Vista Gold Corp. Announces Completion of Acquisition of Properties Adjacent to the Guadalupe de los Reyes Project in Mexico
25 Januar 2008 - 2:52AM
PR Newswire (US)
DENVER, Jan. 24 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX) is pleased to announce that it has completed the
acquisition of interests in various mineral properties adjacent to
Vista's Guadalupe de los Reyes Project in Sinaloa, Mexico, as
previously announced on December 19, 2007. This acquisition has the
effect of consolidating Vista's land position in this area. The
consideration paid by Vista for the acquisition of these interests
included cash payments totaling US$451,821 and the issuance of a
total of 213,503 common shares of Vista, to various parties.
Additional information regarding this transaction and the
properties acquired by Vista is set out in Vista's December 19,
2007 press release. About Vista Gold Corp. Since 2001, Vista has
acquired a number of gold projects with the expectation that higher
gold prices would significantly increase their value. Vista has
recently completed a preliminary feasibility study on the Paredones
Amarillos Project in Mexico that indicated positive results at gold
prices lower than those now prevailing. Vista plans to confirm
these results with definitive feasibility studies in 2008. Vista is
undertaking programs to advance the Paredones Amarillos Project,
including the purchase of long delivery equipment items, so that
construction can begin during the second half of 2008. The results
of a preliminary assessment completed in 2007 on the Mt. Todd
Project in Australia were encouraging and additional technical
studies are underway with a definitive feasibility study planned
for completion by mid-2009. Vista's other holdings include the
Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in
Idaho, Awak Mas Project in Indonesia, Long Valley Project in
California, and 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 and
forward-looking information within the meaning of Canadian
securities laws. 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 previously announced matters concerning the Guadalupe de los
Reyes property including estimates of gold and silver
mineralization at the property, potential for economic gold and
silver grades and potential to add to gold and silver resource
estimates at the property, potential for open-pit mining at certain
targets in the property, Vista's plans for exploration of the
property, exploration and development opportunities at the
property, potential extensions of known mineralization and
identification of targets for new mineralization at the property,
potential for development of an operating mine at the property,
plans for feasibility studies, preliminary feasibility study
results for the Paredones Amarillos Project, and plans for a
definitive feasibility study and for construction and development
activities at the Paredones Amarillos Project, plans for evaluation
of the Mt. Todd Project including preliminary assessment results
and plans, timing and results for a definitive feasibility study to
be undertaken at the Mt. Todd 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 and
forward-looking information. When used in this press release, the
words "estimate", "plan", "anticipate", "expect", "intend",
"believe" and similar expressions are intended to identify
forward-looking statements and forward-looking information. 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
statements. Such factors include, among others, uncertainty of
preliminary assessment results and of feasibility study results and
estimates on which such results are based; risks relating to
scheduling for feasibility studies; risks relating to cost
increases for capital and operating costs including cost of power;
risks relating to delays in commencement and completion of
construction at the Paredones Amarillos Project; risks of shortages
of equipment or supplies; risks of inability to achieve anticipated
production volume or manage cost increases; 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 and Canadian securities
commissions. Although Vista has attempted to identify important
factors that could cause actual results to differ materially from
those described in forward-looking statements and forward-looking
information, 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 or forward-looking information, 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/
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