<SEC-DOCUMENT>0000783324-15-000016.txt : 20150305
<SEC-HEADER>0000783324-15-000016.hdr.sgml : 20150305
<ACCEPTANCE-DATETIME>20150305172705
ACCESSION NUMBER:		0000783324-15-000016
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150305
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150305
DATE AS OF CHANGE:		20150305

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISTA GOLD CORP
		CENTRAL INDEX KEY:			0000783324
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			B0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09025
		FILM NUMBER:		15678436

	BUSINESS ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
		BUSINESS PHONE:		720-981-1185

	MAIL ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES INC
		DATE OF NAME CHANGE:	19950602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES EXPLORATION LTD
		DATE OF NAME CHANGE:	19890619
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>vgz-20150305x8k.htm
<DESCRIPTION>8-K
<TEXT>
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			vgz - 20150305 - 2014 FY results 8K
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			<a name="A001"></a><a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:10pt;">UNITED STATES</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;">SECURITIES AND EXCHANGE COMMISSION</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;">WASHINGTON, D.C. 20549</font><font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;">_________________ </font>
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			<a name="A003"></a><font style="display: inline;font-weight:bold;">FORM 8-K</font><font style="display: inline;">&nbsp;</font>
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			<a name="A004"></a><font style="display: inline;font-weight:bold;">CURRENT REPORT</font><font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">Pursuant to Section 13 or 15(d) of the </font><br /><font style="display: inline;font-size:10pt;">Securities Exchange Act of 1934 </font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Date of Report: </font><font style="display: inline;font-weight:bold;font-size:10pt;">March 3</font><font style="display: inline;font-weight:bold;font-size:10pt;">, 201</font><font style="display: inline;font-weight:bold;font-size:10pt;">5</font>
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			<font style="display: inline;font-size:10pt;">(Date of earliest event reported)</font>
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			<a name="A006"></a><font style="display: inline;font-weight:bold;font-size:13.5pt;">VISTA GOLD CORP. </font><br /><font style="display: inline;font-weight:bold;font-size:13.5pt;"></font><font style="display: inline;font-size:10pt;">(Exact Name of Registrant as Specified in Charter) </font>
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			<a name="A007"></a><font style="display: inline;font-weight:bold;font-size:10pt;">British Columbia</font><font style="display: inline;font-weight:bold;font-size:10pt;">, Canada </font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(State or Other Jurisdiction of Incorporation) </font>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">1-9025</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(Commission File Number) </font></p>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">Not Applicable</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(IRS Employer Identification No.) </font></p>
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			<br /><font style="display: inline;"></font><a name="A009"></a><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:10pt;">7961 Shaffer parkway, suite 5, littleton, colorado 80127</font>
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			<font style="display: inline;font-size:10pt;">(Address of Principal Executive Offices and Zip Code)</font>
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			<font style="display: inline;font-size:10pt;">Registrant&#x2019;s telephone number, including area code:&nbsp;&nbsp; </font><font style="display: inline;font-weight:bold;font-size:10pt;">(720) 981-1185</font>
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			<a name="A011"></a><font style="display: inline;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font><a name="A012"></a>
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						<font style="display: inline;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
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						<font style="display: inline;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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						<font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
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						<font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Item </font><font style="display: inline;font-weight:bold;font-size:10pt;">2</font><font style="display: inline;font-weight:bold;font-size:10pt;">.0</font><font style="display: inline;font-weight:bold;font-size:10pt;">2</font><font style="display: inline;font-weight:bold;font-size:10pt;"> &nbsp; &nbsp;</font><font style="display: inline;font-weight:bold;font-size:10pt;">Results of Operation and Financial Condition</font>
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			<font style="display: inline;color:#000000;font-size:10pt;">On March 3, 2015</font><font style="display: inline;color:#000000;">, &nbsp;</font><font style="display: inline;font-size:10pt;">the registrant p</font><font style="display: inline;font-size:10pt;">rovided an overview of the Company&#x2019;s recent operating highlights and selected financial results for the year ended December 31, 2014.&nbsp;&nbsp;The Company&#x2019;s full financial results can be found in the Company&#x2019;s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the &#x201C;SEC&#x201D;) and the Canadian securities regulatory authorities on March 3, 2015. </font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Recent Highlights:</font>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;font-size:10pt;;"> &#xB7;</font>
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			<font style="display: inline;font-family:Times New Roman;color:#000000;font-size:10pt;">Received $3.0 million to complete the sale of the Los Cardones gold project; </font></p></td></tr></table></div>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:10pt;;"> &#xB7;</font>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 10pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;font-size:10pt;color:#000000;">Completed an agreement to sell up to&nbsp;&nbsp;8 million of our shares in Midas Gold Corp.(&#x201C;Midas&#x201D;) for aggregate net proceeds of approximately $2.8 million (the &#x201C;Midas Sale&#x201D;); </font></p></td></tr></table></div>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:10pt;;"> &#xB7;</font>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 10pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;font-size:10pt;color:#000000;">Received $0.5 million option payment from Cangold Limited; and&nbsp; </font></p></td></tr></table></div>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;color:#000000;font-size:10pt;;"> &#xB7;</font>
