Vista Gold Corp. Announces Proposed U.S. $7.8 Million Private Placement

DENVER, Aug. 26 /CNW/ -- Vista Gold Corp.
(Amex: VGZ; Toronto) announces that, subject to regulatory approval, it plans
to undertake a private placement financing which, if completed, will raise
gross proceeds of up to approximately U.S. $7.8 million from the sale of up to
2.16 million units priced at U.S. $3.60 per unit.  The proceeds will be used
for the acquisition of additional projects, if suitable opportunities arise,
maintenance and evaluation of current projects and on-going administration
costs.  Each unit will consist of one common share and one warrant.  Each
warrant will entitle the holder to acquire one common share at an exercise
price of U.S. $4.10 for a period of two years from the date of issue.
The terms of the private placement will require Vista to register for
resale, under the U.S. Securities Act of 1933, the common shares issued in the
placement, as well as the common shares issuable upon the exercise of
warrants.  Starting six months after the share registration date, if the
closing price of Vista's common shares on the American Stock Exchange is U.S.
$5.40 or more for a period of 20 consecutive trading days, then for 15
business days Vista will have the option to request that the warrants be
exercised.  If the warrants are not exercised within 15 business days
following this request, they will be cancelled.
The Corporation will pay a cash finder's fee equal to 6% of the gross
proceeds of the private placement and a finder's fee payable in warrants in
number equivalent to 10% of the number of units issued in the private
placement.
The securities described above have not been registered under the U.S.
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.

Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires
gold projects with defined gold resources.  Additional exploration and
technical studies are undertaken to maximize the value of the projects for
eventual development.  The Corporation's holdings include the Maverick
Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft
mine, all in Nevada, the Long Valley project in California, the Yellow Pine
project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects
in Mexico, the Amayapampa project in Bolivia and the Awak Mas project in
Indonesia.

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