Ms. Pamela Solly reports

VISTA GOLD CORP. ANNOUNCES RECEIPT OF THE $3 MILLION FIRST INSTALLMENT PAYMENT UNDER WHEATON PRECIOUS METALS ROYALTY

Vista Gold Corp.'s wholly owned subsidiary, Vista Gold Australia Pty. Ltd. (Vista Australia), has received the first instalment payment of $3-million under the royalty agreement between Vista Australia and Wheaton Precious Metals (Cayman) Co., an affiliate of Wheaton Precious Metals Corp., dated Dec. 13, 2023, in relation to the company's Mt. Todd gold project located in Northern Territory, Australia. All dollar amounts in this news release are in United States dollars.

The first instalment is part of the $20-million royalty with Wheaton, which will be used to advance Mt. Todd and for general corporate purposes. The remaining two instalment payments are expected in the first half of 2024 and are subject to approval from the Australian government Foreign Investment Review Board. The principal terms of the royalty agreement are as described in the company's news release dated Dec. 14, 2023.

About Vista Gold Corp.

Vista is a gold project developer. The company's flagship asset is the Mt. Todd gold project, located in the mining-friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 kilometres southeast of Darwin, Mt. Todd is one of the largest and most advanced undeveloped gold projects in Australia, and has the potential to be one of the top five gold producers in Australia. All major environmental and operating permits necessary to allow development of Mt. Todd are in place.

Mt. Todd benefits from its location in a leading mining jurisdiction and demonstrates multiple opportunities to add value through growth of mineral resources, staged development, and other value-adding and derisking activities.

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