Mt Todd Gold Project - Gold Resource Update June 2009

Abstract

Tetra Tech, Inc. ('Tt') was commissioned by Vista Gold Corp. ('Vista') in March 2009 to prepare an update to the December 29, 2006 Canadian National Instrument 43-101 ('NI43-101') compliant Preliminary Economic Assessment Report ('PEA') on the Mt Todd Gold Project (the 'Project') located in Northern Territory ('NT'), Australia. On March 1, 2006, Vista purchased the Mt Todd property, and the acquisition was completed on June 16, 2006, when the mineral leases transferred to Vista and funds were released from escrow. An initial NI43-101 Technical Report was completed on June 26, 2006. A Preliminary Economic Assessment report was completed on December 29, 2006, An update to the resource report was completed in May 2008 and February 2009 based on additional exploration drilling completed by Vista during 2007 and 2008. The Mt Todd property contains a number of known occurrences of gold, which have been explored and/or exploited to various degrees. The largest and best-known deposits are the Batman and Quigleys Deposits. Both of these have had historic mining, with Batman having the most production and exploration completed. Currently, only the Batman Deposit has CIM compliant reported resources.