Vista Gold’s Transformative Year: 2024 Review of Cost-Efficient Growth and a Promising Outlook for Mount Todd

About Vista Gold

Vista Gold Corp., a leading development-stage mining company, is focused on unlocking the potential of its flagship Mount Todd gold project in Northern Territory, Australia. With significant resources and robust economic metrics, Mount Todd is poised to become a top-tier gold project. Vista Gold's 2024 efforts reflect its commitment to reducing costs, optimizing development, and enhancing stakeholder value.

Corporate Developments

• Feasibility Study Launch: Vista Gold initiated a feasibility study to evaluate a streamlined 15,000 tonnes per day (tpd) operation, targeting an initial capex of $400 million—a 60% reduction from the original $1 billion estimate.
• Received second and third (and final) instalment payment of a combined $17 million under the royalty agreement between Vista and Wheaton Precious Metals to advance Mount Todd
• Published inaugural ESG report in March 2024.

Operational Highlights

• Optimized Mine Design: Transitioned to a smaller-scale development with higher-grade throughput, enhancing project returns and feasibility.
  • Targeted annual production: 150,000-200,000 ounces of gold.
  • Projected mine life: Over 30 years with potential expansions.
• Permits and Readiness: Mount Todd remains fully permitted and ready to transition to construction, shortening timelines and reducing risk.
• Exploration Success: Drilling at South Crossload revealed high-grade gold intercepts, indicating potential underground mining opportunities.

Financial Performance

• Cost Reduction: Vista Gold's innovative $600M reduction in development costs stands out, demonstrating Vista Gold's disciplined approach to capital allocation.
• Market Capitalization: As of December 2024, the company’s market cap stood at $73.7 million, with $19 million in cash and no debt, reflecting financial stability.
• Improved Economics: With all-in sustaining costs (AISC) now projected at $1,200-$1,250/oz, Mount Todd is competitive against global peers, ensuring profitability at current gold prices.

Outlook for 2025

Vista Gold anticipates significant milestones in 2025:

• Completion of Feasibility Study: Results expected mid-year to solidify Mount Todd’s new development pathway.
• Enhanced Investor Interest: Rising gold prices and diminishing global reserves position Vista Gold for strategic partnerships or M&A opportunities.
• Resource Growth: Continued exploration efforts may expand Mount Todd’s resource base, supporting future production growth.

With gold prices forecasted to exceed $3,000/oz in 2025, Vista Gold’s efforts to de-risk and enhance Mount Todd's economics will likely yield strong returns.

Conclusion

Vista Gold's disciplined strategy has transformed Mount Todd into one of the most promising gold development projects globally. By cutting costs, improving project readiness, and maintaining strong community and investor relationships, Vista Gold is well-positioned for success in the competitive gold mining sector. The year 2024 set the stage for significant achievements, with 2025 poised to deliver further value for stakeholders.