Vista Gold Strengthens the Mt Todd Project Execution Team with the Appointment of Julie Jones as General Counsel and Company Secretary and Advances Search for a Managing Director

Vista Gold Corp. (NYSE American and TSX:VGZ) is pleased to announce the appointment of Julie Jones as General Counsel and Company Secretary of Vista Gold Australia Pty Ltd. Ms. Jones will be based in the Company's Perth office and will play an important role in establishing the Mt Todd gold project as a leading gold producer in Northern Territory, Australia.

The appointment reflects Vista's continued focus on strengthening its executive project execution capabilities as the Company advances Mt Todd, one of the largest undeveloped gold projects in Australia. Ms. Jones brings more than 20 years of legal and executive leadership experience across ASX100 companies, global mining operators, and industry organizations. Her expertise includes governance, risk management, corporate affairs, commercial negotiations, employment and mining law, and company secretarial practice.

Ms. Jones has held senior leadership roles with Gold Road Resources, Australian Strategic Materials, Matrix Composites & Engineering, Chamber of Commerce and Industry WA, and Iluka Resources. Earlier in her career, she practiced with a leading Australian law firm and the West Australian State Solicitor's Office.

"I am pleased to welcome Julie to our team," said Frederick H. Earnest, President and CEO of Vista. "Her appointment further strengthens our executive team in Australia at an important stage in the advancement of Mt Todd. Her broad legal and corporate leadership experience will also be instrumental as Vista executes its strategic plan for the development of Mt Todd."

Ms. Jones holds a Bachelor of Laws and Graduate Diploma in Taxation from the University of Western Australia and a Graduate Diploma in Legal Practice from the College of Law. She is also a graduate of the Australian Institute of Company Directors and is admitted to practice in Western Australia, New South Wales, and the High Court of Australia.

In addition to welcoming Ms. Jones, Vista is pleased to announce that its search for a Managing Director is advancing. Korn Ferry has been retained and is actively undertaking a search for a Managing Director. Vista is seeking an Australian-based executive with project development experience and capital markets recognition to deliver the development of the Mt Todd gold project.

About Vista Gold Corp.

Vista holds the Mt Todd gold project, located in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is among the largest development-stage projects in Australia. The Company has defined a clear pathway to value realization, targeting the commencement of detailed engineering and design in 2027. This milestone is expected to initiate an approximately 27-month period of design, construction, and commissioning, culminating in first gold production.

Mt Todd offers strong project economics, significant initial production, and compelling expansion and exploration upside. Mt Todd benefits from advanced local infrastructure, options for future expansion, and broad community support, underpinning its potential to become a long-lived, globally significant gold operation.

For further information about Vista or Mt Todd, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company's website at www.vistagold.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements and forward-looking information. These forward-looking statements and forward-looking information include, but are not limited to statements regarding such things as the Company's belief that Ms. Jones will play an important role in establishing the Mt Todd gold project as a leading gold producer in Northern Territory, Australia; the Company's belief that Ms. Jones' broad legal and corporate leadership experience will also be instrumental as Vista executes its strategic plan for the development of Mt Todd; Vista is seeking an Australian-based managing director with project development experience and capital markets recognition to deliver the development of the Mt Todd gold project; the Mt Todd gold project is among the largest development-stage projects in Australia; the Company's belief that Northern Territory, Australia is a Tier-1 mining jurisdiction; the Company has defined a clear pathway to value realization, targeting the commencement of detailed engineering and design in 2027; this milestone is expected to initiate an approximately 27-month period of design, construction, and commissioning, culminating in first gold production; Mt Todd offers strong project economics, significant initial production, and compelling expansion and exploration upside; Mt Todd benefits from advanced local infrastructure, options for future expansion, broad community support, underpinning its potential to become a long-lived, globally significant gold operation and statements related to the Company's strategy. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this news release include the following: the Company's forecasts and expected cash flows; the Company's projected capital and operating costs; the Company's expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; the Company's approved business plans, mineral resources and mineral reserves estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on the Company's projects, if any; the Company's experience with regulators; political and social support of the mining industry in Australia; the Company's experience and knowledge of the Australian mining industry and the Company's expectations of economic conditions and the price of gold. When used in this news release or elsewhere, the words "optimistic," "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if," "anticipate" 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 the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company's future capital costs, operating costs, non-operating costs, and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on the Company'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; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings "Note Regarding Forward-Looking Statements" and "Risk Factors" in the Company's latest Annual Report on Form 10-K as filed in February 2025, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although the Company 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. Except as required by law, the Company 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.

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Pamela Solly

Vice President of Investor Relations

(720) 981-1185