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Vista Gold Corp. Announces Filing Of Preliminary Short Form Base Shelf Prospectus And Registration Statement To Replace Expired Short Form Base Shelf Prospectus And Current Shelf Registration Statement On Form S-3

DENVER, March 16, 2012 /PRNewswire/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) (" Vista" or the " Corporation") is pleased to announce that it filed today a preliminary short form base shelf prospectus with the securities commissions in each province and territory of Canada (other than Quebec) and a corresponding shelf registration statement on Form S-3 with the United States Securities and Exchange Commission (collectively, the " Offering Documents").  The Offering Documents were filed to replace Vista's prior Canadian short form base shelf prospectus that expired last year and Vista's current shelf registration statement on Form S-3 that expires in the second quarter of this year.  This preserves Vista's ability to complete future financings for corporate growth and development in an efficient and flexible manner, if appropriate at the time.

The Offering Documents, if and when brought effective, will allow Vista to make offerings of common shares, warrants, subscription receipts or units for aggregate proceeds of up to US$200 million during the next 25 months to potential purchasers in each province and territory of Canada (other than Quebec) and the United States.  The authorized amount of aggregate proceeds is the same as the proceeds authorized under Vista's prior Canadian short form base shelf prospectus and Vista's current shelf registration statement on Form S-3.

Vista currently anticipates using any proceeds from the sale of securities under the Offering Documents, if any, to fund the development of existing or acquired mineral properties and may also use such funds for acquisitions, working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  This news release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

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