vista gold corp (VGZ) Snapshot

To discuss the results of the preliminary feasibility study

Vista Gold Corp. published the significant results of feasibility-level metallurgic test work supporting the comminution circuit design and estimated gold recovery rates for the Batman deposit at the Mt. Todd gold project in Northern Territory, Australia. The test work was based on HQ core samples from the company's 2011 and 2012 drilling programs and included extensive variability testing. This test work, combined with the findings of previous test work programs, supports (1) ore hardness estimates at the Batman deposit that are consistent and do not change at depth; (2) the selection of High Pressure Grinding Roll technology as part of the comminution circuit; (3) gold recovery rates for freshly mined ore of 81.7% based on optimized grind size and leach conditions; and (4) the processing of material from the historic heap leach pad at the end of the proposed mine life. Twenty of the samples were subjected to Bond ball mill work index ("BWi") tests, the SMC Test (drop-weight and specific gravity tests) as well as Compressive Strength Tests and Crushing Work Index ("CWI") tests. The results of the BWi tests show an average BWi value of 26.2 kWh/t with a maximum value of 28.2 kWh/t and a minimum value of 23.6 kWh/t. The results of this test work support two main conclusions: (1) that the hardness of ore at the Batman deposit is relatively constant; and (2) that ore at the Batman deposit does not change at depth.

Vista Gold Corp. reported unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net loss of $27.4 million or $0.34 per share for the three months ended March 31, 2013 against net loss of $11.2 million or $0.16 per share a year ago. The net loss includes an unrealized $28.8 million mark-to-mark loss on investment in Midas Gold Corp., partially offset by an $11.0 million increase deferred tax benefit substantially related to this loss.