Document:

<PAGE>

                                                                   EXHIBIT 10.16

                            SHARE PURCHASE AGREEMENT

                                      MADE
                                 AUGUST 29, 2002

                                      AMONG
                          VICEROY MINERALS CORPORATION
                                       AND
                          408178 BRITISH COLUMBIA LTD.
                                       AND
                          VICEROY RESOURCE CORPORATION
                                       AND
                                VISTA GOLD CORP.

                                       AND
                                  GRANGES INC.
                           IN RESPECT OF THE SHARES OF
                    MINERA PAREDONES AMARILLOS, S.A. DE C.V.

<PAGE>

                                TABLE OF CONTENTS
<TABLE>

<S>                                                                                                <C>
ARTICLE 1 - DEFINITIONS AND INTERPRETATION..........................................................2
     1.1      Definitions...........................................................................2
     1.2      Interpretation........................................................................7
     1.3      Schedules.............................................................................8

ARTICLE 2 - PURCHASE AND SALE.......................................................................8
     2.1      Purchase and Sale of Purchased Shares.................................................8
     2.2      Purchase Price........................................................................8
     2.3      Payment of the Purchase Price.........................................................9

ARTICLE 3 - REPRESENTATIONS AND WARRANTIES..........................................................9
     3.1      Representations and Warranties of VMC and HoldCo......................................9
              (1)    Corporate Status and Authority.................................................9
              (2)    No Default....................................................................10
              (3)    Share Capital.................................................................10
              (4)    Financial Matters.............................................................11
              (5)    Material Changes..............................................................11
              (6)    Banking.......................................................................12
              (7)    Material Contracts............................................................12
              (8)    Assets and Property...........................................................12
              (9)    Hazardous Materials and Environmental Laws....................................14
              (10)   Legal and Regulatory Matters..................................................15
              (11)   Taxation......................................................................16
              (12)   Employment Matters............................................................16
              (13)   Binding Agreement.............................................................17
              (14)   Ownership of Purchased Shares.................................................17
              (15)   Residency.....................................................................18
              (16)   No Commission.................................................................18
              (17)   Approvals.....................................................................18
              (18)   Securities Laws...............................................................18
     3.2      Representations and Warranties of Viceroy............................................21
              (1)    Corporate Status and Capacity.................................................22
              (2)    No Default....................................................................22
              (3)    Binding Agreement.............................................................22
              (4)    Ownership of VMC and HoldCo...................................................22
              (5)    No Commission.................................................................23
              (6)    Approvals.....................................................................23
     3.3      Representations and Warranties of Vista and Granges..................................23
              (1)    Corporate Status and Capacity.................................................23
              (2)    No Default....................................................................23
              (3)    Binding Agreement.............................................................24
              (4)    Share Capital.................................................................24
              (5)    Listing of Common Shares......................................................24
              (6)    Reporting Issuer Status.......................................................24
              (7)    Qualifying Issuer Status......................................................24
              (8)    No Commission.................................................................24
              (9)    Disclosure Documents..........................................................24
</TABLE>

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<TABLE>

<S>                                                                                                <C>
              (10)   Material Changes..............................................................25
              (11)   Legal and Regulatory Matters..................................................25
              (12)   Approvals.....................................................................26

ARTICLE 4 - COVENANTS..............................................................................26
     4.1      Covenants of VMC, HoldCo and Viceroy.................................................26
              (1)    Agreement Date to Closing.....................................................26
              (2)    At Closing....................................................................28
              (3)    Post-Closing..................................................................28
     4.2      Covenants of Vista and Granges.......................................................29
              (1)    General.......................................................................29
              (2)    At Closing....................................................................29
              (3)    Post-Closing..................................................................29

ARTICLE 5 - CONDITIONS PRECEDENT...................................................................30
     5.1      Mutual Conditions Precedent..........................................................30
     5.2      Conditions for the Benefit of VMC, HoldCo and Viceroy................................30
     5.3      Conditions for the Benefit of Vista and Granges......................................32

ARTICLE 6 - SURVIVAL OF REPRESENTATIONS AND INDEMNITY..............................................36
     6.1      Survival of Representations, Warranties and Covenants................................36
     6.2      Indemnity............................................................................36

ARTICLE 7 - GENERAL................................................................................36
     7.1      Time and Place of Closing............................................................36
     7.2      Notices..............................................................................36
     7.3      Confidentiality and Disclosure.......................................................37
     7.4      Dispute Resolution and Arbitration...................................................38
     7.5      Governing Law........................................................................38
     7.6      Binding Effect.......................................................................38
     7.7      Time of Essence......................................................................38
     7.8      Assignment...........................................................................38
     7.9      Further Assurances...................................................................39
     7.10     Expenses.............................................................................39
     7.11     Entire Agreement.....................................................................39
     7.12     Counterparts and Facsimile...........................................................40

SCHEDULE "A"             -  EQUIPMENT.............................................................A-1
SCHEDULE "B"             -  LANDS.................................................................B-1
SCHEDULE "C"             -  MATERIAL CONTRACTS....................................................C-1
SCHEDULE "D"             -  MINERAL RIGHTS........................................................D-1
SCHEDULE "E"             -  PERMITS AND LICENCES..................................................E-1
SCHEDULE "F"             -  PERMITTED ENCUMBRANCES................................................F-1
SCHEDULE "G"             -  FORM OF WARRANT CERTIFICATE...........................................G-1
SCHEDULE "H"             -  REQUIRED CONSENTS AND APPROVALS.......................................H-1
SCHEDULE "I"             -  FINANCIAL STATEMENTS..................................................I-1
SCHEDULE "J"             -  BANK FACILITIES.......................................................J-1
SCHEDULE "K"             -  ENVIRONMENTAL ORDERS OR AGREEMENTS....................................K-1
</TABLE>

                                      -ii-

<PAGE>

                            SHARE PURCHASE AGREEMENT

THIS AGREEMENT made the 29th day of August, 2002

AMONG:

                  VICEROY MINERALS CORPORATION, a company amalgamated under the
                  laws of British Columbia and having an office at Suite 900,
                  570 Granville Street, Vancouver, British Columbia, Canada V6C
                  3P1

                  ("VMC")

AND:

                  408178 BRITISH COLUMBIA LTD., a company incorporated under the
                  laws of the British Columbia and having an office at Suite
                  900, 570 Granville Street, Vancouver, British Columbia, Canada
                  V6C 3P1

                  ("HOLDCO")

AND:

                  VICEROY RESOURCE CORPORATION, a company amalgamated under the
                  laws of the British Columbia and having an office at Suite
                  900, 570 Granville Street, Vancouver, British Columbia, Canada
                  V6C 3P1

                  ("VICEROY")

AND:

                  VISTA GOLD CORP., a company continued under the laws of the
                  Yukon Territory and having an office at Suite 5, 7961 Shaffer
                  Parkway, Littleton, Colorado, U.S.A. 80127

                  ("VISTA")

AND:

                  GRANGES INC., a company incorporated under the laws of the
                  British Columbia and having its registered and records office
                  at 900 Waterfront Centre, 200 Burrard Street, P.O. Box 4860,
                  Vancouver, British Columbia, Canada V7X 1T2

                  ("GRANGES")

WHEREAS:

A.                VMC and HoldCo are the legal and beneficial owners of the
Purchased Shares (as  hereinafter defined);

B.                Vista and Granges have agreed to purchase and VMC and HoldCo
have agreed to sell their interests in the Purchased Shares (as hereinafter
defined) on the terms, at the time and subject to the conditions set forth
herein; and

<PAGE>

C.                VMC is a direct wholly-owned subsidiary of Viceroy, HoldCo is
an indirect wholly-owned subsidiary of Viceroy and Granges is a direct
wholly-owned subsidiary of Vista;

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the premises and
mutual covenants and agreements contained herein, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto hereby covenant and agree as follows:

                                    ARTICLE 1

                         DEFINITIONS AND INTERPRETATION

1.1               DEFINITIONS

                  In this Agreement and the recitals hereto, unless the context
otherwise requires, the following terms shall have the following respective
meanings:

         (a)      "ASSETS" means the Equipment, the Lands, the Mineral Rights,
                  the Permits and Licences, the Surface Rights, the Technical
                  Data and all of Paredones' right, title and interest in and to
                  all other assets, not otherwise specifically mentioned or
                  defined in this Agreement used by or relating to the Business;

         (b)      "BUSINESS" means all business carried on by Paredones in
                  connection with the Assets, including, without limitation, the
                  mineral exploration and mining business currently carried on
                  by Paredones in connection with the Assets;

         (c)      "BUSINESS DAY" means any day, other than Saturday, Sunday or a
                  statutory holiday in the Province of British Columbia;

         (d)      "CLAIM" means any claim, demand, action, cause of action,
                  damage, loss, cost, liability or expense, including, without
                  limitation, reasonable professional fees and all costs
                  incurred in investigating or pursuing any of the foregoing or
                  any proceeding relating to any of the foregoing;

         (e)      "CLOSING" means the closing of the purchase and sale of the
                  Purchased Shares contemplated herein;

         (f)      "CLOSING DATE" means August 29, 2002 or such other date as the
                  parties hereto may agree;

         (g)      "CONSTATING DOCUMENTS" means the memorandum, articles,
                  articles of incorporation, articles of continuance or articles
                  of amalgamation pursuant to which a corporation is
                  incorporated, continued or amalgamated, as the case may be,
                  together with any amendments thereto, and the by-laws of such
                  corporation and any shareholders' agreement which has been
                  executed by such corporation or which governs in whole or in
                  part such corporation's affairs;

         (h)      "ECHO BAY NET PROFIT OBLIGATION" means the 2% net profits
                  royalty on certain of the mining concessions comprising the
                  Mineral Rights (as described in item 3 of Part A of SCHEDULE
                  "C") governed by the terms of a letter agreement dated October
                  15, 1999, as amended by an amending agreement dated December
                  8, 1999, among Paredones, Echo Bay Mexico, S.A. de C.V.,
                  408178 British Columbia Ltd. and Minera Baja S.A. de C.V.

                                      -2-

<PAGE>

                  and as referred to in an agreement entered into solely for the
                  purposes of registering such royalty with the Public Registry
                  of Mining in Mexico dated as of January 1, 2000 among Echo Bay
                  Mexico, S.A. de C.V., HoldCo and Paredones;

         (i)      "ECHO BAY SERVICES AGREEMENT" means the administrative,
                  accounting, management, sales, production, contract,
                  supervision, consulting and monitoring agreement entered into
                  on August 4, 1995 between Paredones and Servicios Echo Bay,
                  S.A. de C.V.;

         (j)      "ENCUMBRANCES" means, whether or not registered or recorded,
                  any and all:

                  (i)      mortgages, assignments of rent, liens, licences,
                           leases, charges, security interests, hypothecations,
                           and pledges whether fixed or floating against
                           property (whether real, personal, mixed, tangible or
                           intangible), or conditional sales contracts or title
                           retention agreements or equipment trusts or financing
                           leases relating thereto, or any subordination to any
                           right or claim of others in respect thereof;

                  (ii)     claims, interests and estates against or in property
                           (whether real, personal, mixed, tangible or
                           intangible) including easements, rights-of-way,
                           servitudes or other similar rights in property
                           granted to or reserved or taken by any person or any
                           governmental body or authority;

                  (iii)    any option or other right to acquire, or acquire any
                           interest in, any property;

                  (iv)     any royalties; and

                  (v)      other encumbrances of whatsoever nature and kind
                           against property (whether real, personal, mixed,
                           tangible or intangible);

         (k)      "ENVIRONMENTAL CONTAMINATION" means the discharge, emission,
                  leaking, spilling, leaching, release or discharge into the
                  environment, including, without limitation, land, air and
                  water, of Hazardous Materials or other material, so as to
                  result in any harm, damage or hazard to the environment or to
                  any person, property or thing;

         (l)      "ENVIRONMENTAL LAWS" means all Laws or lawful requirements of
                  any Governmental Authority with respect to environmental and
                  health protection or regulating Hazardous Materials;

         (m)      "EQUIPMENT" means the equipment listed and described in
                  SCHEDULE "A" hereto and all supplies and all machinery,
                  equipment, automobiles, trucks, bulldozers, shovels, trailers,
                  tractors, office equipment, computer hardware and software,
                  yard equipment, furniture, furnishings and tools of all kinds
                  owned or leased by Paredones or otherwise used or intended for
                  use in connection with the Business;

         (n)      "FINANCIAL STATEMENTS" means the unaudited balance sheet of
                  Paredones as at July 31, 2002 attached hereto as SCHEDULE "I";

         (o)      "GOVERNMENTAL AUTHORITY" means any federal, provincial, state,
                  municipal, county or regional governmental or
                  quasi-governmental authority, domestic or foreign, and
                  includes any ministry, department, commission, bureau, board,
                  administrative or other agency, regulatory body or
                  instrumentality thereof, including, without limitation, any
                  securities commission, stock exchange or other securities
                  regulatory authority, whether a self-regulating body or
                  otherwise;

                                      -3-

<PAGE>

         (p)      "GOVERNMENTAL AUTHORIZATIONS" means all authorizations,
                  approvals, licenses, permits or quotas issued to Paredones in
                  connection with the Business or any of the Assets by any
                  Governmental Authorities;

         (q)      "HAZARDOUS MATERIALS" means any asbestos materials, urea
                  formaldehyde, explosives, radioactive materials, pollutants,
                  contaminants, hazardous substances, corrosive substances,
                  toxic substances, special wastes or wastes of any kind,
                  including, without limitation, compounds known as
                  chlorobiphenyls and any substance the storage, manufacture,
                  disposal, treatment, generation, use, transport, remediation
                  or release of which into the environment is prohibited,
                  controlled or licensed under Environmental Laws;

         (r)      "LANDS" means the surface interest in lands and premises
                  described in the agreements listed and described in SCHEDULE
                  "B" hereto, and all plant, improvements, appurtenances and
                  fixtures situated thereon or forming part thereof, including
                  without limitation, all buildings situated thereon within,
                  under or upon such lands and premises;

         (s)      "LAWS" means all applicable laws (including the common law),
                  legal provisions, by-laws, rules, rulings, regulations,
                  orders, ordinances, notices, injunctions, directions, decrees,
                  treaties, statutes and judgments or other requirements of any
                  Governmental Authority, all as in force at the date of this
                  Agreement;

         (t)      "LIABILITIES" means any and all debts, liabilities,
                  obligations, claims or demands of whatsoever nature or kind
                  and whether accrued, contingent, absolute, conditional or
                  otherwise and whether or not determined or determinable;

         (u)      "MATERIAL CONTRACTS" means the agreements listed and described
                  in SCHEDULE "C", the Surface Rights Agreements and any
                  agreement, whether written or oral, which is material to the
                  Business and for the purposes of this Agreement, a contract
                  shall be a Material Contract if:

                  (i)      performance of any right or obligation by any party
                           to such contract (other than a contract with a
                           customer in the ordinary course of business) may
                           occur over a period of time greater than one year;

                  (ii)     an expenditure, receipt, or transfer or other
                           disposition of property, with a value of greater than
                           $25,000 may arise under such contract; or

                  (iii)    such contract has been entered into other than in the
                           ordinary course of business;

         (v)      "MEXICO" means the United Mexican States;

         (w)      "MINERAL RIGHTS" means all water, water wells, water rights,
                  mining concessions, mining concession applications, leases,
                  mineral interests, easements, reserves or any other mineral
                  interests relating to the Business, including, without
                  limitation, the mining concessions and water concession listed
                  and described in SCHEDULE "D" hereto;

         (x)      "MISREPRESENTATION" means:

                  (i)      an untrue statement of a material fact; or

                                      -4-

<PAGE>

                  (ii)     an omission to state a material fact that is required
                           to be stated, or necessary to prevent a statement
                           that is made from being false or misleading in the
                           circumstances in which it was made;

         (y)      "PAREDONES" means Minera Paredones Amarillos, S.A. de C.V., a
                  company incorporated under the laws of Mexico;

         (z)      "PERMITS AND LICENCES" means the permits and licences listed
                  and described in SCHEDULE "E" hereto and all permits,
                  licences, consents, orders, authorizations, directions,
                  approvals, privileges, waivers, exemptions, certificates,
                  rulings or other concessions, granted by or entered into with
                  any Governmental Authority, or otherwise held by Paredones,
                  relating to the operation, ownership or leasing of the
                  Purchased Assets;

         (aa)     "PERMITTED ENCUMBRANCES" means (i) Encumbrances for taxes,
                  assessments or governmental charges or levies on property not
                  yet due or delinquent, (ii) easements, encroachments and other
                  minor imperfections of title which do not, individually or in
                  the aggregate, materially detract from the value or impair the
                  use or marketability of the Assets or any property whether
                  real or personal, (iii) Encumbrances granted by Vista or
                  Granges, and (iv) Encumbrances described in SCHEDULE "F"
                  hereto;

         (bb)     "PERSON" means an individual, sole proprietorship,
                  partnership, unincorporated association, unincorporated
                  syndicate, unincorporated organization, trust, body corporate,
                  a trustee, executor, administrator or other legal
                  representative, and any Governmental Authority;

         (cc)     "PURCHASE PRICE" has the meaning ascribed thereto in Section
                  2.2;

         (dd)     "PURCHASED SHARES" means the 103,913,986 issued and
                  outstanding common shares with MexCy $1.00 par value in the
                  capital of Paredones being sold by VMC and HoldCo and
                  purchased by Vista and Granges under this Agreement;

         (ee)     "SEC" means the United States Securities and Exchange
                  Commission;

         (ff)     "SECURITIES LAWS" means the applicable securities laws of the
                  Province of British Columbia and the respective regulations
                  made and forms prescribed thereunder, together with all
                  applicable published policy statements and blanket orders and
                  rulings of the British Columbia Securities Commission and the
                  Canadian Securities Administrators;

         (gg)     "STOCK EXCHANGES" means the Toronto Stock Exchange and the
                  American Stock Exchange;

         (hh)     "SURFACE RIGHTS" means any right, interest or benefit
                  conferred upon Paredones pursuant to the terms of any Surface
                  Rights Agreement;

         (ii)     "SURFACE RIGHTS AGREEMENTS" means the agreements listed and
                  described in SCHEDULE "C" hereto under the heading "Surface
                  Rights Agreements" and any other purchase, easement, right of
                  way, lease or like agreement between or among Paredones and
                  the owners of any surface interests associated with the Lands
                  and the Mineral Rights;

         (jj)     "TAXES" include, without limitation, all taxes, duties, fees,
                  premiums, assessments, imposts, levies and other charges of
                  any kind whatsoever imposed by any Governmental

                                      -5-

<PAGE>

                  Authority, together with all interest, penalties, fines,
                  additions or taxes or other additional amounts imposed in
                  respect thereof (including, without limitation, those levied
                  on, or measured by, or referred to as income, gross receipts,
                  profits, capital, transfer, land transfer, sales, goods and
                  services, use, value-added, excise, stamp, withholding,
                  business, franchising, property, payroll, employment, health,
                  social service, education and social security taxes, all
                  surtaxes, all customs duties and import and export taxes, all
                  licence, franchise and registration fees, and all unemployment
                  insurance, health insurance and Canada and other government
                  pension plan premium);

         (kk)     "TECHNICAL DATA" means all technical information and data in
                  the possession or control of Paredones, VMC, HoldCo or
                  Viceroy, including without limitation, all geological,
                  geophysical, environmental and engineering reports, studies,
                  maps, drawings, electronic and computer programs and
                  databases, drill core cuttings and samples, from, related to
                  or in any way pertaining to the Business, and expressly
                  including all such data located in Viceroy's offices in
                  Vancouver, British Columbia; in Paredones' offices in La Paz,
                  Mexico; in Casa Plaza, San Antonio in Baja California Sur,
                  Mexico; and in the buildings and structures known as Casa Azul
                  and Casa Verde at the project site in Baja California Sur,
                  Mexico;

         (ll)     "UNITED STATES" or "U.S." means the United States of America;

         (mm)     "U.S. EXCHANGE ACT" means the SECURITIES EXCHANGE ACT OF 1934,
                  as amended, of the United States of America;

         (nn)     "U.S. PERSON" means a U.S. person as that term is defined in
                  Regulation S under the U.S. Securities Act;

         (oo)     "U.S. SECURITIES ACT" means the SECURITIES ACT OF 1933, as
                  amended, of the United States of America;

         (pp)     "U.S. SECURITIES LAWS" means the U.S. Securities Act, the U.S.
                  Exchange Act, the securities laws of each applicable state of
                  the United States and the regulations promulgated under each
                  such act or law;

         (qq)     "VISTA SECURITIES" means collectively, the Vista Shares, the
                  Vista Warrants and the Vista Warrant Shares;

         (rr)     "VISTA SHARES" means the common shares in the capital of Vista
                  to be issued to Viceroy at the Closing as partial
                  consideration for the Purchased Shares;

         (ss)     "VISTA UNITS" means the units of Vista to be issued to Viceroy
                  at the Closing as partial consideration for the Purchased
                  Shares, consisting of one Vista Share and one Vista Warrant
                  and having a purchase price of $4.95 per Vista Unit, such
                  price being equal to 90% of the average weighted closing price
                  per share of the common shares in the capital of Vista on the
                  Toronto Stock Exchange on the five trading days immediately
                  preceding the date of this Agreement;

         (tt)     "VISTA WARRANTS" means the common share purchase warrants of
                  Vista to be issued to Viceroy at the Closing as partial
                  consideration for the Purchased Shares and governed by the
                  terms of the Warrant Certificate, entitling the holder of each
                  whole warrant to purchase one Vista Warrant Share at any time
                  prior to 4:30 p.m. (Vancouver time) August 29, 2004 for an
                  exercise price of $6.87, such exercise price being equal to
                  125%

                                      -6-

<PAGE>

                  of the weighted average closing price per share of the common
                  shares in the capital of Vista on the Toronto Stock Exchange
                  on the five trading days immediately preceding the date of
                  this Agreement;

         (uu)     "VISTA WARRANT SHARES" means the common shares in the capital
                  of Vista issuable to holders of Vista Warrants upon the
                  exercise of the Vista Warrants in accordance with their terms;
                  and

         (vv)     "WARRANT CERTIFICATE" means the warrant certificate governing
                  the terms of the Vista Warrants in substantially in the form
                  attached as SCHEDULE "G" hereto.

