<SEC-DOCUMENT>0000783324-20-000031.txt : 20200625
<SEC-HEADER>0000783324-20-000031.hdr.sgml : 20200625
<ACCEPTANCE-DATETIME>20200624215743
ACCESSION NUMBER:		0000783324-20-000031
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200624
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200625
DATE AS OF CHANGE:		20200624

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:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09025
		FILM NUMBER:		20986929

	BUSINESS ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY, SUITE 5
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
		BUSINESS PHONE:		720-981-1185

	MAIL ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY, SUITE 5
		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-20200624x8k.htm
<DESCRIPTION>8-K
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.6.2.57--><!--Created on: 6/25/2020 01:54:30 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title>_</title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;"><a name="A001"></a></font><b style="font-weight:bold;">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>WASHINGTON, D.C. 20549</b> </p><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:14pt 0pt 0pt 0pt;">_________________ </p><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:14pt 0pt 0pt 0pt;"><a name="A003"></a><b style="font-weight:bold;">FORM 8-K</b> </p><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:14pt 0pt 0pt 0pt;"><a name="A004"></a><b style="font-weight:bold;">CURRENT REPORT</b> </p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:14pt 0pt 0pt 0pt;">Pursuant to Section 13 or 15(d) of the <br>Securities Exchange Act of 1934 </p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:14pt 0pt 0pt 0pt;"><b style="font-weight:bold;">Date of Report: June 24, 2020</b></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">(Date of earliest event reported)</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:14pt 0pt 0pt 0pt;"><font style="font-size:12pt;"><a name="A006"></a></font><b style="font-size:13.5pt;font-weight:bold;">VISTA GOLD CORP. <br></b>(Exact Name of Registrant as Specified in Charter) </p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:14pt 0pt 0pt 0pt;"><font style="font-size:12pt;"><a name="A007"></a></font><b style="font-weight:bold;">British Columbia, Canada <br></b>(State or Other Jurisdiction of Incorporation) </p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">1-9025<br></b>(Commission File Number) </p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Not Applicable<br></b>(IRS Employer Identification No.) </p></td></tr></table></div><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;"><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br><a name="A009"></a></font><b style="font-family:'Times New Roman Bold';font-weight:bold;text-transform:uppercase;">7961 Shaffer parkway, suite 5, littleton, colorado 80127</b></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">(Address of Principal Executive Offices and Zip Code)</p><p style="font-family:'Times New Roman';font-size:10pt;margin:14pt 0pt 0pt 0pt;">Registrant&#8217;s telephone number, including area code:&#160;&#160; <b style="font-weight:bold;">(720) 981-1185</b></p><p style="font-family:'Times New Roman';font-size:10pt;margin:14pt 0pt 0pt 0pt;"><font style="font-size:12pt;"><a name="A011"></a></font>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: </p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><font style="font-size:12pt;"><a name="Check1"></a></font><font style="font-family:'Wingdings';font-size:12pt;">o</font><font style="font-family:'Arial Unicode MS';font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:0.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">&#160; </p></td><td style="vertical-align:top;width:94.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr></table></div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><font style="font-size:12pt;"><a name="Check2"></a></font><font style="font-family:'Wingdings';font-size:12pt;">o</font><font style="font-family:'Arial Unicode MS';font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:0.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">&#160; </p></td><td style="vertical-align:top;width:94.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr><tr><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><font style="font-size:12pt;"><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br><a name="Check3"></a></font><font style="font-family:'Wingdings';font-size:12pt;">o</font><font style="font-family:'Arial Unicode MS';font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:0.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">&#160; </p></td><td style="vertical-align:top;width:94.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p></td></tr></table></div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><font style="font-size:12pt;"><a name="Check4"></a></font><font style="font-family:'Wingdings';font-size:12pt;">o</font><font style="font-family:'Arial Unicode MS';font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:0.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">&#160; </p></td><td style="vertical-align:top;width:94.