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

                                           Trading Symbol:  VGZ
                                           Toronto and American Stock Exchanges

_____________________________________________________NEWS ______________________

VISTA GOLD CORP. ANNOUNCES LETTER OF INTENT TO ACQUIRE THE PAREDONES AMARILLOS
GOLD PROJECT

DENVER, COLORADO MAY 29, 2002 - Vista Gold Corp. (TSE; AMEX - VGZ) is pleased
to announce that it has signed a non-binding letter of intent to purchase the
100% interest held by Viceroy Resource Corporation (Viceroy) in the Paredones
Amarillos gold project on the Baja Peninsula, Mexico. Completion of the
transaction is subject to completion of a due diligence review of the project
by Vista, governmental and regulatory approvals, and negotiation and execution
of a definitive purchase agreement.

The total purchase price of Cdn $3 million (approximately U.S. $2 million), will
be payable 50% in cash, with Cdn $1.0 million due at closing and Cdn $0.5
million due one year from closing, and 50% in Vista Gold equity units (the
"Equity Units") consisting of one common share and one warrant to purchase one
common share. The price of the Equity Units will be 90% of the weighted average
closing price of the Corporation's common shares on the five trading days
immediately preceding the date of the definitive purchase agreement. The
warrants will be priced at 125% of the weighted average closing price of the
Corporation's common shares on the five trading days immediately preceding the
date of the definitive purchase agreement.

Based on a resource estimate provided by Viceroy (Ronald G. Simpson, H.B.Sc.,
P. Geo., consulting geologist, Qualified Person) the Paredones Amarillos
project contains measured and indicated resources of 54.3 million tonnes
grading 1.054 grams per tonne gold, containing 1.84 million ounces of gold.
The drilling database contains 302 drill holes comprising 62,525 meters of
drilling. As part of its due diligence, the Corporation will commission an
independent resource study to restate the Paredones Amarillos resources in
compliance with National Instrument 43-101.

"Following the closing of the private placement financing that was announced on
March 20, 2002, we have moved quickly to begin the execution of our stated plan
to build Vista Gold into the premier option-play on gold. The acquisition of
this quality gold resource is an important first step. The acquisition of
Paredones Amarillos would effectively double the size of the Corporation's
available gold resources, and with an acquisition cost just over U.S. $1 per
ounce of gold resource, it represents significant value for our shareholders,"
said Jock McGregor, President and Chief Executive Officer.

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