Vista Gold Corp. Sale of Its Allied Nevada Gold Corp. Shares

Vista Gold Corp. announced that it has sold 1,529,848 shares of Allied Nevada Gold Corp. for approximately US$9.0 million. In May 2007, Vista completed a transaction that resulted in the formation of Allied and the transfer of Vista’s Nevada properties to Allied. The Allied shares sold by Vista were retained by Vista in connection with this transaction to facilitate the payment of any taxes payable by Vista in respect of the transaction. Vista has determined that there are no other taxes payable by Vista in respect of the transaction and made the decision to sell the Allied shares at the appropriate time and use the cash for project development requirements. The proceeds from the sale of the Allied shares will increase the Company’s unaudited cash balance to approximately US$20.5 million.

Fred Earnest, President and COO of Vista, commented, “Since the formation of Allied Nevada Gold Corp. we have watched the progress of Allied’s exploration and development programs. Allied’s success in expanding and identifying new mineral resources at the Hycroft mine is very encouraging to Vista, as we are starting to enjoy similar successes at our Mt. Todd gold project in Northern Territory, Australia. Allied’s recent success in reaching commercial gold production at the Hycroft mine and the completion of a new resource estimate are significant achievements that have had a favorable impact on Allied’s share price. As a result, we decided that this was the appropriate time to convert this working capital asset to cash.”