Vista Announces Update for Paredones Amarillos Gold Project

DENVER, Nov. 4 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista" or the
"Company") (TSX & NYSE Amex: VGZ) is pleased to provide an update on
activities at the Paredones Amarillos gold project in Baja California Sur,
Mexico. Receipt of the Temporary Occupation Permits ("TOP") was announced on
October 28, 2009, and signals the commencement of a number of activities
designed to advance the development of the project towards construction and
the planned start of production in 2011. Once in production, the Paredones
Amarillos gold project is expected to produce an estimated average of 143,000
ounces of gold per year during the first five years and an estimated 1.2
million ounces of gold over the estimated 9.3 year life of the mine.

Permitting

As previously announced, with the receipt of the TOP, the Company now has all
the prerequisite documentation to re-apply for the Change of Forest Land Use
Permit ("CFLUP") which is required before the Company can commence
construction of the Paredones Amarillos gold project. The Company plans to
file the application this week and estimates that the CFLUP will be granted
prior to the end of the first quarter 2010.

Project Engineering

The Company is preparing a Request for Proposal to be sent to qualified and
interested companies for the provision of Engineering, Procurement and
Construction Management ("EPCM") services for the project. During the next
30-45 days, Vista expects to select the EPCM contractor and to commence the
first phase of detailed engineering and design work, so that construction
activities can start as soon as possible following receipt of the CFLUP.

Vista already owns most of the major equipment required for the process plant
(mill), and a recent review indicates that other major project equipment
(including mobile mining equipment) are expected to be available with
reasonable delivery times. The expected construction period for the project is
approximately 15 months.

Project Financing

Vista continues to advance efforts to secure appropriate financing for the
Paredones Amarillos gold project's development including discussions with
various qualified banks that may be interested in providing project loans.
The process is expected to take three to five months with completion being
targeted to coincide with the receipt of the CFLUP.

Community Relations

On November 4, 5 and 6, 2009, the Company's wholly-owned Mexican subsidiary,
Minera Paredones Amarillos S.A. de C.V. ("MPA") which holds the Paredones
Amarillos gold project, plans to hold a series of workshops in communities
close to the project, including La Paz. The workshops are part of the
Company's ongoing efforts to keep local residents, government officials and
other stakeholders informed about the Paredones Amarillos gold project and the
measures being taken by the Company to ensure that the Paredones Amarillos
gold project will make a positive contribution to the community. These
workshops are one of several programs developed by MPA in conjunction with the
Mexican consulting group, C3 Consensus, in an effort to reduce public
misconceptions, ensure that correct project information is disseminated and at
the same time, to receive appropriate stakeholder input which may lead to
project development improvements.

More Information about the Paredones Amarillos Gold Project

For more information about the Paredones Amarillos gold project, please see
the technical report entitled "Feasibility Study Update, NI 43-101 Technical
Report, Vista Gold Corp., Paredones Amarillos Gold Project, Baja California
Sur, Mexico," dated September 1, 2009, prepared by SRK Consulting (U.S.), Inc.
("SRK") of Lakewood, Colorado. The final report is available on SEDAR at
www.sedar.com.

Qualified Person

Terry Braun, P.E., Principal of SRK, an independent "qualified person" as
defined by Canadian National Instrument 43-101 - Standards of Disclosure for
Mineral Projects, supervised the preparation of scientific and technical
information contained in this press release.

About Vista Gold Corp.

Since 2001, Vista has acquired a number of gold projects with the expectation
that higher gold prices would increase their value. For more information about
our projects, including technical studies and resource estimates, please visit
our website at www.vistagold.com. Vista has taken steps to advance the
Paredones Amarillos gold project located in Baja California Sur, Mexico,
towards production. These steps include the completion of a definitive
feasibility study, the purchase of long-delivery processing equipment, and the
purchase of land for the processing facilities, related infrastructure and the
desalination plant. The results of a preliminary economic assessment completed
in 2009 on the Mt. Todd gold project in Australia are encouraging and Vista is
undertaking other studies to advance the project, with the completion of a
preliminary feasibility study targeted for late in the fourth quarter of 2009.
Vista's other holdings include the Guadalupe de los Reyes gold project in
Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in
Indonesia, and the Long Valley gold project in California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 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 Vista
expects or anticipates will or may occur in the future, including such things
as the timing and outcome of the application for the CFLUP application for the
Paredones Amarillos gold project, anticipated plans and timing of
commencement of construction, development and commencement of production at
the Paredones Amarillos gold project; the timing, performance and results of
feasibility studies including the timing and receipt of required land use,
environmental and other permits for the Paredones Amarillos gold project; the
estimated production and life of mine of the Paredones Amarillos gold project,
plans, timing and outcome of project financing, the timing and outcome of
detailed EPCM work, the timing and availability of project equipment,
preliminary assessment results for the Mt. Todd gold project; and plans and
timing for a preliminary feasibility study at the Mt. Todd gold project;
Vista's future business strategy; goals; operations; plans; potential project
development; future gold prices; Vista's potential status as a producer
including plans and timing of potential production; and other such matters are
forward-looking statements and forward-looking information. When used in this
press release, the words "estimate", "plan", "will", "target", "anticipate",
"expect", "intend", "believe" 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 Vista to be
materially different from any future results, performance or achievements
expressed or implied by such statements. Such factors include, among others,
risks relating to gold prices, general economic conditions, delays and
incurrence of additional costs in connection with our Paredones Amarillos gold
project, including uncertainty relating to timing and receipt for required
governmental permits; uncertainty relating to timing and outcome of CFLUP
application for the Paredones Amarillos gold project, uncertainty of
feasibility study results and preliminary assessments and of estimates on
which such results are based; risks relating to delays in commencement and
completion of construction at the Paredones Amarillos and Mt. Todd gold
projects; risks of significant cost increases; risks of shortages of equipment
or supplies; risks that Vista's acquisition, exploration and property
advancement efforts will not be successful; risks relating to fluctuations in
the price of gold; the inherently hazardous nature of mining-related
activities; uncertainties concerning reserve and resource estimates; potential
effects on Vista's 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; risks
related to repayment of debt; risks related to increased leverage; and
uncertainty of being able to raise capital on favorable terms or at all; as
well as those factors discussed in Vista's latest Annual Report on Form 10-K,
as amended and Quarterly Report on Form 10-Q and other documents filed with
the U.S. Securities and Exchange Commission and Canadian securities regulatory
authorities. Although Vista has 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.
There can be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Except as required by law, Vista assumes no
obligation to publicly update any forward-looking statements or
forward-looking information, whether as a result of new information, future
events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or
visit the Vista Gold Corp. website at www.vistagold.com

SOURCE Vista Gold Corp.

Connie Martinez, +1-720-981-1185, for Vista Gold Corp.