Vista Gold Corp · AMEX:VGZ
Vista Gold — Merger or Acquisition (September 2026)
26 slides from Vista Gold's merger presentation, Sep 21, 2026
Slide 1: Business Combination with Artemis Gold Inc.
NYSE American & TSX VGZ BUSINESS COMBINATION WITH ARTEMIS GOLD INC. Transaction Presentation | September 21, 2026
Slide 2: Cautionary Note Regarding Forward-Looking Information
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Summary: If you are risk-averse you should not buy shares in Vista Gold Corp. (“we”, “us”, “our”, the “Company” or “Vista identify important factors that could affect them and may cause actual actions, events, or results to differ materially from
Slide 3: Cautionary Note Regarding Forward-Looking Information
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Vista Gold Qualified Person Sources for all references to the 2025 Feasibility Study throughout this presentation: All scientific and technical information related to the 2025 Updated Feasibility Study contained herein has been S-K 1300 Technical
Slide 4: Transaction Highlights
TRANSACTION HIGHLIGHTS Combination with Artemis delivers Vista shareholders an immediate premium and de-risked exposure to growth from Blackwater and Mt Todd Immediate premium and compelling value: Consideration represents a 29% premium based on the 20-day VWAPs for each of Artemis and Vista, and a
Slide 5: Transaction Summary
TRANSACTION SUMMARY Artemis to acquire Vista through a court-approved Plan of Arrangement Vista shareholders to hold approximately 5% of Artemis post closing Artemis to acquire 100% of the issued and outstanding common shares of Vista pursuant to a court-approved Plan of Arrangement Transaction The
Slide 6: Indicative Transaction Timetable
INDICATIVE TRANSACTION TIMETABLE Transaction completion estimated to occur in January 2027 Event Indicative Timing Transaction Announcement September 21, 2026 Definitive proxy statement mailed to Vista shareholders November 2026 Vista shareholder meeting to consider the Transaction December 2026 Tra
Slide 7: Introduction to Artemis
INTRODUCTION TO ARTEMIS Artemis is a leading TSX-V listed intermediate producer Operating and Expanding the world-class Blackwater mine in British Columbia Artemis is a US$7.1bn market capitalisation gold producer operating and expanding its world-class Blackwater mine in British Columbia, Canada Bl
Slide 8: Blackwater and Beyond
BLACKWATER AND BEYOND Phase 1A and EP2 Expansions to take Blackwater to 500+koz pa Potential for further growth from district-scale exploration potential Staged Development of Blackwater Gold Produced (koz) • Phase 1 commissioned Q3 2025 at 6 Mtpa +165% • Phase 1A 57% complete, lifting capacity 33%
Slide 9: Blackwater and Beyond: Committed Growth Plans
BLACKWATER AND BEYOND Artemis intends1 to sequence Mt Todd development to dovetail with completion of Blackwater EP2 Expansion and Optimization 2026 2027 2028 2029 2030 2031 2032 Phase 1A Blackwater Indicated Timeline “Committed Growth Plans” Plant Construction Phase 1A Mt Todd Commissioning Artemis
Slide 10: Artemis Management
ARTEMIS MANAGEMENT Artemis brings a highly credentialled management team with directly relevant project development and construction track record Steven Dean Dale Andres Jeremy Langford Erik Marchand Tony Scott Candice Alderson Founder & Executive Chair CEO and Director President CFO & Company Secre
Slide 11: Appendix
NYSE American & TSX VGZ APPENDIX VGZ | VISTA GOLD 10
Slide 12: Why Mt Todd?
