7961 SHAFFER PARKWAY
        SUITE 5
[LOGO]  LITTLETON, COLORADO 80127
        TELEPHONE (720) 981-1185
        FAX (720) 981-1186


                                          Trading Symbol:  VGZ
                                          Toronto and American Stock Exchanges
_________________________________________________________ NEWS _________________

VISTA GOLD CORP. ANNOUNCES CLOSING OF FINAL TRANCHE OF PREVIOUSLY ANNOUNCED
PRIVATE PLACEMENT

DENVER, COLORADO MARCH 19, 2002-Vista Gold Corp. (TSE; AMEX -VGZ) is pleased to
announce the closing of the second and final tranche of the private placement
announced January 22, 2002. This tranche consisted of convertible debentures
("Debentures") in the total principal amount of U.S.$2,774,000 issued to various
investors. The Corporation also issued 4,325,925 special warrants (the "Agent's
Special Warrants") to Global Resource Investments Ltd. as consideration for its
services as agent in connection with the Debenture Offering.

The gross proceeds raised by the issuance of the Debentures have been placed in
escrow subject to shareholder approval at the Annual and Special General Meeting
which will be held on April 26, 2002, and also subject to the dismissal of the
United States Fidelity & Guarantee Company ("USF&G") lawsuit as described in the
Corporation's press release of January 22, 2002 and in the Corporation's 2001
Forms 10-Q. In addition, if shareholders approve the Debenture Offering,
management expects that the Debentureholders will nominate a person to be
appointed as a director of the Corporation.

Subject to shareholder approval and dismissal of the USF&G lawsuit, the
Debentures are convertible into units (the "Debenture Units") at a price of
U.S.$0.0513 per Debenture Unit, with each Debenture Unit consisting of one
Common Share and one Warrant which will entitle the holder to purchase one
Common Share at a price of U.S.$0.075 per share on or before March 18, 2007. The
Debentures bear interest at a rate of 1% per annum and will mature on September
19, 2003, unless they are converted or otherwise become due and payable prior to
that date. The Agent's Special Warrants, also subject to shareholder approval,
are convertible into 4,325,925 units, with each unit consisting of one Common
Share and one Warrant with the same terms as the Debenture Units.

"The closing of the final part of the private placement brings us one step
closer to having the funds available to meet our working capital needs and to
acquire additional gold resources," said Jock McGregor, President and Chief
Executive Officer. "In the current market we believe the best way to add value
for the shareholders is to increase our resource base primarily by focusing on
projects where we see an opportunity to add value using our in-house technical
expertise."

Vista  Gold  Corp. is  an  international gold mining, development and
exploration company based in Littleton Colorado. Its holdings include the
Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration
projects in North and South America.




The statements that are not historical facts are forward-looking statements
involving known and unknown risks and uncertainties that could cause actual
results to vary materially from targeted results. Such risks and uncertainties
include those described from time to time in the Corporation's periodic reports,
including the annual report on Form 10-K, as amended, filed with the U.S.
Securities and Exchange Commission. The Corporation assumes no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise.

For further  information,  please contact Jock McGregor or Jack Engele at
(720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
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