Vista Provides Report on Status of Change of Land Use Permit for Paredones Amarillos Project

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[{"type":"text","content":"\n\n\n\nDENVER, May 21 /CNW/ -- Vista Gold Corp. ("Vista") (TSX: VGZ; Amex: VGZ)\nis pleased to report on the status of the Change of Land Use Permit for the\nParedones Amarillos Project in Baja California Sur ("BCS"), Mexico (as\ndescribed in Vista's press releases dated April 30 and May 8, 2008). During\nthe past week, Vista has held a number of meetings with staff from the\nNational Office for the Coordination of Mines in the Department of Economy,\nEnvironmental and Natural Resource Service (SEMARNAT) and the National\nCommission for Natural Protected Areas (CONANP), the Governor of BCS, and\nvarious state officials. Based on discussions with government staff and\nofficials at these meetings and advice from Vista's advisors, management is\nconfident that the outstanding issues relating to the status of the Change of\nLand Use Permit will be resolved favorably over the next few months. Assuming\nfavorable results from the definitive feasibility study and completion of\nproject financing, construction of the Paredones Amarillos Project is\ncurrently planned to start before the end of 2008, with first gold production\nplanned to commence before the end of 2009.\n\n\nVista reported that in these meetings the Secretary of SEMARNAT indicated\nthat he supported the earlier opinion issued by the BCS office of SEMARNAT\nthat the Change of Land Use Permit issued in 1997 had expired. However, the\nSecretary also indicated that he recognized the importance of the Project and\nwould commit his department to promptly process an application for a new\nChange of Land Use Permit. The application requires a number of prerequisite\nsteps which Vista is undertaking with the cooperation of the National Office\nfor the Coordination of Mines, and the payment of a fee (based on the size of\nthe area affected by the Project) which Vista intends to make. Vista's legal\ncounsel in Mexico remains of the view that the original permit is valid and\nhas advised Vista to proceed with a judicial appeal of the opinion issued by\nthe BCS office of SEMARNAT to preserve certain legal rights, but has also\nrecommended that a new application is likely to be the most expeditious way to\nobtain the necessary approvals.\n\n\nFred Earnest, President and COO, attended the meetings and commented, "It\nis evident to us that there is a lot of goo...

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