DENVER, July 27, 2015 /PRNewswire/ -- Vista Gold Corp.
(the "Company," "we" or "our") (NYSE MKT and TSX: VGZ) today
announced that it has received an additional A$5.9 million (approximately US$4.3 million) Research & Development
("R&D") Tax Incentive refund, net of costs to prepare
and file. This refund is related to costs we incurred in respect of
the 2013 fiscal year. The refund was paid under the
Australian Government's R&D Tax Incentive Program, a program
designed to encourage industry to engage in R&D activities that
benefit Australia. With this
additional refund, we have received a total of A$13.4 million net of costs to prepare and
file. We did not incur any expenses that would qualify for a
material rebate under the R&D Incentive Program in 2014.
Frederick H. Earnest, President
and Chief Executive Officer, commented, "This rebate applies to the
continuation of programs from 2012 into 2013 related to our work to
find innovative solutions to the challenges at the Mt Todd gold
project, water management in particular. Some of this work has been
recognized as having cost-effective industry-wide application. We
are pleased with the addition of approximately US$4.3 million of cash to our treasury and now
believe, based on our current plan of operations, that we are
funded into 2018. We remain committed to careful management of our
financial resources and intend to continue our practice of strict
capital discipline as we evaluate potential programs that could
better position the Mt Todd gold project for fast-track development
when economic conditions permit."
About Vista Gold Corp.
Vista's principal asset is its
flagship Mt Todd gold project in Northern Territory,
Australia. We also hold approximately 4.9% of the outstanding
common shares of Midas Gold Corp., non-core projects in
Mexico and the United States and royalty interests in
projects in Bolivia and
Indonesia. For more information about our projects, including
technical studies and resource estimates, please visit our website
at www.vistagold.com.
For further information, please contact Connie Martinez at (720) 981-1185.
Forward Looking Statements
This press 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 press release
that address activities, events or developments that we expect or
anticipate will or may occur in the future, including such things
as the Company being funded well into 2018; our commitment to
careful management of our financial resources; our ability to
continue strict capital discipline;the timing and success of
programs that could position the Mt Todd gold project for
fast-track development; and other such matters are forward-looking
statements and forward-looking information. The material factors
and assumptions used to develop the forward-looking statements and
forward-looking information contained in this press release include
the following: our approved business plans, exploration and assay
results, mineral resource and reserve estimates and results of
preliminary economic assessments, pre-feasibility studies and
feasibility studies on our projects, if any. When used in
this press release, 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 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 our 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; 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 on March 3, 2015 and other documents filed with the
U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities. Although we have 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, we assume 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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SOURCE Vista Gold Corp.