EXHIBIT 99.1
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 COMPLETION OF RESOURCE STUDY FOR THE YELLOW PINE GOLD
PROJECT, OPTION TO PURCHASE THE PROJECT, AND THIRD QUARTER RESULTS
DENVER, COLORADO NOVEMBER 19, 2003 - Vista Gold Corp. (TSX & AMEX: VGZ) is
pleased to announce that it has completed its due diligence review of the Yellow
Pine gold project, and it has been provided with a nine year option to purchase
100% of this project for US$1,000,000 pursuant to the terms of an Option to
Purchase Agreement between an indirect, wholly-owned subsidiary of Vista and
Bradley Mining Company.
The agreement calls for Vista to make an option payment of US$100,000 upon both
parties executing the agreement and nine yearly payments of US$100,000 on or
before each anniversary date of the agreement, for a total option payment price
of US$1,000,000. If Vista decides to exercise its option to purchase the
project, all option payments shall be applied as a credit against the purchase
price of US$1,000,000. Vista has the right to terminate the agreement at any
time in accordance with the terms of the agreement without penalty.
The Yellow Pine gold project, comprised of 17 patented mining claims and
covering about 304 acres, is located 60 miles east of McCall, Idaho, in Valley
County. Eleven of the claims are subject to an underlying 5% NSR type royalty.
Due diligence included completion of a resource study following Canadian
National Instrument 43-101 standards. The study was performed by Pincock, Allen
& Holt, of Denver, Colorado, an independent consulting firm, under the
supervision of Mr. Mark Stevens, C.P.G., Qualified Person. Resources were
calculated using industry-standard block modeling software. Based on the study,
mineral resources(1) above a 0.025 opt gold cut-off are:
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SHORT TONS GOLD GRADE CONTAINED OUNCES
TROY OZ/TON
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Measured and Indicated(2) 33,835,000 0.066 2,218,000
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Inferred(3) 16,047,000 0.051 819,000
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(1) Mineral resources, which are not mineable reserves, do not have
demonstrated economic viability.
(2) CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF MEASURED AND
INDICATED RESOURCES: This table uses the terms "measured and indicated
resources". We advise U.S. investors that while these terms are
recognized and required by Canadian regulations, the U.S. Securities
and Exchange Commission does not recognize them. 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.
(3) CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF INFERRED
RESOURCES: This table uses the term "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 MINEABLE.
Resources were calculated using data from 538 reverse circulation and core drill
holes, totaling 120,922 feet. These predominantly sulfide-type gold resources
are open to expansion both laterally and at depth. Gold is associated with
silver, antimony and tungsten mineralization.
"The option to purchase the Yellow Pine project represents a significant
addition to Vista's gold resource base," said Jock McGregor, President and CEO.
"This is an ideal project for Vista because the value will be enhanced not only
by a rising gold price, but also by the recent and continuing advances in
metallurgical treatment techniques for gold in sulfides."
With respect to third quarter results, the Corporation reported a loss of $0.5
million ($0.04 per share) compared to a loss of $0.4 million ($0.06 per share)
for the same period in 2002. The increase in costs is principally a result of
increased investor relations, business development activities and property
evaluation costs.
Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold
projects with defined gold resources. Additional exploration and technical
studies are undertaken to maximize the value of the projects for eventual
development. The Corporation's holdings include the Maverick Springs, Mountain
View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long
Valley project in California, the Yellow Pine project in Idaho, the Paredones
Amarillos and Guadalupe De Los Reyes projects in Mexico, 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-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 at (720) 981-1185, or
visit the Vista Gold Corp. website at www.vistagold.com
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