Vista Gold Highlights 2020 Achievements and Provides 2021 Outlook - Seite 2

Our top 2021 priorities are to achieve a market capitalization that is more reflective of the Mt Todd Project NPV, receive approval of the MMP, and initiate a follow up drill program to expand on the successful results of the current proof of concept drilling program.”

Key 2020 Highlights

Financial
During 2020, Vista effectively monetized non-core assets, managed costs and capital spending, and strengthened its balance sheet. The Company continues to have no debt.

VGZ Share Price Performance
For the twelve months ended December 31, 2020, VGZ shares increased 49.0%. Vista continues to enjoy strong leverage to the price of gold, in part due to significant improvements in Mt Todd project economics.

Exploration
Vista commenced an eight-hole proof of concept drilling program to test targets known as the Batman Hanging Wall Lode and the Batman North Extension, with the goal of the program to test the existence of mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. In December, Vista reported results from hole 1 (VB20-001) in the Batman Hanging Wall Lode, which confirmed our initial interpretation and suggest that additional drilling could provide the basis for an increase in the mineral resource estimates both within and outside the currently designed Batman pit.

Mining Management Plan
Throughout 2020, Vista continued to work with the NT Division of Mines and the newly formed NT Department of Industry, Tourism and Trade to advance the review and approval process of the Mt Todd MMP. Once approved, Vista will hold all major permits for the Project.

Jawoyn Agreement
Vista and the Jawoyn Association updated their existing agreement to include a royalty and mutual cooperation and support commitments. This provides the Jawoyn Association with a gross proceeds royalty instead of its previous right to become a 10% participating joint venture partner in Mt Todd and provides Vista with greater flexibility in its decisions to develop and operate Mt Todd. It also provides greater commitment for a shared vision of promoting cross-cultural awareness, protecting cultural heritage sites, and providing economic opportunities for aboriginal people as integral components of the development of Mt Todd.