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></table></div><p style="background-color:#ffffff;font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br></font>Securities registered pursuant to Section 12(b) of the Exchange Act:</p><p style="background-color:#ffffff;font-family:'Times New Roman';font-size:10pt;margin:0pt;">&#160;</p><div style="margin-left:-1.5pt;" align="left"><table style="background-color:#ffffff;border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100.8%;"><tr><td style="background-color:#ffffff;vertical-align:top;width:25.59%;border-left:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">Title of each class</p></td><td style="background-color:#ffffff;vertical-align:top;width:34.34%;border-left:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">Trading Symbol(s)</p></td><td style="background-color:#ffffff;vertical-align:top;width:40.06%;border-left:1.5pt solid #000000;border-right:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt 0pt 0pt -7.25pt;">Name of each exchange on which registered</p></td></tr><tr><td style="background-color:#ffffff;vertical-align:top;width:25.59%;border-bottom:1.5pt solid #000000;border-left:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">Common Shares</p></td><td style="background-color:#ffffff;vertical-align:top;width:34.34%;border-bottom:1.5pt solid #000000;border-left:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">VGZ</p></td><td style="background-color:#ffffff;vertical-align:top;width:40.06%;border-bottom:1.5pt solid #000000;border-left:1.5pt solid #000000;border-right:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;">NYSE American</p></td></tr></table></div><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">&#160;</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). Emerging growth company&#160;<font style="font-family:'Wingdings';"><font style="font-family:'Times New Roman';">&#9723;</font></font></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">&#160;</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="font-family:'Segoe UI Symbol';">&#9744;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:12pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><a name="A012"></a><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman Bold';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;"><font style="font-weight:normal;">Item 1.01. Entry into a Material Definitive Agreement.</font></p><p style="font-family:'Times New Roman Bold';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 10pt 0pt;"><font style="font-family:'Times New Roman';font-weight:normal;">On June 24, 2020, Vista Gold Corp. (the &#8220;Company&#8221;) entered into Amendment No. 1 (the &#8220;Amended ATM Agreement&#8221;) to its At The Market Offering Agreement with H.C. Wainwright &amp; Co., LLC (&#8220;Wainwright&#8221;) as sales manager dated November 22, 2017 (the &#8220;ATM Agreement&#8221;). As previously disclosed in the Company&#8217;s Current Report on Form 8-K as filed with the Commission on November 22, 2017, under the terms of the ATM Agreement, the Company will be entitled to sell, at its sole discretion and from time to time as it may choose, common shares in the capital of the Company (&#8220;Shares&#8221;) through Wainwright (the &#8220;Offering&#8221;).</font></p><p style="font-family:'Times New Roman Bold';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 10pt 0pt;"><font style="font-family:'Times New Roman';font-weight:normal;">The Amended ATM Agreement revises certain representations and warranties of the Company to reflect the filing of a new registration statement on Form S-3 (due to the prior Form S-3 expiring in early July 2020) and new prospectus supplement regarding the Offering to qualify the offering under the new registration statement. The Amended ATM Agreement also revises the termination date of the ATM Agreement to remove the termination date of August 31, 2020. &#160;As revised, the ATM Agreement can still be terminated by either party upon proper notice under its terms.</font></p><p style="font-family:'Times New Roman Bold';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 10pt 0pt;"><font style="font-family:'Times New Roman';font-weight:normal;">The above is a summary of the material terms of the Amended ATM Agreement and is qualified in its entirety by the Amended ATM Agreement which is attached hereto as Exhibit 1.2 and hereby incorporated by reference. </font></p><p style="font-family:'Times New Roman Bold';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;"><b style="font-family:'Times New Roman';font-weight:bold;white-space:pre-wrap;">Item 9.01  Financial Statements and Exhibits. </b></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:18pt;"><font style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">(d) </font></font>Exhibits</p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:54pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;"><u style="font-size:10pt;text-decoration:underline;text-decoration-color:#000000;">Exhibit No.</u></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;"><font style="font-size:10pt;white-space:pre-wrap;">           </font><u style="font-size:10pt;text-decoration:underline;text-decoration-color:#000000;">Description</u></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:81.75pt;padding:0pt;">1.1</td><td style="padding:0pt;"><a href="http://www.sec.gov/Archives/edgar/data/783324/000114420417060684/tv480139_ex1-1.htm"><font style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">At the Market Offering Agreement dated November 22, 2017 (incorporated by reference to Exhibit 1.1 to the Registrant&#8217;s Form 8-K filed on November 22, 2017)*</font></a></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:81.75pt;padding:0pt;">1.2</td><td style="padding:0pt;"><a href="vgz-20200624ex120d00fda.htm"><font style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Amendment No.1 to the At the Market Offering Agreement dated June 24, 2020*</font></a></td></tr></table><div style="margin-top:12pt;"></div><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:81pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;"><font