DENVER, June 1, 2015 /CNW/ -- Vista Gold
Corp. (the "Company," "we" or "our") (NYSE MKT and TSX: VGZ) today
announced that it has received an A$7.5
million (approximately US$5.7
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 2012 tax 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.
Frederick H. Earnest, President
and Chief Executive Officer, commented, "Certain investments we
made in 2012 to find innovative solutions to our water management
challenges at the Mt Todd gold project, together with studies we
undertook to define long-term environmental solutions for the
project, have met the criteria for a refundable tax credit under
the Australian Government's R&D Tax Incentive Program. Some of
our work has been recognized as having cost-effective industry-wide
application. We are pleased with the addition of approximately
US$5.7 million of cash to our
treasury and now we believe we are funded well into 2017. 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 2017; 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.