Vista Gold to undertake several activities in 2024

Vista plans to undertake the following activities which believes will further add value and minimize risk for shareholders. The Company plans to commence a drill program totaling 6,000-7,000 meters, with the focus to add shallow gold resources at the north end of the Batman deposit. This drilling program is a condition of our previously announced royalty transaction. Management believes that if we are able to convert gold resources to gold reserves this would add substantial value to Mt Todd by improving cash flow as a result of a more constant production profile, reduced stripping, and increased mine life for all development scenarios. Mobilization of the first drill rig is in process and drilling is expected to begin in late January or early February. The proposed drilling is expected to have an all-in cost of approximately $2M and to be completed by year end. Vista plans to leverage the results of the drilling program and prior technical studies by advancing evaluations of staged development scenarios for Mt Todd. The Company’s recent $20M royalty transaction provides a solid foundation for our efforts to best realize value for shareholders. It was achieved without equity dilution and places us in a strong financial position as we continue our work with CIBC. Royalty proceeds in December 2023 were $3M. The remaining royalty proceeds totaling $17M are expected to be received by the end of the Q2 . Management plans to maintain similar spending levels for costs of a recurring nature, continue to pursue cost reductions where possible, and leverage prior technical studies for the staged development evaluation. The company plans to publish our first ESG report in the Q1.