Vista Announces Loan Agreement With Luzon Minerals Ltd.
23 Dezember 2006 - 2:34AM
PR Newswire (US)
DENVER, Dec. 22 /PRNewswire-FirstCall/ -- Vista Gold Corp.
(AMEX:VGZ) Toronto ("Vista") announced today that, subject to a
number of conditions, it has agreed to loan up to U.S.$200,000 by
way of a 90 day term loan to Luzon Minerals Ltd. (CDNX:LZN)
("Luzon") for Luzon to pay down debts already incurred and ongoing
expenses in connection with the Amayapampa Project and Luzon's
Lipichi project both located in Bolivia. In addition, Vista
recently entered into a letter of understanding with Luzon and
Republic Gold Limited (Luzon's strategic partner) to reconstitute
the affairs of Luzon to ensure that Luzon's strategic development
is advanced in the best interest of its shareholders. As part of
Luzon's reconstitution, Michael Richings, the President and Chief
Executive Officer of Vista, has agreed to be appointed as a
director of Luzon. As previously announced, Vista entered into an
agreement with Luzon pursuant to which Vista agreed to sell its
interest in the Amayapampa Project to Luzon. Vista, 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. Vista's holdings include the Maverick
Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects,
the F.W. Lewis, Inc. properties and the Hycroft mine, all 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, the Amayapampa project in Bolivia, the
Awak Mas project in Indonesia, and the Mt. Todd project in
Australia. This press release contains forward-looking statements
within the meaning of the U.S. Securities Act of 1933 and U.S.
Securities Exchange Act of 1934. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that Vista expects or
anticipates will or may occur in the future, including such things
as future business strategy, competitive strengths, goals,
operations, plans and other such matters are forward-looking
statements. When used in this press release, the words "estimate",
"plan", "anticipate", "expect", "intend", "believe" and similar
expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of Vista to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others,
risks that Vista's acquisition, exploration and property
advancement efforts will not be successful; risks relating to
fluctuations in the price of gold; the inherently hazardous nature
of mining-related activities; uncertainties concerning reserve and
resource estimates; potential effects on Vista's operations of
environmental regulations in the countries in which it operates;
risks due to legal proceedings; and uncertainty of being able to
raise capital on favorable terms or at all; as well as those
factors discussed in Vista's latest Annual Report on Form 10-K and
Quarterly Report on Form 10-Q and other documents filed with the
U.S. Securities and Exchange Commission. Although Vista has
attempted to identify important factors that could cause actual
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Vista 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 Greg Marlier at (720) 981-1185, or
visit the Vista Gold Corp. website at http://www.vistagold.com/
DATASOURCE: Vista Gold Corp. CONTACT: Greg Marlier of Vista Gold
Corp., +1-720-981-1185 Web site: http://www.vistagold.com/
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