Ms. Pamela Solly reports

VISTA GOLD CORP. ANNOUNCES RECEIPT OF THE $7 MILLION SECOND INSTALMENT PAYMENT UNDER WHEATON PRECIOUS METALS ROYALTY

Vista Gold Corp.'s wholly owned subsidiary, Vista Gold Australia Pty. Ltd., has received the second-instalment payment of $7-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 Mount Todd gold project, located in Northern Territory, Australia. All dollar amounts in this news release are in U.S. dollars.

The Second Instalment is part of the $20 million royalty with Wheaton, which will be used to advance Mt Todd and for general corporate purposes. Receipt of the Second Instalment followed satisfaction of certain conditions precedent to this instalment, which included approval from the Australian government Foreign Investment Review Board, registration of security interests pursuant to a general security deed between Vista Australia and Wheaton, providing for, among other things, a mortgage on the mineral tenements that comprise Mt Todd, and satisfaction of other customary conditions, representations and warranties. The final instalment of $10 million is to be received six months from the date of the first instalment provided Vista Australia has commenced a designated drilling program at Mt Todd and satisfied other customary conditions, representations and warranties. The principal terms of the Royalty Agreement are as described in the Company's news release dated December 14, 2023. See News Release.

About Vista Gold Corp.

Vista is a gold project developer. The Company's flagship asset is Mt Todd, located in the mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is one of the largest development stage opportunities in Australia and demonstrates compelling economics. All major environmental and operating permits necessary to initiate 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 de-risking activities.

We seek Safe Harbor.