Vista Gold Reports Encouraging Potential for Smaller-Scale Development Plan at Mt Todd

About this update from Vista Gold Corp

[{"type":"text","content":"DENVER / Mar 01, 2023 / Business Wire / Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced that work on an internal scoping study for development of the Mt Todd gold project (“Mt Todd” or the “Project”) at a smaller initial scale has delivered promising results. The Company evaluated the technical and economic merits of smaller-scale alternatives that contemplate significantly lower initial capital costs while preserving the opportunity for subsequent expansion or staged development. Vista’s work to date indicates that a nominal 5 million tonne per year project could be designed and constructed with an initial capital expenditure of less than US$350 million for scenarios that include contract mining and would achieve annual production in the range of 150,000 – 200,000 ounces of gold per year. Operating cost analyses suggest that all-in sustaining costs would be higher than those estimated in the Company’s 2022 feasibility study on Mt Todd (the “2022 Feasibility Study”), largely from higher unit costs for the contract mining scenarios and adjustments for inflation, but would remain very competitive in today’s environment. Vista intends to make these results available to potential strategic partners and other parties who have signed confidentiality agreements. Frederick H. Earnest, President and CEO of Vista commented, “We are pleased with the findings of our internal, scoping-level study to evaluate the viability of a smaller-scale project for Mt Todd. The work completed leverages off the 2022 Feasibility Study. Our conservative approach, which includes the use of the 2022 Feasibility Study’s advanced engineering, gives us confidence that a smaller and easier-to-build initial phase of the Project is viable and economically attractive.” For its evaluations, the Company used third-party designs and cost estimates for a 15,000 tonne per day operation that incorporate the effects of cost escalation for the preceding year, developed the mine plan and schedule using only measured and indicated mineral resources as defined in the 2022 Feasibility Study, increased the cutoff grade to deliver a higher head grade to the plant, maintained third-party power generation, and considered both owner-operator and contract mining scenarios. For the purpose of this evaluation, the Company has limited the process...

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