Vista Gold Highlights Mt Todd Progress and Announces Participation in Australia’s Diggers & Dealers Mining Forum

DENVER--(BUSINESS WIRE)--Vista Gold Corp. (NYSE American and TSX: VGZ) today provided an update on its Mt Todd gold project ("Mt Todd" or the "Project") in Australia's Northern Territory and announced the Company’s participation in the Diggers & Dealers Mining Forum in Kalgoorlie, Western Australia.

Frederick H. Earnest, President and CEO of Vista Gold, commented, "Since announcing the results of the 2025 Mt Todd Feasibility Study, we have focused on advancing our standalone development strategy and have made significant progress on permitting, strengthening our Australian project leadership team, and completing key technical and planning initiatives. These activities are expected to reduce development risk, enhance project readiness, and position Mt Todd to begin detailed engineering and design in 2027. We expect this milestone to initiate an approximately 27-month period encompassing detailed engineering, construction, and commissioning of a new gold mine."

Advancing Permitting and Driving Development Forward

The Company continues to advance the permit modifications required to align existing approvals with the 2025 Mt Todd Feasibility Study (“Mt Todd FS”). The Company is actively engaged with regulators, consultants, and stakeholders to obtain permit modifications. Some modifications have already been submitted, the first authorizations already granted, and programs to support other submissions are in progress. Vista expects certain additional approvals to be granted in the second half of 2026 with final approvals anticipated in 2027.

Concurrently, Vista is advancing several programs in preparation for the start of detailed engineering and design. The initial phase of a dewatering program is underway at the Batman pit and tailings storage facility, with additional phases planned to commence later this year. The Company has also completed refinements to the site layout design, is preparing for tailings storage facility pre-design field investigations, and continues to advance project execution planning.

Building Australia's Executive Leadership Team

The Company continues to build its Australia-based executive leadership and project development teams to support the next phase of the Project. The executive team is based in Perth, Western Australia, with the project development team assigned to the Northern Territory, including certain fly-in, fly-out roles.

The Company has strengthened its corporate capabilities across key functions, including projects and technical services, external relations and social performance, legal, and permitting. Recruiting is ongoing for executive and project development team members to further strengthen the Company’s project execution capabilities in Australia. As part of this effort, the Company is well advanced in its search for an Australia-based Managing Director with a proven track record in project development and building successful organizations to lead the development of Mt Todd.

Progressing Pre-Development Optimization Programs

Vista continues to advance the pre-development optimization programs identified in the Mt Todd FS to support detailed engineering and further de-risk the Project.

A comprehensive metallurgical test program to optimize grind size and gold recoveries while generating data to support process plant design and equipment selection is well advanced. Initial results are consistent with expectations, and we anticipate announcing final results later this year.

The geotechnical program at the Batman pit to evaluate opportunities to steepen the west pit wall, reduce waste stripping, and potentially convert mineral resources to additional mineral reserves is also nearing completion.

These, and other studies currently in progress, are expected to provide important inputs for detailed engineering while further reducing technical and execution risk.

Diggers & Dealers Mining Forum 2026

The Company also announced that it will be participating in the upcoming Diggers & Dealers Mining Forum taking place August 3-5, 2026, in Kalgoorlie, Western Australia.

Diggers & Dealers Mining Forum is Australia’s premier mining forum, with more than 2,700 attendees and over 150 exhibitors. The forum is a key event for mining leaders, developers, explorers, brokers, bankers, investors, financiers and mining service industries from around the world.

Vista's President and CEO, and Chief Financial Officer will join members of the executive leadership and project development teams from Perth and Darwin in meeting with industry peers and representatives of the Australian financial community. The leadership team will also be available to discuss current activities at Mt Todd, including recent technical and development initiatives.

About Vista Gold Corp.

Vista holds the Mt Todd gold project, located in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is among the largest development-stage projects in Australia. The Company has defined a clear pathway to value realization, targeting the commencement of detailed engineering and design in 2027. This milestone is expected to initiate an approximately 27-month period of design, construction, and commissioning, culminating in first gold production.

Mt Todd offers strong project economics, significant initial production, and compelling expansion and exploration upside. Mt Todd benefits from advanced local infrastructure, options for future expansion, and broad community support, underpinning its potential to become a long-lived, globally significant gold operation.

For further information about Vista Gold or Mt Todd, please contact Pamela Solly, Vice President of Investor Relations, at [phone] or visit the Company’s website at www.vistagold.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements and forward-looking information. These forward-looking statements and forward-looking information include, but are not limited to statements regarding such things as the Company’s 2026 objectives and priorities; the Company’s permitting, Australian project leadership team, and key technical and planning initiatives; the Company‘s initiation of an approximately 27-month period encompassing detailed engineering, construction, and commissioning of a new gold mine; the Company’s expectations of certain additional approvals to be granted in the second half of 2026, with final approvals anticipated in 2027; the initial phase of a dewatering program at the Batman pit and tailings storage facility; the Company tailings storage facility pre-design field investigations; the Company’s recruitment for executive and project development team members to further strengthen the Company’s project execution capabilities in Australia; the Company‘s search for an Australia-based Managing Director with a proven track record in project development and building successful organizations to lead the advancement of Mt Todd into development; the final results of the metallurgical test program; the Company’s geotechnical program at the Batman pit to evaluate opportunities to steepen the west pit wall, reduce waste stripping, and potentially convert mineral resources to additional mineral reserves; studies currently in progress; the Company’s plans to participate in the upcoming Diggers & Dealers Mining Forum taking place August 3-5, 2026, in Kalgoorlie, Western Australia; and action related to the Company’s President and CEO and Chief Financial Officer in meetings with industry peers and representatives of the Australian financial community; the Company’s belief that Northern Territory, Australia is a Tier-1 mining jurisdiction; the Company’s belief that Mt Todd is among the largest development-stage projects in Australia; the Company’s belief that it has defined a clear pathway to value realization, targeting the commencement of detailed engineering and design in 2027; this milestone is expected to initiate an approximate 27-month period of design, construction, and commissioning, culminating into first gold production; the Company’s belief that the Mt Todd project offers strong project economics, significant initial production, and compelling expansion and exploration upside; the Company’s belief that Mt Todd benefits from advanced local infrastructure, options for future expansion, and broad community support, underpinning its potential to become a long-lived, globally significant gold operation; and statements related to the Company’s strategy. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this news release include the following: the Company’s forecasts and expected cash flows; the Company’s projected capital and operating costs; the Company’s expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; the Company’s approved business plans, mineral resources and mineral reserves estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on the Company’s projects, if any; the Company’s experience with regulators; political and social support of the mining industry in Australia; the Company’s experience and knowledge of the Australian mining industry and the Company’s expectations of economic conditions and the price of gold. When used in this news release or elsewhere, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company’s future capital costs, operating costs, non-operating costs, and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on the Company’s operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed in March 2026, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements or forward-looking information whether as a result of new information, future events or otherwise.