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			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;font-size: 10pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;font-size:10pt;color:#000000;">Continued to bring costs down while meeting environmental, safety and regulatory requirements. </font></p></td></tr></table></div>
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			<font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font>
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			<font style="display: inline;color:#000000;font-size:10pt;">Frederick H. Earnest, President and Chief Executive Off</font><font style="display: inline;color:#000000;font-size:10pt;">icer, commented, &#x201C;2014 was a pivotal year in the financial stability of the Company. Consistent with our stated strategy, we continued to fund the Company without dilution and paid off our debt well ahead of schedule.&nbsp;&nbsp;As a result of our cash on hand and the successful cost cutting measures which we implemented in 2013, which continue in effect, we believe we&nbsp;&nbsp;are now funded through most of 2016.&nbsp;&nbsp;We remain focused on our Mt Todd gold project in Australia, where continued weakness in many macro-economic factors provides positive offsets to the lower gold price.&nbsp;&nbsp;We are analyzing these factors and anticipate that they will have a net positive effect on the economics of the project. We are well positioned to continue to weather the present gold markets and expect to be able to continue to fund the Company through most of 2016 without the need to raise capital in the equity markets in the current market conditions.&nbsp;&nbsp;I believe our Mt Todd gold project is uniquely positioned to move forward quickly in an environment of sustained gold market improvement.&#x201D; </font>
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		<p style="margin:5pt 0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">Summary of 2014 Financial Results </font>
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			<font style="display: inline;color:#000000;font-size:10pt;">We reported a net loss of $18.9 million or $0.23 per share for the year ended December 31, 2014.&nbsp;&nbsp;This includes an unrealized $4.3 million mark-to-market loss on our investment in Midas, and a non-cash $4.8 million write-down of interest in the Amayapampa project in Bolivia.&nbsp;&nbsp;During the year ended December 31, 2013, we reported a net loss of $59.5 million, or $0.73 per share.&nbsp; </font>
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		<p style="margin:5pt 0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Expenditures for exploration and property holding costs, principally at our Mt Todd gold project, were down approximately 74% from 2013. In 2014, we eliminated all material discretionary programs and continued the cost cutting initiatives introduced in 2013.&nbsp;&nbsp;In early 2013, we completed several cash intensive programs such as water treatment and the prefeasibility study for the Mt. Todd gold project, and introduced several significant cost cutting measures, including staff reductions and compensation reductions at the Mt Todd gold project. Similarly, at the corporate level, we continued the cost cutting initiatives introduced in 2013, resulting in a 31% reduction in 2014 corporate costs from 2013 levels.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:5pt 0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Our working capital at December 31, 2014 totaled approximately $8.6 million, including cash of approximately $3.7 million. After giving effect to the cash received in January as a result of the finalization of the Los Cardones sale and the option payment received from Cangold Limited in February, together with the cash to be received from the Midas Sale, our pro forma working capital increases to approximately $15.0 million, including approximately $10.0 million of cash.&nbsp; </font>
		</p>
		<p style="margin:5pt 0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">To review the Company's Annual Report on Form 10-K for the year ended December 31, 2014, including the related Management's Discussion and Analysis, visit any of the following websites: </font><font style="display: inline;color:#0033CC;font-size:10pt;text-decoration:underline;">www.sedar.com</font><font style="display: inline;color:#000000;font-size:10pt;">, &nbsp;</font><font style="display: inline;color:#0033CC;font-size:10pt;text-decoration:underline;">www.sec.gov</font><font style="display: inline;color:#000000;font-size:10pt;"> or </font><font style="display: inline;color:#0033CC;font-size:10pt;text-decoration:underline;">www.vistagold.com</font><font style="display: inline;color:#000000;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">

		</p>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">

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</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-weight:bold;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">Management Conference Call</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">A conference call with management to review our financial results for the fiscal year ended December 31, 2014 and to discuss corporate and project activities is scheduled for Friday, March 6, 2015 at 9:00 a.m. MST.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">Toll-free in North America: 1-866-233-5249 </font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">International:&nbsp;&nbsp;416-642-3300</font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">This call will also be web-cast and can be accessed at the following web location:</font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:justify;text-justify:inter-ideograph;color:#3072C2;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#3072C2;font-size:10pt;">&nbsp;</font><font style="display: inline;color:#3072C2;font-size:10pt;">http://event.on24.com/r.htm?e=960286&amp;s=1&amp;k=34B049C9DCF220CC21DEB10F316F126D</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">This call will be archived and available at </font><font style="display: inline;color:#0033CC;font-size:10pt;">www.vistagold.com</font><font style="display: inline;font-size:10pt;"> after March 6, 2015.&nbsp;&nbsp;Audio replay will be available for 21 days by calling toll-free in North America:&nbsp;&nbsp;1-866-245-6755, passcode 339376.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">If you are unable to access the audio or phone-in on the day of the conference call, please email questions to Connie Martinez, Manager &#x2013; Investor Relations (email: </font><font style="display: inline;color:#2A1DD5;font-size:10pt;">connie</font><font style="display: inline;color:#0033CC;font-size:10pt;">@vistagold.com</font><font style="display: inline;font-size:10pt;">), and we will try to address these questions prior to or during the conference call.