[VISTA GOLD CORP. LETTERHEAD]
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 COMPLETION OF THE TECHNICAL STUDY ON MAVERICK SPRINGS
AND MOUNTAIN VIEW PROJECTS
DENVER, COLORADO NOVEMBER 5, 2002 - Vista Gold Corp. (TSX & AMEX: VGZ) is
pleased to announce that independent technical studies of the Maverick Springs
and Mountain View gold projects in Nevada have been completed by Snowden Mining
Industry Consultants of Vancouver, British Columbia and the related technical
reports, in compliance with Canadian National Instrument 43-101, have been
completed. Vista Gold Corp. recently acquired these projects from Newmont Mining
Corporation (NYSE & ASX: NEM; TSX: NMC) as announced October 8th.
Geological resources as of October 24, 2002 above a 0.005 ounces per ton cut-off
for gold at the Maverick Springs project are:
- ------------------------------------- ---------------- -------------------------------
Gold
- ------------------------------------- ---------------- -------------------------------
Tons (000's) Grade Contained
(o.p.t.) Ounces
- ------------------------------------- ---------------- ----------- -------------------
Indicated resources 1 29,181 0.012 350,000
- ------------------------------------- ---------------- ----------- -------------------
Inferred resources 2 67,905 0.011 747,000
- ------------------------------------- ---------------- ----------- -------------------
Geological resources as of October 24, 2002 above a 0.50 ounces per ton cut-off
for silver at the Maverick Springs project are:
- ------------------------------------- ---------------- -------------------------------
Silver
- ------------------------------------- ---------------- -------------------------------
Tons (000's) Grade Contained
(o.p.t.) Ounces
- ------------------------------------- ---------------- ----------- -------------------
Indicated resources 1 27,391 1.18 32,321,000
- ------------------------------------- ---------------- ----------- -------------------
Inferred resources 2 56,840 1.21 68,776,000
- ------------------------------------- ---------------- ----------- -------------------
Geological resources as of November 4, 2002 above a 0.006 ounces per ton cut-off
for gold at the Mountain View project are:
- ------------------------------------- ---------------- -------------------------------
Gold
- ------------------------------------- ---------------- -------------------------------
Tons (000's) Grade Contained
(o.p.t.) Ounces
- ------------------------------------- ---------------- ----------- -------------------
Indicated resources 1 23,219 0.013 298,000
- ------------------------------------- ---------------- ----------- -------------------
Inferred resources 2 4,466 0.039 175,000
- ------------------------------------- ---------------- ----------- -------------------
_______________________________________________________________________________
"I am delighted that the technical review of these projects has confirmed our
initial estimates, and we are optimistic that the drill program, which is
currently underway at Maverick Springs, will further add to these resources,"
said Jock McGregor, President and CEO. "At a cost of about $1 per ounce of gold
resource, these projects represent very good value for our shareholders. In
addition, discussions are currently underway to realize additional value from
the Maverick Springs silver resources."
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, the Maverick Springs and the
Mountain View projects in Nevada, the Amayapampa project in Bolivia, and
exploration projects in North and South America.
1 CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF INDICATED RESOURCES:
This table uses the term "indicated resources". We advise U.S. investors that
while this term is recognized and required by Canadian regulations, the U.S.
Securities and Exchange Commission does not recognize it. U.S. INVESTORS ARE
CAUTIONED NOT TO ASSUME THAT ANY PART OR ALL OF MINERAL DEPOSITS IN THIS
CATEGORY WILL EVER BE CONVERTED INTO RESERVES.
2 CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF INFERRED RESOURCES:
This table uses the terms "inferred resources". We advise U.S. investors that
while this term is recognized and required by Canadian regulations, the U.S.
Securities and Exchange Commission does not recognize it. "Inferred resources"
have a great amount of uncertainty as to their existence, and great uncertainty
as to their economic and legal feasibility. It cannot be assumed that all or any
part of an inferred mineral resource will ever be upgraded to a higher category.
Under Canadian rules, estimates of inferred mineral resources may not form the
basis of a feasibility or other economic study. U.S. INVESTORS ARE CAUTIONED NOT
TO ASSUME THAT ANY PART OR ALL OF AN INFERRED RESOURCE EXISTS OR IS ECONOMICALLY
OR LEGALLY MINABLE.
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.