style="font-size:10pt;">5.1</font></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;"><a href="vgz-20200624ex5135b0d76.htm"><font style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Borden Ladner Gervais LLP Opinion*</font></a></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:81pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;"><font style="font-size:10pt;">99.1</font></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-top:0pt;"><a href="vgz-20200624ex5135b0d76.htm"><font style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Consent of Borden Ladner Gervais LLP (contained in Exhibit 5.1)</font></a></p></td></tr></table><p style="font-family:'Times New Roman';font-size:12pt;padding-left:54pt;text-indent:-54pt;margin:0pt 0pt 12pt 18pt;"><font style="font-size:10pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:10pt;padding-left:9pt;text-indent:-9pt;margin:0pt 0pt 12pt 0pt;">* The foregoing Exhibits are hereby incorporated by reference into the Registrant&#8217;s Registration Statement on Form S-3 (File No. 333-239139), filed with the SEC on June 12, 2020, as declared effective on June 24, 2020, pursuant to the United States Securities Act of 1933, as amended. </p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><div style="clear:right;float:right;margin-right:calc(50% - 0pt);"><div style="left:0pt;position:relative;text-indent:0pt;top:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;width:100%;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SIGNATURES</b> </p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:14pt 0pt 0pt 0pt;">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. </p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">&#160; </p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">VISTA GOLD CORP.<br></b>(Registrant) </p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Dated:&#160;June 24, 2020</p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">By: <u style="text-decoration:underline;text-decoration-color:#000000;"> /s/Douglas Tobler</u></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Douglas Tobler</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Chief Financial Officer</p></td></tr></table></div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><div style="clear:right;float:right;margin-right:calc(50% - 0pt);"><div style="left:0pt;position:relative;text-indent:0pt;top:0pt;"><p style="font-family:'Times New Roman';font-size:12pt;width:100%;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>2
<FILENAME>vgz-20200624ex120d00fda.htm
<DESCRIPTION>EX-1.2
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.6.2.57--><!--Created on: 6/25/2020 01:54:48 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:11pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 1.2</b></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font><font style="display:inline-block;width:36pt;"></font>June 24, 2020</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">Vista Gold Corp.</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">7961 Shaffer Parkway, Suite 5</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">Littleton, Colorado 80127</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">Attention: Douglas L. Tobler, Chief Financial Officer</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">Dear Mr. Tobler:</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>Reference is made to the At The Market Offering Agreement, dated as of November 22, 2017 (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">ATM Agreement</u>&#8221;), between Vista Gold Corp. (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Company</u>&#8221;) and H.C. Wainwright &amp; Co., LLC (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Wainwright</u>&#8221;). &#160;This letter (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Amendment</u>&#8221;) constitutes an agreement between the Company and Wainwright to amend the ATM Agreement as set forth herein. &#160;Defined terms that are used but not defined herein shall have the meanings ascribed to such terms in the ATM Agreement.</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">1.</font>The defined term &#8220;Agreement&#8221; in the ATM Agreement is amended to mean the ATM Agreement as amended by this Amendment.</div><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">2.</font>The defined term &#8220;Registration Statement&#8221; in the ATM Agreement is amended and restated as follows:</div><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">&#8220;&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Registration Statement</u>&#8221; shall mean, collectively, (i) for the period from November 22, 2017 until the Second Shelf Effective Date (as defined herein), the shelf registration statement (File Number&#160;333-218979) on Form&#160;S-3 (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">First Registration Statement</u>&#8221;) that was initially declared effective on July 5, 2017 and (ii) for the period from the Second Shelf Effective Date and thereafter, a new shelf registration statement (File Number 333-239139) on Form S-3 (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Second Registration Statement</u>&#8221;) that was filed prior to the expiration of the First Registration Statement and that was declared effective by the Commission on June 24, 2020 (such date of effectiveness of the Second Registration Statement, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Second Shelf Effective Date</u>&#8221;), including exhibits and financial statements and any prospectus supplement relating to the Shares that is filed with the Commission pursuant to Rule&#160;424(b) and deemed part of such registration statement pursuant to Rule&#160;430B, as amended on each Effective Date and, in the event any post-effective amendment thereto becomes effective, shall also mean such registration statement as so amended.