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">All dollar amounts in th</font><font style="display: inline;font-size:10pt;">is</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">report</font><font style="display: inline;font-size:10pt;"> are U.S. dollars.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">This </font><font style="display: inline;font-size:9pt;">report</font><font style="display: inline;font-size:9pt;"> contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.&nbsp;&nbsp;All statements, other than statements of historical facts, included in this </font><font style="display: inline;font-size:9pt;">report</font><font style="display: inline;font-size:9pt;"> that address activities, events or developments that </font><a name="_DV_C81"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">we expect</font><font style="display: inline;font-size:9pt;"> or anticipate will or may occur in the future, including such things as, </font><a name="_DV_C89"></a><font style="display: inline;font-size:9pt;">the closing of the Midas Sale; the Company being funded through most of 2016; the impact that macro-economic factors may have on the economics on the Mt Todd gold project; funding the Company without dilution; and moving the Mt Todd gold project forward quickly when there is sustained improvement in the gold market; </font><font style="display: inline;font-size:9pt;">and other such matters are forward-looking statements and forward-looking information.&nbsp;&nbsp;The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this </font><font style="display: inline;font-size:9pt;">report</font><font style="display: inline;font-size:9pt;"> include the following: our approved business plans, exploration and assay results, mineral resource and reserve estimates and results of preliminary economic assessments, pre-feasibility studies and feasibility studies on our projects, if any.&nbsp;&nbsp;When used in this </font><font style="display: inline;font-size:9pt;">report</font><font style="display: inline;font-size:9pt;">, the words </font><a name="_DV_C95"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201C;</font><a name="_DV_M95"></a><font style="display: inline;font-size:9pt;">optimistic,</font><a name="_DV_C97"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M96"></a><font style="display: inline;font-size:9pt;">potential,</font><a name="_DV_C99"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M97"></a><font style="display: inline;font-size:9pt;">indicate,</font><a name="_DV_C101"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M98"></a><font style="display: inline;font-size:9pt;">expect,</font><a name="_DV_C103"></a><font style="display: inline;font-size:9pt;">&#x201D;</font><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;"> &nbsp;&#x201C;</font><a name="_DV_M99"></a><font style="display: inline;font-size:9pt;">intend,</font><a name="_DV_C105"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M100"></a><font style="display: inline;font-size:9pt;">hopes,</font><a name="_DV_C107"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M101"></a><font style="display: inline;font-size:9pt;">believe,</font><a name="_DV_C109"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M102"></a><font style="display: inline;font-size:9pt;">may,</font><a name="_DV_C111"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M103"></a><font style="display: inline;font-size:9pt;">will,</font><a name="_DV_C113"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M104"></a><font style="display: inline;font-size:9pt;">if,</font><a name="_DV_C115"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M105"></a><font style="display: inline;font-size:9pt;">anticipate,</font><a name="_DV_M106"></a><font style="display: inline;font-size:9pt;">&#x201D; and similar expressions are intended to identify forward-looking statements and forward-looking information.&nbsp;&nbsp;These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of </font><a name="_DV_C119"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">the Company</font><a name="_DV_M107"></a><font style="display: inline;font-size:9pt;"> to be materially different from any future results, performance or achievements expressed or implied by such statements.&nbsp;&nbsp;Such factors include, among others, uncertainty of resource </font><a name="_DV_C120"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">and reserve </font><a name="_DV_M108"></a><font style="display: inline;font-size:9pt;">estimates, uncertainty as to the Company&#x2019;s future operating costs and ability to raise capital; </font><a name="_DV_M109"></a><font style="display: inline;font-size:9pt;">risks relating to cost increases for capital and operating costs; </font><a name="_DV_M111"></a><font style="display: inline;font-size:9pt;">risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on </font><a name="_DV_C129"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">our</font><a name="_DV_M112"></a><font style="display: inline;font-size:9pt;"> operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings </font><a name="_DV_C131"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201C;</font><a name="_DV_M113"></a><font style="display: inline;font-size:9pt;">Note Regarding Forward-Looking Statements</font><a name="_DV_C133"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D;</font><a name="_DV_M114"></a><font style="display: inline;font-size:9pt;"> and </font><a name="_DV_C135"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201C;</font><a name="_DV_M115"></a><font style="display: inline;font-size:9pt;">Risk Factors</font><a name="_DV_C137"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D;</font><a name="_DV_M116"></a><font style="display: inline;font-size:9pt;"> in </font><a name="_DV_C139"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">the Company&#x2019;</font><a name="_DV_M117"></a><font style="display: inline;font-size:9pt;">s latest Annual Report on Form 10-K as filed on March </font><font style="display: inline;font-size:9pt;">3</font><font style="display: inline;font-size:9pt;">, 2015 </font><a name="_DV_M118"></a><font style="display: inline;font-size:9pt;">and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.&nbsp;&nbsp;Although </font><a name="_DV_C143"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">we have</font><a name="_DV_M119"></a><font style="display: inline;font-size:9pt;"> attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.&nbsp;&nbsp;Except as required by law, </font><a name="_DV_C145"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">we assume</font><a name="_DV_M120"></a><font style="display: inline;font-size:9pt;"> no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.</font>
		</p>