1.2               INTERPRETATION

                  For the purposes of this Agreement, except as otherwise
expressly provided:

         (a)      "THIS AGREEMENT" means this Agreement, including the recitals
                  hereto, and not any particular Article, Section, Subsection or
                  other subdivision or recital hereof, and includes any
                  agreement, document or instrument entered into, made or
                  delivered pursuant to the terms hereof, as the same may, from
                  time to time, be supplemented or amended and in effect;

         (b)      the words "HEREOF", "HEREIN", "HERETO" and "HEREUNDER" and
                  other words of similar import refer to this Agreement as a
                  whole and not to any particular Article, Section, Subsection,
                  or other subdivision or recital hereof;

         (c)      the division of this Agreement into Articles, Sections,
                  Subsections, and other subdivisions or recitals, and the
                  insertion of headings are for convenience of reference only
                  and are not intended to interpret, define or limit the scope,
                  extent or intent of this Agreement or any provision hereof;

         (d)      all references to currency in this Agreement are to lawful
                  money of Canada and all amounts to be calculated or paid
                  pursuant to this Agreement are to be calculated in lawful
                  money of Canada;

         (e)      a reference to a statute in this Agreement includes all
                  regulations or rules made thereunder, all amendments to the
                  statute, regulations or rules in force as at the date of this
                  Agreement, and any statutes, regulations or rules that
                  supplement or supersede such statutes, regulations or rules;

         (f)      the singular of any term includes the plural, and vice versa,
                  and the use of any term is generally applicable to any gender
                  and, where applicable, a body corporate, firm or other entity,
                  and the word "OR" is not exclusive and the word "INCLUDING" is
                  not limiting, whether or not non-limiting language (such as
                  "WITHOUT LIMITATION" or "BUT NOT LIMITED TO" or words of
                  similar import) is used with reference thereto;

         (g)      in the event that any date on which any action is required to
                  be taken hereunder by any of the parties hereto is not a
                  Business Day, such action shall be required to be taken on the
                  next succeeding day which is a Business Day;

         (h)      all references to "APPROVAL", "AUTHORIZATION" or "CONSENT" in
                  this Agreement means written approval, authorization or
                  consent; and

                                      -7-

<PAGE>

         (i)      whenever a representation, warranty or covenant with respect
                  to the existence or absence of facts or circumstances is
                  qualified by any of the phrases "to the knowledge of", "of
                  which a party is aware", "party is not aware of" or words of
                  similar nature, it is intended to indicate that no information
                  has come to the attention of the party making the
                  representation, warranty or covenant which would give the
                  party actual knowledge that such facts or circumstances do not
                  exist or are absent, without such party having undertaken any
                  special or independent investigation to determine the
                  existence or absence of such facts or circumstances other than
                  an examination of the party's files, documents, data and other
                  information within the party's possession.

1.3               SCHEDULES

                  The following schedules are attached to this Agreement and
shall be deemed to be incorporated in and form a part hereof:
<TABLE>
<CAPTION>

                  SCHEDULE                  TITLE

                  <S>                       <C>
                  Schedule "A"              Equipment
                  Schedule "B"              Lands
                  Schedule "C"              Material Contracts
                  Schedule "D"              Mineral Rights
                  Schedule "E"              Permits and Licences
                  Schedule "F"              Permitted Encumbrances
                  Schedule "G"              Form of Warrant Certificate
                  Schedule "H"              Required Consents and Approvals
                  Schedule "I"              Financial Statements
                  Schedule "J"              Bank Facilities
                  Schedule "K"              Environmental Orders or Agreements
</TABLE>

                                    ARTICLE 2

                                PURCHASE AND SALE

2.1               PURCHASE AND SALE OF PURCHASED SHARES

                  Subject to the terms and conditions contained in this
Agreement, VMC and HoldCo hereby agree to sell, assign and transfer to Vista and
Granges, and Vista and Granges hereby agree to purchase from VMC and HoldCo at
the Closing all of the Purchased Shares, free and clear of all Encumbrances,
except any Permitted Encumbrances, for the Purchase Price.

2.2               PURCHASE PRICE

                  Subject to the terms and conditions contained in this
Agreement, the aggregate purchase price for the Purchased Shares shall be
$3,000,000 (the "PURCHASE PRICE"). Both VMC and HoldCo acknowledge that the
Purchase Price shall be allocated between them PRO RATA in proportion to their
respective percentage interests in the Purchased Shares and that Viceroy shall
receive their respective shares of the Purchase Price at the Closing merely as
their nominee.

                                      -8-

<PAGE>

2.3               PAYMENT OF THE PURCHASE PRICE

                  The Purchase Price shall be paid and satisfied as follows:

         (a)      on the Closing Date, Vista shall pay to Viceroy, as nominee
                  for VMC and HoldCo, the sum of $1,000,000;

         (b)      on the Closing Date, Vista shall issue to Viceroy, as nominee
                  for VMC and HoldCo, 303,030 Vista Units having an equivalent
                  cash value of $1,500,000; and

         (c)      on the first Business Day that is one calendar year after the
                  Closing Date, Vista shall pay to Viceroy, as nominee for VMC
                  and HoldCo, the sum of $500,000 less any amount to be offset
                  against this amount in accordance with section 6.2.

                                    ARTICLE 3

                         REPRESENTATIONS AND WARRANTIES

3.1               REPRESENTATIONS AND WARRANTIES OF VMC AND HOLDCO

                  VMC and HoldCo each represent and warrant to and in favour of
Vista and Granges as follows, and acknowledge that, Vista and Granges are
relying upon such representations and warranties in addition to the due
diligence and investigations undertaken by Vista and Granges prior to the
Closing as an inducement to enter into this Agreement and to consummate the
transactions contemplated hereby:

(1)               CORPORATE STATUS AND AUTHORITY

         (a)      CORPORATE STATUS OF VMC. VMC is duly amalgamated and validly
                  exists under the laws of the Province of British Columbia and
                  is in good standing under the COMPANY ACT (British Columbia).

         (b)      CORPORATE STATUS OF HOLDCO. HoldCo is duly incorporated and
                  validly exists under the laws of the Province of British
                  Columbia and is in good standing under the COMPANY ACT
                  (British Columbia).

         (c)      CORPORATE STATUS OF PAREDONES. Paredones is duly incorporated,
                  validly exists and is in good standing under the applicable
                  Laws of Mexico.

         (d)      CORPORATE POWER AND CAPACITY OF VMC AND HOLDCO TO ENTER INTO
                  AND PERFORM AGREEMENT. Each of VMC and HoldCo has the
                  corporate power and authority to own and hold the Purchased
                  Shares, to enter into this Agreement, to consummate all
                  transactions contemplated herein, to perform its obligations
                  hereunder, and to transfer legal title to and beneficial
                  ownership of the Purchased Shares to Vista and Granges on the
                  terms and conditions hereof, free and clear of Encumbrances,
                  except Permitted Encumbrances.

         (e)      NO BANKRUPTCY PROCEEDINGS. No proceedings have been taken or
                  authorized by VMC, HoldCo or Paredones, or to the best of the
                  knowledge of VMC and HoldCo, by any other person, with respect
                  to the bankruptcy, insolvency, liquidation, dissolution, or
                  winding-up of VMC, HoldCo or Paredones.

         (f)      POWER AND CAPACITY OF PAREDONES. Paredones has all requisite
                  power and capacity to own and lease its Assets and carry on
                  its Business.

                                      -9-

<PAGE>

         (g)      SUBSIDIARIES. Paredones has no subsidiaries or investments in
                  other corporate entities.

         (h)      CORPORATE RECORDS. To the knowledge of VMC and HoldCo, the
                  corporate records of VMC, HoldCo and Paredones, as required to
                  be maintained by VMC, HoldCo and Paredones under applicable
                  corporate statutes, including, without limitation, the
                  Constating Documents of VMC, HoldCo and Paredones, are
                  accurate, complete and up-to-date in all material respects and
                  all material transactions of Paredones have been properly
                  recorded in its books or filed with its records.

         (i)      NOTICES. To the knowledge of VMC and HoldCo, Paredones has
                  duly filed all required notices or other documentation with
                  all applicable Mexican Governmental Authorities and in
                  accordance with applicable Mexican Laws.

(2)               NO DEFAULT

                  To the knowledge of VMC and HoldCo, the execution and delivery
of this Agreement, the consummation of the transactions contemplated hereby, or
the fulfilment of or compliance with the terms and provisions hereof do not and
shall not, and do not create a state of facts which after notice or lapse of
time or both shall:

         (a)      result in the breach of or violate any term or provision of
                  the Constating Documents of Paredones, VMC or HoldCo;

         (b)      conflict with, result in the breach of, constitute a default
                  under, or accelerate or permit the acceleration of the
                  obligations of Paredones, VMC or HoldCo under, any Material
                  Contract;

         (c)      result in the cancellation, suspension or alteration in the
                  terms of any Government Authorization;

         (d)      result in the creation of any Encumbrance upon any of the
                  Assets other than the Permitted Encumbrances;

         (e)      require the consent of any person pursuant to any Material
                  Contract, except as disclosed in SCHEDULE "H";

         (f)      give any person other than the parties hereto any material
                  interest or right, including, without limitation, rights of
                  purchase, termination, cancellation or acceleration under any
                  Material Contract or Government Authorization;

         (g)      subject to compliance with disclosure requirements under
                  applicable securities legislation and the rules, by-laws and
                  policies of any stock exchange having jurisdiction, conflict
                  with, breach, or violate any of the terms, conditions or
                  provisions of any Law, or any judgment, order, injunction,
                  decree, regulation or ruling of any court or stock exchange
                  having jurisdiction; or

         (h) result in the imposition of any Taxes on Paredones or the Assets.

(3)               SHARE CAPITAL

         (a)      SHARE CAPITAL. The authorized share capital of Paredones
                  consists of 103,918,986 common shares with MexCy $1.00 par
                  value, all of which shares have been duly and validly
                  subscribed for and issued and are outstanding as fully-paid
                  and non-assessable

                                      -10-

<PAGE>

                  shares as at the date hereof. No other shares in the capital
                  of Paredones are issued and outstanding as at the date hereof.

         (b)      SHAREHOLDERS. VMC and HoldCo are the sole legal and beneficial
                  holders of all of the subscribed, issued and outstanding
                  common shares of Paredones.

         (c)      NO OPTIONS. No person has any option, warrant, right, call,
                  commitment, conversion right, right of exchange or other
                  agreement, present or future, contingent or absolute, or any
                  right or privilege (whether by law, pre-emptive or
                  contractual) capable of becoming an option, warrant, right,
                  call, commitment, conversion right, right of exchange or other
                  agreement for the purchase, subscription, allotment or
                  issuance of any of the unissued common shares, financial
                  instruments convertible into common shares or other securities
                  of Paredones.

(4)               FINANCIAL MATTERS

         (a)      FINANCIAL STATEMENTS. The Financial Statements have been
                  prepared in accordance with generally accepted accounting
                  principles in Mexico and to the knowledge of VMC and HoldCo,
                  present fairly and accurately in every material respect the
                  assets, liabilities (whether accrued, absolute, contingent or
                  otherwise) and financial condition of Paredones as of the date
                  of such statements, and the results of the operations of
                  Paredones during the periods covered by such statements.

         (b)      LIABILITIES. Except as disclosed in the Financial Statements,
                  to the knowledge of VMC and HoldCo, Paredones had no material
                  Liabilities as of the date of the Financial Statements.

(5)               MATERIAL CHANGES

                  Except as contemplated by this Agreement, Paredones has not,
since the date of the Financial Statements:

         (a)      experienced any adverse material change in the business,
                  operations, assets, liabilities, ownership, capital or
                  financial position or condition of Paredones, or any change in
                  a material fact that has a significant adverse effect on, or
                  would reasonably be expected to have a significant adverse
                  effect on, the business, operations, assets, liabilities,
                  ownership, capital or financial position or condition of
                  Paredones, including, without limitation, the Business, the
                  Assets and the Liabilities;

         (b)      transferred, assigned, sold or otherwise disposed of any part
                  of the Business or any of the Assets, except in the normal
                  course of business;

         (c)      incurred or assumed any material Liability, except unsecured
                  current obligations and liabilities incurred in the ordinary
                  and usual course of business;

         (d)      discharged or satisfied any Encumbrance, or paid any
                  obligation or Liability;

         (e)      suffered an extraordinary loss (before interest or taxes),
                  waived, surrendered or omitted to take any action in respect
                  of any rights of substantial value or entered into any
                  commitment or transaction not in the normal course of
                  business, where such loss, rights, commitment or transaction
                  is or would be material in relation to the Assets or the
                  Business;

                                      -11-

<PAGE>

         (f)      granted any bonuses, whether monetary or otherwise, or made
                  any general wage or salary increases in respect of employees
                  or officers employed by Paredones other than as provided for
                  in existing employment arrangements, or changed the terms of
                  employment for any employee or officer of Paredones;

         (g)      hired or dismissed any employee or officer of Paredones;

         (h)      granted any Encumbrance in respect of any of the Assets;

         (i)      declared or paid any dividend or declared or made any other
                  distribution on any of the Purchased Shares or redeemed,
                  purchased or otherwise acquired any of the Purchased Shares;
                  or

         (j)      authorized, agreed or otherwise become committed to do any of
                  the foregoing.

(6)               BANKING

         (a)      LOANS AND CREDIT FACILITIES. Paredones has not entered into,
                  committed to or otherwise arranged for, any loans, operating
                  lines of credit or other credit facilities (including, without
                  limitation, letters of credit, interest rate or currency
                  swaps, hedging contracts, forward loan or rate agreements or
                  other financial instruments), nor does Paredones have any
                  outstanding bonds, debentures, mortgages, notes or other
                  similar indebtedness, and nor is Paredones obligated to create
                  or issue any bonds, debentures, mortgages, notes or other
                  similar indebtedness or financial instruments other than
                  intercorporate advances, all of which have been capitalized as
                  disclosed to Vista and Granges.

         (b)      GUARANTEES/INDEMNITIES. Paredones has not directly or
                  indirectly guaranteed or indemnified, or agreed to guarantee
                  or indemnify, or agreed to any other like commitment, in
                  respect of any debt, liability or other obligation of any
                  person.

         (c)      BANK FACILITIES. SCHEDULE "J" hereto contains a complete and
                  accurate listing showing the name of each bank, trust company
                  or similar financial institution in which Paredones has an
                  account, safety deposit box or other banking facility (of the
                  nature described in SCHEDULE "J" hereto), including the names
                  of all persons authorized to transact business in respect of
                  such accounts, and each corporate credit card issued to
                  Paredones.

(7)               MATERIAL CONTRACTS

                  To the knowledge of VMC and HoldCo, SCHEDULE "C" hereto
contains a complete and accurate list of all Material Contracts. VMC and HoldCo
make no representation or warranty as to whether or not Paredones is in breach
or default of any of the terms of any Material Contract, but neither VMC nor
HoldCo is aware of any breach or default of any of the terms of any Material
Contract by any party thereto. VMC and HoldCo make no representation or warranty
as to whether or not each such Material Contract is in good standing and in full
force and effect without amendment thereto.

(8)               ASSETS AND PROPERTY

         (a)      OWNERSHIP OF ASSETS. To the knowledge of VMC and HoldCo,
                  Paredones owns good and marketable title to, and is in actual
                  and exclusive possession and control of, the Assets, free and
                  clear of Encumbrances, except Permitted Encumbrances, and
                  without limiting the generality of the foregoing, Paredones
                  owns and is in actual and exclusive possession and

                                      -12-

<PAGE>

                  control of the Mineral Rights described in SCHEDULE "D" hereto
                  free and clear of Encumbrances, except Permitted Encumbrances.

         (b)      CONFLICTING RIGHT OR INTEREST. To the knowledge of VMC and
                  HoldCo, there is no right or interest in any of the Assets
                  asserted by others because of overlapping or conflicting
                  mining concessions.

         (c)      TAXES. To the knowledge of VMC and HoldCo, all AD VALOREM,
                  property, production, severance, windfall profits, municipal,
                  school, general and special taxes, rates, assessments, local
                  improvements charges, business taxes, development cost
                  charges, other subdivision charges, environmental fines,
                  charges and levies and costs and other levies which are
                  chargeable against, based on or measured by the ownership of
                  any of the Assets, or by production of minerals, or the
                  receipt of proceeds therefrom that have become due and payable
                  with respect to any of the Assets have been paid timely and in
                  the correct amounts and all tax and information returns to
                  Governmental Authorities required to be filed with respect to
                  the Assets and Business have been timely and properly filed.

         (d)      ZONING. VMC and HoldCo make no representation or warranty that
                  all Lands are zoned to permit the particular activity carried
                  out on such Lands by Paredones and its authorized agents or
                  any person to whom Paredones has given occupancy rights in
                  respect of such Lands.

         (e)      ROYALTY PAYMENTS. VMC and HoldCo are not aware of any
                  landowner's royalties, overriding royalties, net profits
                  interests, working interests or similar interests on or in
                  relation to any of the Assets other than the Echo Bay Net
                  Profit Obligation and the royalty payable and the grant of a
                  right of first refusal made under the terms of the "Arbol de
                  Oro Royalty Agreement" which is listed as item 1 in part A of
                  SCHEDULE "C".

         (f)      OPERATING CONDITIONS. To the knowledge of VMC and HoldCo,
                  Paredones has operated the Assets and the Business in
                  accordance with accepted industry standards and in accordance
                  with all Permits and Licences and with applicable Laws. VMC
                  and HoldCo make no representation or warranty that the
                  Equipment comprised in the Assets is in good operating
                  condition and VMC and HoldCo represent and warrant that
                  Equipment is provided on an "as is where is" basis.

         (g)      PROPER PERFORMANCE. To the knowledge of VMC and HoldCo,
                  Paredones owns the entire and undivided title to, and holds
                  exclusive possession and control of the Mineral Rights,
                  including those listed and described in SCHEDULE "D", free and
                  clear of all defects, liens and adverse claims of any nature
                  whatsoever, except for the rights and interests of third
                  parties pursuant to the contracts listed in SCHEDULE "C". To
                  the knowledge of VMC and HoldCo, Paredones does not own any
                  Mineral Rights in the State of Baja California Sur or
                  otherwise other than those described in SCHEDULE "D". Other
                  than as described in SCHEDULE "D", to the knowledge of VMC and
                  HoldCo all documents required to be filed with the applicable
                  governmental authorities with respect to the Mineral Rights,
                  including, without limitation, proofs of assessment work,
                  technical reports, applications to group concessions for
                  purposes of proving assessment works and applications to
                  convert exploration concessions into exploitation concessions,
                  have been filed in a proper and timely manner; all mining
                  duties required to be paid with respect to the Mineral Rights
                  have been paid in a proper and timely manner; the Mineral
                  Rights are valid and in good standing and Paredones has not
                  received any notice of any deficiencies or of cancellation of
                  any of the Mineral Rights.

                                      -13-

<PAGE>

         (h)      LIST OF MINERAL RIGHTS. To the knowledge of VMC and HoldCo,
                  there are no Mineral Rights comprised in the Assets other than
                  those described in SCHEDULE "D" hereto and such schedule
                  accurately identifies such Mineral Rights.

         (i)      LIST OF LANDS. To the knowledge of VMC and HoldCo, there are
                  no Lands comprised in the Assets other than those described in
                  the agreements listed and described in SCHEDULE "B" hereto and
                  such schedule accurately identifies such agreements.

         (j)      LIST OF EQUIPMENT. To the knowledge of VMC and HoldCo, there
                  is no Equipment comprised in the Assets other than as
                  described in the list of Equipment set out in SCHEDULE "A"
                  hereto and such schedule accurately identifies such Equipment.

(9)               HAZARDOUS MATERIALS AND ENVIRONMENTAL LAWS

                  The representations and warranties set out in this Section
3.1(9) are to the knowledge of VMC and HoldCo, and such representations and
warranties are effective only for activities undertaken in respect of the Assets
subsequent to December 31, 1999 when Paredones assumed the role of operator of
the mineral project in respect of the Mineral Rights.

         (a)      HAZARDOUS MATERIALS AND COMPLIANCE WITH ENVIRONMENTAL LAWS. No
                  Hazardous Materials, or other material used in or generated by
                  any of the Assets or the Business, have been or are currently
                  placed, used, stored, treated, manufactured, disposed of,
                  released, discharged, spilled or emitted in violation of any
                  Environmental Laws or Governmental Authorizations. All
                  Hazardous Materials disposed of, removed, emitted, treated,
                  released, discharged or spilled from or by any of the Assets
                  or the Business were and are documented, generated, handled,
                  transported, stored, treated and disposed of in compliance
                  with all Environmental Laws and Governmental Authorizations.

         (b)      WASTE DISPOSAL. All of the Assets that were or are used for
                  the generation, handling, treatment, storage or disposal of
                  Hazardous Materials or other material used in or generated by
                  the Assets or the Business on any of the Lands or on any of
                  the Mineral Rights have been and are properly permitted and
                  operated in compliance with all Environmental Laws.

         (c)      ENVIRONMENTAL CONTAMINATION. There is no Environmental
                  Contamination of any of the Assets or the Business.

         (d)      ENVIRONMENTAL ORDERS OR AGREEMENTS. There are no orders,
                  agreements or consent orders to which Paredones, VMC or HoldCo
                  is a party relating to compliance of any of the Assets or the
                  Business with Environmental Laws other than as set forth in
                  SCHEDULE "K" hereto.

         (e)      ENVIRONMENTAL CLAIMS. There have been no orders issued or, to
                  the knowledge of VMC or HoldCo, threatened and no
                  investigations, removal, remedial or response actions ordered,
                  conducted, taken or threatened under or pursuant to any
                  Environmental Laws with respect to the Assets or the Business
                  or any other businesses conducted on or from any of the Lands
                  or Mineral Rights other than routine inspections. No claims
                  are pending or, to the knowledge of VMC or HoldCo, threatened
                  with respect to Environmental Contamination on any of the
                  Lands or Mineral Rights or the violation of any Environmental
                  Laws in connection with the Assets or the Business.

