Mr. Bruce Durham of Solvista reports

IAMGOLD COMPLETES DRILLING AT SOLVISTA'S CARAMANTA PROJECT AND CONTINUES OPTION AGREEMENT

Solvista Gold Corp. has received notification that Iamgold Corp. has recently completed its 2014 budgeted exploration activities on Solvista's Caramanta project in Colombia.

In addition, Solvista announces that Iamgold has delivered to the company the first option renewal payment of $250,000 (U.S.), pursuant to the option agreement with Iamgold announced by the company on March 17, 2014. Iamgold also informed the company that it met the 2014 required expenditure level under the option agreement. The primary terms of the option agreement between the company and Iamgold were described in the company's press release dated March 17, 2014. Expansion of and changes to that agreement now involving the company, Iamgold and Tolima Gold Inc. were announced in the company's press release dated Sept. 15, 2014.

In order for Iamgold to earn a 51-per-cent interest in the Caramanta project, pursuant to the expanded option agreement, Iamgold must, among other things, spend a minimum of $20-million (U.S.) and make certain option payments to the company. Iamgold may increase its ownership in the project to 70 per cent under the agreement by spending a total of $40-million (U.S.). A more complete summary of the terms is available on SEDAR and on the company's website.

Commenting on the option renewal for 2015 and the work completed by Iamgold, Solvista's president and chief executive officer, Bruce Durham, stated: "We have had the pleasure of working with Iamgold for almost a year now, and we continue to be impressed with the professionalism and hard work completed by their personnel in both Toronto and Colombia. Given the current state of the capital markets, we are very pleased that Iamgold has elected to continue with the option agreement."

Diamond drilling completed by Iamgold tested targets initially discovered and drill tested by Solvista and also newly developed target areas in search of gold and copper mineralization within the company's Caramanta porphyry cluster (CPC).

Highlights

• Iamgold has been working on the Caramanta project since entering into an agreement with Solvista in December, 2013 (press release dated Dec. 18, 2013).
• Initial work beyond compilation of data included expanded stream sediment, soil and rock chip sampling over a variety of areas on the Caramanta property, both inside of and outside of the CPC.
• Geophysical surveys comprised magnetic surveying and induced polarization (IP) surveying carried out to fill in gaps in Solvista's coverage of the CPC.
• Using Solvista's data and the new data, drill targets were selected within the northern half of the CPC, where drill permit could be acquired rapidly.
• Diamond drilling in this first diamond drill program consisted of 3,840 metres in 14 drill holes. The holes were drilled primarily at the Ajiaco Sur, Casa Verde and Malabrigo targets.
• The company will report on the results of the diamond drilling program once it has received all of the assay data from Iamgold.
• Prior to Iamgold's involvement, Solvista made discoveries on the El Reten and Ajiaco Sur targets. Only two holes were completed by Iamgold on the Ajiaco Sur target, and no drilling was carried out on El Reten (see information on DMI (district of integrated management)).

Iamgold exploration plans

Due to the previously announced restrictions within the area referred to as a district of integrated management (see information as follows), which restricts activity in southern half of the CPC (El Reten and Ajiaco Sur), no drilling was carried out by Iamgold on these key target areas during 2014. Prior to entering the option agreement with Iamgold in March, 2014, diamond drilling by Solvista in some of these key target areas returned long drill intervals of copper-gold porphyry-style mineralization. This included El Reten, where drill hole CAD-12-18 assayed 1.01 grams per tonne gold and 0.21 per cent copper over a core length of 456.7 metres.

Iamgold is working to secure a permit to resume drilling within the DMI. Timing of receipt of the permit will dictate the location and sequence of drill holes in the coming 2015 program, which is budgeted at $1.5-million (U.S.).

The scientific and technical information contained in this press release has been reviewed by the company's president and chief executive officer, Bruce Durham, PGeo, who is a qualified person, as such term is defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About the project

The project is located at the centre of the Middle Cauca belt, one of the most prolific gold districts in Colombia, with production dating back to precolonial times. The Middle Cauca belt has been the focus of intense exploration over the past five years with a number of new discoveries, including La Colosa (Anglogold Ashanti), a porphyry-gold deposit with a JORC-compliant inferred resource of 24.15 million ounces gold at 0.94 gram per tonne gold. Directly south of the project is Gran Colombia Gold's Marmato project with NI 43-101-compliant measured and indicated resources of 11.8 million ounces gold at 0.9 gram per tonne gold and 80 million ounces silver at 6.1 grams per tonne silver, and inferred resources of 2.6 million ounces gold at 1.02 grams per tonne gold and nine million ounces silver at 3.7 grams per tonne silver. To the north of the project is Sunward Resources' Titiribi deposit, where an NI 43-101-compliant measured and indicated resource of 6.2 million ounces gold equivalent and inferred resource of 6.5 million ounces gold equivalent have been announced (based on information from public sources).

District of integrated management (DMI)

Three of the Caramanta project's multiple targets (El Reten, El Corral and Ajiaco Sur) are located within a regional environmental designation referred to as a district of integrated management (DMI). Under the terms of the DMI, there is currently a prohibition against open-pit mining within the DMI. Iamgold has filed an application with the regional environmental authority, Corantioquia, requesting permission to carry out drilling within the DMI. It is uncertain when permission will be granted or whether Corantioquia will request further environmental studies prior to considering further the application. At this time, the original effort by Solvista to remove the DMI designation has been stopped. That effort will not be restarted until more is known about the ultimate potential footprint of a development in the CPC.

Under the option agreement, Iamgold had the right to declare force majeure on the first anniversary date should it not have received permission to drill within the DMI. The parties agreed to terms for an amendment now in preparation that allows Iamgold to continue exploration activities on the project and delay a decision to declare force majeure. The principal terms halve the year two minimum work expenditure to $1.5-million (U.S.) and extend the term of the first option by a year to six years.

We seek Safe Harbor.