		<p style="margin:3.75pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02 shall not be deemed to be &#x201C;filed&#x201D; for purposes of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. </font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">Item 7.01&nbsp;&nbsp;Regulation FD</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">On March </font><font style="display: inline;font-size:10pt;">3, 2015</font><font style="display: inline;font-size:10pt;">, the Registrant issued a press release </font><font style="display: inline;font-size:10pt;">providing </font><font style="display: inline;font-size:10pt;">an overview of the Company&#x2019;s recent operating highlights and selected financial results for the year ended December 31, 201</font><font style="display: inline;font-size:10pt;">4</font><font style="display: inline;font-size:10pt;">.</font><font style="display: inline;font-size:10pt;"> &nbsp; &nbsp;</font><font style="display: inline;font-size:10pt;">A copy of the press </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

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		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">

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</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-size:10pt;">release is attached to this report as Exhibit&nbsp;99.1. In accordance with General Instruction B.2 of Form&nbsp;8-K, the information set forth herein and in the press release is deemed to be &#x201C;furnished&#x201D; and shall not be deemed to be &#x201C;filed&#x201D; for purposes of the Securities Exchange Act of 1934, as amended and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.&nbsp;&nbsp;The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality of any information in this report on Form&nbsp;8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">Item </font><font style="display: inline;font-weight:bold;font-size:10pt;">9.01&nbsp;&nbsp;Exhibits</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Exhibit No.</font><font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Description</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">99.1</font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">Press Release dated </font><font style="display: inline;font-size:10pt;">March </font><font style="display: inline;font-size:10pt;">3, 2015</font><font style="display: inline;font-size:10pt;">*</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">*The Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.</font>
		</p>
		<p style="margin:5pt 0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">SIGNATURES</font><font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:5pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">&nbsp;</font>
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						<font style="display: inline;font-size:10pt;">Arch </font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp; &nbsp;</font></p>
				</td>
				<td valign="top" style="width:50.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;font-size:10pt;">VISTA GOLD CORP.</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(Registrant) </font></p>
				</td>
			</tr>
			<tr style="CellSpacing:0;">
				<td valign="top" style="width:50.00%;padding:0pt;">
					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Dated:&nbsp;March 5, 2015</font></p>
				</td>
				<td valign="top" style="width:50.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">By: </font><font style="display: inline;font-size:10pt;text-decoration:underline;"> /s/John F. Engele</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">John F. Engele</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Chief Financial Officer</font></p>
				</td>
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		</table></div>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<br /><font style="display: inline;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">EXHIBIT INDEX</font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Exhibit No.</font><font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Description</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">99.1</font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">Press Release dated March 3, 2015*</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">*The Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.</font>
		</p>
		<p style="margin:0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>vgz-20150305ex991496644.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!--HTML document created with Rivet Software Powered by Crossfire 5.11.100.0-->
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		<title>
			vgz - 2015.03.05 - 2014 FY results EX99.1
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	</head>
	<body><div style="margin-left:50pt;margin-right:54pt;">
		<p style="margin:0pt;text-align:right;line-height:115%;font-family:Calibri;font-size: 11pt">
			<a name="_GoBack"></a><font style="display: inline;font-family:Times New Roman;font-weight:bold;">EXHIBIT 99.1</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width:522.90pt;margin-left:0pt;font-family:Times New Roman;">
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					<p style="margin:0pt;line-height:115%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						<font style="display: inline;font-size:10pt;"><img src="vgz-20150305ex991496644g001.jpg" style="width: 1.572917in; height: 1.010417in" alt="g115341mmi001.jpg"></font></p>
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				<td rowspan="2" valign="bottom" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:148.50pt;height:25.45pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">7961 Shaffer Parkway </font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Suite 5</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Littleton, CO&nbsp;&nbsp;80127</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Phone:&nbsp;&nbsp;720-981-1185</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720-981-1186</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Trading Symbol:&nbsp; </font><font style="display: inline;font-weight:bold;font-size:10pt;">VGZ </font></p>
					<p style="margin:0pt;line-height:115%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-weight:bold;font-size:10pt;">Toronto and NYSE MKT Stock Exchanges</font></p>
				</td>
			</tr>