                                      -14-

<PAGE>

         (f)      PERMITS. VMC and HoldCo make no representation or warranty
                  that all permits, licences, approvals, authorizations,
                  consents, registrations or other actions required under
                  Environmental Laws to explore and exploit the Mineral Rights
                  and own and operate the Business have been obtained, or that
                  all terms and conditions attached thereto have been duly
                  complied with in all material respects, or that all such
                  licences, approvals, authorizations, consents and
                  registrations are in full force and effect and in good
                  standing.

         (g)      ADVERSE PROCEEDINGS. There have been no administrative or
                  judicial proceedings, actions or claims commenced or
                  threatened with respect to the Assets or the Business or any
                  other business conducted on the Lands or on any Mineral Rights
                  under Environmental Laws or as a result of Environment
                  Contamination.

         (h)      NUISANCE. The use of, and operations relating to, the Assets
                  and the Business conducted on or from the Lands or Mineral
                  Rights, do not constitute a nuisance of any nature, nor has
                  any such claim for nuisance been made or threatened in respect
                  of such use by any person.

(10)              LEGAL AND REGULATORY MATTERS

                  The representations and warranties set out in this Section
3.1(10) are to the knowledge of VMC and HoldCo, and such representations and
warranties are effective only for activities undertaken in respect of the Assets
subsequent to December 31, 1999 when Paredones assumed the role of operator of
the mineral project in respect of the Mineral Rights.

         (a)      LITIGATION. There are no actions, suits, litigations,
                  arbitrations, proceedings or claims in progress, pending or
                  threatened against or relating to Paredones, VMC or HoldCo or
                  likely to affect any of the Business or the Assets, there is
                  no circumstance, matter or thing known to VMC or HoldCo which
                  might reasonably give rise to any such proceeding and there is
                  not outstanding or threatened against Paredones, VMC or HoldCo
                  any judgment, decree, injunction, rule or order of or by any
                  court or Governmental Authority having jurisdiction.

         (b)      COMPLIANCE WITH LAWS. The operation of the Business is
                  conducted in compliance in all material respects with all
                  applicable Laws of each jurisdiction in which the Business has
                  been and is carried out and none of Paredones, VMC or HoldCo
                  have received any notice of any alleged material breach or
                  violation of any such Laws.

         (c)      COMPLIANCE DIRECTIVES. There are no outstanding compliance
                  directives or work orders relating the Assets or the Business
                  from any police, fire department, sanitation, health
                  authorities, environmental agencies, or from any other
                  Government Authority, department or agency, nor does
                  Paredones, VMC or HoldCo have notice that there are any
                  matters under consideration by such authorities relating to
                  the Assets.

         (d)      NOTICE OF DEFAULT/CLAIMS. None of Paredones, VMC or HoldCo has
                  received, in respect of the Assets or the Business from any
                  Governmental Authority or a third party, any notice of
                  violation of any law or regulation or of any default,
                  violation or termination of any permits and licenses or of any
                  fact or circumstance which shall, or is likely to, result in
                  such a default, violation or termination.

         (e)      NO SEIZURE. There is no eminent domain, appropriation,
                  expropriation or seizure proceeding in respect of the Assets
                  or the Business that is pending or that has been threatened.

                                      -15-

<PAGE>

         (f)      LICENSES, REGISTRATIONS AND PERMITS. Paredones is duly
                  qualified to carry on, and holds all licenses, registrations
                  and permits as may be required for carrying on, the Business
                  in all jurisdictions in which the nature of the Business or
                  the Assets make such qualification, licenses, registrations
                  and permits necessary.

(11)              TAXATION

         (a)      ACTIONS OR CLAIMS. To the knowledge of VMC and HoldCo, there
                  are no actions, suits, claims, proceedings, investigations or
                  audits now pending or, to the knowledge of VMC or HoldCo,
                  threatened against Paredones, VMC or HoldCo in respect of any
                  Taxes affecting the Assets or the Business and there are no
                  matters under discussion, audit or appeal with any
                  Governmental Authority relating to Taxes which, if not paid,
                  would result in a lien or charge on any of the Assets or the
                  Purchased Shares. Paredones has fulfilled all requirements
                  under Laws for withholding of amounts from employees and has
                  remitted all amounts withheld to the appropriate authorities
                  within the prescribed times.

         (b)      TAXATION OF PURCHASED SHARES. The purchase and sale of the
                  Purchased Shares is exempt from the payment of income tax in
                  Mexico pursuant to that set forth in article 13 of the
                  "Convention between the Government of the United Mexican
                  States and the Government of Canada for the Avoidance of
                  Double Taxation and the Prevention of Fiscal Evasion with
                  respect to Taxes on Income".

(12)              EMPLOYMENT MATTERS

                  The representations and warranties set out in this Section
3.1(12) are to the knowledge of VMC and HoldCo, and such representations and
warranties are effective only for activities undertaken in respect of the Assets
subsequent to December 31, 1999 when Paredones assumed the role of operator of
the mineral project in respect of the Mineral Rights.

         (a)      NO EMPLOYEES. Paredones has no employees, has not retained any
                  person as its agent or contractor, or to otherwise provided
                  services to or for it, other than pursuant to the Echo Bay
                  Services Agreement, and has no outstanding liabilities or
                  obligations with respect to former employees, agents or
                  contractors of Paredones or any other person including Viceroy
                  or any other person.

         (b)      ECHO BAY SERVICES AGREEMENT. Paredones is not in breach or
                  default of any of the terms of the Echo Bay Services Agreement
                  and may terminate the Echo Bay Services Agreement at any time
                  and at its sole discretion in accordance with its terms.
                  Paredones has, at no time, retained any employee of Servicios
                  Echo Bay, S.A. de C.V. as an employee of Paredones.

         (c)      EMPLOYEE CONTRACTS. Paredones is not a party and has no
                  obligations with respect to:

                  (i)      any written or oral contract or commitment for the
                           employment of any officer or employee;

                  (ii)     any agreement relating to the termination or notice
                           of termination of any employee which requires a
                           specified notice period or salary in lieu of notice;

                  (iii)    any contract with or commitment to any labour union
                           or employees' association;

                  (iv)     any pension, profit sharing, deferred compensation,
                           retirement, hospitalization, health, disability,
                           termination, insurance or similar plan or practice,
                           formal or

                                      -16-

<PAGE>

                           informal, with respect to its employees, former
                           employees or others, other than a stock option plan
                           or a group benefits plan; and

                  (v)      any other contract that requires more than six
                           months' notice of termination.

         (d)      UNIONS. There are no current attempts to organize or establish
                  any labour union or employee association with respect to
                  Paredones.

         (e)      NO GOLDEN PARACHUTES. Neither the execution and delivery of
                  this Agreement nor the consummation of any of the transactions
                  contemplated hereby or thereby, whether individually or in the
                  aggregate, shall:

                  (i)      result in any payment (including, without limitation,
                           a severance, unemployment compensation, termination,
                           "golden parachute", bonus or other payment) becoming
                           due to any director, officer, employee, agent or
                           contractor of Paredones or of any other person
                           including Viceroy for which Paredones would be liable
                           in whole or in part under any plan, agreement or
                           otherwise; or

                  (ii)     materially increase or result in the acceleration of
                           the time of payment of any salary or benefits
                           otherwise payable by Paredones to any director,
                           officer, employee, agent or contractor of Paredones
                           or of any other person including Viceroy for which
                           Paredones would be liable in whole or in part.

         (f)      NO EMPLOYMENT DISPUTES. Paredones has not terminated the
                  employment of any employee in circumstances that may give rise
                  to a claim by such employee for wrongful dismissal. No notice
                  has been received by Paredones, VMC or HoldCo of any complaint
                  filed by any of its former employees against it, claiming that
                  it has violated any applicable employment standards or human
                  rights or similar legislation or of any applications,
                  complaints or proceedings of any kind involving Paredones or
                  any of its former employees before any court, labour relations
                  board or similar tribunal. There are no pending or threatened
                  work stoppages or labour disputes, charges or unfair labour
                  practices by any present or former employees of Paredones. No
                  event has occurred with respect to VMC, HoldCo or Paredones
                  which is likely to result in any claim or action against
                  Paredones under any Laws related to employment or social
                  security matters or any increase in social insurance payroll
                  assessments or any similar assessment payable by Paredones.

(13)              BINDING AGREEMENT

                  This Agreement has been duly executed and delivered by VMC and
HoldCo and constitutes a legal, valid and binding obligation of VMC and HoldCo.

(14)              OWNERSHIP OF PURCHASED SHARES

         (a)      VMC and HoldCo are the legal and beneficial owners of the
                  Purchased Shares, free and clear of all Encumbrances, except
                  Permitted Encumbrances.

         (b)      Viceroy is the sole legal and beneficial owner of all of the
                  issued and outstanding shares of VMC.

         (c)      VMC is the sole legal and beneficial owner of all of the
                  issued and outstanding shares of HoldCo.

                                      -17-

<PAGE>

(15)              RESIDENCY

                  Each of VMC, HoldCo and Viceroy is a resident of Canada for
the purposes of the INCOME TAX ACT (Canada).

(16)              NO COMMISSION

                  None of Paredones, VMC or HoldCo has taken any action that
would result in a brokerage commission, finder's fee or other like payment being
payable by any party hereto with respect to the transactions contemplated
hereby.

(17)              APPROVALS

                  Except as disclosed in SCHEDULE "H" hereto or as otherwise
specified in this Agreement, to the knowledge of VMC and HoldCo no exemption,
consent, approval, order or authorization of any court, Governmental Authority
or any third party is required by, or with respect to, Paredones, VMC, HoldCo or
Viceroy in connection with the execution, delivery and performance of this
Agreement by VMC or HoldCo or the consummation by VMC or HoldCo of any of the
transactions contemplated hereby.

(18)              SECURITIES LAWS

         (a)      PURCHASE AS PRINCIPAL. Each of VMC and HoldCo is purchasing
                  the Vista Securities as principal for its own account, and not
                  for the benefit of any other person, for investment only and
                  not with a view to resale or distribution.

         (b)      NO ADVERTISEMENT. The offering and sale of the Vista
                  Securities to each of VMC and HoldCo were not made through an
                  advertisement of the Vista Securities in printed media of
                  general and regular paid circulation, radio or television or
                  any other form of advertisement, and, to its knowledge,
                  neither VMC nor HoldCo has received an offering memorandum as
                  such term is defined under the Securities Laws, and each of
                  VMC and HoldCo acknowledges that it is not purchasing the
                  Vista Securities as a result of any form of general
                  solicitation or general advertising including advertisements,
                  articles, notices or other communications published in any
                  newspaper, magazine or similar media or broadcast over radio,
                  or television, or any seminar or meeting whose attendees have
                  been invited by general solicitation or general advertising.

         (c)      NO INSIDER INFORMATION. The Vista Securities are not being
                  purchased by VMC or HoldCo as a result of any material
                  information concerning Vista that has not been publicly
                  disclosed and the decision of each of VMC and HoldCo to enter
                  into this agreement and acquire the Vista Securities has not
                  been made as a result of any verbal or written representation
                  as to fact or otherwise made by or on behalf of Vista or any
                  other person and is based entirely upon currently available
                  public information concerning Vista.

         (d)      FINANCIAL KNOWLEDGE; INVESTMENT SUITABILITY. Each of VMC and
                  HoldCo has such knowledge and experience in financial and
                  business affairs as to be capable of evaluating the merits and
                  risks of the investment hereunder in the Vista Securities and
                  is able to bear the economic risk of loss of such investment.

                                      -18-

<PAGE>

         (e)      ADDRESS OF EACH OF VMC AND HOLDCO. The office of each of VMC
                  and HoldCo at which each of VMC and HoldCo received and
                  accepted the offer to purchase the Vista Securities is the
                  address listed on the first page of this Agreement.

         (f)      "U.S. PERSON". Neither of VMC and HoldCo is a "U.S. Person" as
                  defined in Regulation S under the U.S. Securities Act and is
                  not acquiring the Vista Securities for the account or benefit
                  of any U.S. Person.

         (g)      NO U.S. REGISTRATION. Each of VMC and HoldCo understands that
                  the Vista Securities have not been registered under the U.S.
                  Securities Act and, accordingly, are "restricted securities"
                  as defined in Rule 905 of Regulation S by reference to Rule
                  144 under the U.S. Securities Act, and that the sale
                  contemplated hereby is being made in reliance on an exemption
                  from such registration requirement, and that the Vista
                  Securities may not be resold unless they are registered under
                  the U.S. Securities Act or unless an exemption from such
                  registration is available.

         (h)      NO "DIRECTED SELLING EFFORTS". Each of VMC and HoldCo
                  acknowledges that it has not purchased the Vista Securities as
                  a result of any "directed selling efforts" (as defined in
                  Regulation S under the U.S. Securities Act) in the United
                  States in respect of the Vista Securities which would include
                  any activities undertaken for the purpose of, or that could
                  reasonably be expected to have the effect of, conditioning the
                  market in the United States for the sale of the Vista
                  Securities.

         (i)      U.S. RESALE RESTRICTIONS. Each of VMC and HoldCo agrees that
                  if it decides to offer, sell or otherwise transfer any of the
                  Vista Securities, it shall not offer, sell or otherwise
                  transfer any of such Vista Securities directly or indirectly,
                  unless:

                  (i)      the sale is to Vista;

                  (ii)     the sale is made outside the United States in a
                           transaction meeting the requirements of Rule 904 of
                           Regulation S under the U.S. Securities Act and in
                           compliance with applicable local laws and regulations
                           and it has prior to such sale furnished to Vista
                           and/or its agents, as applicable, such seller and
                           broker declarations or other documents as Vista or
                           its agents may reasonably request in connection
                           therewith;

                  (iii)    the sale is made pursuant to the exemption from the
                           registration requirements under the U.S. Securities
                           Act provided by Rule 144 thereunder or otherwise and
                           in accordance with any applicable U.S. state
                           securities or ("Blue Sky") laws and it has prior to
                           such sale furnished to Vista an opinion to such
                           effect reasonably satisfactory to Vista; or

                  (iv)     the Vista Securities are subject to an effective
                           registration statement filed under the U.S.
                           Securities Act and subject to related compliance
                           under any applicable U.S.
                           state securities law.

         (j)      CANADIAN RESALE RESTRICTIONS. Each of VMC and HoldCo
                  acknowledges that if it decides to offer, sell or otherwise
                  transfer any of the Vista Securities in Canada, such
                  securities may be offered or sold or otherwise transferred
                  only:

                  (i)      pursuant to an exemption from the registration and
                           prospectus requirements under the Securities Laws or
                           the applicable securities legislation of the province

                                      -19-

<PAGE>

                           of Canada in which such trade is occurring, and with
                           the prior consent of the Toronto Stock Exchange; or

                  (ii)     as Vista is a "qualifying issuer" (as that term is
                           defined in Canadian Multilateral Instrument 45-102
                           RESALE OF SECURITIES), four months has elapsed from
                           the date of the issue of the Vista Securities, each
                           of VMC and HoldCo is not, and collectively, VMC and
                           HoldCo are not, a "control person" of Vista (as
                           defined in the SECURITIES ACT (British Columbia)), no
                           unusual effort is made to prepare the market or
                           create a demand for the Vista Securities, no
                           extraordinary commission or other consideration is
                           paid in respect of such offer, sale or transfer and
                           if VMC and HoldCo individually or collectively with
                           any affiliates is an "insider" of Vista (as defined
                           in the SECURITIES ACT (British Columbia), each of VMC
                           and HoldCo has no reasonable grounds to believe that
                           Vista is in default of any Securities Laws or the
                           applicable securities legislation of the province of
                           Canada in which such trade is occurring.

         (k)      LEGEND. Each of VMC and HoldCo acknowledges that all
                  certificates issued representing the Vista Shares and the
                  Vista Warrant Shares, as well as all certificates issued in
                  exchange for or in substitution therefor, shall bear legends
                  to the following effect:

                           "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
                           SUBJECT TO THE FOLLOWING HOLD PERIOD AND RESALE
                           RESTRICTIONS:

                           1.       CANADIAN LEGEND - UNLESS PERMITTED UNDER
                                    CANADIAN SECURITIES LEGISLATION, THE HOLDER
                                    OF THE SECURITIES REPRESENTED BY THIS
                                    CERTIFICATE SHALL NOT TRADE THE SECURITIES
                                    BEFORE DECEMBER 30, 2002.

                           2.       U.S. LEGEND - THE SECURITIES EVIDENCED BY
                                    THIS CERTIFICATE HAVE NOT BEEN REGISTERED
                                    UNDER THE UNITED STATES SECURITIES ACT OF
                                    1933, AS AMENDED (THE "1933 ACT"), OR ANY
                                    APPLICABLE UNITED STATES STATE SECURITIES
                                    LAW. NO INTEREST THEREIN MAY BE SOLD,
                                    DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED OR
                                    OTHERWISE TRANSFERRED OR DISPOSED OF WITHOUT
                                    (A) AN EFFECTIVE REGISTRATION STATEMENT
                                    UNDER THE 1933 ACT AND APPLICABLE UNITED
                                    STATES STATE SECURITIES LAWS COVERING ANY
                                    SUCH TRANSACTION OR (B) RECEIPT BY THE
                                    CORPORATION OF AN ACCEPTABLE LEGAL OPINION
                                    STATING THAT SUCH TRANSACTION IS EXEMPT FROM
                                    REGISTRATION, OR (C) THE CORPORATION
                                    OTHERWISE SATISFYING ITSELF THAT SUCH
                                    TRANSACTION IS EXEMPT FROM REGISTRATION.
                                    HEDGING TRANSACTIONS INVOLVING THE
                                    SECURITIES EVIDENCED BY THIS CERTIFICATE MAY
                                    NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH
                                    THE 1933 ACT."

                                      -20-

<PAGE>

                  In addition, each of VMC and HoldCo acknowledges that all
                  certificates issued representing the Vista Warrants shall bear
                  legends to the following effect:

                           "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
                           SUBJECT TO THE FOLLOWING HOLD PERIOD AND RESALE
                           RESTRICTIONS:

                           1.       CANADIAN LEGEND - UNLESS PERMITTED UNDER
                                    CANADIAN SECURITIES LEGISLATION, THE HOLDER
                                    OF THE SECURITIES REPRESENTED BY THIS
                                    CERTIFICATE SHALL NOT TRADE THE SECURITIES
                                    BEFORE DECEMBER 30, 2002.

                           2.       U.S. LEGEND - THESE WARRANTS AND THE
                                    SECURITIES TO BE ISSUED UPON EXERCISE
                                    THEREOF HAVE NOT BEEN REGISTERED UNDER THE
                                    UNITED STATES SECURITIES ACT OF 1933, AS
                                    AMENDED (THE "1933 ACT"), OR ANY APPLICABLE
                                    UNITED STATES STATE SECURITIES LAW. THESE
                                    WARRANTS MAY NOT BE EXERCISED BY OR ON
                                    BEHALF OF ANY U.S. PERSON UNLESS REGISTERED
                                    UNDER THE 1933 ACT AND IN COMPLIANCE WITH
                                    APPLICABLE UNITED STATES STATE SECURITIES
                                    LAW OR AN EXEMPTION FROM SUCH REGISTRATION
                                    IS AVAILABLE. "UNITED STATES" AND "U.S.
                                    PERSON" ARE AS DEFINED UNDER REGULATION S
                                    UNDER THE 1933 ACT."

         (l)      RECORD OF TRANSFER. Each of VMC and HoldCo understands and
                  acknowledges that Vista shall refuse to register any transfer
                  of the Vista Securities (i) that is not made in accordance
                  with the provisions of Regulation S under the U.S. Securities
                  Act, pursuant to registration under the U.S. Securities Act,
                  or pursuant to an available exemption from such registration
                  requirement, and in accordance with applicable provisions of
                  any U.S. state securities law, or (ii) that is not exempt from
                  or not subject to the registration and prospectus requirements
                  under the Securities Laws or the securities legislation of the
                  province of Canada in which such transfer is occurring.

         (m)      HEDGING. Each of VMC and HoldCo shall not conduct hedging
                  transactions involving the Vista Securities unless in
                  compliance with the U.S. Securities Act.

         (n)      EXERCISE OF VISTA WARRANTS. Each person exercising Vista
                  Warrants shall be required to give (i) written certification
                  that it is not a U.S. Person (as defined in Regulation S under
                  the U.S. Securities Act) and the Vista Warrants are not being
                  exercised on behalf of a U.S. Person, or (ii) a written
                  opinion of counsel to the effect that the Vista Warrants and
                  the Vista Warrant Shares delivered upon exercise of the Vista
                  Warrants have been registered under the U.S. Securities Act or
                  are exempt from registration thereunder.

3.2               REPRESENTATIONS AND WARRANTIES OF VICEROY

                  Viceroy represents and warrants to and in favour of Vista and
Granges as follows, and acknowledges that Vista and Granges are relying upon
such representations and warranties in addition to the due diligence and
investigations undertaken by Vista and Granges prior to the Closing as an

                                      -21-

<PAGE>

inducement to enter into this Agreement and to consummate the transactions
contemplated hereby, that as at the date hereof:

(1)               CORPORATE STATUS AND CAPACITY

         (a)      CORPORATE STATUS OF VICEROY. Viceroy is duly amalgamated and
                  validly exists under the laws of British Columbia and in good
                  standing under the COMPANY ACT (British Columbia).

         (b)      CORPORATE POWER AND CAPACITY OF VICEROY TO ENTER INTO AND
                  PERFORM AGREEMENT. Viceroy has the corporate power and
                  capacity to enter into this Agreement, to consummate all
                  transactions contemplated herein and to perform its
                  obligations hereunder.

         (c)      NO BANKRUPTCY PROCEEDINGS. No proceedings have been taken or
                  authorized by Viceroy, to the best of the knowledge of
                  Viceroy, by any other person, with respect to the bankruptcy,
                  insolvency, liquidation, dissolution, or winding-up of
                  Viceroy.

(2)               NO DEFAULT

                  The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby, or the fulfilment of or compliance with
the terms and provisions hereof do not and shall not, and do not create a state
of facts which after notice or lapse of time or both shall:

         (a)      result in a breach of or violate any term or provision of the
                  Constating Documents of Viceroy;

         (b)      conflict with, result in the breach of, constitute a default
                  under, or accelerate or permit the acceleration of the
                  obligations of Viceroy under, any contract to which Viceroy is
                  a party;

         (c)      subject to compliance with disclosure requirements under
                  applicable securities legislation and the rules, by-laws and
                  policies of any stock exchange having jurisdiction, conflict
                  with, breach, or violate any of the terms, conditions or
                  provisions of any Law, or any judgment, order, injunction,
                  decree, regulation or ruling of any court or stock exchange
                  having jurisdiction.

