Vista Gold Corp. Announces First Quarter Financial Results and Recent Developments

DENVER, May 13 /CNW/ -- Vista Gold Corp.
(Amex: VGZ; Toronto) announced today its financial results for the quarter
ended March 31, 2005, as filed on May 13, 2005, with the US Securities and
Exchange Commission in the Corporation's Quarterly Report on Form 10-Q.  For
the quarter ended March 31, 2005, Vista reported a consolidated net loss of
US$1.0 million or US$0.05 per share compared to a consolidated net loss of
US$1.1 million or US$0.08 per share for the quarter ended March 31, 2004.
Net cash used for operations in the quarter ended March 31, 2005, was
US$0.7 million compared to US$0.4 million for the same period in 2004.  Net
cash used in investing activities in the quarter ended March 31, 2005, was
US$0.3 million compared to US$2.4 million for the same period in 2004.  The
decreased spending in investing activities in the 2005 quarter primarily
reflected the US$2.3 million paid by the Corporation into the reclamation bond
account for the Hycroft mine in Nevada in the 2004 quarter.
The Corporation received net cash from financing activities of
US$0.4 million in the quarter ended March 31, 2005, compared to US$2.2 million
for the same period in 2004, with the amounts in both periods representing
proceeds from the exercise of warrants and options.
The financial position of the Corporation included current assets at March
31, 2005, of US$6.1 million compared to US$6.8 million at December 31, 2004,
and total assets at March 31, 2005, of US$32.2 million compared to
US$32.8 million at December 31, 2004.
Current liabilities were US$0.2 million at March 31, 2005, compared to
US$0.3 million at December 31, 2004.  Total liabilities at March 31, 2005,
were US$4.4 million, approximately the same as at December 31, 2004, and
shareholders' equity at March 31, 2005, was US$27.9 million compared to
US$28.3 million at December 31, 2004.
The Corporation's working capital as of March 31, 2005, was US$5.9 million
compared to US$6.6 million at December 31, 2004.  The financial information
for the first quarter of 2005 is summarized in the following table.



 Selected Financial Data

                                              Three Months Ended March 31,
 U.S. $000's, except loss per share               2005           2004
 Results of operations
 Net loss                                       $(958)         $(1,146)
 Basic and diluted loss per share               (0.05)           (0.08)

 Net cash used in operations                     (692)            (448)
 Net cash used in investing activities           (264)          (2,437)
 Net cash provided by financing activities        398            2,203



 Financial position                           March 31,      December 31,
                                                2005             2004
 Current Assets                                $6,069           $6,826
 Total Assets                                  32,234           32,788
 Current liabilities                              178              256
 Total liabilities                              4,368            4,444
 Shareholders' equity                          27,866           28,344

 Working capital                                5,891            6,570



The annual general meeting of the Corporation's shareholders was held on
May 9, 2005.  Re-elected to the Board of Directors for a one-year term were
John M. Clark, W. Durand Eppler, C. Thomas Ogryzlo, Robert A. Quartermain and
Michael B. Richings.  PricewaterhouseCoopers LLP was re-appointed independent
auditor.  An amendment to the Corporation's Stock Option Plan was approved
increasing the maximum number of Common Shares which may be issued under the
Plan from 1,000,000 Common Shares to 1,750,000 Common Shares.
   On May 12, 2005, in connection with the Corporation's purchase of the Awak
Mas deposit in Indonesia, the Corporation transferred US$1.2 million to an
escrow account to be placed in trust and released to the vendors upon
completion of the final transaction documents.

The statements that are not historical facts are forward-looking
statements involving known and unknown risks and uncertainties that could
cause actual results to vary materially from targeted results.  Such risks and
uncertainties include those described from time to time in the Corporation's
periodic reports, including its latest annual report on Form 10-K filed with
the U.S. Securities and Exchange Commission.  The Corporation 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 Greg Marlier at (720) 981-1185, or
visit the Vista Gold Corp. website at www.vistagold.com