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		<p style="margin:0pt 0pt 10pt;line-height:115%;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display: inline;;font-size: 11pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Times New Roman;"></font><font style="display: inline;font-family:Times New Roman;;font-size: 11pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Times New Roman;"></font><font style="display: inline;font-family:Times New Roman;;font-size: 11pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Times New Roman;"></font><font style="display: inline;font-family:Times New Roman;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 396pt;line-height:100%;text-indent:52.6pt;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 24pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;">__________________</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;"> NEWS _______________</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;">__</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Cambria;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:center;line-height:115%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Vista Gold Corp. Announces 201</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">4</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;"> Results and Provides Update on Recent Activities</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">Denver, Colorado, March </font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">3</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">, 201</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">5</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;"> - </font><font style="display: inline;font-family:Times New Roman;color:#000000;">Vista Gold Corp. (the &#x201C;Company,&#x201D; &#x201C;we&#x201D; or &#x201C;our&#x201D;) (NYSE MKT and TSX: VGZ) today announced its audited financial results and highlights for the fiscal year ended December 31, 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">4</font><font style="display: inline;font-family:Times New Roman;color:#000000;">. Management's quarterly conference call to discuss these results is scheduled for </font><font style="display: inline;font-family:Times New Roman;color:#000000;">9:0</font><font style="display: inline;font-family:Times New Roman;color:#000000;">0 &nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">a.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">m. M</font><font style="display: inline;font-family:Times New Roman;color:#000000;">S</font><font style="display: inline;font-family:Times New Roman;color:#000000;">T on March </font><font style="display: inline;font-family:Times New Roman;color:#000000;">6</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">5</font><font style="display: inline;font-family:Times New Roman;color:#000000;">. The Company&#x2019;s full audited financial statements, Management's Discussion and Analysis together with other important disclosures can be found in the Company's Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">Recent Highlights:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">Received</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> $3.0 million to complete the sale of the Los Cardones gold project</font><font style="display: inline;font-family:Times New Roman;color:#000000;">;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">Completed </font><font style="display: inline;font-family:Times New Roman;color:#000000;">an agreement to sell up to </font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">8</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million </font><font style="display: inline;font-family:Times New Roman;color:#000000;">o</font><font style="display: inline;font-family:Times New Roman;color:#000000;">f our </font><font style="display: inline;font-family:Times New Roman;color:#000000;">shares in </font><font style="display: inline;font-family:Times New Roman;color:#000000;">Midas</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> Gold Corp.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">(&#x201C;Midas&#x201D;)</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">for aggregate net proceeds of </font><font style="display: inline;font-family:Times New Roman;color:#000000;">approximately $</font><font style="display: inline;font-family:Times New Roman;color:#000000;">2</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.8 million</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> (the &#x201C;Midas Sale&#x201D;)</font><font style="display: inline;font-family:Times New Roman;color:#000000;">;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">Received $0.5 million option payment from Cangold Limited; </font><font style="display: inline;font-family:Times New Roman;color:#000000;">and</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;color:#000000;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">Continued to bring costs down while meeting environmental, safety and regulatory requirements</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:6pt 0pt 6pt 36pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">Frederick H. Earnest, President and Chief Executive Off</font><font style="display: inline;font-family:Times New Roman;color:#000000;">icer, commented</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, &nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&#x201C;2014 was a pivotal year in the financial stability of the Co</font><font style="display: inline;font-family:Times New Roman;color:#000000;">mpany</font><font style="display: inline;font-family:Times New Roman;color:#000000;">. Consistent with our stated strategy, we continued to fund the </font><font style="display: inline;font-family:Times New Roman;color:#000000;">C</font><font style="display: inline;font-family:Times New Roman;color:#000000;">ompany without dilution and paid off our debt well ahead of schedule.&nbsp;&nbsp;As a result of</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> our cash on hand and</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> the successful cost cutting measures which we implemented in 2013</font><font style="display: inline;font-family:Times New Roman;color:#000000;">,</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> which continue in effect, we</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> believe we </font><font style="display: inline;font-family:Times New Roman;color:#000000;"> are now funded through most of 2016.&nbsp;&nbsp;We remain focused on our Mt Todd gold project in Australia, where continued weakness in many macro-economic </font><font style="display: inline;font-family:Times New Roman;color:#000000;">factors</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> provide</font><font style="display: inline;font-family:Times New Roman;color:#000000;">s</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> positive offsets to the lower gold price</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> We are analyzing these factors and anticipate that they will have a net positive effect on the economics of the project. </font><font style="display: inline;font-family:Times New Roman;color:#000000;">We are well positioned to continue to weather the present gold markets and expect to be able to continue to fund the </font><font style="display: inline;font-family:Times New Roman;color:#000000;">C</font><font style="display: inline;font-family:Times New Roman;color:#000000;">ompany </font><font style="display: inline;font-family:Times New Roman;color:#000000;">through most of 2016 </font><font style="display: inline;font-family:Times New Roman;color:#000000;">without the need to raise capital in the equity markets </font><font style="display: inline;font-family:Times New Roman;color:#000000;">in the current market conditions</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.&nbsp;&nbsp;I believe our Mt Todd </font><font style="display: inline;font-family:Times New Roman;color:#000000;">gold </font><font style="display: inline;font-family:Times New Roman;color:#000000;">project is uniquely positioned to move forward quickly in an environment of sustained gold market improvement.&#x201D; </font>