(3)               BINDING AGREEMENT

                  This Agreement has been duly executed and delivered by Viceroy
and constitutes a legal, valid and binding obligation of Viceroy.

(4)               OWNERSHIP OF VMC AND HOLDCO

         (a)      Viceroy is the sole legal and beneficial owner of all of the
                  issued and outstanding shares of VMC and accordingly VMC is a
                  direct wholly-owned subsidiary of Viceroy.

         (b)      VMC is the sole legal and beneficial owner of all of the
                  issued and outstanding shares of HoldCo and accordingly HoldCo
                  is an indirect wholly-owned subsidiary of Viceroy.

                                      -22-

<PAGE>

(5)               NO COMMISSION

                  Viceroy has not taken any action that would result in a
brokerage commission, finder's fee or other like payment being payable by any
party hereto with respect to the transactions contemplated hereby.

(6)               APPROVALS

                  Except as disclosed in SCHEDULE "H" hereto, no exemption,
consent, approval, order or authorization of any court, Governmental Authority
or any third party is required by, or with respect to, Viceroy in connection
with the execution, delivery and performance of this Agreement by Viceroy or the
consummation by Viceroy of any of the transactions contemplated hereby.

3.3               REPRESENTATIONS AND WARRANTIES OF VISTA AND GRANGES

                  Vista and Granges represent and warrant to and in favour of
VMC, HoldCo and Viceroy as follows and acknowledge that VMC, HoldCo and Viceroy
are relying upon such representations and warranties as an inducement to enter
into this Agreement and to consummate the transactions contemplated hereby, that
as at the date hereof:

(1)               CORPORATE STATUS AND CAPACITY

         (a)      CORPORATE STATUS OF GRANGES. Granges is a company that is duly
                  incorporated and validly existing under the laws of British
                  Columbia and in good standing under the COMPANY ACT (British
                  Columbia).

         (b)      CORPORATE STATUS OF VISTA. Vista is a corporation that is duly
                  continued and validly existing under the laws of the Yukon
                  Territory and in good standing under the BUSINESS CORPORATIONS
                  ACT (Yukon Territory).

         (c)      CORPORATE POWER AND CAPACITY OF GRANGES. Granges has the
                  corporate power and capacity to enter into this Agreement, to
                  perform its obligations hereunder and to acquire legal and
                  beneficial title to and ownership of the Purchased Shares from
                  VMC and HoldCo on the terms and conditions hereof.

         (d)      CORPORATE POWER AND CAPACITY OF VISTA. Vista has the corporate
                  power and capacity to enter into this Agreement, to perform
                  its obligations hereunder and to acquire legal and beneficial
                  title to and ownership of the Purchased Shares from VMC and
                  HoldCo on the terms and conditions hereof.

         (e)      NO BANKRUPTCY PROCEEDINGS. No proceedings have been taken or
                  authorized by Granges or Vista or, to the best of the
                  knowledge of Granges or Vista, by any other person, with
                  respect to the bankruptcy, insolvency, liquidation,
                  dissolution, or winding-up of Granges or Vista.

(2)               NO DEFAULT

                  The execution and delivery of this Agreement, the fulfilment
of or compliance with the terms and provisions hereof and the issue, sale and
delivery on the Closing Date of the Vista Securities, do not and shall not
result in a breach of and do not create a state of facts which, after notice or
lapse of time, or both, shall result in a breach of, and do not and shall not
conflict with, any of the terms, conditions or provisions of the Constating
Documents of Granges or Vista or any trust indenture,

                                      -23-

<PAGE>

agreement or instrument to which Granges or Vista is a party or by which Granges
or Vista is contractually bound or will be contractually bound on the Closing
Date.

(3)               BINDING AGREEMENT

                  This Agreement has been duly executed and delivered by Vista
and Granges and constitutes a legal, valid and binding obligation of the
Purchaser and Vista.

(4)               SHARE CAPITAL

         (a)      SHARE CAPITAL. The authorized share capital of Vista consists
                  of an unlimited number of common shares without par value and
                  an unlimited number of preferred shares, of which 6,067,868
                  common shares are issued and outstanding on the date hereof as
                  fully paid and non-assessable shares.

         (b)      NO OPTIONS. No person has any option, warrant, right, call,
                  commitment, conversion right, right of exchange or other
                  agreement, present or future, contingent or absolute, or any
                  right or privilege (whether by law, pre-emptive or
                  contractual) capable of becoming an option, warrant, right,
                  call, commitment, conversion right, right of exchange or other
                  agreement for the purchase, subscription, allotment or
                  issuance of any of the unissued common shares, financial
                  instruments convertible into common shares or other securities
                  of Vista except as disclosed in the Form 1: CHANGE IN
                  OUTSTANDING AND RESERVED SECURITIES filed with the Toronto
                  Stock Exchange for the month of July 2002.

(5)               LISTING OF COMMON SHARES

                  The common shares in the capital of Vista are listed and
posted for trading on the Stock Exchanges.

(6)               REPORTING ISSUER STATUS

                  Vista is a "reporting issuer" under the SECURITIES ACT
(British Columbia) and the SECURITIES Act (Ontario), and is in compliance with
its obligations thereunder.

(7)               QUALIFYING ISSUER STATUS

                  Vista is a "qualifying issuer" as that term is defined in
Canadian Multilateral Instrument 45-102 RESALE OF SECURITIES.

(8)               NO COMMISSION

                  Neither Granges nor Vista has taken any action that would
result in a brokerage commission, finder's fee or other like payment being
payable by any party hereto with respect to the transactions contemplated
hereby.

(9)               DISCLOSURE DOCUMENTS

                  The following disclosure documents of Vista:

         (a)      the Annual Report for the year ended December 31, 2001,
                  including the audited financial statements for such year,
                  filed on Form 10-KSB with the SEC;

                                      -24-

<PAGE>

         (b)      the Quarterly Report for the three months ended March 31,
                  2002, including the unaudited financial statements for such
                  three-month period, filed on Form 10-QSB with the SEC;

         (c)      the Quarterly Report for the six months ended June 30, 2002,
                  including the unaudited financial statements for such
                  six-month period, filed on Form 10-QSB with the SEC;

         (d)      the Notice of Meeting and Management Information and Proxy
                  Circular for the 2002 Annual and Special General Meeting filed
                  on Schedule 14A with the SEC; and

         (e)      each report on Form 8-K filed with the SEC after March 31,
                  2002,

were, at their respective dates of issue or publication true and correct in all
material respects, contained no misrepresentations and were prepared in
accordance with and complied with Securities Laws and U.S. Securities Laws.

(10)              MATERIAL CHANGES

                  Except as contemplated by this Agreement and as publicly
disclosed by Vista, Vista has not:

         (a)      experienced any adverse material change in the business,
                  operations, assets, liabilities, ownership, capital or
                  financial position or condition of Vista, or any change in a
                  material fact that has a significant adverse effect on, or
                  would reasonably be expected to have a significant adverse
                  effect on, the business, operations, assets, liabilities,
                  ownership, capital or financial position or condition of
                  Vista;

         (b)      transferred, assigned, sold or otherwise disposed of any
                  material part of Vista's assets or business, except in the
                  normal course of business;

         (c)      incurred or assumed any material Liability, except unsecured
                  current obligations and liabilities incurred in the ordinary
                  and usual course of business;

         (d)      suffered an extraordinary loss (before interest or taxes),
                  waived, surrendered or omitted to take any action in respect
                  of any rights of substantial value or entered into any
                  commitment or transaction not in the normal course of
                  business, where such loss, rights, commitment or transaction
                  is or would be material in relation to the assets or the
                  business of Vista;

         (e)      declared or paid any dividend or declared or made any other
                  distribution on any of the issued shares of Vista or redeemed,
                  purchased or otherwise acquired any of the issued shares or
                  Vista; or

         (f)      authorized, agreed or otherwise become committed to do any of
                  the foregoing.

(11)              LEGAL AND REGULATORY MATTERS

         (a)      COMPLIANCE WITH LAWS. The operation of the business of Vista
                  is conducted in compliance in all material respects with all
                  applicable Laws of each jurisdiction in which such business
                  has been and is carried out and Vista has not received any
                  notice of any alleged material breach or violation of any such
                  Laws.

         (b)      LICENSES, REGISTRATIONS AND PERMITS. Each of Vista and Granges
                  is duly qualified to carry on, and holds all licenses,
                  registrations and permits as may be required for carrying

                                      -25-

<PAGE>

                  on, its business in all jurisdictions in which the nature of
                  its business or assets make such qualification, licenses,
                  registrations and permits necessary.

(12)              APPROVALS

                  Except as disclosed in SCHEDULE "H" hereto, no exemption,
consent, approval, order or authorization of any court, Governmental Authority
or any third party is required by, or with respect to, Vista or Granges in
connection with the execution, delivery and performance of this Agreement by
Vista or Granges or the consummation by Vista or Granges or any of the
transactions contemplated hereby.

                                    ARTICLE 4

                                    COVENANTS

4.1               COVENANTS OF VMC, HOLDCO AND VICEROY

(1)               AGREEMENT DATE TO CLOSING

                  Each of VMC, HoldCo and Viceroy covenants and agrees with
Vista and Granges that, from the date of this Agreement to the Closing, it
shall:

         (a)      ACCESS. Provide Granges, Vista and their representatives with
                  continued access at reasonable times to the books, records,
                  financial statements, and other records and information
                  relating to Paredones, including the Assets, the Business, the
                  Purchased Shares and VMC's and HoldCo's ownership interest
                  therein, and all other information about the Assets, the
                  Business, the Purchased Shares and VMC's and HoldCo's
                  ownership interest therein requested by Vista, in connection
                  with the sale and purchase of the Purchased Shares;

         (b)      CONDUCT BUSINESS IN THE ORDINARY COURSE. Except as otherwise
                  provided in this Agreement, carry on and conduct the Business
                  in the ordinary course, consistent with past practice and use
                  its commercially reasonable efforts to preserve intact the
                  Assets;

         (c)      NO ENCUMBRANCES ON ASSETS. Refrain from creating or permitting
                  any Encumbrance, other than Permitted Encumbrances, on the
                  Assets in whole or in part and from selling, transferring or
                  otherwise disposing of the Assets;

         (d)      NO ENCUMBRANCE ON PURCHASED SHARES. Refrain from creating or
                  permitting any Encumbrance, other than Permitted Encumbrances,
                  on the Purchased Shares;

         (e)      NO DIVIDENDS. Refrain from declaring any dividends or making
                  any other distributions in respect of capital stock of
                  Paredones;

         (f)      NO CHANGE TO MATERIAL CONTRACTS. Refrain from amending or
                  varying any of the Material Contracts or enter into any other
                  Material Contract;

         (g)      MAINTAIN INSURANCE. Cause Paredones to maintain in full force
                  and effect its policy of insurance now in effect in respect of
                  one motor vehicle, and shall give all notices and present all
                  claims under such existing policy in a due and timely fashion
                  as may be reasonably required in accordance with prudent
                  business practice;

         (h)      RESTRICTIONS ON LOANS. Ensure that Paredones does not incur
                  any borrowings;

                                      -26-

<PAGE>

         (i)      RESTRICTIONS ON CERTAIN COMMITMENTS. Not, without Vista's
                  prior written consent or unless required by law or required to
                  repair or replace any loss or damage to the Assets arising
                  subsequent to the execution of this Agreement, commence any
                  new capital projects or make any capital or exploration
                  expenditures and that Paredones does not incur any contingent
                  liability;

         (j)      NO AMENDMENT TO CHARTER DOCUMENTS. Except as otherwise
                  provided in this Agreement, not amend Paredones' Constating
                  Documents or change in any manner Paredones' authorized
                  capital or the rights, privileges, restrictions and conditions
                  attaching to any of Paredones' share capital;

         (k)      NO APPOINTMENTS OF NEW DIRECTORS OR OFFICERS. Ensure that
                  Paredones does not appoint any new directors or officers;

         (l)      MAINTAIN REGISTRATIONS. Use its best efforts to maintain all
                  of Paredones' registrations, licenses and permits, and the
                  registrations, licences and permits of Paredones' directors,
                  and any officers and employees, in good standing with such
                  Governmental Authorities as are necessary to permit Paredones
                  and its directors, officers and employees to carry on the
                  Business as presently carried on;

         (m)      COMPLIANCE WITH LAWS. Comply in all material respects with all
                  Laws applicable to it and to the conduct of the Business;

         (n)      OBTAIN CONSENTS. Use its best efforts to obtain, and where
                  required for the operation of the Business, to transfer to
                  Vista and Granges, all necessary Governmental Authorizations,
                  and all necessary releases, waivers, consents and approvals as
                  may be required to complete VMC's, HoldCo's and Viceroy's
                  obligations under this Agreement and to consummate the
                  transactions contemplated by this Agreement, and all such
                  releases, waivers, consents and approvals shall be in form and
                  substance satisfactory to Vista, acting reasonably;

         (o)      MAINTENANCE OF BOOKS AND RECORDS. Maintain Paredones' books of
                  account and records in the usual, regular and ordinary manner,
                  in accordance with generally accepted accounting principles
                  applied in Mexico on a consistent basis; and

         (p)      NOTICE OF MATERIAL DEVELOPMENTS. Notify Vista and Granges as
                  soon as any of its directors or officers have determined that
                  a state of facts exist which results in, or shall result in:

                  (i)      any representation and warranty of VMC, HoldCo or
                           Viceroy being untrue or incorrect in any material
                           respects;

                  (ii)     the non-fulfilment of any conditions set forth in
                           this Agreement; or

                  (iii)    any adverse material change in the business,
                           operations, assets, liabilities, ownership, capital
                           or financial position or condition of Paredones, or
                           change in a material fact that has a significant
                           adverse affect on, or would reasonably be expected to
                           have a significant adverse affect on, the Business,
                           operations, Assets, liabilities, ownership, capital
                           or financial position or condition of Paredones.

                  VMC, HoldCo and Viceroy acknowledge that Vista and Granges are
relying upon the foregoing covenants and agreements in addition to the due
diligence and investigations of Vista and

                                      -27-

<PAGE>

Granges as an inducement to enter into this Agreement and to consummate the
transactions contemplated by this Agreement.

(2)               AT CLOSING

                  In addition to the foregoing, each of VMC, HoldCo and Viceroy
covenants and agrees with Vista and Granges that it shall ensure that
immediately prior to the Closing:

         (a)      REPRESENTATIONS AND WARRANTIES. The representations and
                  warranties of VMC, HoldCo and Viceroy shall be true and
                  correct in all material respects;

         (b)      EXECUTION AND DELIVERY RATIFIED AND AUTHORIZED. The execution
                  and delivery of this Agreement and the performance by each of
                  VMC, HoldCo and Viceroy of its respective obligations under
                  this Agreement shall be duly and validly ratified and
                  authorized by the Board of Directors of VMC, HoldCo and
                  Viceroy, as the case may be; and

         (c)      DUE EXECUTION. This Agreement shall be duly executed and
                  delivered by VMC, HoldCo and Viceroy and constitute a valid
                  and binding obligation of VMC, HoldCo and Viceroy enforceable
                  against VMC, HoldCo and Viceroy.

                  VMC, HoldCo and Viceroy acknowledge that Vista and Granges are
relying upon the foregoing covenants and agreements as an inducement to enter
into this Agreement and to consummate the transactions contemplated by this
Agreement.

(3)               POST-CLOSING

                  In addition to the foregoing, each of Viceroy, VMC and HoldCo
agrees and covenants with Vista and Granges that as soon as practicable after
the Closing Date and in any event no later than three months from the Closing
Date, it shall cause:

         (a)      the filing with the applicable Mexican Governmental
                  Authorities of any required instrument or document in order to
                  register in the name of Paredones such mining concessions
                  comprising the Mineral Rights which have not been registered
                  in the name of Paredones as of the Closing Date;

         (b)      the valid execution or endorsement of all deeds, bills of
                  sale, transfers and assignments, including any required
                  consents and approvals listed in SCHEDULE "H", in form and
                  substance acceptable to Vista, as Vista may reasonably require
                  and as are necessary to effectively transfer and convey title
                  to any Assets which, have not been formally transferred or
                  conveyed to Paredones as of the Closing Date, including,
                  without limitation, the Lands described in the agreements
                  listed as items 2 to 7 of SCHEDULE "B", the Surface Rights
                  Agreements described in items 14 and 15 of part B of SCHEDULE
                  "C" and the water concession described in item 1 of part B of
                  SCHEDULE "D";

         (c)      the delivery to such location or locations as instructed by
                  Vista in writing of any Assets which are not in the possession
                  or control of Paredones as of the Closing Date including, but
                  not limited to, the Technical Data located in Viceroy's
                  offices in Vancouver, British Columbia; and

         (d)      the cancellation of the registration at the Public Registry of
                  Mining of the Contract of Acquisition and Development of
                  mining rights entered into with respect to the mining
                  concessions San Antonio, La Rica, Tocopilla, Julia, Maile and
                  La Dificultad.

                                      -28-

<PAGE>

                  VMC, HoldCo and Viceroy acknowledge that Vista and Granges are
relying upon the foregoing covenants and agreements as an inducement to enter
into this Agreement and to consummate the transactions contemplated by this
Agreement.

4.2               COVENANTS OF VISTA AND GRANGES

(1)               GENERAL

                  Each of Vista and Granges covenants and agrees with VMC,
HoldCo and Viceroy as follows:

         (a)      CONSENT OF STOCK EXCHANGES. Vista shall use its best efforts
                  to obtain the consent of the Stock Exchanges and comply with
                  all other regulatory requirements, requirements of the Stock
                  Exchanges and requirements of the Securities Laws and U.S.
                  Securities Laws applicable to the offering and sale of Vista
                  Securities, to Viceroy on a "private placement" basis as
                  contemplated by this Agreement prior to the Closing Date; and

         (b)      LISTING OF SHARES. Vista shall use its best efforts to ensure
                  that the Vista Shares and Vista Warrant Shares shall be listed
                  and posted for trading on the Stock Exchanges.

                  Vista and Granges acknowledge that VMC, HoldCo and Viceroy are
relying upon the foregoing covenants and agreements as an inducement to enter
into this Agreement and to consummate the transactions contemplated by this
Agreement.

(2)               AT CLOSING

                  In addition to the foregoing, each of Vista and Granges
covenants and agrees with VMC, HoldCo and Viceroy that immediately prior to the
Closing:

         (a)      REPRESENTATIONS AND WARRANTIES. The representations and
                  warranties of Vista and Granges shall be true and correct in
                  all material respects;

         (b)      EXECUTION AND DELIVERY RATIFIED AND AUTHORIZED. The execution
                  and delivery of this Agreement and the performance by each of
                  Vista and Granges of its respective obligations under this
                  Agreement shall be duly and validly ratified and authorized by
                  the Board of Directors of Vista and Granges, as the case may
                  be; and

         (c)      DUE EXECUTION. This Agreement shall be duly executed and
                  delivered by Vista and Granges and constitute a valid and
                  binding obligation of Vista and Granges, enforceable against
                  Vista and Granges.

                  Vista and Granges acknowledge that VMC, HoldCo and Viceroy are
relying upon the foregoing covenants and agreements as an inducement to enter
into this Agreement and to consummate the transactions contemplated by this
Agreement.

(3)               POST-CLOSING

                  In addition to the foregoing, Vista covenants and agrees with
VMC, HoldCo and Viceroy as follows:

         (a)      REGISTRATION STATEMENT. Vista shall include the Vista Shares
                  and the Vista Warrant Shares in the next registration
                  statement filed with the SEC and in any event, shall use
                  commercially reasonable efforts to prepare and file a
                  registration statement with the SEC

                                      -29-

<PAGE>

                  with respect to the Vista Shares and the Vista Warrant Shares
                  within six months of the Closing Date.

         (b)      PAYMENT OF IVA TAXES. As soon as is reasonably practicable
                  after the Closing Date, Vista shall cause Paredones to apply
                  to the appropriate Mexican Governmental Authorities for a
                  refund of the valued added tax ("IVA") recoverable and
                  generated by virtue of the activities carried on by Paredones
                  prior to Closing. Vista shall pay to, or as directed by, VMC
                  or HoldCo an amount equal to the amount of any such IVA
                  refunded to Paredones less any reasonable costs or expenses
                  that Vista or Paredones have incurred in connection therewith.
                  Notwithstanding the foregoing, VMC, HoldCo and Viceroy
                  acknowledge and agree that neither Vista nor Paredones shall
                  be liable if, for any reason, such IVA refund is rejected or
                  denied by Mexican Governmental Authorities.

                  Vista acknowledges that VMC, HoldCo and Viceroy are relying
upon the foregoing covenants and agreements as an inducement to enter into this
Agreement and to consummate the transactions contemplated by this Agreement.

                                    ARTICLE 5

                              CONDITIONS PRECEDENT

5.1               MUTUAL CONDITIONS PRECEDENT

                  The obligations of the parties to complete the sale of the
Purchased Shares and the transactions contemplated by this Agreement are subject
to the following conditions being satisfied on or before the Closing, which
conditions are for the mutual benefit of all parties to this Agreement and may
be waived in whole or in part only if jointly waived by all of the parties to
this Agreement:

         (a)      all material approvals, authorizations or consents, including
                  approvals by Governmental Authorities, regulatory authorities,
                  third parties and judicial approvals and orders legally
                  required for the consummation of the Agreement and the
                  transactions contemplated by this Agreement, shall have been
                  obtained or received from the persons, authorities or bodies
                  having jurisdiction in the circumstances; and

         (b)      none of the approvals, authorizations, consents, orders, laws
                  or regulations contemplated in this Section 5.1 shall have
                  contained terms or conditions or require undertakings or
                  security deemed unsatisfactory or unacceptable by any of the
                  parties hereto acting reasonably.

