Ms. Connie Martinez reports

VISTA GOLD CORP. ANNOUNCES SECOND QUARTER 2016 RESULTS

Vista Gold Corp. has released its unaudited financial results for the second quarter ended June 30, 2016. Management's quarterly conference call to discuss these results is scheduled for 2:30 p.m. Mountain Daylight Time on Aug. 10, 2016. 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 on Aug. 1, 2016, with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities. All dollar amounts in this press release are U.S. dollars.

Summary of second quarter 2016 financial results

The company reported net income of $1.6-million or two cents per share for the three months ended June 30, 2016. This includes an unrealized $3.3-million mark-to-market gain on the company's investment in Midas Gold Corp., offset by $1.7-million of operating expenses and other expenses. During the three months ended June 30, 2015, the company reported net income of $3.6-million or four cents per share. This included a $5.9-million payment received from the Australian government under a research and development incentive program; an unrealized $300,000 mark-to-market loss on the company's investment in Midas; and $2.0-million in operating expenses.

The company's working capital at June 30, 2016, totalled approximately $16.0-million, including cash and short-term investments (comprising government securities) of approximately $10.3-million. The company has no debt.

To review the company's quarterly report on Form 10-Q for the three and six months ended June 30, 2016, 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 June 30, 2016, and to discuss corporate and project activities is scheduled for Wednesday, Aug. 10, 2016, at 2:30 p.m. MDT.

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

International:   416-642-3300

This call will be archived and available at the company's website after Aug. 10, 2016. Audio replay will be available for 21 days by calling toll-free in North America: 1-888-203-1112, pass code 5515432.

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.