&#8221;</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">3.</font>A new Section 2(b)(ix) of the ATM Agreement is hereby inserted as follows:</div><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">&#8220;If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of Common Shares, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar </p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;line-height:10pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">transaction) (a &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Distribution</u>&#8221; and the record date for the determination of stockholders entitled to receive the Distribution, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Record Date</u>&#8221;), the Company hereby covenants that, in connection with any sales of Shares pursuant to a Sales Notice on the Record Date, the Company covenants and agrees that the Company shall issue and deliver such Shares to the Manager on the Record Date and the Record Date shall be the Settlement Date and the Company shall cover any additional costs of the Manager in connection with the delivery of Shares on the Record Date.&#8221;</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">4.</font>Section 8(c) of the ATM Agreement is hereby amended and restated as follows:</div><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 72pt;">&#8220;This Agreement shall remain in full force and effect until the date that this Agreement is terminated pursuant to Sections&#160;8(a) or (b)&#160;above or otherwise by mutual agreement of the parties, provided that any such termination by mutual agreement shall in all cases be deemed to provide that Sections&#160;5, 6, 7, 8, 9, 10, 12 and 14 shall remain in full force and effect.&#8221;</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">5.</font>The Company and Wainwright hereby agree that the date of this Amendment shall be a Representation Date under the ATM Agreement, provided that the deliverable under Section 6(d) of the ATM Agreement shall not be required on the date of this Amendment, and the Company shall file a Prospectus Supplement with the Commission on the date hereof.</div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">6.</font>Except as expressly set forth herein, all of the terms and conditions of the ATM Agreement shall continue in full force and effect after the execution of this Amendment and shall not be in any way changed, modified or superseded by the terms set forth herein.</div><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">7.</font>This Amendment may be executed in two or more counterparts and by facsimile or &#8220;.pdf&#8221; signature or otherwise, and each of such counterparts shall be deemed an original and all of such counterparts together shall constitute one and the same agreement.</div><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:36pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;">2</p><p style="font-family:'Times New Roman';font-size:12pt;line-height:10pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt;"><a name="_Hlk517212580"></a>In acknowledgment that the foregoing correctly sets forth the understanding reached by the Company and Wainwright, please sign in the space provided below, whereupon this Amendment shall constitute a binding amendment to the ATM Agreement as of the date indicated above.</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">Very truly yours,</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">H.C. WAINWRIGHT &amp; CO., LLC</b></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;">By:<u style="text-decoration:underline;text-decoration-color:#000000;"> /s/ Edward D. Silvera</u></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"> &#160; &#160; Name: Edward D. Silvera</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="white-space:pre-wrap;">     </font>Title: Chief Operating Officer</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;">Accepted and Agreed:</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">VISTA GOLD CORP.</b></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman';font-size:12pt;margin:0pt;">By:<u style="text-decoration:underline;text-decoration-color:#000000;"> /s/ Frederick H. Earnest</u></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"> &#160; &#160; Name: Fredrick H. Earnest</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt;"><font style="white-space:pre-wrap;">     </font>Title: Chief Executive Officer</p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:36pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:center;margin:0pt;">3</p><p style="font-family:'Times New Roman';font-size:12pt;line-height:10pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>vgz-20200624ex5135b0d76.htm