5.2               CONDITIONS FOR THE BENEFIT OF VMC, HOLDCO AND VICEROY

                  The obligation of VMC, HoldCo and Viceroy to complete the sale
of the Purchased Shares and the transactions contemplated by this Agreement is
subject to the satisfaction on or before the Closing, for the exclusive benefit
of VMC, HoldCo and Viceroy, of each of the following conditions:

         (a)      the representations and warranties of Vista and Granges shall
                  be true and correct in all material respects as at the Closing
                  with the same force and effect as if such representations and
                  warranties had been made at and as of the Closing;

         (b)      Vista and Granges shall have, in all material respects,
                  performed and complied with all covenants and agreements
                  contained in this Agreement to be performed or complied

                                      -30-

<PAGE>

                  with, or caused to be performed or complied with, by Vista and
                  Granges at or prior to the Closing;

         (c)      Vista shall have delivered to VMC and HoldCo at the Closing:

                  (i)      a certified cheque representing the sum of
                           $1,000,000;

                  (ii)     a share certificate representing 303,030 Vista
                           Shares;

                  (iii)    a Warrant Certificate representing 303,030 Vista
                           Warrants;

                  (iv)     certified copies of resolutions of the directors of
                           Vista and Granges approving this Agreement and all
                           other transactions contemplated by this Agreement;

                  (v)      a wire transfer representing the sum of US$45,962.73
                           for mining duties corresponding to the second
                           semester of 2002 paid by Viceroy, VMC or HoldCo with
                           respect to the Mineral Rights; and

                  (vi)     such other documentation and assurances as may be
                           reasonably required by VMC, HoldCo, or Viceroy, or
                           their counsel;

         (d)      each of Vista and Granges shall have delivered to VMC, HoldCo
                  and Viceroy a certificate, dated as of the Closing, and signed
                  by any two of its officers certifying that:

                  (i)      the representations and warranties of Vista and
                           Granges herein contained are true and correct at the
                           Closing;

                  (ii)     each of Vista and Granges has performed and complied
                           with all covenants and agreements contained in this
                           Agreement to be performed or complied with by Vista
                           and Granges at or prior to the Closing; and

                  (iii)    all necessary corporate action has been taken by
                           Vista and Granges to authorize the execution and
                           delivery of this Agreement and to consummate the
                           transactions contemplated by this Agreement; and

         (e)      counsel to Vista and Granges shall have delivered to VMC,
                  HoldCo and Viceroy favourable legal opinions, dated as of the
                  Closing Date, in form and content to the reasonable
                  satisfaction of VMC, HoldCo and Viceroy and with respect to
                  all such matters as VMC, HoldCo and Viceroy may reasonably
                  request including, without limitation, the following:

                  (i)      each of Vista and Granges is duly organized and is a
                           validly existing company, is in good standing under
                           applicable laws with respect to the filing of annual
                           returns, and is duly qualified to carry on business
                           and own property under the laws of their respective
                           jurisdiction of organization;

                  (ii)     this Agreement has been duly authorized by all
                           necessary corporate action on the part of Vista and
                           Granges, has been duly executed and delivered by and
                           on behalf of Vista and Granges, and is valid and
                           legally binding upon Vista and Granges;

                  (iii)    all necessary steps, authorizations and approvals
                           have been taken or obtained by Vista and Granges to
                           authorize the execution and delivery by Vista and
                           Granges of the Agreement and the performance of their
                           respective obligations thereunder;

                                      -31-

<PAGE>

                  (iv)     the authorized and issued share capital of Vista;

                  (v)      the Vista Shares have been duly and validly allotted
                           and issued as fully-paid and non-assessable common
                           shares in the capital of Vista;

                  (vi)     the Warrant Shares issuable upon the exercise of the
                           Vista Warrants have been duly and validly allotted
                           for issuance and will, upon due exercise of the Vista
                           Warrants in accordance with the terms of the Warrant
                           Certificate and receipt by Vista of payment therefor,
                           be validly issued as fully paid and non-assessable
                           common shares in the capital of Vista.

                  (vii)    the Vista Warrants have been duly and validly
                           created;

                  (viii)   the Vista Shares and the Vista Warrant Shares have
                           been conditionally approved for listing on the Stock
                           Exchanges, subject to the filing of the required
                           documents within the time stipulated by the Stock
                           Exchanges;

                  (ix)     Vista is a "reporting issuer" not in default under
                           the SECURITIES ACT (British Columbia);

                  (x)      Vista is a "qualifying issuer" as that term is
                           defined in Canadian Multilateral Instrument 45-102
                           RESALE OF SECURITIES;

                  (xi)     no prospectus is required and, except as have been
                           obtained or completed, no approval or consent of or
                           filing with any governmental authority in British
                           Columbia or the Stock Exchanges is required in order
                           to qualify the issuance and sale by Vista of the
                           Vista Securities except for the filing within 10 days
                           of the Closing Date of reports in prescribed form
                           prepared and executed in accordance with the
                           Securities Laws and except as may be required by the
                           Stock Exchanges in connection with the sale of the
                           Vista Securities; and

                  (xii)    the hold periods and resale restrictions applicable
                           to the Vista Securities under the Securities Laws and
                           the U.S. Securities Laws,

                  it being understood that counsel may rely as to matters of
                  fact, to the extent appropriate in the circumstances, on
                  certificates of Vista and Granges executed on behalf of Vista
                  and Granges by a senior officer of Vista and Granges, as the
                  case may be.

The foregoing conditions are inserted for the exclusive benefit of VMC, HoldCo
and Viceroy and may be waived in whole or in part by VMC, HoldCo or Viceroy at
any time.

5.3               CONDITIONS FOR THE BENEFIT OF VISTA AND GRANGES

                  The obligation of Vista and Granges to complete the purchase
of the Purchased Shares and the transactions contemplated by this Agreement is
subject to the satisfaction on or before the Closing, for the exclusive benefit
of Vista and Granges, of each of the following conditions:

         (a)      the representations and warranties of VMC, HoldCo and Viceroy
                  herein shall be true and correct in all material respects as
                  at the Closing with the same force and effect as if such
                  representations and warranties had been made at and as of the
                  Closing;

         (b)      VMC, HoldCo and Viceroy shall have, in all material respects,
                  performed and complied with all covenants and agreements
                  contained in this Agreement to be performed or

                                      -32-

<PAGE>

                  complied with, or caused to be performed or complied with, by
                  VMC, HoldCo or Viceroy at or prior to the Closing;

         (c)      as of the date of this Agreement, there shall not have been
                  any adverse material change in the business, operations,
                  assets, liabilities, ownership, capital or financial position
                  or condition of Paredones, or change in a material fact that
                  has a significant adverse affect on, or would reasonably be
                  expected to have a significant adverse effect on the Business,
                  operations, Assets, liabilities, ownership, capital, or
                  financial position or condition of Paredones;

         (d)      as of the date of this Agreement by Vista, there are no
                  outstanding options, warrants or other rights to acquire
                  shares of Paredones or any material change in compensation or
                  benefits arrangements with any director, officer or employee
                  of Paredones;

         (e)      as of the date of this Agreement there shall exist no actions,
                  suits, judgements, litigation, investigations or proceedings
                  outstanding, pending or threatened in writing against or
                  affecting Paredones, VMC, HoldCo or Viceroy in connection with
                  the transactions contemplated hereby;

         (f)      the receipt by Vista and Granges of confirmation satisfactory
                  to Vista and Granges that the purchase of the Purchased Shares
                  and the transactions contemplated by this Agreement have been
                  approved by the required majority of the shareholders of VMC,
                  HoldCo and Viceroy or that such approvals are not required;

         (g)      VMC, HoldCo and Viceroy shall have delivered to Vista and
                  Granges at the Closing:

                  (i)      resignations in writing of all directors and officers
                           of Paredones;

                  (ii)     duly executed share certificates registered on the
                           books of Paredones representing 103,913,985 Purchased
                           Shares registered in the name of Vista and one
                           Purchased Share registered in the name of Granges;

                  (iii)    certified copies of resolutions of the directors of
                           VMC, HoldCo and Viceroy approving the transfer of the
                           Purchased Shares to Vista and Granges all other
                           transactions contemplated by this Agreement;

                  (iv)     minutes of the shareholders' meeting of Paredones
                           approving the transfer of the Purchased Shares to
                           Vista and Granges;

                  (v)      confirmation, in a form satisfactory to Vista, that
                           the execution and performance of this Agreement by
                           VMC, HoldCo and Viceroy has been approved by the
                           required majority of the shareholders of VMC, HoldCo
                           and Viceroy or that such approval is not required;

                  (vi)     all corporate records of Paredones, including the
                           updated minutes books of Paredones;

                  (vii)    all Assets in the possession of Viceroy, VMC and
                           HoldCo and not otherwise in the possession or control
                           of Paredones, including the Technical Data located in
                           Viceroy's offices in Vancouver, British Columbia;

                  (viii)   a general or special power of attorney, whereby VMC
                           appoints a resident in Mexico as its representative
                           for Mexican tax purposes;

                                      -33-

<PAGE>

                  (ix)     a general or special power of attorney, whereby
                           HoldCo appoints a resident in Mexico as its
                           representative for Mexican tax purposes; and

                  (x)      such other documentation and assurances reasonably
                           required by Vista or its counsel;

         (h)      each of VMC, HoldCo and Viceroy shall have delivered to Vista
                  and Granges a certificate, dated as of the Closing, and signed
                  by any two of its officers acceptable to Vista certifying
                  that:

                  (i)      the representations and warranties of VMC, HoldCo and
                           Viceroy herein contained are true and correct at the
                           Closing;

                  (ii)     each of VMC, HoldCo and Viceroy has performed and
                           complied with all covenants and agreements contained
                           in this Agreement to be performed or complied with by
                           VMC, HoldCo and Viceroy at or prior to the Closing;

                  (iii)    all necessary corporate action has been taken by VMC,
                           HoldCo and Viceroy to authorize the execution and
                           delivery of this Agreement and to consummate the
                           transactions contemplated by this Agreement;

                  (iv)     as of the date of this Agreement, there shall not
                           have been any adverse material change in the
                           business, operations, assets, liabilities, ownership,
                           capital or financial position or condition of VMC,
                           HoldCo or Paredones, or change in a material fact
                           that has a significant adverse affect on, or would
                           reasonably be expected to have a significant adverse
                           effect on the Business, operations, Assets,
                           liabilities, ownership, capital, or financial
                           position or condition of Paredones;

                  (v)      as of the date of this Agreement by Vista, there are
                           no outstanding options, warrants or other rights to
                           acquire shares of Paredones or any material change in
                           compensation or benefits arrangements with any
                           director, officer, attorneys or employee of
                           Paredones;

                  (vi)     as of the date of this Agreement there shall not have
                           existed any actions, suits, judgements, litigation,
                           investigations or proceedings outstanding, pending or
                           threatened in writing against or affecting the VMC,
                           HoldCo, Paredones or Viceroy in connection with the
                           transactions contemplated hereby; and

         (i)      counsel to VMC, HoldCo Viceroy and Paredones shall have
                  delivered to Vista and Granges favourable legal opinions,
                  dated the Closing, in form and content to the reasonable
                  satisfaction of Vista and Granges and with respect to all such
                  matters as Vista and Granges may reasonably request including,
                  without limitation, the following:

                  (i)      each of VMC, HoldCo and Viceroy is duly organized and
                           is a validly existing company, is in good standing
                           under applicable laws with respect to the filing of
                           annual returns, and is duly qualified to carry on
                           business and own property under the laws of the
                           Province of British Columbia;

                  (ii)     Paredones has all necessary corporate power and
                           capacity to own the Assets and to carry on its
                           Business as now conducted;

                                      -34-

<PAGE>

                  (iii)    this Agreement has been duly authorized by all
                           necessary corporate action on the part of VMC, HoldCo
                           and Viceroy, has been duly executed and delivered by
                           and on behalf of VMC, HoldCo and Viceroy, and is
                           valid and legally binding upon VMC, HoldCo and
                           Viceroy;

                  (iv)     all necessary steps, authorizations and approvals
                           have been taken or obtained by VMC, HoldCo and
                           Viceroy to authorize the execution and delivery by
                           VMC, HoldCo and Viceroy of the Agreement and the
                           performance of their respective obligations
                           thereunder;

                  (v)      so far as counsel is aware, none of the execution and
                           delivery of this Agreement, nor the fulfilment of its
                           terms, conflicts or shall conflict with or results or
                           shall result in a breach of any of the terms,
                           conditions or provisions of the Constating Documents
                           of either VMC, HoldCo, Paredones or Viceroy,
                           resolutions of the shareholders and directors of VMC,
                           HoldCo, Paredones or Viceroy, any applicable laws,
                           or, so far as counsel is aware, any material license
                           or permit issued to VMC, HoldCo, Paredones or Viceroy
                           or any material agreement or instrument to which VMC,
                           HoldCo, Paredones or Viceroy is a party;

                  (vi)     so far as counsel is aware, there is no threatened,
                           pending or actual litigation affecting or involving
                           Paredones;

                  (vii)    the authorized share capital of Paredones;

                  (viii)   the certificates representing the Purchased Shares
                           have been duly endorsed in favour of Vista and
                           Granges;

                  (ix)     according to the register of shareholders of
                           Paredones, VMC and HoldCo are the legal holders of
                           all of the issued and outstanding shares of
                           Paredones;

                  (x)      according to the register of shareholders of VMC and
                           HoldCo, Viceroy is the legal holder of all of the
                           issued and outstanding shares of VMC and VMC is the
                           legal holder of all of the issued and outstanding
                           shares of HoldCo;

                  (xi)     all necessary steps, authorizations and approvals
                           have been taken or obtained by Paredones, VMC, HoldCo
                           and Viceroy to authorize the due and valid transfer
                           of the Purchased Shares at the Closing from VMC and
                           HoldCo to Vista and Granges in accordance with the
                           terms of the Agreement and the consummation of the
                           transactions contemplated by the Agreement; and

                  (xii)    the form of certificates representing the Purchased
                           Shares comply with the constating documents of
                           Paredones, the applicable corporate statutes of
                           Mexico and have been duly issued,

                  it being understood that counsel may rely as to matters of
                  fact, to the extent appropriate in the circumstances, on
                  certificates of VMC, HoldCo, Paredones and Viceroy executed on
                  behalf of VMC, HoldCo, Paredones and Viceroy by a senior
                  officer of VMC, HoldCo, Paredones and Viceroy, as the case may
                  be.

The foregoing conditions are inserted for the exclusive benefit of Vista and
Granges and may be waived in whole or in part by Vista and Granges at any time.

                                      -35-

<PAGE>

                                    ARTICLE 6

                    SURVIVAL OF REPRESENTATIONS AND INDEMNITY

6.1               SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS

                  The representations, warranties and covenants of each of the
parties hereto contained in this Agreement shall survive the Closing and the
completion of the transactions contemplated hereby and shall continue in full
force and effect for a period of one year thereafter.

6.2               INDEMNITY

         (a)      In addition to any other rights or remedies Vista and Granges
                  have under this Agreement, each of VMC, HoldCo and Viceroy
                  shall indemnify and save Vista and Granges harmless from and
                  against all losses, costs, damages, expenses, penalties and
                  liabilities suffered or incurred by Granges or Vista by reason
                  of:

                  (i)      a breach of any representation or warranty, covenant
                           or agreement in this Agreement by VMC, HoldCo or
                           Viceroy; and

                  (ii)     without limiting the generality of the foregoing, any
                           Liability, disclosed or undisclosed, known or
                           unknown, determined or undetermined, which was
                           created or existing or arose out of acts or omissions
                           prior to the Closing in connection with the Assets,
                           the Business or the Purchased Shares which Granges or
                           Vista is required to discharge, to the extent such
                           Liability has not been incurred or created by Granges
                           or Vista after the Closing,

                  provided such indemnity shall be limited to a maximum amount
                  equal to the Purchase Price.

         (b)      Until the amount payable by Vista to VMC and HoldCo under
                  Section 2.3(c) is paid in accordance with the terms of this
                  Agreement, such amount payable shall be offset by any amount
                  for which VMC, HoldCo or Viceroy are legally obligated to pay
                  pursuant to the indemnity provided by VMC, HoldCo and Viceroy
                  under Subsection 6.2(a), provided such amount is in excess of
                  $25,000.

                                    ARTICLE 7

                                     GENERAL

7.1               TIME AND PLACE OF CLOSING

                  The Closing shall take place at 12:00 o'clock p.m. (Vancouver
time) on the Closing Date at the offices of Borden Ladner Gervais LLP in
Vancouver, British Columbia, or at such other place or date as may be mutually
agreed by the parties.

7.2               NOTICES

                  Any notice or other communication which is required or
permitted to be given pursuant to any provision of this Agreement shall be in
writing, delivered personally, by registered mail or by telecopy, and addressed
as follows:

                                      -36-

<PAGE>

         (a)      in the case of a notice or other communication to VMC, HoldCo
                  or Viceroy:

                           Viceroy Resource Corporation
                           Suite 900, 570 Granville Street
                           Vancouver, British Columbia
                           V6C 3P1

                           Attention:  Chief Financial Officer
                           Telecopier Number:  (604) 682-3941

                  with a copy to:

                           DuMoulin Black
                           10th Floor, 595 Howe Street
                           Vancouver, British Columbia
                           V6C 2T5

                           Attention:  Corey M. Dean
                           Telecopier Number:  (604) 687-8772

         (b)      in the case of a notice or other communication to Granges or
                  Vista:

                           Vista Gold Corp.
                           Suite 5, 7961 Shaffer Parkway
                           Littleton, Colorado
                           U.S.A. 80127

                           Attention:  Ronald J. (Jock) McGregor
                           Telecopier Number:  (720) 981-1186

                  with a copy to:

                           Borden Ladner Gervais LLP
                           1200 Waterfront Centre
                           200 Burrard Street
                           P.O. Box 48600
                           Vancouver, British Columbia
                           V7X 1T2

                           Attention:  Jason J. Brooks

                           Telecopier Number:  (604) 687-1415

or such other address or telecopier number as a party may, from time to time,
advise the other parties hereto by notice in writing given in accordance with
the foregoing. The date of receipt of any such notice shall be deemed to be the
date of delivery thereof, if delivered, and on the day of telecopying, if
telecopied, provided such day is a Business Day and, if not, on the first
Business Day thereafter.

7.3               CONFIDENTIALITY AND DISCLOSURE

         (a)      Except as may be required by applicable laws, any information
                  concerning any of VMC, HoldCo, Viceroy, Granges, Vista or
                  Paredones and their respective affiliates disclosed to the
                  other parties to this Agreement or their representatives,
                  which has not been publicly disclosed, shall be kept strictly
                  confidential by them and shall not be disclosed or used by the
                  recipients thereof whether or not the Closing occurs until
                  publicly disclosed by the

                                      -37-

<PAGE>

                  party to which such information relates. Further, it is agreed
                  and acknowledged that all such information is being disclosed
                  solely for the purpose of completing the transactions
                  contemplated by this Agreement and shall not be used for any
                  other purpose. In the event that the Closing does not occur,
                  all documents, if any, of a confidential nature, delivered
                  VMC, HoldCo, Viceroy, Granges or Vista or their respective
                  representatives and any copies thereof shall be immediately
                  returned to the party to which such information relates.

         (b)      Except as may be required under applicable laws, no press
                  releases or material change reports relating to the
                  transactions contemplated hereby shall be issued by any party
                  to this Agreement, nor shall the terms of this letter be
                  disclosed to third parties other than the representatives of
                  the parties, without the mutual consent of the other parties
                  which consent shall not be unreasonably withheld. All
                  necessary press releases and material change reports required
                  form shall be submitted for approval by the party preparing
                  such press release or material change report to the other
                  parties prior to the filing thereof in accordance with
                  applicable laws, it being understood that if within five days
                  after such approval is requested no answer is received from
                  the other party, such approval shall be deemed to be granted.

7.4               DISPUTE RESOLUTION AND ARBITRATION

                  In the event of a dispute under or related to this Agreement,
the parties agree to negotiate diligently and in good faith the satisfactory
resolution of such dispute. Failing such resolution, the dispute shall be
resolved by binding arbitration pursuant to the COMMERCIAL ARBITRATION ACT
(British Columbia). Submission to arbitration shall be to a single arbitrator
appointed by agreement between Vista and Viceroy, on behalf of VMC and HoldCo,
within 10 days after either party gives notice to the other specifying the
matter to be submitted to arbitration. Failing the appointment of an arbitrator
within such 10 days the arbitrator may be appointed in the manner provided under
section 17 of the COMMERCIAL ARBITRATION ACT (British Columbia). The arbitration
shall take place in the City of Vancouver, British Columbia.

7.5               GOVERNING LAW

                  This Agreement shall be governed by and construed in
accordance with the Laws of the Province of British Columbia and the Laws of
Canada applicable therein and each of the parties irrevocably attorns to the
jurisdiction of the courts of British Columbia. Notwithstanding the foregoing,
matters relating to the transfer of the Purchased Shares will be governed by
Mexican Laws.

7.6               BINDING EFFECT

                  This Agreement shall be binding upon and shall enure to the
benefit of the parties hereto and their respective successors and permitted
assigns.

7.7               TIME OF ESSENCE

                  Time is of the essence of this Agreement.

7.8               ASSIGNMENT

                  Subject to the express provisions of this Agreement, neither
of the parties may assign his or its rights or obligations under this Agreement
without the prior written consent of the other, such consent not to be
unreasonably withheld.

                                      -38-

<PAGE>

7.9               FURTHER ASSURANCES

                  Each of the parties, upon the request of any other party,
whether before or after the Closing, shall do, execute, acknowledge and deliver
or cause to be done, executed, acknowledged or delivered all such further acts,
deeds, documents, assignments, transfers, conveyances and assurances as may be
reasonably necessary or desirable to effect complete consummation of the
transactions contemplated by this Agreement.

7.10              EXPENSES

                  Each of the parties shall each pay their respective expenses,
including legal and accounting fees, incurred in connection with this Agreement
and the transactions contemplated by this Agreement.

7.11              ENTIRE AGREEMENT

                  The terms and provisions contained in this Agreement
constitute the entire agreement between the parties pertaining to the subject
matter hereof and supersede all prior agreements, understandings, negotiations
and discussions, whether oral or written, between the parties with respect to
the subject matter hereof.

