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UPDATE: Vista Gold Gives Up Yesterday's Gains After Australia and Mexico Update

Vista Gold Corp. (VGZ.TO) gave up its gains from yesterday and is now in the red, falling nearly 2% to $3.64 from the $3.71 Tuesday close, after providing an update of activities at its Mt. Todd gold project in Northern Territory, Australia, and Guadalupe de los Reyes gold-silver project in Sinaloa, Mexico.

Vista now expects to complete a feasibility study for the Mt. Todd gold project in the first quarter of 2012 and will announce the results as soon as they are available. Recently completed metallurgical testing has resulted in further process improvement and optimization. Additional metallurgical testing is being undertaken to assess the recovery and economic results of the newly optimized operating parameters on a series of samples representative of the Mt. Todd deposit.

On Mt. Todd core drilling, Vista said it currently has two core rigs drilling at the Batman deposit. As announced on November 7, 2011, Vista is undertaking a 8,500 meter program with the goal of re-classifying part of the estimated inferred resources lying close to or within the limits of the feasibility study pit shape to measured and indicated resources. As of this date 1,585 meters have been drilled in 3 drill holes. This drilling program is expected to continue through the first quarter of 2012.

Drilling at the Guadalupe de los Reyes gold-silver project is progressing well. As previously announced, this program is designed to accomplish two objectives: 1) obtain core for metallurgical testing from the stockwork portion of the deposits that is the host for the project's currently reported estimated mineral resources, and 2) test the potential for high gold grades and bonanza silver grades in the underlying low-sulfidation epithermal vein systems. Thus far, a total of 1,118 meters have been drilled in 8 diamond core holes. Core from the first 6 holes has been logged, cut and shipped to ALS Chemex in Hermosillo, Mexico, for sample preparation. Vista expects to announce the first assay results in the first quarter 2012.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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