WHY MT TODD? Development-stage Project that Appeals to Investors and Strategic Partners Scarcity of Large Deposits in Favorable Mining Jurisdictions “Too Big to Ignore” Opportunity for Resource Growth District-Scale Exploration Potential Designed for Future Expansion 11
Slide 13: Vista Gold Corp
VISTA GOLD CORP Realizing Shareholder Value through Disciplined Execution Mt Todd is among the 2025 Feasibility Study for 15 ktpd largest development operation confirms strong stage projects in economics and preserves Australia expansion optionality 2026 key work programs Driving outcomes to achieve
Slide 14: Mining and Processing
MT TODD GOLD PROJECT MINING AND PROCESSING Fit for Purpose Design Supports Conventional Australian Mine and Plant Operations 1 Mining Overview Processing • Conventional truck and excavator open pit operation • Stockpiling used to deliver higher and consistent grades • Drill and blast on 12-meter ben
Slide 15: Conventional Gold Recovery Circuit
MT TODD GOLD PROJECT CONVENTIONAL GOLD RECOVERY CIRCUIT 14
Slide 16: Exploration
MT TODD GOLD PROJECT EXPLORATION Mining Leases and Exploration Licenses • Four mining leases (MLs) 55 km2 • Four exploration licenses (ELs) 1,337 km2 Batman deposit and other previously mined open pits. Section is not representative of location and scale. 15
Slide 17: Exploration
MT TODD GOLD PROJECT EXPLORATION District-Scale Exploration Potential 1,337 km2 Contiguous Exploration Licenses • Largely unexplored, host to known occurrences of precious and base metals, and highly prospective for new discoveries Prior Drilling within Boundaries of Mining Leases • Identified four
Slide 18: Committed to Sustainable and Socially Responsible Development
MT TODD GOLD PROJECT COMMITTED TO SUSTAINABLE AND SOCIALLY RESPONSIBLE DEVELOPMENT Environmental Social • Transparent environmental management programs with • Committed to health, well being, and safety online site water management data of our employees and contractors • Successful collection, stora
Slide 19: Experienced Board of Directors
VISTA GOLD CORP EXPERIENCED BOARD OF DIRECTORS Disciplined Execution Backed by Experienced Mining and Finance Leadership Tracy Stevenson John Clark Frederick Earnest Deborah J. Patrick Keenan Mike Sylvestre Chair Compensation President, Friedman Audit Committee HSE&SR Committee Chair Committee Chair
Slide 20: Highly Qualified Management Team
VISTA GOLD CORP HIGHLY QUALIFIED MANAGEMENT TEAM Proven Track Record of Exploration, Development and Operation Successes Frederick H. Earnest Douglas L. Tobler Pamela A. Solly President, CEO and Director Chief Financial Officer Vice President, Investor Relations CEO since January 2012 More than 40 y
Slide 21: Vista Gold Australia Pty Ltd.
VISTA GOLD AUSTRALIA PTY LTD. VISTA GOLD AUSTRALIA PTY LTD. Strengthening Executive Project Execution Capabilities in Perth and NT Gavin Ferguson Jeff Dang Sharon Goddard Julie Jones Managing Director Executive General Manager, Executive General Manager, External General Counsel and Company Projects
Slide 22: Mineral Resources and Mineral Reserves
MT TODD GOLD PROJECT MINERAL RESOURCES AND MINERAL RESERVES Increased Reserve Grade by 23% – 1.04 g Au/t Years 1-15 and 0.97 g Au/t LOM Mineral Resources Estimate1 Mineral Reserves Estimate2 • M & I gold resources now exceed 9 Moz • Proven and probable – 5.2 Moz at raised cutoff grade of 0.50 g Au/t
Slide 23: Mineral Resources Estimate
MT TODD GOLD PROJECT MINERAL RESOURCES ESTIMATE Mt Todd Gold Project - Mineral Resources 0.40 g Au/t Cutoff and US$1,950 per ounce Batman Deposit Heap Leach Pad Quigleys Deposit TOTAL Contained Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces Oun
Slide 24: Mineral Reserves Estimate
MT TODD GOLD PROJECT MINERAL RESERVES ESTIMATE Mt Todd Gold Project – Mineral Reserves 0.50 g Au/t Cutoff and US$1,800 per gold ounce Batman Deposit Heap Leach Pad Total Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000) (g Au/t) (000) (g Au/t) (000) (g A
Slide 25: 15 ktpd Feasibility Study Results Summary
MT TODD GOLD PROJECT 15 KTPD FEASIBILITY STUDY RESULTS SUMMARY YEARS 1-15 LIFE OF MINE 1 Average Annual Gold Production koz 153 146 Gold Grade (ROM feed) 2 g Au/t 1.04 0.97 Gold Recovery (ROM) 2 % 88.6% 88.5% Total Gold Production koz 2,298 4,368 Cash Costs $/oz $1,399 $1,413 All-in Sustaining Costs
Slide 26: Contact
NYSE American & TSX VGZ Contact Pamela A. Solly Vice President of Investor Relations Phone: (720) 877-0132 Email: psolly@vistagold.com NYSE AMERICAN & TSX: VGZ www.vistagold.com