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NI 43-101 Technical Report: Mt Todd Gold Project | 50,000 tpd Feasibility Study

Vista Gold · VGZ document official 2024-04-16

This document is a NI 43-101 Technical Report for Vista Gold Corp.'s Mt Todd Gold Project in Northern Territory, Australia. It presents the results of a 50,000 tpd Feasibility Study, including project location, property description, geology, mineral resource and reserve estimates, mining methods, metallurgy, processing, infrastructure, market studies, social and environmental aspects, capital and operating cost estimates, and financial analysis. The report is prepared by Tetra Tech and dated April 16, 2024, with an effective date of March 12, 2024. It contains forward-looking statements and cautions U.S. investors about differences between Canadian and U.S. reporting standards.

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Briefing

This document is a NI 43-101 Technical Report for Vista Gold Corp.'s Mt Todd Gold Project in Northern Territory, Australia. It presents the results of a 50,000 tpd Feasibility Study, including project location, property description, geology, mineral resource and reserve estimates, mining methods, metallurgy, processing, infrastructure, market studies, social and environmental aspects, capital and operating cost estimates, and financial analysis. The report is prepared by Tetra Tech and dated April 16, 2024, with an effective date of March 12, 2024. It contains forward-looking statements and cautions U.S. investors about differences between Canadian and U.S. reporting standards. Key points: The report is a NI 43-101 compliant Feasibility Study for the Mt Todd Gold Project, prepared for Vista Gold Corp; It includes sections on mineral resource and reserve estimates, project economics, mining methods, metallurgy, and permitting; The document contains forward-looking statements and outlines associated risks and assumptions; There is a cautionary note regarding differences between Canadian NI 43-101 and U.S. S-K 1300 reporting standards; The report covers social, environmental, and permitting aspects relevant to project development. This brief is based on the cited source artifact and is intended as a research entry point, not a replacement for the original source or EGM canonical data tables.

Source Notes

This Technical Report contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange...

FORWARD-LOOKING STATEMENTS section · source

This report has been prepared in accordance with the requirements and standards of Canadian National Instrument 43-101 (NI 43-101) and uses terms...

Cautionary Note to United States Investors · source

All references to the term “ore” contained in this Technical Report refer to mineral reserves, not mineral resources.

NOTE section · source

Extracted Document Text

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# SEDAR Link: NI 43-101 Technical Report

Source: https://vistagold.com/images/mttodd/Vista-Mt_Todd_NI_43-101_FS_Technical_Report_-_April_16_2024.pdf
Published: 2024-04-16T00:00:00+00:00
Fetched: 2026-05-05T09:40:19.662+00:00
Source artifact: 38d2eebd-e109-49e4-952a-d0ae9c7e8c81
Normalizer input: text