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		<p style="margin:5pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary of 201</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">4</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;"> Financial Results</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&nbsp;</font>
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		<p style="margin:5pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">We reported a net loss of $</font><font style="display: inline;font-family:Times New Roman;color:#000000;">18.9</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million or $0.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">2</font><font style="display: inline;font-family:Times New Roman;color:#000000;">3</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> per share for the year ended December 31, 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">4</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.&nbsp;&nbsp;This includes an unrealized $</font><font style="display: inline;font-family:Times New Roman;color:#000000;">4.3</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million mark-to-market loss on our investment in Midas, </font><font style="display: inline;font-family:Times New Roman;color:#000000;">and a non-cash $4.8 million write-down of </font><font style="display: inline;font-family:Times New Roman;color:#000000;">interest in the Amayapampa project in Bolivia.&nbsp; </font><font style="display: inline;font-family:Times New Roman;color:#000000;">During the year ended December 31, 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">3</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, we reported </font><font style="display: inline;font-family:Times New Roman;color:#000000;">a &nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">net </font><font style="display: inline;font-family:Times New Roman;color:#000000;">loss</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> of $</font><font style="display: inline;font-family:Times New Roman;color:#000000;">59.5</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million, or $0.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">73</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> per share. </font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font>
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		<p style="margin:5pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">E</font><font style="display: inline;font-family:Times New Roman;color:#000000;">xpenditure</font><font style="display: inline;font-family:Times New Roman;color:#000000;">s</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">for exploration and property holding costs, principally at our Mt Todd</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> gold project</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, were down approximately </font><font style="display: inline;font-family:Times New Roman;color:#000000;">74</font><font style="display: inline;font-family:Times New Roman;color:#000000;">% from 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">3</font><font style="display: inline;font-family:Times New Roman;color:#000000;">. &nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">In 2014, we eliminated all material discretionary programs and continued the cost cutting initiatives introduced in 2013.&nbsp; </font><font style="display: inline;font-family:Times New Roman;color:#000000;">In early 2013</font><font style="display: inline;font-family:Times New Roman;color:#000000;">,</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> &nbsp;w</font><font style="display: inline;font-family:Times New Roman;color:#000000;">e completed several cash intensive programs such as water treatment and the prefeasibility study </font><font style="display: inline;font-family:Times New Roman;color:#000000;">for the Mt</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> Todd gold project</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, and introduced </font><font style="display: inline;font-family:Times New Roman;color:#000000;">several significant c</font><font style="display: inline;font-family:Times New Roman;color:#000000;">o</font><font style="display: inline;font-family:Times New Roman;color:#000000;">st cutting measures</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, including staff reductions and compensation reductions</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">at the Mt Todd </font><font style="display: inline;font-family:Times New Roman;color:#000000;">gold </font><font style="display: inline;font-family:Times New Roman;color:#000000;">project</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> Similarly, at the </font><font style="display: inline;font-family:Times New Roman;color:#000000;">corporate</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> level, we continued the cost cutting initiatives introduced in 2013</font><font style="display: inline;font-family:Times New Roman;color:#000000;">,</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> resulting in a 31% reduction in 2014 </font><font style="display: inline;font-family:Times New Roman;color:#000000;">c</font><font style="display: inline;font-family:Times New Roman;color:#000000;">orporate costs </font><font style="display: inline;font-family:Times New Roman;color:#000000;">from 2013 levels. </font><font style="display: inline;font-family:Times New Roman;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:5pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:5pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;;font-size: 11pt"><font style="display: inline;font-family:Times New Roman;color:#000000;">Our working capital at December 31, 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">4</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> totaled approximately $</font><font style="display: inline;font-family:Times New Roman;color:#000000;">8.