<DESCRIPTION>EX-5.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.6.2.57--><!--Created on: 6/25/2020 01:55:06 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><div style="clear:both;"></div><div style="clear:right;float:right;height:0.5pt;width:0pt;"></div><div style="clear:right;float:right;height:46.85pt;margin-left:9pt;width:121.7pt;z-index:-9223372036603117568;"><div style="height:46.85pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:121.7pt;"><img src="vgz-20200624ex5135b0d76002.jpg" alt="BLG_Internal_K" style="height:46.85pt;width:121.7pt;"></div></div><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin-bottom:0pt;margin-left:141.75pt;margin-top:0pt;overflow:hidden;position:relative;text-align:justify;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:linear-gradient(transparent 50%,white 50%);"><font style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">Borden Ladner Gervais LLP</font></font><font style="bottom:0.15em;display:block;height:1px;left:0pt;position:absolute;width:100%;z-index:0;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:linear-gradient(transparent 50%,white 50%);"></font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 141.75pt;"><font style="font-family:'Times New Roman';">1200 Waterfront Centre</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 141.75pt;"><font style="font-family:'Times New Roman';">200 Burrard St, P.O. Box 48600</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 141.75pt;"><font style="font-family:'Times New Roman';">Vancouver, BC, Canada V7X 1T2</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 141.75pt;"><font style="font-family:'Times New Roman';">T 604.687.5744</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 0pt 141.75pt;"><font style="font-family:'Times New Roman';">F 604.687.1415</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt 0pt 0pt 141.75pt;"><font style="font-family:'Times New Roman';">blg.com</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><b style="font-family:'Times New Roman';font-weight:bold;">Exhibit 5.1&#160;</b></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">June 24, 2020</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">Vista Gold Corp.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">Suite 5, 7961 Shaffer Parkway</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">Littleton, Colorado</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">Dear Sirs/Mesdames</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman';font-weight:bold;">Re: Registration Statement on Form S-3 (the &#8220;Registration Statement&#8221;)</b></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">We have acted as British Columbia counsel to Vista Gold Corp., a British Columbia corporation (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Company</b><font style="font-family:'Times New Roman';">&#8221;), with respect to certain legal matters in connection with the registration by the Company, under the U.S. Securities Act of 1933, as amended (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Securities Act</b><font style="font-family:'Times New Roman';">&#8221;), of the offer and sale by the Company in the United States of its common shares, having an aggregate offering price of up to US$10,000,000 pursuant to an At the Market Offering Agreement dated November 22, 2017 (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">ATM Agreement</b><font style="font-family:'Times New Roman';">&#8221;) by and between the Company and H.C. Wainwright &amp; Co., LLC (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Manager</b><font style="font-family:'Times New Roman';">&#8221;). &#160;The Company previously filed a prospectus supplement to its base prospectus contained in its prior registration statement on Form S-3 (No. 333-218979), pursuant to which it offered and sold 1,031,819 common shares with an aggregate offering price of US$832,414. &#160;The current prospectus supplement dated June 24, 2020 relates to the offer of the Company&#8217;s common shares (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Shares</b><font style="font-family:'Times New Roman';">&#8221;) for the remaining US$9,167,586 (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Offering</b><font style="font-family:'Times New Roman';">&#8221;) pursuant to the Company&#8217;s base prospectus under its new registration statement on Form S-3 (No. 333-239139). The Toronto Stock Exchange has approved the listing of 10,000,000 Shares of which 1,031,819 Shares have been issued.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">We have examined such documents and have reviewed such questions of law as we have considered necessary and appropriate for the purposes of our opinions set forth below. In rendering our opinions set forth below, we have assumed the authenticity of all documents submitted to us as originals, the genuineness of all signatures and the conformity to authentic originals of all documents submitted to us as copies or facsimile transmissions. We have also assumed the legal capacity for all purposes relevant hereto of all natural persons and, with respect to all parties to agreements or instruments relevant hereto other than the Company, that such parties had the requisite power and authority (corporate or otherwise) to execute, deliver and perform such agreements or instruments, that such agreements or instruments have been duly authorized by all requisite action (corporate or otherwise), executed and delivered by such parties and that such agreements or instruments are the legal, valid, binding and enforceable obligations of such parties. As to questions of fact material to our opinions, we have relied upon certificates of officers of the Company and of public officials.</font><b style="font-family:'Times New Roman';font-weight:bold;"> </b><font style="font-family:'Times New Roman';">We have not undertaken any independent investigation to verify the accuracy or completeness of any of the foregoing assumptions.