DENVER, April 16, 2013 /CNW/ - 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.