Vista Gold Reveals Positive Shift in Australia's Mineral Royalties

Vista Gold Corp.

Vista Gold Corp. (NYSE American and TSX: VGZ) ("Vista" or the "Company") today announced that the Northern Territory, Australia (the "NT") has passed legislation to enact the Mineral Royalties Act 2024 ("Royalties Act") effective July 1, 2024. The Royalties Act will replace the prior net profits royalty regime with an ad valorem royalty regime for new mines. The new effective royalty rate is expected to positively impact project economics for the Company's Mt Todd gold project in the NT. All dollar amounts in this press release are in U.S. dollars.

The Royalties Act is aimed at encouraging present and future exploration and development of mining projects by simplifying the NT's royalty system and making it more competitive with other Tier 1 jurisdictions. Pursuant to the Royalties Act, the royalty rate applicable to gold doré from Mt Todd will be 3.5% of the value of gold produced.

Frederick H. Earnest, President and CEO of Vista Gold, stated, "We are pleased with the successful efforts of the NT Government to encourage new mining development in the Territory. The 3.5% royalty to be applied to the production from Mt Todd represents a meaningful opportunity for improved project economics and earlier shareholder returns compared to our 2024 updated feasibility study, which included NT royalties equivalent to nearly a 7% ad valorem rate. Under the previous net profits royalty regime, our base case economic analysis at an $1,800 gold price estimated the payment of $765 million in NT royalties over the life of the mine. The new royalty rate will represent nearly a 50% reduction in payable royalties and underscores the NT's commitment to growing a viable mining sector through new development."

The Chief Minister and Treasurer of the Northern Territory, Eva Lawler, recently commented, "Mining is a key driver of the Territory economy. An ad valorem scheme is simple, competitive, and delivers investment certainty, allowing new mines to commence operations in the Territory, creating significant economic benefit, higher employment, and more royalties for Territorians. Right now we are in a position to set our course for a mining industry that is not only profitable to the Northern Territory, but also supports the energy transition to renewables."1

John Rozelle, a "qualified person" as defined by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects, has verified the data underlying the information contained in and has approved this press release.

About Vista Gold Corp.

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

Mt Todd benefits from its location in a leading mining jurisdiction and offers opportunities to add value through growth of mineral reserves, alternative development strategies, and other de-risking activities.

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