Vista Gold Corp. Receives $1.1 Million Guadalupe de los Reyes Payment
January 11 2021 - 5:45AM
Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the
“Company”) today announced receipt of a $1.1 million payment from
Prime Mining Corp. (“Prime Mining”).
As announced on June 15, 2020 (see news
release), Prime Mining is required to pay Vista $2.1 million in
lieu of being granted certain royalties and back-in rights relating
to the Guadalupe de los Reyes gold / silver project in Mexico. The
remaining $1.0 million payment is due no later than July 2021. If
Prime Mining fails to make the remaining payment, Vista will have
the right to reinstate its royalties and back-in rights.
All dollar amounts in this press release are in
U.S. dollars.
About Vista Gold Corp.
The Company is a gold project developer. The
Company’s flagship asset is the Mt Todd gold project in the Tier-1
mining jurisdiction of Northern Territory, Australia. Mt Todd is
the largest undeveloped gold project in Australia and if developed
as presently designed, would potentially be Australia’s 6th largest
gold producer on an annual basis.
For further information about Vista or the Mt
Todd Gold Project, please contact Pamela Solly, Vice President of
Investor Relations, at (720) 981-1185 or visit the Company’s
website at www.vistagold.com to access important information,
including the current Technical Report.
Forward Looking Statements
This press 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 press release that address
activities, events or developments that we expect or anticipate
will or may occur in the future, including such things as our
expectation that we will receive $1.0 million no later than July
2021, our ongoing efforts to advance development of Mt Todd to
potentially be Australia’s 6th largest gold producer are
forward-looking statements and forward-looking information. The
material factors and assumptions used to develop the
forward-looking statements and forward-looking information
contained in this press release include the following: our
discussions and contractual arrangements with Prime Mining; our
reliance that Prime Mining will deem the exploration results at the
Guadalupe de los Reyes gold / silver project sufficiently positive
to continue its business plans for this project and its ability to
raise funds to meet obligations when due; our approved business
plans, exploration and assay results, results of our test work for
process area improvements, mineral resource and reserve estimates
and results of preliminary economic assessments, prefeasibility
studies and feasibility studies on our projects, if any, our
experience with regulators, and positive changes to current
economic conditions and the price of gold. When used in this press
release, 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 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
our 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 February
26, 2020 and other documents filed with the U.S. Securities and
Exchange Commission and Canadian securities regulatory authorities.
Although we have 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, we assume no
obligation to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
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