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">6</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million, including cash of approximately $</font><font style="display: inline;font-family:Times New Roman;color:#000000;">3.7</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million. </font><font style="display: inline;font-family:Times New Roman;color:#000000;">After giving effect to the </font><font style="display: inline;font-family:Times New Roman;color:#000000;">cash received </font><font style="display: inline;font-family:Times New Roman;color:#000000;">in </font><font style="display: inline;font-family:Times New Roman;color:#000000;">January </font><font style="display: inline;font-family:Times New Roman;color:#000000;">as a result of the </font><font style="display: inline;font-family:Times New Roman;color:#000000;">finalization of the Los Cardones sale</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> and</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">the option payment received from Cangold Limited</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">in February, </font><font style="display: inline;font-family:Times New Roman;color:#000000;">together with</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> the cash to be </font><font style="display: inline;font-family:Times New Roman;color:#000000;">received from the </font><font style="display: inline;font-family:Times New Roman;color:#000000;">Midas Sale</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, our pro forma working capita</font><font style="display: inline;font-family:Times New Roman;color:#000000;">l increases to </font><font style="display: inline;font-family:Times New Roman;color:#000000;">approximately </font><font style="display: inline;font-family:Times New Roman;color:#000000;">$</font><font style="display: inline;font-family:Times New Roman;color:#000000;">15</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.0</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> million, including </font><font style="display: inline;font-family:Times New Roman;color:#000000;">approximately </font><font style="display: inline;font-family:Times New Roman;color:#000000;">$</font><font style="display: inline;font-family:Times New Roman;color:#000000;">10.0</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">million of cash.</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:5pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;color:#000000;">To review the Company's Annual Report on Form 10-K for the year ended December 31, 201</font><font style="display: inline;font-family:Times New Roman;color:#000000;">4</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, including the related Management's Discussion and Analysis, visit any of the following websites: </font><font style="display: inline;font-family:Times New Roman;color:#0033CC;text-decoration:underline;">www.sedar.com</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, &nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#0033CC;text-decoration:underline;">www.sec.gov</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> or </font><font style="display: inline;font-family:Times New Roman;color:#0033CC;text-decoration:underline;">www.vistagold.com</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">Management Conference Call</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">A conference call with management to review our financial results for the fiscal year ended December 31, 2014 and to discuss corporate and project activities is scheduled for Friday, March 6, 2015 at 9:00 a.m. MST.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">Toll-free in North America: 1-866-233-5249 </font>
		</p>
		<p style="margin:0pt 0pt 6pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">International:&nbsp;&nbsp;416-642-3300</font>
		</p>
		<p style="margin:0pt 0pt 6pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">This call will also be web-cast and can be accessed at the following web location:</font>
		</p>
		<p style="margin:0pt 0pt 6pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">http://event.on24.com/r.htm?e=960286&amp;s=1&amp;k=34B049C9DCF220CC21DEB10F316F126D</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">This call will be archived and available at </font><font style="display: inline;font-family:Times New Roman;color:#0033CC;">www.vistagold.com</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">after March 6, 2015.&nbsp;&nbsp;Audio replay will be available for 21 days by calling toll-free in North America:&nbsp;&nbsp;1-866-245-6755, passcode 339376.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">If you are unable to access the audio or phone-in on the day of the conference call, please email questions to Connie Martinez, Manager &#x2013; Investor Relations (email: </font><font style="display: inline;font-family:Times New Roman;color:#0033CC;">connie@vistagold.com</font><font style="display: inline;font-family:Times New Roman;">), and we will try to address these questions prior to or during the conference call.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">All dollar amounts in the press release are U.S. dollars</font><font style="display: inline;font-family:Times New Roman;">.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">About Vista Gold Corp.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">Vista&#x2019;s principal asset </font><font style="display: inline;font-family:Times New Roman;">is</font><font style="display: inline;font-family:Times New Roman;"> its flagship Mt Todd gold project in Northern Territory, Australia</font><font style="display: inline;font-family:Times New Roman;">.&nbsp; </font><font style="display: inline;font-family:Times New Roman;">Upon completion of the Midas Sale, w</font><font style="display: inline;font-family:Times New Roman;">e &nbsp;</font><font style="display: inline;font-family:Times New Roman;">will </font><font style="display: inline;font-family:Times New Roman;">hold approximately </font><font style="display: inline;font-family:Times New Roman;">5.5</font><font style="display: inline;font-family:Times New Roman;">% &nbsp;</font><font style="display: inline;font-family:Times New Roman;">of the outstanding common shares of </font><font style="display: inline;font-family:Times New Roman;">Midas</font><font style="display: inline;font-family:Times New Roman;">, &nbsp;</font><font style="display: inline;font-family:Times New Roman;">non-core projects in Mexico and </font><font style="display: inline;font-family:Times New Roman;">the United States and</font><font style="display: inline;font-family:Times New Roman;"> royalty interests in projects in Bolivia and Indonesia.&nbsp; </font><font style="display: inline;font-family:Times New Roman;color:#000000;">For more information about our projects, including technical studies and resource estimates, please visit our website at</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;text-decoration:underline;">www.vistagold.com</font><font style="display: inline;font-family:Times New Roman;color:#000000;">.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">For further information, please contact Connie Martinez at (720) 981-1185.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;line-height:115%;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Forward Looking Statements</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.