Vista Gold Corp. Updates Status of Permit for Paredones Amarillos Project

About this update from Vista Gold Corp

[{"type":"text","content":"\n\n\n\nDENVER, May 8 /CNW/ -- Vista Gold Corp. ("Vista") (Amex: VGZ; TSX)\nannounced that its advisors and counsel in Mexico have confirmed their view\nthat the Change of Land Use Permit for the Paredones Amarillos Project remains\nvalid. Vista is currently evaluating the options for validation of the\npermit, which include initiating legal or administrative action seeking the\nannulment of the opinion rendered by the La Paz office of the Mexican\nEnvironmental and Natural Resource Service (SEMARNAT) (referred to in Vista's\npress release dated April 30, 2008). Management has held meetings with senior\ngovernment officials in Baja California Sur in the last week and will be\nmeeting with senior government officials in Mexico City in the coming weeks to\nconfirm the status of the permit. Vista's management believes that any\nrelated issues will be resolved without any significant delay to the expected\ntiming for completion of the definitive (bankable) feasibility study or the\nproposed timetable for the development of the Paredones Amarillos Project, but\nwill provide further information as soon as it is in a position to do so.\n\n\nAbout Vista Gold Corp.\n\n\nSince 2001, Vista has acquired a number of gold projects with the\nexpectation that higher gold prices would significantly increase their value.\nVista is undertaking programs to advance the Paredones Amarillos Project,\nincluding the preparation of a definitive feasibility study and the purchase\nof long delivery equipment items, so that construction can begin during the\nlast quarter of 2008. The results of a preliminary assessment completed in\n2007 on the Mt. Todd Project in Australia were encouraging and additional\ntechnical studies are underway with a definitive feasibility study planned for\ncompletion by mid-2009. Vista's other holdings include the Guadalupe de los\nReyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in\nIndonesia, and the Long Valley Project in California.\n\n\nThis press release contains forward-looking statements within the meaning\nof the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934\nand forward-looking information within the meaning of applicable Canadian\nsecurities laws. All statements, other than statements of historical facts,\nincluded in this press release that address activities, e...

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