                                      -39-

<PAGE>

7.12              COUNTERPARTS AND FACSIMILE

                  This Agreement may be executed in one or more counterparts,
each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument. This Agreement and any counterpart
thereof may be executed by telecopy and when delivered shall be deemed to be an
original.

IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first above written.

VICEROY MINERALS CORPORATION

Per:
         /s/ Ronald Netolitsky
         -----------------------------------
         Authorized Signatory

Per:
         /s/ Susan Neale
         -----------------------------------
         Authorized Signatory

408178 BRITISH COLUMBIA LTD.

Per:
         /s/ Ronald Netolitsky
         -----------------------------------
         Authorized Signatory

Per:
         /s/ Susan Neale
         -----------------------------------
         Authorized Signatory

VICEROY RESOURCE CORPORATION

Per:
         /s/ Ronald Netolitsky
         -----------------------------------
         Authorized Signatory

Per:
         /s/ Susan Neale
         -----------------------------------
         Authorized Signatory

VISTA GOLD CORP.

Per:
         /s/ Ronald J. McGregor
         -----------------------------------
          Ronald J. (Jock) McGregor,
          President

Per:
         /s/ John F. Engele
         -----------------------------------
         John F. Engele
         Vice President, Finance and
         Chief Financial Officer

                                      -40-

<PAGE>

GRANGES INC.

Per:
         /s/ Ronald J. McGregor
         -----------------------------------
         Authorized Signatory

Per:
         /s/ Jason Brooks
         -----------------------------------
         Authorized Signatory

                                      -41-

<PAGE>

                                  SCHEDULE "A"

                                    EQUIPMENT

MINERA PAREDONES AMARILLOS SA DE CV
DETAIL LISTING OF FIXED ASSETS
(IN AMERICAN DLLS)
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------

   CANT.                 DESCRIPCION                          AREA CODE               SUB-TOTAL       IVA        TOTAL
---------------------------------------------------------------------------------------------------------------------------
   <S>     <C>                                    <C>                                  <C>            <C>        <C>
     1     Conmutador                             Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Contestadora Telefonica                Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Desviador de llamadas Digital          Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Radio receiving station                Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     4     Telefono con bocina                    Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     2     Telefono digital Panasonic             Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Telefono GE                            Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     5     Telefono General electric              Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Telefono Inalambrico                   Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     2     Telefono panasonic con bocina          Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     telefono panasonic inalambrico         Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     3     Telefono panasonic sin bocina          Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
           Radios y Antena                        Comunication Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Sample Prep Equipment                  Prep Lab Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Releted Transformer                    Prep Lab Equipment
---------------------------------------------------------------------------------------------------------------------------
                                                                                        9,091         909       10,000
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     1     Blazer model 1994                      Transportation Equipment              7,091         709        7,800
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     1     Archivero de 2 cajones                 Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Archivero de 2 cajones color Madera    Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Archivero de 4 gavetas                 Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Archivero de fierro caja fuerte de 3
           cajones color gris                     Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     2     Archiveros de 2 cajones                Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     2     Carretas de Water lines Cintas
           metricas                               Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Copiadora Xerox                        Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Copiadora Xerox XC1040                 Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Credensa color madera de
           1.70cm x .40cm                         Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Digitalizador con reticula             Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Escritorio de 1.40cm x .70 de
           2 cajones                              Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------

   CANT.                 DESCRIPCION                          AREA CODE               SUB-TOTAL       IVA        TOTAL
---------------------------------------------------------------------------------------------------------------------------
   <S>     <C>                                    <C>                                  <C>            <C>        <C>
     1     Estuche para Laboratorio color negro   Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Fax canon model L700                   Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Fax Sharp                              Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     librero                                Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Librero de 1.81cm x .71cm color
           Madera                                 Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Mesa de comedor desarmable             Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Mesa redonda                           Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Mesa redonda con 4 sillas              Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Mesita secretarial                     Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Microscopio Bausch-Lomb
           Model - ASZ130                         Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Microscopio Bausch-Lomb
           Model - ASZ37L3                        Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Microscopio fiberoptic                 Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Microscopio olimpus SZ30               Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Mueble 2 puertas de 2 divisiones
           1.60cm x .83cm                         Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Mueble para computadora de
           1.19 X 1.33                            Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Projector de acetatos 3M               Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Projector de diapositivas completo
           con 4cajitas                           Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Refrigerador con Portagarrafon         Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Silla ejecutiva color negro            Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Silla gerencial                        Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     5     sillas ejecutivas negras               Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     teodolito con estuche                  Office furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Computadora Acer                       Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Computadora Compaq Prolinea 4/50       Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Computadora Micron con Accs.           Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Impresora Canon BJC-210                Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Impresora Deskjet 560jet               Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Impresora HP Laserjet4                 Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Impresora HP paint jet XL300           Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     impresora HPdeskjet320                 Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Impresora Okidata                      Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Iomega Zip                             Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Laptop gateway 2000 y accs             Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     monitor panasonic                      Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     Monitor Syncmaster 3                   Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      A-1

<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------

   CANT.                 DESCRIPCION                          AREA CODE               SUB-TOTAL       IVA        TOTAL
---------------------------------------------------------------------------------------------------------------------------
   <S>     <C>                                    <C>                                  <C>            <C>        <C>
     1     Plotter Novajett II                    Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     supermonitor Magnavox                  Cumputer Equipment
---------------------------------------------------------------------------------------------------------------------------
     1     teclado Acer N. K6311121182            Equipo de computo                     10,000       1,000      11,000
---------------------------------------------------------------------------------------------------------------------------

                                                                                   ----------------------------------------
                                                                                        26,182       2,618      28,800
                                                                                   ----------------------------------------
                                                                                   ----------------------------------------
</TABLE>

DETAIL LISTING OF FIXED ASSETS (JV) & (V)

(IN PESOS)
<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------------------------------

   CANT.                 DESCRIPCION                          AREA CODE               SUB-TOTAL       IVA        TOTAL
---------------------------------------------------------------------------------------------------------------------------
   <S>      <C>                                   <C>                                 <C>                      <C>
     1      Casa Habitacion (Storage)             Building                            74,158.00                74,158.00
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     1      Partial Weather Station               Comunication Equipment              87,833.84                87,833.84
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     4      Sillas Ejecutivas negras              Office Furnicture and Equipment
---------------------------------------------------------------------------------------------------------------------------
     1      Mesa redonda Ejecutiva                Office Furnicture and Equipment     12,151.52    1,215.15    13,366.67
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     1      Software (Contpaq & Nomipaq)          Computer Equipment                  4,090.00      409.00     4,499.00
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     1      Printer Okidata Microline 320 turbo   Computer Equipment                  2,945.45      294.55     3,240.00
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
     1      Computadora Completa                  Computer Equipment                  13,764.00    1,376.00    15,140.00
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
                                                                                     194,942.81    3,294.70   198,237.51
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      A-2

<PAGE>

                                  SCHEDULE "B"

                                      LANDS

1.       Purchase Agreement entered into on May 18, 1999, by and between Ruben
         Beltran Peralta and Minera Paredones Amarillos, S.A. de C.V., granted
         in a public deed number 8,962 before Notary Public number 11 of La Paz,
         Baja California Sur.

2.       Purchase Agreement entered into on July 24, 1997, by and between Maria
         Ines Aviles Sanchez and Martin Navarro Tamayo and Echo Bay Mexico, S.A.
         de C.V., granted in a public deed number 15,057 before Notary Public
         number 2 of La Paz, Baja California Sur.*

3.       Purchase Agreement entered into on July 24, 1997, by and between
         Salvador Panfilo Rosas Hirales and Echo Bay Mexico, S.A. de C.V.,
         granted in a public deed number 15,063 before Notary Public number 2 of
         La Paz, Baja California Sur.*

4.       Purchase Agreement entered into on July 24, 1997, by and between
         Agustin Jaime Garcia Mendoza and his wife Socorro A. Aviles Sanchez and
         Echo Bay Mexico, S.A. de C.V., granted in a public deed number 15,058
         before Notary Public number 2 of La Paz, Baja California Sur.*

5.       Purchase Agreement entered into on July 24, 1997, by and between
         Francisca Leon Hirales and Echo Bay Mexico, S.A. de C.V., granted in a
         public deed number 15,061 before Notary Public number 2 of La Paz, Baja
         California Sur.*

6.       Purchase Agreement entered into on July 24, 1997, by and between Isidro
         Aviles Estrada and Echo Bay Mexico, S.A. de C.V., granted in a public
         deed number 15,056 before Notary Public number 2 of La Paz, Baja
         California Sur.*

7.       Purchase Agreement entered into on July 24, 1997, by and between
         Francisco Garcia Mendoza and Echo Bay Mexico, S.A. de C.V., granted in
         a public deed number 15,062 before Notary Public number 2 of La Paz,
         Baja California Sur.*

--------
*    The Lands described in these agreements are currently registered in the
     name of Echo Bay Mexico, S.A. de C.V. but will be transferred to Paredones
     after the Closing in accordance with Section 4.1(3) of this Agreement.

                                      B-1

<PAGE>

                                  SCHEDULE "C"

                               MATERIAL CONTRACTS

A.       MINING CONCESSION AGREEMENTS:

         1.       Contract of Assignment of Rights entered into on September 8,
                  1997 between Minera Tepmin, S.A. de C.V., Productos Metalicos
                  y Derivados, S.A. de C.V. and Echo Bay Mexico, S.A. de C.V.
                  ("EBM"), which Contract is not recorded with the Public
                  Registry of Mining in Mexico, but it is considered as valid
                  among the parties, pertaining to the Tocopilla, El Arbol de
                  Oro and Picachudo Concessions.

         2.       Contract of Assignment of Rights entered into on October 1,
                  1997 between Minera Paredones Amarillos, S.A. de C.V.
                  ("PAREDONES") and EBM, which Contract was ratified before a
                  Notary Public on May 12, 1998 providing for the assignment to
                  Paredones of the interest of Echo Bay Mexico, S.A. de C.V. in
                  the Contract of Assignment of Rights entered into on September
                  8, 1997.

         3.       Purchase Agreement among EBM, Paredones et al, dated October
                  15, 1999, and amended December 8, 1999 which, among other
                  things, grants a 2% net profits royalty to EBM in an amount
                  not to exceed U.S. $2,000,000 with respect to the exploitation
                  of the following mining concessions:

                  (a)      La Rica
                  (b)      Maile
                  (c)      Julia
                  (d)      Tocopilla
                  (e)      San Antonio
                  (f)      La Dificutad
                  (g)      Valle Perdido
                  (h)      La Encantada Fraccion 1
                  (i)      La Encantada Fraccion 2
                  (j)      La Encantada Fraccion I
                  (k)      La Encantada Fraccion II
                  (l)      Hole 1 Fraccion I
                  (m)      Hole 1 Fraccion II
                  (n)      Hole 1 Fraccion III
                  (o)      Cerro Pedregoso
                  (p)      Valle Perdido Fraccion I
                  (q)      Valle Perdido Fraccion II
                  (r)      Valle Perdido Fraccion III
                  (s)      Valle Perdido Fraccion IV
                  (t)      Valle Perdido Fraccion V

         4.       Stock Purchase Agreement entered into solely for the purpose
                  of registering the Echo Bay Net Profit Obligation with the
                  Public Registry of Mining in Mexico dated January 1, 2000
                  among EBM, Paredones and HoldCo.

                                      C-1

<PAGE>

B.       SURFACE RIGHTS AGREEMENTS:

         1.       Contract of Promise of Purchase and Sale, Subject to a
                  Specific Condition, entered into and ratified before a Notary
                  Public on April 26, 1997, by and between, as first party, Rosa
                  Ofelia Gonzalez Nunez acting as legal representative of the
                  estate of Leon Gonzalez Castillo; and, as a second party,
                  Paredones.

         2.       Contract of Promise of Purchase and Sale, Subject to a
                  Specific Condition, entered into on April 26, 1997, by and
                  between, as first party, Jose Adelaido Gonzalez; and, as a
                  second party, Paredones. Such contract was ratified before a
                  Notary Public on April 26, 1997.

         3.       Contract of Promise of Purchase and Sale, Subject to a
                  Specific Condition, entered into on April 26, 1997, by and
                  between, as first party, Santos Mario Cordero Aguilar; and, as
                  a second party, Paredones. Such contract was ratified before a
                  Notary Public on April 26, 1997.

         4.       Contract of Promise of Purchase and Sale, Subject to a
                  Specific Condition, entered into on April 26, 1997, by and
                  between, as first party, Jorge Ricardo Cordero Cordero; and,
                  as a second party, Paredones. Such contract was ratified
                  before a Notary Public on April 26, 1997.

         5.       Private Contract of Assignment of Rights and/or of Promise of
                  Sale, entered into on February 26, 1998, by and between
                  Francisco Moyron Romero and Paredones ratified before a Notary
                  Public on March 4, 1998.

         6.       Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Jose Adelaido Sanchez
                  Gonzalez as holder or possessor of a fraction of the servient
                  tenement known as "Jesus Maria" and Paredones as holder of the
                  dominant tenement.

         7.       Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Raul Rafael, Jose
                  Antonio, Cesar Augusto, Victor Manuel, Eduardo and Carlos
                  Alberto, all of them with last names Estrada Salgado, as
                  owners of a fraction of the servient tenement known as "La
                  Junta" and Paredones as holder of the dominant tenement.

         8.       Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 14, 1997, by and between Antonio Benjamin
                  Manriquez Guluarte, as owners of a fraction of the servient
                  tenement under the name of "Palmarito de los Sauces", known as
                  "Piedras Cuatas" and Paredones as holder of the dominant
                  tenement.

         9.       Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Rosa Ofelia Gonzalez
                  Nunez as holder or possessor of a fraction of the servient
                  tenement known as "Palmarito de los Sauces" and Paredones as
                  holder of the dominant tenement.

                                      C-2

<PAGE>

         10.      Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Rosa Ofelia Gonzalez
                  Nunez as holder or possessor of a fraction of the servient
                  tenement known as "Palmarito de los Sauces" and Paredones as
                  holder of the dominant tenement.

         11.      Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Raul Geronimo Salgado
                  Beltran as holder or possessor of a fraction of the servient
                  tenement known as "Huatamote or Huerta del Huatamote" and
                  Paredones as holder of the dominant tenement.

         12.      Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Maria Guadalupe Salgado
                  Martinez as holder or possessor of a fraction of the servient
                  tenement known as "Las Gallinas y sus Demasias" and Paredones
                  as holder of the dominant tenement.

         13.      Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 7, 1997, by and between Oscar Federico Von
                  Borstel Salgado as holder or possessor of a fraction of the
                  servient tenement known as "El Tule" also known as "Arroyo
                  Hondo" and Paredones as holder of the dominant tenement.

         14.      Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on February 8, 1997, by and between the ejido "El
                  Rosario" (el EJIDO) and Echo Bay Mexico, S.A. de C.V.*

         15.      Easement Agreement for the Benefit of the Federal Commission
                  of Electricity (Comision Federal de Electricidad/CFE), entered
                  into on April 18, 1997, by and between the ejido "El Triunfo"
                  (el EJIDO) and Echo Bay Mexico, S.A. de C.V.*

         16.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters - aqueduct), entered into on May 30,
                  1997 by and between Raul Rafael, Jose Antonio, Cesar Augusto,
                  Victor Manuel, Eduardo and Carlos Alberto, all of them with
                  last names Estrada Salgado, as owners of the servient tenement
                  known as "La Junta" and Paredones as holder of the dominant
                  tenement, ratified before a Notary Public on August 4, 1997.

         17.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters -aqueduct), entered into on July 2,
                  1997 by and between Francisco Moyron Romero, as owner of the
                  servient tenement known as "Palmarito de los Sauces" or "La
                  Cantora" and Paredones as holder of the dominant tenement,
                  ratified before a Notary Public on August 4, 1997.

         18.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters -aqueduct), entered into on
                  September 19, 1997 by and between Maria Consuelo Bancalari
                  Miranda, as owner of the servient tenement known as "El
                  Molino" or "Mesa

------
*    These agreements are currently registered in the name of Echo Bay Mexico,
     S.A. de C.V. but will be transferred after the Closing to Paredones in
     accordance with Section 4.1(3) of this Agreement.

                                      C-3

<PAGE>

                  del Molino" and Paredones as holder of the dominant tenement,
                  ratified before a Notary Public on September 26, 1997.

         19.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters -aqueduct), entered into on May 30,
                  1997 by and between Felix Beltran Dominguez, as owner of the
                  servient tenement known as "Palmarito de los Sauces" and
                  Paredones as holder of the dominant tenement, ratified before
                  a Notary Public on August 4, 1997.

         20.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters - aqueduct), entered into on July 2,
                  1997 by and between Juan Becerra Zuniga, as owner of the
                  servient tenement, lot number 0105, of the area known as "Juan
                  Marquez" and Paredones as holder of the dominant tenement,
                  ratified before a Notary Public on July 4, 1997.

         21.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters - aqueduct), entered into on August
                  23, 1997 by and between Victor Manuel Bancalari Estrada, as
                  owner of the servient tenement known as "La Bajada del Molino"
                  and Paredones as holder of the dominant tenement, ratified
                  before a Notary Public on September 2, 1997.

         22.      Easement Agreement (for the legal right of way and rights
                  concerning flowing waters - aqueduct), entered into on May 30,
                  1997 by and between Antonio Benjamin Manriquez Guluarte, as
                  owner of the servient tenement known as "Piedras Cuatas" a
                  fraction of the land "Palmarito de los Sauces" and Paredones
                  as holder of the dominant tenement, ratified before a Notary
                  Public on September 26, 1997.

         23.      Legal and Voluntary Easement of Access Agreement, entered into
                  on May 30, 1997, between Raul Geronimo Salgado Beltran, as
                  owner of the servient tenement, known as "El Huatamote" and
                  Paredones, as holder of the dominant tenement, ratified before
                  a Notary Public on July 10, 1997.

         24.      Legal and Voluntary Easement of Access Agreement, entered into
                  on May 30, 1997 between Agustina Martinez Vda. de Salgado, as
                  owner of the servient tenement, known as "Las Gallinas y sus
                  Demasias" and Paredones, as holder of the dominant tenement,
                  ratified before a Notary Public on July 10, 1997.

         25.      Legal and Voluntary Easement of Access Agreement, entered into
                  on May 30, 1997 between Antonio Jesus Diaz Rondero, as owner
                  of the servient tenement, known as "El Tule" and Paredones, as
                  holder of the dominant tenement, ratified before a Notary
                  Public on July 1, 1997.

         26.      Contract of Association, entered into on June 5, 1997 between
                  the Ejido "El Rosario" and Paredones.

C.       SERVICES AGREEMENTS:

         1.       Echo Bay Services Agreement dated August 4, 1995 between
                  Servicios Echo Bay, S.A. de C.V. and Paredones.

                                      C-4

<PAGE>

                                  SCHEDULE "D"

                                 MINERAL RIGHTS

A.       MINING CONCESSIONS

<TABLE>
         <S>      <C>                                <C>
         1.       Lot:                               FRACCION LA PERLA
                  Title number:                      199340
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 31, 1994
                  In effect until:                   March 30, 2000
                  Surface:                           6,695.8001 hectares
                  Application:                       4/1.3-2021

         2.       Lot:                              FRACCION LA PERLA 2 FRACCION I
                  Title number:                     204187
                  Type of Concession:               Exploration
                  Location:                         La Paz, B.C.S
                  Date of Issuance:                 December 18, 1996
                  In effect until:                  December 17, 2002
                  Surface:                          15.4529 hectares

         3.       Lot:                               FRACCION LA PERLA 2 FRACCION II
                  Title number:                      204188
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  December 18, 1996
                  In effect until:                   December 17, 2002
                  Surface:                           3.7800 hectares

         4.       Lot:                               FRACCION LA PERLA 2 FRACCION III
                  Title number:                      204189
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  December 18, 1996
                  In effect until:                   December 17, 2002
                  Surface:                           7.8480 hectares

         5.       Lot:                               FRACCION LA PERLA 2 FRACCION IV
                  Title number:                      204190
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  December 18, 1996
                  In effect until:                   December 17, 2002
                  Surface:                           13.4799 hectares
</TABLE>

                                      D-1

<PAGE>

<TABLE>
         <S>      <C>                                <C>
         6.       Lot:                               VALLE PERDIDO
                  Title number:                      201147
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           9,759.5903 hectares
                  Application:                       4/1.3-2221

         7.       Lot:                               VALLE PERDIDO FRACCION I
                  Title number:                      209346
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 30, 1999
                  In effect until:                   March 29, 2005
                  Surface:                           9.7752 hectares

         8.       Lot:                               VALLE PERDIDO FRACCION II
                  Title number:                      209347
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 30, 1999
                  In effect until:                   March 29, 2005
                  Surface:                           26.1006 hectares

         9.       Lot:                               VALLE PERDIDO FRACCION III
                  Title number:                      209348
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 30, 1999
                  In effect until:                   March 29, 2005
                  Surface:                           117.0791 hectares

         10.      Lot:                               VALLE PERDIDO FRACCION IV
                  Title number:                      209349
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 30, 1999
                  In effect until:                   March 29, 2005
                  Surface:                           3.3707 hectares

         11.      Lot:                               VALLE PERDIDO FRACCION V
                  Title number:                      209350
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 30, 1999
                  In effect until:                   March 29, 2005
                  Surface:                           2.5644 hectares
</TABLE>

                                      D-2

<PAGE>

<TABLE>
         <S>      <C>                                <C>
         12.      Lot:                               HOLE 1 FRACCION I
                  Title number:                      201158
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           25.4848 hectares
                  Application:                       4/1.3-2220

         13.      Lot:                               HOLE 1 FRACCION II
                  Title number:                      201159
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           9.4839 hectares
                  Application:                       4/1.3-2216

         14.      Lot:                               HOLE 1 FRACCION III
                  Title number:                      201160
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           0.6214 hectares
                  Application:                       4/1.3-2222

         15.      Lot:                               CERRO PEDREGOSO
                  Title number:                      201161
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 28, 1994
                  In effect until:                   November 27, 2000
                  Surface:                           46.6493 hectares
                  Application:                       4/1.3-2214

         16.      Lot:                               BILL
                  Title number:                      206777
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 12, 1998
                  In effect until:                   March 11, 2004
                  Surface:                           24.7824 hectares
</TABLE>

                                      D-3

<PAGE>

<TABLE>
         <S>      <C>                                <C>
         17.      Lot:                               LA ENCANTADA FRACCION I
                  Title number:                      201156
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           44.9991 hectares
                  Application:                       4/1.3-2218

         18.      Lot:                               LA ENCANTADA FRACCION II
                  Title number:                      201157
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           32.4882 hectares
                  Application:                       4/1.3-2215

         19.      Lot:                               LA ENCANTADA FRACCION 1
                  Title number:                      201145
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           166.2248 hectares
                  Application:                       4/1.3-2219

         20.      Lot:                               LA ENCANTADA FRACCION 2
                  Title number:                      201146
                  Type of Concession:                Exploration
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 21, 1994
                  In effect until:                   November 20, 2000
                  Surface:                           12.9992 hectares
                  Application:                       4/1.3-2217

         21.      Lot:                               SAN ANTONIO
                  Title number:                      180064
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  March 23, 1987
                  In effect until:                   March 22, 2037
                  Surface:                           151.3647 hectares
</TABLE>

                                      D-4

<PAGE>

<TABLE>
         <S>      <C>                                <C>
         22.      Lot:                               LA RICA
                  Title number:                      206545
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  January 23, 1998
                  In effect until:                   January 22, 2048
                  Surface:                           481.1593 hectares

         23.      Lot:                               LA DIFICULTAD
                  Title number:                      203910
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  November 5, 1996
                  In effect until:                   November 4, 2046
                  Surface:                           454.0218 hectares

         24.      Lot:                               TOCOPILLA
                  Title number:                      204511
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  February 28, 1997
                  In effect until:                   February 27, 2047
                  Surface:                           582.4949 hectares

         25.      Lot:                               EL ARBOL DE ORO
                  Title number:                      184973
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  December 13, 1989
                  In effect until:                   December 12, 2039
                  Surface:                           162.0000 hectares

         26.      Lot:                               EL PICACHUDO
                  Title number:                      189602
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  December 5, 1990
                  In effect until:                   December 4, 2040
                  Surface:

         27.      Lot:                               JULIA
                  Title number:                      204485
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  February 21, 1997
                  In effect until:                   February 20, 2047
                  Surface:                           469.4073 hectares
</TABLE>

                                       D-5

<PAGE>

<TABLE>
         <S>      <C>                                <C>
         28.      Lot:                               MAILE
                  Title number:                      207581
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  June 30, 1998
                  In effect until:                   June 29, 2048
                  Surface:                           296.9883 hectares

         29.      Lot:                               LA JOYA
                  Title number:                      212548
                  Type of Concession:                Exploitation
                  Location:                          La Paz, B.C.S
                  Date of Issuance:                  October 30, 2000
                  In effect until:                   October 29, 2050
                  Surface:                           346.0095 hectares
</TABLE>

B.       WATER CONCESSIONS

         1.       Water Concession Title No. IBCS 101214/03EMGE95 Granted to
                  Echo May Mexico, S.A. de C.V. on December 27, 1995, by the
                  National Commission of Waters.*

------
*    This water concession is currently registered in the name of Echo Bay
     Mexico, S.A. de C.V. but will be transferred after the Closing to Paredones
     in accordance with Section 4.1(3) of this Agreement.

