At this time, Vista intends to undertake studies in the second quarter of 2015 for the EPBC Act authorization. Preparation of the MMP will continue internally, and the company plans to have it ready to submit when there are signs of a sustained recovery in the gold market.

Management conference call

A conference call with management to discuss the significance of the approval of the Mt Todd EIS and to provide an update on corporate and project activities is scheduled for Friday, Sept. 12, 2014, at 9:30 a.m. MDT.

Toll-free in North America:  1-866-233-5249

International:  416-642-3300

This call will also be webcast and can be accessed on-line.

This call will be archived and available at the company's website after Sept. 12, 2014. Audio replay will be available for 21 days by calling toll-free in North America: 1-866-245-6755, passcode 354468.

If you are unable to access the audio or phone in on the day of the conference call, please e-mail questions to Connie Martinez, manager, investor relations, and the company will try to address these questions prior to or during the conference call.

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