MLN 1070, MLN 1071 and MLN 1127 Mount Todd Project Annual report for the period ended 4 March 2009

Abstract

The three mining leases, MLN 1070, MLN 1071 and MLN 1127 comprise a portion of the Mount Todd Project area and cover 54.15 square km (4% of the project area). The mining leases are situated approximately 42 km north of the town of Katherine. This annual report documents the work completed on the leases comprising MLN 1070, MLN 1071 and MLN 1127 for the period March 5, 2008 to March 4, 2009. The leases were originally granted on 5 March 1993 and were transferred to Vista Gold Australia Pty Ltd. by the Northern Territory Government on June 15, 2006. Vista Gold Australia Pty Ltd. is the operator and managing the exploration work. Work on the project during the Reporting Year included 9,037.4 meters of diamond drilling consisting of 16 diamond holes targeting infill and step-out targets. All the drilling was conducted on mining lease MLN 1070. A total of 7,367 assays were submitted from the program to the ALS Chemex for analyses. Core holes VB08-029 and VB08-033 were terminated early due to poor ground conditions. There was no field work carried out on MLN 1071 and MLN 1127 during the Reporting Year as work was concentrated on the larger ML N1070 which hosts the Batman deposit. Work on MLN 1071 and MLN 1127 covered modeling and geological research into the prospectivity of the Batman - Quigley's structural corridor, this work has resulted in soil sampling program that in part covers MLN 1071 to be completed July 2009.