<PAGE>
7961 SHAFFER PARKWAY
SUITE 5
[LOGO] LITTLETON, COLORADO 80127
TELEPHONE (720) 981-1185
FAX (720) 981-1186
Trading Symbol: VGZ
Toronto and American Stock Exchanges
------------------------------------------- N E W S ----------------------------
VISTA GOLD - ANNOUNCEMENT
DENVER, COLORADO, AUGUST 31, 2000 - Vista Gold Corp. reported today that USF&G
has brought a claim in the United States District Court of Nevada for
approximately $800,000, which it alleges is the deficiency between the face
amount of the $1.6 million reclamation bond it issued for the Mineral Ridge Mine
bond and the collateral it holds from Mineral Ridge Resources Inc.
Mineral Ridge Resources Inc., a wholly-owned subsidiary of Vista Gold, is
presently in Chapter 11 bankruptcy proceedings as previously reported. The claim
alleges that Vista Gold is liable to USF&G as an indemnitor under the bond.
"Vista Gold denies that it has any liability whatsoever to USF&G in relation to
the bond as it did not assume any obligation as indemnitor when it acquired
Mineral Ridge Resources Inc. from Cornucopia Resources Ltd. in 1998 and did not
subsequently agree to do so. Vista Gold considers the claim to be completely
without merit, and intends to vigorously defend against this suit by USF&G,"
said Michael B. Richings, President.
Vista Gold Corp. is an international gold mining, development and exploration
company based in Denver, Colorado. Its holdings include the Hycroft mine in
Nevada, a development project in Bolivia, and exploration projects in North and
South America.
---
The statements that are not historical facts are forward-looking statements
involving known and unknown risks and uncertainties that could cause actual
results to vary materially from the targeted results. Such risks and
uncertainties include those described in the Company's Form 10-K.
For further information, please contact Investor Relations at (720) 981-1185.