                                      D-6

<PAGE>

                                  SCHEDULE "E"

                              PERMITS AND LICENCES

1.   Resolution D.O.O. DGOEIA.03322 issued May 22, 1997, by National Institute
     of Ecology (INE).

2.   Resolution D.O.O. DGOEIA.03854 issued June 13, 1997, by National Institute
     of Ecology (INE).

3.   Resolution D.O.O. DGOEIA.07181 issued November 11, 1997, by National
     Institute of Ecology (INE).

4.   SEMARNAP-BCS-03/415/98 issued October 13, 1998, by SEMARNAP, La Paz.

5.   SEMARNAP-BCS-03/409/97 issued November 27, 1997, by SEMARNAP, La Paz.

6.   Letter SRN.DGRCS.DPN.OF.378/97 issued October 30, 1997, by SEMARNAP Ing.
     Chapela Mendoza.

7.   No. 701-306 issued November 17, 1997, by Municipal Urban Development
     office, La Paz.

8.   No. 0-025 issued January 13, 1997, by State Urban Planning and Ecology
     office, La Paz.

9.   No. 0245/97 issued September 12, 1997, by State Urban Planning and Ecology
     office, La Paz.

10.  Flora and Fauna Rescue Program issued November 4/5, 1997, by SEMARNAP-BCS
     and INE-UCANP.

11.  Official Letter No. 02.233/98 issued June 9, 1998, by SEMAPRNAP-BCS
     (Fernandez).

12.  Official Letter No. 001/98 issued April 3, 1998, by Minera Paradones
     Amarillos, S.A. de C.V. (V. Juvera).

13.  Official Letter No. DOO.750.2240/98 issued March 11, 1998, by INE Mexico
     City.

14.  Official Letter No. JEC/BCS/234/97 issued December 3, 1997, by State Road
     Board of Southern Baja California.

15.  NUM-REGRP-BCS-052-95-01 issued December 12, 1996, by SEMARNAP, La Paz.

16.  Tailings Design Plans applied for on January 14, 1998, to National
     Institute of Ecology (INE).

17.  Sanitary Landfill preliminary approval, Document No. 0240/97, granted on
     September 11, 1997, by State Office of Urban Planning and Infrastructure.

                                      E-1

<PAGE>

                                  SCHEDULE "F"

                             PERMITTED ENCUMBRANCES

<TABLE>
<CAPTION>

                                              TYPE OF
        ENCUMBERING PARTY               OBLIGATION SECURED                     SPECIFICS OF ENCUMBRANCE

<S>                                     <C>                                    <C>
Nil

</TABLE>

                                      F-1

<PAGE>

                                  SCHEDULE "G"

                           FORM OF WARRANT CERTIFICATE

                                                                            W#-

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE FOLLOWING HOLD
PERIOD AND RESALE RESTRICTIONS:

1.       CANADIAN LEGEND - UNLESS PERMITTED UNDER CANADIAN SECURITIES
         LEGISLATION, THE HOLDER OF THE SECURITIES REPRESENTED BY THIS
         CERTIFICATE SHALL NOT TRADE THE SECURITIES BEFORE DECEMBER 30, 2002.

2.       U.S. LEGEND - THESE WARRANTS AND THE SECURITIES TO BE ISSUED UPON
         EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
         SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY APPLICABLE
         UNITED STATES STATE SECURITIES LAW. THESE WARRANTS MAY NOT BE EXERCISED
         BY OR ON BEHALF OF ANY U.S. PERSON UNLESS REGISTERED UNDER THE 1933 ACT
         AND IN COMPLIANCE WITH APPLICABLE UNITED STATES STATE SECURITIES LAW OR
         AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. "UNITED STATES" AND
         "U.S. PERSON" ARE AS DEFINED UNDER REGULATION S UNDER THE 1933 ACT.

       THE RIGHT TO PURCHASE COMMON SHARES UNDER THIS WARRANT CERTIFICATE
            EXPIRES AT 4:30 P.M. (VANCOUVER TIME) ON AUGUST 29, 2004

                             SHARE PURCHASE WARRANTS
                          TO PURCHASE COMMON SHARES OF

                                VISTA GOLD CORP.

THIS IS TO CERTIFY THAT, for value received, VICEROY RESOURCE CORPORATION (the
"HOLDER"), as nominee for Viceroy Minerals Corporation and 408178 British
Columbia Ltd., is the holder of 303,030 common share purchase warrants (the
"WARRANTS") of Vista Gold Corp. (the "CORPORATION"). Subject to adjustment as
provided for herein, each Warrant entitles the holder thereof to purchase from
the Corporation, upon and subject to the terms and conditions set forth herein,
one Common Share in the capital of the Corporation (the "SHARES") at the price
of CDN. $6.87 at any time during the period commencing on the date hereof and
ending at 4:30 p.m. (Vancouver time) on August 29, 2004 (such period, the
"EXERCISE PERIOD").

                                    ARTICLE 1

                              TERMS AND CONDITIONS

1.1      EXERCISE PRICE

         Subject to adjustment thereof in the events and in the manner set forth
         below, the price (the "EXERCISE PRICE") payable for each Share upon the
         exercise of each Warrant shall be Cdn. $6.87 in lawful money of Canada
         at any time during the Exercise Period.

                                      G-1

<PAGE>

1.2      METHOD OF EXERCISE

         The right to purchase Shares of the Corporation may only be exercised
by the Holder by:

         (a)      duly completing and executing the attached subscription form
                  in the manner indicated; and

         (b)      surrendering this warrant certificate and the duly completed
                  and executed subscription form to the Corporation at its
                  principal office in Littleton, Colorado or such other office
                  as may be specified by the Corporation, together with payment
                  of the purchase price for the Shares of the Corporation
                  subscribed for (as calculated by multiplying the Exercise
                  Price by the total number of Shares subscribed for) in the
                  form of cash, a bank draft or a certified cheque payable to or
                  to the order of the Corporation.

1.3      TRANSFER OF WARRANTS

         The Holder may transfer the Warrants represented hereby by:

         (a)      duly completing and executing the transfer form attached
                  hereto; and

         (b)      surrendering this warrant certificate and the duly completed
                  and executed transfer form, together with such other documents
                  as the Corporation may reasonably request, including an
                  acceptable legal opinion confirming that the transfer may be
                  completed in compliance with applicable securities laws, to
                  the Corporation at its principal office in Littleton, Colorado
                  or such other office as may be specified by the Corporation,
                  from time to time.

1.4      ISSUANCE OF SHARE CERTIFICATES

         Upon surrender of this warrant certificate, delivery of a duly
         completed and executed subscription form and payment of the Shares
         subscribed for, the Corporation will issue to the Holder the number of
         Shares subscribed for and will, within the next three business days
         mail to the Holder a certificate evidencing such Shares, together with
         cash, as provided in section 3.8, in respect of any fraction of a share
         otherwise issuable upon such surrender. To the extent permitted by
         applicable law, such share certificate shall be deemed to have been
         issued and the Holder shall be deemed to have become a holder of record
         of such Shares as of the date of exercise of the Warrants.

1.5      ISSUANCE OF WARRANT CERTIFICATES FOR UNEXERCISED WARRANTS

         If the Holder subscribes for a lesser number of Shares than the
         aggregate number of Shares issuable upon exercise of the Warrants the
         Corporation will forthwith cause to be delivered to the Holder a new
         warrant certificate in respect of the balance of the Warrants.

                                      G-2

<PAGE>

                                    ARTICLE 2

                       RESERVATION AND ISSUANCE OF SHARES

2.1      RESERVATION OF SHARES TO BE ISSUED

         The Corporation has reserved out of its authorized and unissued Shares,
         and will at all times during the Exercise Period have authorized and
         reserved for issuance, a sufficient number of Shares to provide for the
         exercise of all of the Warrants.

2.2      CHARACTERISTICS OF SHARES TO BE ISSUED

         All Shares issuable upon exercise of the Warrants will, at the time of
         issuance thereof, be duly authorized and validly allotted and issued as
         fully paid and non-assessable shares in the capital of the Corporation,
         free and clear of any and all liens, claims, security interests,
         pledges, encumbrances, equities and charges.

                                    ARTICLE 3

              ADJUSTMENT OF SUBSCRIPTION RIGHTS AND EXERCISE PRICE

3.1      ADJUSTMENT OF SUBSCRIPTION RIGHTS

         If at any time during the Exercise Period, there is a capital
         reorganization of the Corporation or a change in respect of or
         affecting the Shares not otherwise provided for in this Article 3 or a
         consolidation, merger or amalgamation of the Corporation with or into
         another body corporate (any such event being called a "CAPITAL
         REORGANIZATION"), the Holder will be entitled to receive, upon the
         exercise of the right to purchase Shares hereunder at any time after
         the record date for such Capital Reorganization, in lieu of the number
         of Shares to which it was entitled upon exercise, the aggregate number
         of shares or other securities of the Corporation or of the body
         corporate resulting from the Capital Reorganization that the Holder
         would have been entitled to receive as a result of such Capital
         Reorganization if, on the record date, the Holder had been the
         registered holder of the number of Shares to which it was entitled upon
         exercise, and such shares or other securities shall be subject to
         adjustment thereafter in accordance with provisions the same, as nearly
         as may be possible, as those contained in this Article 3; provided,
         however, that no such Capital Reorganization will be carried into
         effect unless all necessary steps have been taken so that the Holder
         will thereafter be entitled to receive such number of shares or other
         securities of the Corporation or of the body corporate resulting from
         the Capital Reorganization.

3.2      If at any time during the Exercise Period, any adjustment in the
         Exercise Price shall occur as a result of:

         (a)      an event referred to in paragraph 3.3(a);

         (b)      the fixing by the Corporation of a record date for an event
                  referred to in paragraph 3.3(b); or

         (c)      the fixing by the Corporation of a record date for an event
                  referred to in paragraph 3.3(c) if such event constitutes the
                  issue or distribution to the holders of all or substantially
                  all

                                      G-2

<PAGE>

                  of its outstanding Shares of (i) Equity Shares, (ii)
                  securities exchangeable for or convertible into Equity Shares
                  at any exchange or conversion price per Equity Share less than
                  the Current Market Price on such record date, or (iii) rights,
                  options or warrants to acquire Equity Shares at an exercise,
                  exchange or conversion price per Share less than the Current
                  Market Price on such record date,

         then the number of Shares issuable upon the subsequent exercise of the
         Warrants shall be adjusted simultaneously with the adjustment to the
         Exercise Price by multiplying the number of Shares issuable upon the
         exercise of the Warrants immediately prior to such adjustment by a
         fraction which shall be the reciprocal of the fraction employed in the
         adjustment of the Exercise Price.

3.3      ADJUSTMENT OF EXERCISE PRICE

         The Exercise Price in effect at any date shall be subject to adjustment
from time to time as follows:

         (a)      If and whenever at any time during the Exercise Period, the
                  Corporation:

                  (i)      subdivides its outstanding Shares into a greater
                           number of shares;

                  (ii)     consolidates its outstanding Shares into a smaller
                           number of shares; or

                  (iii)    issues Shares to the holders of all or substantially
                           all of its outstanding Shares by way of a stock
                           dividend or other distribution other than a dividend
                           paid in the ordinary course;

                  (any of such events being called a "SHARE REORGANIZATION"),
                  the Exercise Price will be adjusted effective immediately
                  after the record date of the Share Reorganization at which the
                  holders of Shares are determined for the purpose of the Share
                  Reorganization by multiplying the Exercise Price in effect
                  immediately prior to the record date by a fraction of which:

                           A.       the denominator shall be the number of
                                    Shares outstanding immediately after giving
                                    effect to the Share Reorganization; and

                           B.       the numerator shall be the number of Shares
                                    outstanding on such record date before
                                    giving effect to the Share Reorganization.

         (b)      If and when at any time during the Exercise Period, the
                  Corporation fixes a record date for the issue of rights,
                  options or warrants to the holders of all or substantially all
                  of its outstanding Shares under which such holders are
                  entitled, during a period expiring not more than 45 days after
                  the date of issue of such rights, options or warrants (the
                  "RIGHTS PERIOD"), to subscribe for or purchase Shares at a
                  price per share, or securities convertible into Shares at a
                  conversion price per share during the Rights Period to the
                  holder, of less than 95% of the Current Market Price of the
                  Shares on the record date for the issue of such rights,
                  options or warrants (any of such events being called a "RIGHTS
                  OFFERING"), the Exercise Price will be adjusted effective
                  immediately after the end of the Rights Period by multiplying
                  the Exercise Price in effect immediately prior to the end of
                  the Rights Period by a fraction of which:

                                      G-4

<PAGE>

                  (i)      the denominator shall be the number of Shares
                           outstanding, or the number of Shares which would be
                           outstanding if all such securities convertible into
                           Shares were converted into Shares during the Rights
                           Period, in both cases after giving effect to the
                           Rights Offering and including the number of Shares
                           actually issued or subscribed for during the Rights
                           Period upon exercise of the rights, warrants or
                           options under the Rights Offering; and

                  (ii)     the numerator shall be the aggregate of:

                           A.       the number of Shares outstanding as of the
                                    record date for the Rights Offering; and

                           B.       a number determined by dividing (1) either
                                    (a) the product of the number of Shares
                                    issued or subscribed for during the Rights
                                    Period upon the exercise of the rights,
                                    options or warrants under the Rights
                                    Offering and the price at which such Shares
                                    are offered or, as the case may be, (b) the
                                    product of the conversion price of such
                                    securities convertible into Shares and the
                                    number of Shares for or into which the
                                    securities so offered pursuant to the Rights
                                    Offering could have been converted during
                                    the Rights Period, by (2) the Current Market
                                    Price of the Shares as of the record date
                                    for the Rights Offering.

                  Any Shares owned by or held for the account of the Corporation
                  will be deemed not to be outstanding for the purpose of any
                  such computation.

                  If the Holder has exercised the right to purchase Shares in
                  accordance with the provisions of this warrant certificate
                  during the period beginning immediately after the record date
                  for a Rights Offering and ending on the last day of the Rights
                  Period for that Rights Offering then, in addition to the
                  Shares to which the Holder is otherwise entitled upon such
                  exercise in accordance with this warrant certificate, the
                  Holder will be entitled to that number of additional Shares
                  which, when added to the number of Shares to which the Holder
                  is entitled upon such exercise in accordance with this warrant
                  certificate, equals the number of Shares to which the Holder
                  would have been entitled upon exercise in accordance with this
                  warrant certificate if the Holder had exercised the right to
                  purchase after the adjustment of the Exercise Price effective
                  immediately after the end of the Rights Period; provided,
                  however, that the provisions of paragraph 3.8 will be
                  applicable to any fractional interest in a Share to which the
                  Holder might otherwise be entitled. Such additional Shares
                  shall be deemed to have been issued to the Holder immediately
                  following the end of the Rights Period.

         (c)      If and when at any time during the Exercise Period, the
                  Corporation fixes a record date for the issue or distribution
                  to the holders of all or substantially all of its outstanding
                  Shares of:

                  (i)      shares of any class;

                  (ii)     evidences of its indebtedness;

                  (iii)    assets or property; or

                                      G-5

<PAGE>

                  (iv)     rights, options or warrants to subscribe for or
                           purchase any of the foregoing (other than rights,
                           options or warrants to purchase Shares exercisable
                           within 45 days of the record date at a price per
                           Share equal to or greater than 95% of the then
                           Current Market Price);

                  and if such issue or distribution does not constitute a Share
                  Reorganization, a Rights Offering or a dividend paid in the
                  ordinary course (any of such events described in subparagraphs
                  3.3(c)(i) through 3.3(c)(iv) being called a "SPECIAL
                  DISTRIBUTION"), the Exercise Price will be adjusted
                  immediately after the record date at which the holders of
                  Shares are determined for the purpose of the Special
                  Distribution by multiplying the Exercise Price in effect on
                  such record date by a fraction of which:

                           A.       the denominator shall be the product
                                    obtained when the number of Shares
                                    outstanding on the record date is multiplied
                                    by the Current Market Price of the Shares on
                                    such date; and

                           B.       the numerator shall be the difference
                                    obtained when (1) the amount by which the
                                    aggregate fair market value at the time of
                                    distribution thereof (as determined by the
                                    board of directors on the basis of generally
                                    accepted accounting principles) of the
                                    shares, rights, options, warrants, evidences
                                    of indebtedness or assets or property, as
                                    the case may be, distributed in the Special
                                    Distribution exceeds the fair market value
                                    (as determined by the board of directors on
                                    the basis of generally accepted accounting
                                    principles) of the consideration, if any,
                                    received therefor by the Corporation, is
                                    subtracted from (2) the product obtained
                                    when the number of Shares outstanding on the
                                    record date is multiplied by the Current
                                    Market Price of the Shares on such date;

                  however, no such adjustment shall be made if the result of
                  such adjustment would be to increase the Exercise Price in
                  effect immediately before such record date. Any Shares owned
                  by or held for the account of the Corporation shall be deemed
                  not to be outstanding for the purpose of any such computation.
                  To the extent that such distribution is not so made, the
                  Exercise Price will be readjusted effective immediately to the
                  Exercise Price that would then be in effect based upon such
                  shares or rights, options or warrants or evidences of
                  indebtedness or assets or property actually distributed.

3.4      ADJUSTMENT OF SUBSCRIPTION RIGHTS IN CERTAIN CIRCUMSTANCES

         In the case of any reclassification of, or other change in, the
         outstanding Shares other than a Share Reorganization a Capital
         Reorganization or a Special Distribution, the subscription rights
         provided herein shall be adjusted immediately after the record date for
         such reclassification or other change so that the Holder shall be
         entitled to receive, upon the exercise of such rights at any time after
         the record date of such reclassification or other change, such shares
         as it would have received had the Warrants been exercised in full
         immediately prior to such record date, such shares to be subject to
         adjustment thereafter in accordance with provisions the same, as nearly
         may be possible, as those contained in this Article 3.

                                      G-6

<PAGE>

3.5      RULES FOR ADJUSTMENT OF SUBSCRIPTION RIGHTS AND EXERCISE PRICE

         For the purpose of this Article 3:

         (a)      The adjustments provided for in this Article 3 are cumulative
                  and will be made successively whenever an event referred to in
                  a particular provision of this Article 3 occurs, subject to
                  the following provisions of this section 3.5.

         (b)      No adjustment to the Exercise Price will be made in respect of
                  any event described in section 3.3, other than the events
                  referred to in subparagraphs 3.3(a)(i) and 3.3(b)(i), if the
                  Holder is entitled to participate in such event on the same
                  terms as though and to the same effect as if it had exercised
                  the Warrants in full prior to or on the effective date or
                  record date of such event (any such participation being
                  subject to the prior consent of the Toronto Stock Exchange).

         (c)      No adjustment in the Exercise Price will be required unless
                  such adjustment would require an increase or decrease of at
                  least 1% in the Exercise Price and no adjustment will be made
                  in the number of Shares issuable on exercise of the Warrants
                  unless it would result in a change of at least one-hundredth
                  of a share; provided, however, that any adjustments which by
                  reason of this paragraph 3.5(c) are not required to be made
                  will be carried forward and taken into account in any
                  subsequent adjustment.

