783324--3/31/2006--VISTA_GOLD

related topics

{cost, contract, operation}

{interest, director, officer}

{operation, international, foreign}

{gas, price, oil}

{loss, insurance, financial}

{acquisition, growth, future}

{stock, price, share}

{competitive, industry, competition}

We cannot be certain that our acquisition, exploration and evaluation activities will be commercially successful. The price of gold is subject to fluctuations, which could adversely affect the realizable value of our assets and potential future results of operations and cash flow. Mining exploration, development and operating activities are inherently hazardous. Reserve calculations are estimates only, subject to uncertainty due to factors including metal prices, inherent variability of the ore and recoverability of metal in the mining process. Our exploration and development operations are subject to environmental regulations, which could result in incurrence of additional costs and operational delays. We face intense competition in the mining industry. We may be unable to raise additional capital on favorable terms. Some of our directors may have conflicts of interest as a result of their involvement with other natural resource companies. There may be challenges to our title in our mineral properties. Our property interests in Bolivia, Mexico and Indonesia are subject to risks from political and economic instability in those countries. Our financial position and results are subject to fluctuations in foreign currency values. The market price of our Common Shares could decrease as a result of the impact of the significant increase in the number of outstanding Common Shares that may result from exercise of warrants issued pursuant to our equity issuances in 2003, 2004 and 2005 and from exercises of options. It may be difficult to enforce judgments or bring actions outside the United States against us and certain of our directors and officers.

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783324--3/31/2006--VISTA_GOLD_CORP