Ms. Connie Martinez reports

VISTA GOLD CORP. ANNOUNCES SECOND QUARTER 2017 RESULTS AND RECENT CORPORATE HIGHLIGHTS

Vista Gold Corp. has released its unaudited financial results for the second quarter ended June 30, 2017 (all amounts are in U.S. dollars). Management's quarterly conference call to discuss these results is scheduled for 2:30 p.m. MT on Aug. 9, 2017. 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. 4, 2017, with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Summary of second quarter 2017 financial results

The company reported a net loss of $2.7-million or three cents per share for the three months ended June 30, 2017. This includes $2.2-million of net operating expenses and an unrealized $500,000 mark-to-market loss on the company's investment in Midas Gold Corp. During the three months ended June 30, 2016, the company reported net income of $1.6-million or two cents per share inclusive of $1.7-million of net operating expenses and an unrealized $3.3-million mark-to-market gain on the company's investment in Midas.

The company's working capital at June 30, 2017, totalled approximately $23.6-million, including cash and short-term investments (comprised of government securities) of approximately $20.2-million. The company has no debt.

Corporate highlights

The company continues to undertake activities to improve value and further derisk its Mt. Todd gold project, including:

• Bulk metallurgical testing -- The company recently completed crushing, screening and automated sorting tests on four five-tonne bulk samples from the Batman deposit. These bulk tests demonstrated that automated sorting technology can be used to efficiently separate plus five-eighths-inch (16 millimetres) product from the HPGR crusher with gold-bearing sulphide/quartz/calcite minerals from the host rock, at production rates in production scale equipment.
• Grinding and leaching optimization studies -- The company is undertaking additional metallurgical testing to confirm gold recoveries with a proposed two-stage grinding circuit and a finer grind size (P80 of 65 microns versus the 90 microns in the original prefeasibility study).
• PFS update -- The company has commenced an update of the Mt. Todd preliminary feasibility study in which it intends to include all appropriate project improvements and the most current economic factors.
• Mine management plan (MMP) update -- The company is nearing the completion of the preparation of a draft mine management plan and expects to present this plan for preliminary agency review later this year. This is expected to reduce the approval time for the final MMP.

To review the company's quarterly report on Form 10-Q for the three months ended June 30, 2017, including the related management's discussion and analysis, visit any of the following websites: SEDAR, EDGAR 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, 2017, and to discuss corporate and project activities is scheduled for Wednesday, Aug. 9, 2017, at 2:30 p.m. MT.

Toll-free in North America:  1-800-533-7619

International:  785-830-1923

This call will also be webcast on-line.

This call will be archived and available at the company's website after Aug. 9, 2017. Audio replay will be available for 21 days by calling toll-free in North America 1-888-203-1112, passcode 4965655.

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 (e-mail: connie@vistagold.com), and the company will try to address these questions prior to or during the conference call.

About Vista Gold Corp.

The company is a well-financed gold project developer. The company's principal asset is its flagship Mt. Todd gold project in Northern Territory, Australia. Mt. Todd is one of the largest undeveloped gold projects in Australia.

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