&nbsp;&nbsp;All statements, other than statements of historical facts, included in this press release that address activities, events or developments that </font><a name="_DV_C81"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">we expect</font><font style="display: inline;font-size:9pt;"> or anticipate will or may occur in the future, including such things as, </font><a name="_DV_C89"></a><font style="display: inline;font-size:9pt;">the closing of the Midas Sale; </font><font style="display: inline;font-size:9pt;">the Company being funded through most of 2016; </font><font style="display: inline;font-size:9pt;">the impact that </font><font style="display: inline;font-size:9pt;">macro-economic factors may have on the economics on the Mt Todd gold project;</font><font style="display: inline;font-size:9pt;">&nbsp;</font><font style="display: inline;font-size:9pt;">funding the Company without dilution; and moving the </font><font style="display: inline;font-size:9pt;">M</font><font style="display: inline;font-size:9pt;">t Todd gold project forward</font><font style="display: inline;font-size:9pt;"> quickly</font><font style="display: inline;font-size:9pt;"> when there is sustained improvement in the gold market; </font><font style="display: inline;font-size:9pt;">and other such matters are forward-looking statements and forward-looking information.&nbsp;&nbsp;The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our approved business plans, exploration and assay results, mineral resource and reserve estimates and results of preliminary economic assessments,</font><font style="display: inline;font-size:9pt;"> pre-feasibility studies and feasibility studies on our projects, if any.&nbsp;&nbsp;When used in this press release, the words </font><a name="_DV_C95"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201C;</font><a name="_DV_M95"></a><font style="display: inline;font-size:9pt;">optimistic,</font><a name="_DV_C97"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M96"></a><font style="display: inline;font-size:9pt;">potential,</font><a name="_DV_C99"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M97"></a><font style="display: inline;font-size:9pt;">indicate,</font><a name="_DV_C101"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M98"></a><font style="display: inline;font-size:9pt;">expect,</font><a name="_DV_C103"></a><font style="display: inline;font-size:9pt;">&#x201D;</font><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;"> &nbsp;&#x201C;</font><a name="_DV_M99"></a><font style="display: inline;font-size:9pt;">intend,</font><a name="_DV_C105"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M100"></a><font style="display: inline;font-size:9pt;">hopes,</font><a name="_DV_C107"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M101"></a><font style="display: inline;font-size:9pt;">believe,</font><a name="_DV_C109"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M102"></a><font style="display: inline;font-size:9pt;">may,</font><a name="_DV_C111"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M103"></a><font style="display: inline;font-size:9pt;">will,</font><a name="_DV_C113"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M104"></a><font style="display: inline;font-size:9pt;">if,</font><a name="_DV_C115"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D; &#x201C;</font><a name="_DV_M105"></a><font style="display: inline;font-size:9pt;">anticipate,</font><a name="_DV_M106"></a><font style="display: inline;font-size:9pt;">&#x201D; and similar expressions are intended to identify forward-looking statements and forward-looking information.&nbsp;&nbsp;These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of </font><a name="_DV_C119"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">the Company</font><a name="_DV_M107"></a><font style="display: inline;font-size:9pt;"> to be materially different from any future results, performance or achievements expressed or implied by such statements.&nbsp;&nbsp;Such factors include, among others, uncertainty of resource </font><a name="_DV_C120"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">and reserve </font><a name="_DV_M108"></a><font style="display: inline;font-size:9pt;">estimates, uncertainty as to the Company&#x2019;s future operating costs and ability to raise capital; </font><a name="_DV_M109"></a><font style="display: inline;font-size:9pt;">risks relating to cost increases for capital and operating costs; </font><a name="_DV_M111"></a><font style="display: inline;font-size:9pt;">risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on </font><a name="_DV_C129"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">our</font><a name="_DV_M112"></a><font style="display: inline;font-size:9pt;"> operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings </font><a name="_DV_C131"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201C;</font><a name="_DV_M113"></a><font style="display: inline;font-size:9pt;">Note Regarding Forward-Looking Statements</font><a name="_DV_C133"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D;</font><a name="_DV_M114"></a><font style="display: inline;font-size:9pt;"> and </font><a name="_DV_C135"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201C;</font><a name="_DV_M115"></a><font style="display: inline;font-size:9pt;">Risk Factors</font><a name="_DV_C137"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">&#x201D;</font><a name="_DV_M116"></a><font style="display: inline;font-size:9pt;"> in </font><a name="_DV_C139"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">the Company&#x2019;</font><a name="_DV_M117"></a><font style="display: inline;font-size:9pt;">s latest Annual Report on Form 10-K as filed on March </font><font style="display: inline;font-size:9pt;">2</font><font style="display: inline;font-size:9pt;">, 201</font><font style="display: inline;font-size:9pt;">5</font><font style="display: inline;font-size:9pt;">&nbsp;</font><a name="_DV_M118"></a><font style="display: inline;font-size:9pt;">and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.&nbsp;&nbsp;Although </font><a name="_DV_C143"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">we have</font><a name="_DV_M119"></a><font style="display: inline;font-size:9pt;"> attempted to identify important factors that could cause </font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 9pt"><font style="display: inline;font-size:9pt;">actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.&nbsp;&nbsp;Except as required by law, </font><a name="_DV_C145"></a><font style="color:#0000FF;display: inline;color:#000000;font-size:9pt;text-decoration:none;">we assume</font><a name="_DV_M120"></a><font style="display: inline;font-size:9pt;"> no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.</font>
		</p>
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			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
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