Mr. Frederick Earnest reports

VISTA GOLD CORP. ANNOUNCES THIRD QUARTER 2015 RESULTS

Vista Gold Corp. has released its unaudited financial results for the third quarter ended Sept. 30, 2015. Management's quarterly conference call to discuss these results is scheduled for 2:30 p.m. MST on Nov. 9, 2015. 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.

All dollar amounts in the press release are U.S. dollars.

Summary of third quarter 2015 financial results

The company reported net income of $500,000 or one cent per share for the three months ended Sept. 30, 2015. This includes a $4.4-million payment received from the Australian government under a research and development incentive program for costs incurred in the 2013 fiscal year; an unrealized $600,000 mark-to-market loss on its investment in Midas Gold Corp.; $2.9-million of operating expenses; and $300,000 foreign exchange loss (resulting from the weaker Australian dollar). During the three months ended Sept. 30, 2014, the company reported a net loss of $4.9-million or six cents per share inclusive of an unrealized $3.8-million mark-to-market loss on its investment in Midas and $1.1-million of operating expenses.

The company's working capital as at Sept. 30, 2015, totalled approximately $16-million, including cash and short-term investments (comprising government securities) of approximately $14.7-million. The company has no debt.

Frederick H. Earnest, president and chief executive officer, commented: "We have worked hard to ensure the company remains funded without diluting our shareholders, and I am enthusiastic about our success and the opportunities it affords us. With our improved balance sheet, we believe we are able to fund our currently planned activities into 2018, and we still have opportunities to access additional financing from non-dilutive sources such as the sale of our used mill equipment and the monetization of our other non-core assets. Having effectively addressed our liquidity needs at this time, we are now able to shift our team's focus from basic survival tactics to value creation strategies that could better position the Mount Todd gold project for fast-track development when economic conditions permit, and to judiciously evaluate and pursue other near-term value creating opportunities."

To review the company's quarterly report on Form 10-Q for the three months ended Sept. 30, 2015, including the related management's discussion and analysis, visit SEDAR or the company's website.

Management conference call

A conference call with management to review the company's financial results for the three months ended Sept. 30, 2015, and to discuss corporate and project activities is scheduled for Monday, Nov. 9, 2015, at 2:30 p.m. MST.

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

International:  416-642-3300

This call will be archived and available on the company's website after Nov. 9, 2015. Audio replay will be available for 21 days by calling toll-free in North America: 1-866-245-6755, passcode 279138.

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 of investor relations (e-mail: connie@vistagold.com).

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