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">&#160;</font></font><font style="font-family:'Times New Roman';">For purposes of this opinion letter, we have also assumed that (a) the Registration Statement, and any amendments thereto (including post-effective amendments), will have become effective and such effectiveness will not have been terminated or rescinded, (b) all Shares will be offered, issued and sold in compliance with applicable United States federal and state securities laws and in the manner stated in the Registration Statement and the prospectus supplement filed in the United States, (c) at the time of the issuance of the Shares there will be sufficient common shares authorized and unissued under the Company&#8217;s then operative notice of articles (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Notice of Articles</b><font style="font-family:'Times New Roman';">&#8221;) and not otherwise reserved for issuance, (d) at the time of issuance of the Shares, the Company validly exists and is duly qualified and in good standing under the laws of its jurisdiction of incorporation, and has the necessary corporate power for such issuance, (e) at the time of issuance of the Shares, the Notice of Articles and then operative articles of the Company (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Articles</b><font style="font-family:'Times New Roman';">&#8221; and collectively with the Notice of Articles, the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">Charter Documents</b><font style="font-family:'Times New Roman';">&#8221;) are in full force and effect and have not been amended, restated, supplemented or otherwise altered, and there has been no authorization of any such amendment, restatement, supplement or other alteration, in either case since the date hereof, (f) that the issuance, terms, execution and delivery of the Shares (A) do not result in breaches of, or defaults under, agreements or instruments to which the Company is bound or violations of applicable statutes, rules, regulations or court or governmental orders, and (B) comply with any applicable requirement or </font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><div style="clear:both;"></div><div style="clear:right;float:right;height:0.5pt;width:0pt;"></div><div style="clear:right;float:right;height:46.85pt;margin-left:9pt;width:121.7pt;z-index:-9223372036603116544;"><div style="height:46.85pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:121.7pt;"><img src="vgz-20200624ex5135b0d76002.jpg" alt="BLG_Internal_K" style="height:46.85pt;width:121.7pt;"></div></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">restriction imposed by any court or governmental body having jurisdiction over the Company. We have not undertaken any independent investigation to verify the accuracy or completeness of any of the foregoing assumptions.</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:justify;">&#160;</font></font><font style="font-family:'Times New Roman';">Based upon and subject to the foregoing, we are of the opinion that:</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">The Shares will be duly authorized, validly issued, fully paid and non-assessable when certificates representing the Shares have been duly executed, countersigned, registered and delivered, or if uncertificated, valid book-entry notations have been made in the share register of the Company, in each case in accordance with the Charter Documents against payment therefor in an amount determined in accordance with the ATM Agreement for each Common Share.</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin-bottom:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">Our opinions expressed herein are subject to the following qualifications:</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(a)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the enforceability of any agreement may be limited by bankruptcy, reorganization, winding-up, insolvency, moratorium, arrangement, fraudulent preference and conveyance, assignment and preference and other similar laws of general application affecting the enforcement of creditor&#8217;s rights;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(b)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">no opinion is given as to the enforceability of any term providing for the severance of void, illegal or unenforceable provisions from the remaining provisions of an agreement;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(c)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">no opinion is given as to the enforceability of any term providing that modifications, amendments or waivers are not binding unless in writing;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(d)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">no opinion is given with respect to rights to indemnity and contribution;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(e)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the enforceability of the obligations of a party under any agreement is subject to general principles of equity, including, without limitation:</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:15.38%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(i)</font></p></td><td style="vertical-align:top;width:76.92%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">concepts of materiality, reasonableness, good faith and fair dealing in performance and enforcement of a contract required of the party seeking its enforcement;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 72pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:15.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(ii)</font></p></td><td style="vertical-align:top;width:76.92%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the discretion exercisable by a court with respect to equitable remedies, such as specific performance and injunction;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 72pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:15.