Vista Gold subsidiary receives $7M second instalment payment from Wheaton

Vista Gold announce that its wholly-owned subsidiary, Vista Gold Australia has received the second instalment payment of $7M under the royalty agreement between Vista Australia and Wheaton Precious Metals an affiliate of Wheaton Precious Metals, dated December 13, 2023, in relation to the Company’s Mt Todd gold project located in Northern Territory, Australia. All dollar amounts in this news release are in US dollars. The Second Instalment is part of the $20M royalty with Wheaton, which will be used to advance Mt Todd and for general corporate purposes. Receipt of the Second Instalment followed satisfaction of certain conditions precedent to this instalment, which included approval from the Australian government Foreign Investment Review Board, registration of security interests pursuant to a general security deed between Vista Australia and Wheaton, providing for, among other things, a mortgage on the mineral tenements that comprise Mt Todd, and satisfaction of other customary conditions, representations and warranties. The final instalment of $10M is to be received six months from the date of the first instalment provided Vista Australia has commenced a designated drilling program at Mt Todd and satisfied other customary conditions, representations and warranties.