Slide 1: The Mt Todd Gold Project Feasibility Study
Feasibility Study Presentation | March 2024 NYSE American | TSX: VGZ The Mt Todd Gold Project Feasibility Study Delivering 7 Moz over 16 Years
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Summary: If you are risk-averse you should NOT buy shares in Vista Gold Corp. Unexpected events happen and may estimated or intended. Except as required by law, we assume no obligation to publicly update any forward-looking change forecasts and targets. This presentation should
Slide 3: World-Class Development Stage Opportunity in Australia
WORLD-CLASS DEVELOPMENT STAGE OPPORTUNITY IN AUSTRALIA 2024 Updated Feasibility Study Complete All Key Operating and Environmental Permits Approved Exceptional Scale 7 Moz gold reserve1 LOM average gold production of 395,000 oz/year 16-year mine life and multiple targets for extension Robust Economi
Slide 4: Mt Todd 2024 Updated Feasibility Study
MT TODD 2024 UPDATED FEASIBILITY STUDY Proven and probable reserves - 6.98 million ounces of gold 280.4 million tonnes at 0.77 grams Au/tonne (g Au/t) Reserve estimates conservatively based on $1,500 Au price and 0.35 g Au/t cut- off grade Economics1 reflect Q1 2024 costs including recent inflationa
Slide 5: Mt Todd 2024 Updated Feasibility Study Summary
MT TODD 2024 UPDATED FEASIBILITY STUDY SUMMARY 50,000 tpd Project (US$) Gold Price - US$1,800/oz Years 1-7 Life of Mine Initial CAPEX ($ millions) -NA- $1,030 Sustaining CAPEX, Net ($ millions) $467 $716 (1) Nominal Throughput (millions tpa) 17.75 17.75 (2) Gold Grade (g Au/t) 1.01 0.84 Gold Recover
Slide 6: Proven and Probable Reserves
Proven and Probable Reserves Mineable Reserves – 6.98 million ounces No change to the mineral resource or mineral reserve estimates $1,500 per ounce used to develop the ultimate pit. Given the current gold price environment, this is a conservatively priced reserve pit. Used cutoff grade of 0.35 g Au
Slide 7: Gold Production Profile – 7 Moz Payable Gold
GOLD PRODUCTION PROFILE – 7 Moz PAYABLE GOLD Existing and prospective exploration targets to improve gold production and further FRESH WATER extend mine RESERVOIR life TAILINGS STORAGE FACILITY BATMAN PIT PLANT SITE HEAP LEACH PAD WASTE ROCK DUMP WATER RETENTION POND NYSE American and TSX: VGZ | www
Slide 8: Mt Todd Site Layout and Ultimate Pit
MT TODD SITE LAYOUT AND ULTIMATE PIT TSF 2 FRESH WATER RESERVOIR TAILINGS STORAGE FACILITY BATMAN PIT TSF 1 HEAP LEACH PAD PLANT SITE Plant Site Waste Rock WASTE ROCK Dump DUMP Pit WATER RETENTION POND NYSE American and TSX: VGZ | www.vistagold.com 7
Slide 9: Process Plant
PROCESS PLANT Operational flexibility designed into circuit - crushers (gyratory, cones and HPGRs) are next size larger than manufacturer recommendation Ore sorting reduces feed to grinding circuit by ̴10% with less than 1% gold loss 2-stage grinding circuit produces final product of 80% passing 40
Slide 10: 3rd Party Power Generation
3RD PARTY POWER GENERATION Trade-off study assessed the potential advantages of a 3rd party owner/operator for the power plant The study identified a number of highly-credentialled, well-capitalized power generating companies who provide on-site power solutions 3rd party power generation insulates t
Slide 11: Gold Sales vs Cash Operating Costs
GOLD SALES VS CASH OPERATING COSTS FRESH WATER RESERVOIR BATMAN PIT PLANT SITE HEAP LEACH PAD WASTE ROCK DUMP WATER RETENTION POND NYSE American and TSX: VGZ | www.vistagold.com 10
Slide 12: After-Tax Cashflow
AFTER-TAX CASHFLOW FRESH WATER RESERVOIR PLANT SITE HEAP LEACH PAD WASTE ROCK DUMP WATER RETENTION POND NYSE American and TSX: VGZ | www.vistagold.com 11
Slide 13: Mt Todd 2024 Updated FS NPV 5% & IRR Sensitivity
MT TODD 2024 UPDATED FS NPV5% & IRR SENSITIVITY Mt Todd demonstrates robust project economics Capital and operating costs Based on Q1 2024 quotes Reflect current inflationary cost increases experienced by all operators in mining industry Project economics demonstrate resilience to these transitory i
Slide 14: Opportunities for Adding Value
OPPORTUNITIES FOR ADDING VALUE Conversion of inferred resources within the current ultimate pit (presently counted as waste) could extend the life of the project The Batman deposit demonstrates modest increases in gold grades with depth and the deposit is open at depth - a significant increase in th
Slide 15: Mt Todd Differentiators
MT TODD DIFFERENTIATORS Tier 1 mining jurisdiction in Northern Territory, Australia Climate and geography well suited to productive, year-round operations 100 meters above sea level and no freezing temperatures All major permits for construction and operation of the mine are approved FRESH WATER Env
Slide 16: Why Invest in Vista Gold
WHY INVEST IN VISTA GOLD Undervalued with Path to Value Realization Feasibility Study delivers 7 million ounce gold reserve1 Compelling economics over 16-year mine life Demonstrated resilience to inflationary trends Safe and Friendly Mining Jurisdiction of Northern Territory, Australia (NT) Fully pe
Slide 17: Appendix
APPENDIX NYSE American and TSX: VGZ | www.vistagold.com 16
Slide 18: Appendix 1: Mt Todd Resource Estimates
Appendix 1: MT TODD RESOURCE ESTIMATES Mt Todd Gold Project- Mineral Resources Batman Deposit Heap Leach Pad Quigleys Deposit Total Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Ounces Ounces Ounces Ounces (000s) (g/t) (000s) (000s) (g/t) (000s) (000s) (
Slide 19: Appendix 2: Mt Todd Reserve Estimates
Appendix 2: MT TODD RESERVE ESTIMATES Mt Todd Gold Project - Mineral Reserves - 50,000 tpd, 0.35g Au/t cutoff and US$1,125 per ounce LG Pit Batman Deposit Heap Leach Pad Total P&P Contained Contained Contained Grade Tonnes Grade Tonnes Grade Tonnes (000) Ounces Ounces Ounces (g/t) (000) (g/t) (000)
Slide 20: Appendix 3: Cash Costs
Appendix 3: CASH COSTS 50,000 tpd Project Years 1-7 Life of Mine Cost Per ore tonne Per ore tonne Operating Cost Per ounce Per ounce processed processed Mining $ 9.61 $ FRESH WATER 356 $ 7.68 $ 341 RESERVOIR Processing $ 10.17 $ 377 $ 10.21 $ 453 Site General and Administrative $ 1.11 $ 41 $ 1.05 $
Slide 21: Appendix 4: Capital Cost Summary
Appendix 4: CAPITAL COST SUMMARY Initial Capital Sustaining Capital Capital Expenditures (millions) 50,000 tpd Project (millions US$) (millions US$) Mining $ 94 $ 584 Process Plant $ 561 $ 33 Project Services $ 57 $ 86 Project Infrastructure $ 49 $ 8 Site Establishment & Early Works $ 27 $ - Managem