## Content

# SEDAR Link: NI 43-101 Technical Report
NI 43-101 Technical Report
Mt Todd Gold Project | 50,000 tpd Feasibility Study
Northern Territory, Australia
Effective Date: March 12, 2024
Project No. 117-8348002
Project No. 117-
Issue Date: April 16, 2024
NI 43-101 Technical Report
Mt Todd Gold Project | 50,000 tpd Feasibility Study
Northern Territory, Australia
Project No. 117-8348002
Effective Date: March 12, 2024
Issue Date: April 16, 2024
PRESENTED TO PRESENTED BY
Vista Gold Corp. Tetra Tech
8310 S. Valley Hwy., Suite 300 390 Union Blvd., Suite 400 P: +1 (303) 217-5700
Englewood, CO 80112 Lakewood, CO 80228 tetratech.com
P +1 (720) 981-1185
Prepared by: Maurie Marks, P.Eng.
Rex Clair Bryan, Ph.D., SME RM
Thomas L. Dyer, P.E., SME RM
Amy L. Hudson, Ph.D., CPG, SME RM
April Hussey, P.E.
Chris Johns, M.Sc., P.Eng
Max Johnson, P.E.
Deepak Malhotra, Ph.D., SME RM
Zvonimir Ponos, BE, MIEAust, CPeng, NER
Vicki J. Scharnhorst, P.E., LEED AP
Keith Thompson, CPG, member AIPG
Vista Gold Corp. NI 43-101 Technical Report
Mt Todd Gold Project | Northern Territory, Australia 50,000 tpd Feasibility Study
FORWARD-LOOKING STATEMENTS
This Technical Report 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 Technical Report
that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including
such things as, the Company’s continued work on the Mt Todd gold project; that process improvements will result in
lower operating costs, reduced power consumption, increased gold recovery and higher gold production; estimates of
mineral reserves and resources; projected project economics, including anticipated production, average cash costs,
before and after-tax NPV, IRR, capital requirements and expenditures, gold recovery after-tax payback, operating costs,
average tonnes per day milling, mining methods procedures, estimated gold recovery, project design, and life of mine;
that the Project is an advanced stage development project; average annual production overtime; commencement of
commercial production; timing for construction and commissioning; exploration of new deposits at Mt Todd and the
surrounding exploration areas; size of final product through the high pressure grinding roll crusher; potential costs or
savings related to gas price; ability to convert Quigleys estimated mineral resources to proven or probable mineral
reserves; grade of minerals at the Quigleys deposit; ability to add higher grade feed from the Quigleys deposit to the
Project in its mid years; timing for and completion of the NI 43-101 technical report for the FS; 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 Technical Report include
the following: the accuracy of the results of the FS, mineral resource and reserve estimates, and exploration and assay
results; the terms and conditions of the Company’s agreements with contractors and Vista’s approved business plan;
the anticipated timing and completion of a feasibility study on the Project and permissions including approval of the
MMP; the potential occurrence of certain threatened species of flora, vegetation, and fauna within the mine site; the
anticipated receipt of required permits; no change in laws that materially impact mining development or operations of
a mining business; the potential occurrence and timing of a production decision; the anticipated gold production at the
Project; the life of any mine at the Project; all economic projections relating to the Project, including estimated cash cost,
NPV, IRR, and initial capital requirements; and Vista’s goal of becoming a gold producer. When used in this Technical
Report, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “plans,” “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 Vista to be materially different from any future results, performance or
achievements expressed or implied by such statements. Such factors include, among others, uncertainty of mineral
resource estimates, estimates of results based on such mineral resource estimates; risks relating to cost increases for
capital and operating costs; risks related to the timing and the ability to obtain the necessary permits, 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 Vista’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; as well as those factors discussed under the headings “Note Regarding Forward-Looking
Statements” and “Risk Factors” in Vista’s Annual Report Form 10-K as filed in March 2024 and other documents filed
with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista 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, Vista 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.
TETRA TECH April 2024
Vista Gold Corp. NI 43-101 Technical Report
Mt Todd Gold Project | Northern Territory, Australia 50,000 tpd Feasibility Study
Cautionary Note to United States Investors
This report has been prepared in accordance with the requirements and standards of Canadian National Instrument
43-101 (NI 43-101) and uses terms in accordance with applicable Canadian mining standards as defined under
NI 43-101. These requirements, standards and definitions differ from those set forth in the United States Securities and
Exchange Commission’s Regulation S-K subsection 1300 (S-K 1300). While the requirements, standards and terms under
NI 43-101 and S-K 1300 are substantially similar, they are not identical and the contents of this report may differ
materially from those set forth in the reports prepared in accordance with S-K 1300 requirements, including reserve and
resource estimates. U.S. Investors are cautioned not to assume that the contents of this report and the reserve and
resource estimates contained herein are the same as those contained in a technical report summary prepared in
accordance with S-K 1300.
NOTE
All references to the term “ore” contained in this Technical Report refer to mineral reserves, not mineral resources.
TETRA TECH April 2024
Vista Gold Corp. NI 43-101 Technical Report
Mt Todd Gold Project | Northern Territory, Australia 50,000 tpd Feasibility Study
TABLE OF CONTENTS
1. SUMMARY ................................................................................................................................................................................. 1
1.1 Introduction ..................................................................................................................................................................................... 1
1.2 Location ............................................................................................................................................................................................. 1
1.3 Property Description .................................................................................................................................................................... 1
1.4 Geology and Mineralization ...................................................................................................................................................... 6
1.5 Mineral Resource Estimate ........................................................................................................................................................ 6
1.6 Mineral Reserve Estimates ......................................................................................................................................................... 8
1.6.1 Heap Leach Reserve Estimate ............................................................................................................................................. 8
1.7 Mining Methods ............................................................................................................................................................................ 9
1.8 Metallurgy ......................................................................................................................................................................................10
1.9 Mineral Processing ......................................................................................................................................................................12
1.10 Project Infrastructure .................................................................................................................................................................12
1.11 Market Studies and Contracts ................................................................................................................................................13
1.11.1 Markets ...................................................................................................................................................................................... 13
1.11.2 Contracts ................................................................................................................................................................................... 13
1.12 Social and Environmental Aspects ........................................................................................................................................14
1.12.1 Existing Environmental and Social Information......................................................................................................... 14
1.12.2 Social or Community Requirements .............................................................................................................................. 14
1.12.3 Approvals, Permits and Licenses ..................................................................................................................................... 14
1.13 Capital and Cost Estimates ......................................................................................................................................................15
1.13.1 Capital Cost Estimates ......................................................................................................................................................... 15
1.13.2 Operating Cost Estimates ................................................................................................................................................... 17
1.14 Financial Analysis .........................

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