Vista Gold Corp. Updates Status of Permit for Paredones Amarillos Project
09 Mai 2008 - 1:16AM
PR Newswire (US)
DENVER, May 8 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista")
(Amex: VGZ; TSX) announced that its advisors and counsel in Mexico
have confirmed their view that the Change of Land Use Permit for
the Paredones Amarillos Project remains valid. Vista is currently
evaluating the options for validation of the permit, which include
initiating legal or administrative action seeking the annulment of
the opinion rendered by the La Paz office of the Mexican
Environmental and Natural Resource Service (SEMARNAT) (referred to
in Vista's press release dated April 30, 2008). Management has held
meetings with senior government officials in Baja California Sur in
the last week and will be meeting with senior government officials
in Mexico City in the coming weeks to confirm the status of the
permit. Vista's management believes that any related issues will be
resolved without any significant delay to the expected timing for
completion of the definitive (bankable) feasibility study or the
proposed timetable for the development of the Paredones Amarillos
Project, but will provide further information as soon as it is in a
position to do so. 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 is
undertaking programs to advance the Paredones Amarillos Project,
including the preparation of a definitive feasibility study and the
purchase of long delivery equipment items, so that construction can
begin during the last quarter 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, and the Long Valley Project in California. 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
applicable 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 contemplated development scenarios for the Paredones Amarillos
Project; progress, scheduling and the performance and results of
feasibility studies including the ongoing bankable feasibility
study for the Paredones Amarillos Project; status of permits for
the Project and anticipated timing of commencement of construction
and commencement of production at the Paredones Amarillos Project;
plans for a feasibility study 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.
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 relating to delays and incurrence of additional costs in
connection with the feasibility study underway at our Paredones
Amarillos Project; uncertainty of feasibility study results and
preliminary assessments and of estimates on which such results are
based; risks relating to delays in commencement and completion of
construction at the Paredones Amarillos Project; risks of
significant cost increases; risks of shortages of equipment or
supplies; 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;
uncertainty of being able to raise capital on favorable terms or at
all; and external risks relating to the economy and credit markets
in general; as well as those factors discussed in Vista's latest
Annual Report on Form 10-K 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, 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. Except as
required by law, 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 of Vista Gold Corp., +1-720-981-1185 Web
site: http://www.vistagold.com/
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