EXHIBIT 99.1


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

                                        Trading Symbol: VGZ
                                        Toronto and American Stock Exchanges

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VISTA GOLD CORP. ANNOUNCES LETTER OF INTENT TO ACQUIRE NEWMONT PROJECTS

DENVER, COLORADO SEPTEMBER 3, 2002 - Vista Gold Corp. (TSX & AMEX: VGZ) is
pleased to announce that it has signed a non-binding letter of intent to
purchase a 100% interest in two Nevada gold projects currently controlled by
Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC). Completion of the
transaction is subject to a due diligence review of the projects by Vista,
governmental and regulatory approvals, and negotiation and execution of a
definitive purchase agreement, with closing expected in October.

The first project, Maverick Springs, is a Carlin-type deposit containing both
gold and silver, located near Elko, Nevada. The second project, Mountain View,
is located about 40 miles west of the Corporation's Hycroft mine near
Winnemucca, Nevada. Both projects have sufficient drilling completed on them to
support a measured and indicated resource calculation, and an independent
consultant will be commissioned to prepare a resource report in compliance with
National Instrument 43-101.

Under the terms of the letter of intent, the total purchase price for both
projects includes Vista assuming all of Newmont's obligations with respect to
the properties, including work commitments, and paying Newmont US$1.5 million.
Vista would pay Newmont $300,000 in cash and issue $700,000 in Equity Units
(defined below), at closing, with pricing based on the weighted average closing
price of the Corporation's common shares on the 10 trading days immediately
preceding the date of the definitive purchase agreement. On the first
anniversary of the closing, the Corporation would issue $500,000 in Equity
Units, with pricing based on the weighted average closing price of the
Corporation's common shares on the 10 trading days immediately preceding the
first anniversary date. Vista Gold equity units (the "Equity Units") will
consist of one common share and one warrant to purchase one common share. The
warrants in both installments will have a two-year term and will be priced at
125% of the respective Equity Unit valuation. In addition, Newmont, at its
option, would retain either a 1 1/2% net smelter returns royalty or the right to
acquire 51% of either or both projects, after four years, by paying Vista cash
equaling 200% of the expenditures made by Vista on the related property. In the
latter event, Newmont would become operator of a joint venture with Vista and
both parties would fund the project through to a production decision with
Vista's contribution to the joint venture during this period capped at $2.0
million. As part of the transaction, Vista would also agree to complete at least
20,000 feet of drilling at the Maverick Springs project and 4,000 feet of
drilling at the Mountain View project, within two years of closing. Vista would
also grant Newmont a right of first refusal with respect to subsequent sale of
the projects by Vista.

"I am very excited about these acquisitions for several reasons," said Jock
McGregor President and CEO, "these are high quality assets as demonstrated by
the fact that Newmont insisted on maintaining a "back-in" provision and we look
forward to developing them to their full potential. In addition, the nature of
our agreement will encourage a long-term working relationship with Newmont which
will be facilitated by the fact that we are both Denver-based companies.
Finally, I am delighted that Newmont, the world's largest gold producer, has
decided to take an equity position in our company and become a Vista Gold
shareholder."

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




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-KSB, 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