Vista Gold Corp. Begins Bankable Feasibility Study for Paredones Amarillos Project
14 August 2007 - 12:35AM
PR Newswire (US)
DENVER, Aug. 13 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX) announced today that it has engaged SRK Consulting (US),
Inc. to manage the preparation of a bankable feasibility study for
its Paredones Amarillos Project in Baja California, Mexico. SRK is
engaged to define the scope of work for the various consultants'
studies, review and audit their work, undertake an economic
analysis of the project, and compile and edit the final report.
Fred Earnest, President and COO commented, "We believe that SRK's
role in coordinating and reviewing the work of other qualified
consultants will allow us to capitalize on the collective
experience of many respected experts and will result in a quality
feasibility study. We are pleased to have a company with SRK's
technical expertise on our team." In other news related to the
Paredones Amarillos Project, Vista announced that Arturo Montano
Munguia has been named as the Project Development Manager for the
Paredones Amarillos Project. Mr. Montano is a Mexican national with
over 30 years of mining industry experience with North American and
Mexican mining companies. Mr. Earnest noted, "In the short time
that Arturo has been part of our team, he has quickly assessed the
current project status and begun laying the foundation for the
execution of our development strategy for the Paredones Amarillos
Project." Under Mr. Montano's direction, Vista has retained
Corporacion Ambiental de Mexico, S.A. de C.V. ("CAM") to manage the
environmental permitting activities for the Paredones Amarillos
Project. CAM is a full-service environmental firm headquartered in
Mexico City with experience in mining project permitting in Baja
California. Mike Richings, CEO of Vista stated that, "We believe
these are key first steps taken by Vista toward the development of
the Paredones Amarillos Project. During the coming months we plan
to award contracts for detailed mine planning, process design,
tailings impoundment design and other studies related to the
feasibility design and evaluation process." About Vista Gold Corp.
Since 2001, Vista has acquired a number of proven gold projects
with the expectation that higher gold prices would significantly
increase their value. As gold prices have risen, Vista has
completed various preliminary evaluations that have demonstrated
that some of the projects would be potentially viable operations at
current gold prices. Vista is undertaking technical programs to
bring the most advanced projects to the point where decisions can
be made to put these projects into production, either by Vista, or
through sale or joint venture to other mining companies. Vista's
holdings include the Paredones Amarillos and Guadalupe de los Reyes
Projects in Mexico, Mt. Todd Project in Australia, Yellow Pine
Project in Idaho, Awak Mas Project in Indonesia, Long Valley
Project in California, and the Amayapampa Project in Bolivia. 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 the performance of and results of the planned bankable
feasibility study for the Paredones Amarillos Project, Vista's
future business strategy, competitive strengths, goals, operations,
plans, potential project development, future share price and
valuation, future gold prices, Vista's potential status as a
producer, 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; risks relating to political and
economic instability in certain countries in which it operates; 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 Connie Martinez at (720)
981-1185, or visit the Vista Gold Corp. website at
http://www.vistagold.com/ DATASOURCE: Vista Gold Corp. CONTACT:
Connie Martinez, +1-720-981-1185, for Vista Gold Corp. Web site:
http://www.vistagold.com/
Copyright