DENVER, April 16, 2013 /PRNewswire/ -- Vista Gold Corp.
(TSX & NYSE MKT: VGZ) ("Vista" or the "Company") is pleased to
announce that the Northern Territory ("NT" or the "Territory")
Government has awarded its Mt. Todd gold project Major Project
Status, signifying the NT Government's support for the timely and
responsible development of the Mt. Todd gold project.
Major Project Status is awarded by the NT Government to projects
that have the potential to provide significant economic
opportunities for the Territory and its citizens. Major
Project Status prospectively provides a process and structure for
decisions regarding matters of importance to the project to be made
in an efficient and timely manner. Major Project Status is
coordinated by a Cabinet-level committee and implementation is
supervised by the office of the Chief Minister, thereby hopefully
minimizing potential for delays in obtaining critical
decisions.
Frederick H. Earnest, President
and CEO of Vista, stated, "I am extremely pleased with the NT
Government's continued support for the redevelopment of the Mt.
Todd gold project. Major Project Status is an indication of
the NT Government's continued focus on the Mt. Todd gold project
and commitment to regional development in the Katherine
region. Areas of shared interest – whether related to the
departments of Mines and Energy, Treasury, Lands and Planning or
Environment – will now be handled at the highest level within the
NT Government, with coordination provided by the office of the
Chief Minister. This decision recognizes the significance of the
project and its benefit to the future development of the Northern
Territory. We look forward to our continued work with the NT
Government in the development of the Mt. Todd gold project."
Separately, Vista announced that it has completed and submitted
a Draft Environmental Impact Statement ("EIS") to the Environmental
Protection Agency of the NT Government ("NTEPA") for review.
The NT Government has encouraged Vista to submit a Draft EIS so
that it can be reviewed for completeness. Mr. Earnest
commented, "The purpose of the review is to identify any possible
omissions in the EIS, prior to its formal submission. The
NTEPA has proposed this review as a way to identify any items that
may require additional study early in the process and to avoid
untimely delays later in the approval process. We anticipate
submitting the final EIS later this quarter and believe that we
remain on track to receive permits around the end of the year."
About Vista Gold Corp.
Vista is focused on the development of the Mt. Todd gold project
in Northern Territory, Australia,
to achieve its goal of becoming a gold producer. Vista has
completed a preliminary economic assessment on its Guadalupe de los Reyes gold/silver project in
Mexico and has granted Invecture
Group, S.A. de C.V. a right to earn a 62.5% interest in the Los
Cardones gold project, in Mexico.
Vista's other holdings include the Awak Mas gold project in
Indonesia, subject to One Asia
Resources Ltd.'s right to earn an 80% interest, and the Long Valley
gold project in California. For
more information about our projects, including technical studies
and resource estimates, please visit our website at
www.vistagold.com.
This press release contains forward-looking statements within
the meaning of the U.S. Securities Act of 1933, as amended, and
U.S. Securities Exchange Act of 1934, as amended, 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, the potential effects of Major Project Status for allowing
project decisions to be made in an efficient and timely manner and
minimizing the potential for delays in obtaining critical
decisions, the anticipated filing date of the final EIS, the
process and expected timing for receipt of permits at the Mt. Todd
gold project , and other such matters are forward-looking
statements and forward-looking information. The material
factors and assumptions used to develop the forward-looking
statements and forward looking information contained in this press
release include the following: our approved business plans,
exploration and assay results, mineral resource and reserve
estimates and results of preliminary economic assessments,
pre-feasibility studies and feasibility studies on our projects, if
any. When used in this press release, the words "optimistic,"
"potential," "indicate," "expect," "intend," "hopes," "believe,"
"may," "will," "if," "anticipate," 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 resource estimates, estimates
of results based on such resource estimates; risks related to
project decision making processes of the NT Government changing or
taking longer than expected, risks related to the review of the
Draft EIS, risks related to the completion and submission of the
Final EIS, risks related to delays in obtaining final permits at
the Mt. Todd gold project , risks of shortages and fluctuating
costs of equipment or supplies; risks relating to fluctuations in
the price of gold; the inherently hazardous nature of
mining-related activities; 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; as
well as those factors discussed under the headings "Note Regarding
Forward-Looking Statements" and "Risk Factors" in Vista's latest
Annual Report on Form 10-K as filed on March
14, 2013 and other documents filed with the U.S. Securities
and Exchange Commission and Canadian securities regulatory
authorities. 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.
Except as required by law, 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 www.vistagold.com.
SOURCE Vista Gold Corp.