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(iii)</font></p></td><td style="vertical-align:top;width:76.92%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the discretion exercisable by a court with respect to stays of enforcement proceedings and execution of judgments;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 72pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:15.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(iv)</font></p></td><td style="vertical-align:top;width:76.92%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the effect of vitiating factors, such as mistake, misrepresentation, fraud, duress or undue influence; and</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 72pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:15.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(v)</font></p></td><td style="vertical-align:top;width:76.92%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the discretion of a court with respect to the enforcement of provisions in an agreement to the effect that certain factual or legal determinations, calculations or certificates will be conclusive and binding;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(f)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">a court may reserve to itself the right to decline jurisdiction in any action if the court is an inconvenient forum to hear the action or if concurrent proceedings are being brought elsewhere, notwithstanding any waiver of the right to raise such objection or defence thereto;</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(g)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the right to exercise any unilateral or unfettered discretion pursuant to an agreement will not prevent a court from requiring such discretion to be exercised reasonably; and</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><div style="clear:both;"></div><div style="clear:right;float:right;height:0.5pt;width:0pt;"></div><div style="clear:right;float:right;height:46.85pt;margin-left:9pt;width:121.7pt;z-index:-9223372036603116544;"><div style="height:46.85pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:121.7pt;"><img src="vgz-20200624ex5135b0d76002.jpg" alt="BLG_Internal_K" style="height:46.85pt;width:121.7pt;"></div></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:11pt;line-height:1.19;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri';font-size:11pt;line-height:1.37;margin:0pt 0pt 10pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;padding-left:36pt;text-align:justify;text-indent:-36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:7.69%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;margin:0pt;"><font style="font-family:'Times New Roman';">(h)</font></p></td><td style="vertical-align:top;width:84.61%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">the recoverability of costs and expenses may be limited to those a court considers to be reasonably incurred, the costs and expenses incidental to all court proceedings are in the discretion of the court and the court has the discretion to determine by whom and to what extent these costs shall be paid.</font></p></td></tr></table></div><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">The foregoing opinions are limited to the laws of the Province of British Columbia and the federal laws of Canada applicable therein on the date of this opinion, and we are expressing no opinion as to the effect of the laws of any other jurisdiction, domestic or foreign.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">The opinion expressed in this letter is for the sole benefit of the Company in connection with the Registration Statement. This opinion may not be relied upon by, disclosed to, or filed with, any other person without our prior written consent.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">Notwithstanding the foregoing, we hereby consent to the filing of this opinion with the Securities Exchange Commission (the &#8220;</font><b style="font-family:'Times New Roman';font-weight:bold;">SEC</b><font style="font-family:'Times New Roman';">&#8221;) as an exhibit to the Current Report on Form 8-K to be filed by the Company in connection with the Offering. We also hereby consent to the use of our name under the heading &#8220;Legal Matters&#8221; in the Base Prospectus and Prospectus Supplement which forms part of the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the SEC promulgated thereunder.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-family:'Times New Roman';">This opinion is expressed as of the date hereof and unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">Very truly yours,</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">&#160;</font></p><p style="font-family:'Calibri';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman';">/s/ Borden Ladner Gervais LLP</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>vgz-20200624ex5135b0d76002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 vgz-20200624ex5135b0d76002.jpg
M_]C_X  02D9)1@ ! @   0 !  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !> /0# 2(  A$! Q$!_\0
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M<9],\5\LZ78G4]5M;$2)$;B58][M@+D]2:^S]&TZ'2=&L["WQY5O$J*1WP*
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M^->+_P#"+Z__ - :_P#^_#?X4?\ "+Z__P! :_\ ^_#?X4 >T?\ #1%C_P!
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=JZTP:_XA-]8Z8X>W@2$(21TW&@#T@=**** /_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