         (d)      If the Corporation sets a record date to determine the holders
                  of the Shares for the purpose of entitling them to receive any
                  dividend or distribution or sets a record date to take any
                  other action and thereafter and before the distribution to
                  such shareholders of any such dividend or distribution or the
                  taking of any other action legally abandons its plan to pay to
                  deliver such dividend or distribution or take such other
                  action, then no adjustment in the Exercise Price or the number
                  of Shares issuable upon the exercise of the Warrants will be
                  required by reason of the setting of such record date.

         (e)      If any question at any time arises with respect to the
                  Exercise Price or the number of Shares issuable upon exercise
                  of the Warrants or with respect to the amount of any cash
                  payment to be made in lieu of issuing a fractional share, such
                  question will be conclusively determined by the auditors of
                  the Corporation and will be binding.

         (f)      In the absence of a resolution of the board of directors
                  fixing a record date for a Share Reorganization, Special
                  Distribution or Rights Offering, the Corporation shall be
                  deemed to have fixed as the record date thereof the date on
                  which the Share Reorganization, Special Distribution or Rights
                  Offering is effected.

3.6      PROCEEDINGS PRIOR TO ANY ACTION REQUIRING ADJUSTMENT

         As a condition precedent to the taking of any action which would
         require an adjustment pursuant to sections 3.1, 3.2, 3.3 or 3.4, the
         Corporation shall take all actions which may, in the opinion of a
         solicitor acceptable to the Holder, be necessary in order that the
         Corporation may validly and legally issue as fully paid and
         non-assessable all the Shares which the Holder is entitled to receive
         on the full exercise hereof in accordance with the provisions hereof.

                                      G-7

<PAGE>

3.7      NOTICE OF ADJUSTMENT OF EXERCISE PRICE AND SUBSCRIPTION RIGHTS

         At least 21 days prior to the effective date or record date, as the
         case may be, of any event which requires or might require an adjustment
         in the Exercise Price or the number of Shares issuable upon the
         exercise of the Warrants, the Corporation shall give written notice to
         the Holder specifying the particulars of such event and, if
         determinable, the required adjustment and the computation of such
         adjustment. In case any adjustment for which such a notice has been
         given is not then determinable, the Corporation shall forthwith after
         such adjustment is determinable give written notice to the Holder
         evidencing a computation of such adjustment.

3.8      FRACTIONAL SHARE INTERESTS

         The Corporation shall not be required to issue fractional Shares upon
         any exercise of the Warrants. If any fractional interest in a Share
         would, except for the provisions of this section 3.8, be deliverable
         upon the exercise of the Warrants, the Corporation shall, in lieu of
         delivering any certificate of such fractional interest, satisfy such
         fractional interest by paying to the Holder an amount equal to the
         Current Market Price of the Shares on the date of exercise of the
         Warrants multiplied by such fractional interest.

3.9      DEFINITIONS

         In this Article 3:

         (a)      "BOARD OF DIRECTORS" means the board of directors of the
                  Corporation;

         (b)      "SHARES" means the Common Shares without par value in the
                  capital of the Corporation and if there is a change in respect
                  of or affecting the Shares referred to in sections 3.1, 3.2,
                  3.3 or 3.4, then "SHARES" shall mean the shares or other
                  securities or property issuable or receivable on the exercise
                  of the Warrants as a result of any such change;

         (c)      "CURRENT MARKET PRICE" of the Shares at any date means the
                  weighted average trading price of the Shares on any stock
                  exchange in Canada or the United States on which the Shares
                  are listed and posted for trading as may be selected for that
                  purpose by the board of directors, during the ten most recent
                  trading days ending on a date not earlier than the fifth
                  trading day before that date or, if the Shares are not listed
                  and posted for trading on any stock exchange, the Current
                  Market Price as determined by the board of directors in
                  accordance with generally accepted accounting principles;

         (d)      "DIVIDEND PAID IN THE ORDINARY COURSE" means a dividend paid
                  on the Shares in any financial year of the Corporation,
                  whether in (1) cash, (2) securities of the Corporation,
                  including rights, options or warrants (but excluding rights,
                  options or warrants referred to in paragraph 3.3(b) and
                  rights, options or warrants referred to in parentheses in
                  subparagraph 3.3(c)(iv) to purchase any securities of the
                  Corporation or property or other assets of the Corporation or
                  (3) property or other assets of the Corporation, to the extent
                  that the amount or value of such dividend together with the
                  amount or value of all other dividends theretofore paid during
                  such financial year (any such securities, property or other
                  assets so distributed to be valued at the fair market value of
                  such securities, property or other assets, as the case may be,
                  as determined by the board of directors based on generally
                  accepted accounting principles) does not exceed the greater
                  of:

                                      G-8

<PAGE>

                  (i)      of the aggregate amount of dividends paid by the
                           Corporation on the Shares in the period of 12
                           consecutive months ended immediately prior to the
                           first day of such financial year; or

                  (ii)     of the consolidated net income of the Corporation
                           before extraordinary items for (but after dividends
                           payable on all shares ranking prior to or on a parity
                           with the payment of dividends with the Shares in
                           respect of) the period of 12 consecutive months ended
                           immediately prior to the first day of such financial
                           year (such consolidated net income, extraordinary
                           items and dividends to be shown in the audited
                           consolidated financial statements of the Corporation
                           for such period of 12 consecutive months or if there
                           are no audited consolidated financial statements for
                           such period, computed in accordance with generally
                           accepted accounting principles, consistent with those
                           applied in the preparation of the most recent audited
                           consolidated financial statements of the Corporation;

         (e)      "EQUITY SHARES" means the Shares and any shares of any other
                  class or series of the Corporation which may from time to time
                  be authorized for issue if by their terms such shares confer
                  on the holders thereof the right to participate in the
                  distribution of assets upon the voluntary or involuntary
                  liquidation, dissolution or winding-up of the Corporation
                  beyond a fixed sum or a fixed sum plus accrued dividends; and

         (f)      "TRADING DAY" with respect to any stock exchange means a day
                  on which that exchange is open for business and on which at
                  least one board lot of the Shares of the Corporation is
                  traded.

                                   ARTICLE 4

                           NO RIGHTS AS SHAREHOLDERS

4.1       Nothing contained herein shall be construed as conferring upon the
          Holder, by reason only of holding the Warrants, any rights as a
          shareholder of the Corporation.

                                    ARTICLE 5

                                      TAXES

5.1      The Corporation shall pay all expenses, charges and documentary stamp
         or issue taxes, if any, attributable to the issuance of Shares upon the
         exercise of the Warrants.

                                    ARTICLE 6

                            REPLACEMENT CERTIFICATES

6.1      In case this or any other certificate representing the Warrants shall
         be mutilated, lost, stolen or destroyed, the Corporation shall issue
         and deliver in exchange and substitution for and upon cancellation of
         the mutilated certificate, or in lieu of and substitution for the
         certificate lost, stolen or destroyed, a new certificate of like tenor
         and representing the same number of the

                                      G-9

<PAGE>

                  Warrants as such mutilated, lost, stolen or destroyed
                  certificate, upon receipt of evidence reasonably satisfactory
                  to the Corporation of such loss, theft or destruction of such
                  certificate and an indemnity or bond, if requested, reasonably
                  satisfactory to the Corporation.

                                    ARTICLE 7

                               GENERAL PROVISIONS

7.1      The terms hereof shall be governed by and construed in accordance with
         the laws of the Province of British Columbia.

7.2      All of the covenants and provisions hereof by or for the benefit of the
         Corporation or the Holder shall bind and inure to the benefit of their
         respective successors.

7.3      Time shall be of the essence hereof.

         IN WITNESS WHEREOF Vista Gold Corp. has caused this warrant certificate
to be signed by its duly authorized officer as of the 29th day of August, 2002.

                                                VISTA GOLD CORP.

                                                By:
                                                     ---------------------------
                                                        Authorized Signatory

                                      G-10

<PAGE>

                                SUBSCRIPTION FORM

TO:               Vista Gold Corp. (the "CORPORATION")
                  Suite 5, 7961 Shaffer Parkway
                  Littleton, Colorado
                  U.S.A.  80127

                  The undersigned holder of the attached warrant certificate
hereby exercises _______ Warrants and thereby subscribes for _______________
Common Shares of the Corporation (the "SHARES") on the terms specified in the
warrant certificate and encloses herewith, cash or a certified cheque or bank
draft payable to the Corporation in payment of the subscription price for the
Shares.

         The undersigned holder of the attached warrant certificate
hereby certifies to the Corporation, by initialling the box to the
right of this statement, that the undersigned is not a U.S. Person (as    / /
such term is defined in Regulation S under the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act")) and that these warrants
are not being exercised on behalf of a U.S. Person.

                  In the absence of the certification described in the preceding
paragraph, the undersigned has delivered with this completed Subscription Form a
written opinion of counsel reasonably satisfactory to the Corporation that these
warrants and the Shares delivered upon exercise thereof have been registered
under the U.S. Securities Act or are exempt from registration thereunder.

                  Please issue and deliver certificate(s) representing the
Shares subscribed for as follows:
<TABLE>
<CAPTION>
                                    ADDRESS(ES)
  NAME(S) IN FULL              (INCLUDE POSTAL CODE)            NUMBER OF SHARES
<S>                         <C>                                  <C>
---------------------       -------------------------------      --------------
---------------------       -------------------------------      --------------
---------------------       -------------------------------      --------------
---------------------       -------------------------------      --------------
</TABLE>

             and to mail such certificates to:

                    ------------------------------------
                    (name)

                    ------------------------------------
                    (address)

                    ------------------------------------

                    ------------------------------------

             DATED this _______ day of ______________________, 20______.

                                    -------------------------------------------
                                    (Name of Holder - please print)

                                    -------------------------------------------
                                    Signature of Authorized Signatory

                                    -------------------------------------------
                                    Name of Authorized Signatory

                                    -------------------------------------------
                                    Title of Authorized Signatory

                                      G-11

<PAGE>

                                  TRANSFER FORM

TO:               Vista Gold Corp. (the "CORPORATION")
                  Suite 5, 7961 Shaffer Parkway
                  Littleton, Colorado
                  U.S.A.  80127

                  FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto ____________________________ (name), ____________________________

_________________________________________(address), ___________________ Warrants
of the Corporation registered in the name of the undersigned on the records of
the Corporation represented by the within certificate and irrevocably appoints
____________________________________ the attorney of the undersigned to transfer
the said securities on the books or register with full power of substitution.

         THE UNDERSIGNED HEREBY CERTIFIES THAT THE WARRANTS ARE BEING SOLD,
                ASSIGNED OR TRANSFERRED IN ACCORDANCE WITH APPLICABLE
                SECURITIES LAWS COVERING ANY SUCH TRANSACTION.

                DATED this _______ day of ______________________, 20______.

                                    -------------------------------------------
                                    (Name of Holder - please print)

                                    -------------------------------------------
                                    Signature of Authorized Signatory

                                    -------------------------------------------
                                    Name of Authorized Signatory

                                    -------------------------------------------
                                    Title of Authorized Signatory

INSTRUCTIONS:

1.       EXCEPT AS PROVIDED BELOW, THE SIGNATURE ON THIS TRANSFER FORM MUST BE
         THE SIGNATURE OF THE PERSON WHOSE NAME APPEARS ON THE FACE OF THE
         CERTIFICATE EVIDENCING THE WARRANTS.

2.       IF THIS TRANSFER FORM IS SIGNED BY A TRUSTEE, EXECUTOR, ADMINISTRATOR,
         CURATOR, GUARDIAN, ATTORNEY, OFFICER OF A CORPORATION OR ANY PERSON
         ACTING IN A FIDUCIARY OR REPRESENTATIVE CAPACITY, THE CERTIFICATE MUST
         BE ACCOMPANIED BY EVIDENCE OF AUTHORITY TO SIGN SATISFACTORY TO THE
         CORPORATION.

                                      G-12

<PAGE>

                                  SCHEDULE "H"

                         REQUIRED CONSENTS AND APPROVALS

<TABLE>
<CAPTION>
<S>                                  <C>
AUTHORITY OR PARTY                   TYPE OF CONSENT/APPROVAL

National Institute of Ecology        Notice of change of shareholders regarding authorizations granted to
                                     Minera Paredones Amarillos, S.A. de C.V. with respect to the
                                     Environmental Impact Statement for the Paredones Amarillos mining
                                     project.

Toronto Stock Exchange and           Consent to issuance and listing of the Vista Shares and the Vista
American Stock Exchange              Warrant Shares.
</TABLE>

                                      H-1

<PAGE>

                                  SCHEDULE "I"

                              FINANCIAL STATEMENTS

                                  BALANCE SHEET
                             JULY 31, 2002 AND 2001
                                 (Mexican pesos)
                                  notes 1 and 2
<TABLE>
<CAPTION>
                                      07/31/2002       2001                                     07/31/2002       2001
            A S S E T S                                             L I A B I L I T I E S

CURRENT ASSETS                                                   SHORT TERM

<S>                                        <C>           <C>                                           <C>
Cash (notes 2a and 3)                      $38,464        $4,129 Accounts payable                                 $134,578

IVA tax to be refund                       595,139       535,131 Taxes payable                         2,358
                                                                                                  ----------    ----------
Others receivable accounts                  39,847        39,048                                       2,358       134,578
                                                                 LONG TERM
Advanced payments (note 4)                  11,410        11,374
                                          --------      -------- Affiliated companies
                                           684,859       589,682   (notes 2a, 3 and 7)                           4,661,421
                                                                                                  ----------    ----------
                                                                                                       2,358     4,795,999
Afiliated companies (notes 2a, 3 and 7)                3,768,731                                  ----------    ----------
                                                                 CONTINGENT LIABILITY (note 8)

                                                                                STOCKHOLDERS EQUITY (note 9)

Mining concessions (note 5)              9,307,029     9,307,029

Machinary, furniture and equipment                               Capital stock                   127,934,846   121,517,296
    -net                                   216,925       213,979 Premium on shares                14,605,466    14,605,466
                                                                 Legal reserve                         3,320         3,320
                                                                 Accumulated profits and
Exploration expenses                                             losses                         (57,627,122)  (55,944,607)
    (notes 2b and 6)                   124,259,334   124,259,334 Net loss                        (5,294,518)   (1,682,515)
                                                                 Accumulated inflation effects    65,967,933    65,967,933
Deferred Income Tax (notes 2d y 12)     12,035,993    12,035,993 Accumulated effect of deferred
                                                                    income tax (note 12)             911,857       911,857
                                                                                                 -----------   -----------
                                                                                                 146,501,783   145,378,750
                                      ------------  ------------                                 -----------   -----------
                                      $146,504,141  $150,174,749                                $146,504,141  $150,174,749
                                      ============  ============                                 ===========   ===========
</TABLE>
The notes attached to the financial statement are an integral part of this
statement.
                            C.P. GONZALO ZAVALA RUIZ
                             Administrative manager

                                      I-1

<PAGE>

                                  SCHEDULE "J"

                                 BANK FACILITIES

ACCOUNT:

Bancomer SA
Isabel La Catolica No. 1850 E/ Nicolas Bravo
La Paz BCS   CP 23000   Tel 011 52 612 12 51482   Fax 011 52 612 12 56038
Plaza No. 031 Sucursal 100

ACCOUNT NUMBER:

Pesos account: 031 1003695-6
Dollar Account: 031 1005707-6

SAFETY DEPOSIT BOXES:

None

NAMES OF ALL PERSONS AUTHORIZED TO TRANSACT BUSINESS IN RESPECT OF EACH ACCOUNT:

Gonzalo Zavala Ruiz

                                      J-1

<PAGE>

                                  SCHEDULE "K"

                       ENVIRONMENTAL ORDERS OR AGREEMENTS

1.       OFFICIAL COMMUNICATION NUMBER:                       D.O.O.DGOEIA 03322
         DATE OF ISSUANCE:                                    May 22, 1997

         LOTS REFERRED TO IN SAID COMMUNICATION:

         Tecopilla [sic] (Tocopilla)                 162832
         San Antonio                                 180064
         Maile                                       193677
         Julia                                       195689
         La Rica                                     189071
         La Dificultad                               201086
         La Encantada Frac. 1                        201145
         La Encantada Frac. 2                        201146
         La Encantada Frac. I                        201156
         Valle Perdido                               201147
         Cerro Pedregaso                             201161
         Hole 1 Frac. I                              201158
         Hole 1 Frac. II                             201159
         Hole 1 Frac. III                            201160

         PURPOSE:   Authorize -in a conditioned manner- the development of the
                    Paredones Amarillos Project, subject to the terms and
                    conditions set forth therein.

         NOTES:     The authorization is expressly issued to MPA directly.

         CONTEMPLATED STAGES:

         EXPLOITATION:     Open pit: 11,000 tons of minerals per day of
                           operation, 24 hours a day, seven days a week.

         ASSOCIATED PROJECTS:

         Access road
         Electric line (tendido electrico)
         Telephone communications to the facilities
         Works to supply water to the project

         AUTHORIZED AREA:  249.00.00 has.

                                      K-1

<PAGE>

THE AUTHORIZATION DOES NOT CONTEMPLATE THE CONSTRUCTIONS OF A TAILING DAM.

TERM:             10 years for the operation of the project, counted from the
                  following day on which the official communication was
                  received. Said term and may be extended (to the sole
                  discretion of the authority) and if such extension be applied
                  for with 30 days anticipation prior to its expiration date.

Any possible change to the Environmental Impact Study approved must be
previously informed to the authority.

NOTES:            The construction, operation, maintenance and abandonment of
                  the works of the project must be subject to the description
                  contained in the Environmental Impact Study and drawings
                  (maps) of the project, and subject to that stated in the
                  official communication, according to -among other- the
                  following:

                                   CONDITIONS

1.       MPA must file with the environmental authorities (within 30 days
         following their obtainment) copies of permits granted by the competent
         authorities regarding disposition of residual waters, change of use of
         soil, disposal of waste and handling and storage of explosives.

2.       Prior to commence its activities, MPA must obtain the exploitation
         titles covering the mining exploration concessions referred to in the
         authorization

3.       MPA must create an internal surveillance body for environmental
         purposes.

4.       MPA must inform its workers on the provisions and penalties stated in
         the law on flora and fauna protection.

5.       MPA must preferably hire or retain the services of residents of the
         area.

6.       Within a 3-month term counted from the date of issuance of the
         authorization, MPA must file a detailed Environmental Protection
         Program

7.       A Rescue Program supervised by the delegation of SEMARNAT in the state
         of BCS and by the Natural Protected Areas Coordination Unit must be
         implemented.

8.       Within a 60-day term following the date of the authorization, MPA must
         formalize an agreement with the Natural Protected Areas Coordination
         Unit on the support that will be provided for the administration and
         handling of the Biosphere Reserve where the project is located.

-        RECUPERATION PLANT (includes all stages)

-        EXPLOITATION OF MINERALS (includes all stages)

                                      K-2

<PAGE>

-        ENVIRONMENTAL MONITORING

-        ABANDONMENT AND RESTORATION

-        IN THE AREA OF ENVIRONMENTAL RISK

1.       MPA must inform the environmental authorities within three months of
         the issuance of the authorization on the global plan on security, to
         install the alarms and comply with other obligations deriving from the
         permit.

2.       MPA must have a remedy plan in case of pollution to the ground, which
         must be filed for its approval to the environmental authorities.

3.       MPA must have operation handbooks located in different areas of the
         plant.

4.       MPA must file -prior to the commencment of its activities- a copy of
         the authorization issued by the Ministry of National Defense to store
         and use explosives.

5.       MPA must also file reports on the security audits performed in the
         project prior the initiation of its operations.

6.       MPA must inform to POFEPA within t15 days following the beginning of
         its works of having commenced activities.

7.       The authorization was issued to MPA and it is considered as "personal",
         therefore, should it is intended that the rights and obligations be
         transferred to a third party, MPA and the acquiror must obtain prior
         written authorization from the environmental authorities.

8.       Any act performed against that provided in the authorization shall be
         null and void.

9.       THE ENVIRONMENTAL AUTHORITIES MAY EVALUATE, AT ANY TIME, THE
         ENVIRONMENTAL IMPACT STUDY, AND ALSO REQUEST ADDITIONAL INFORMATION AND
         MAY, AT ALL TIMES CONFIRM, MODIFY, SUSPEND OR REVOKE THE AUTHORIZATION.

10.      The non compliance of any of the terms and conditions under which the
         authorization was granted or the project, as submitted, may derive in
         the invalidation of the invalidation of the authorization without
         prejudice of the penalties which may be applied under the Environmental
         Law and any other applicable legal provisions.

                                      K-3

<PAGE>

2.       OFFICIAL COMMUNICATION NUMBER:              D.O.O.DGOEIA 03854
         DATE OF ISSUANCE:                           June 13, 1997

PURPOSE:          Authorize -in a conditioned manner- the construction,
                  operation and maintenance of a tailings dam for the
                  Mining-Metallurgic project Paredones Amarillos.

TERMS:            MPA is authorized to build, operate and maintain a tailing dam
                  for the Paredones Amarillos project with a surface of 99.00
                  has. Within the area described therein.

                  Within 90 calendar days upon the receiving of the
                  authorization, MPA must file the information referred to in
                  said authorization.

                  MPA may initiate the construction of the tailings dam once the
                  Mining Authorities validate the document referred to in the
                  authorization.

                  This authorization may be assigned pursuant to the same terms
                  and conditions of the previous authorization number O.O.O.DGOE
                  IA- 03322.

3.       OFFICIAL COMMUNICATION NUMBER:              D.O.O.DGOEIA 07181
         DATE OF ISSUANCE:                           November 11, 1997

         PURPOSE:  Amend the authorization  number D.O.O.DGOEIA 03322,
                   authorizing the performance of the following activities.

         -        Disposal of tailings.

         -        Constructions of a Beneficiation Plant.

         -        Three pumping stations.

         AUTHORIZED AREA:  The new surface for the development of the project is
                           398-29-00 has.

         EXTENSIN OF TERM: The authorization D.O.O.DGOEIA 03322 is extended for
                           an additional term of 2 more years for the
                           restoration of the project.

NOTES:

         Within 3 months upon MPA received the resolution it should had filed
         -among other- the following documents.

         a)       Any instrument evidencing that the concessions forming part of
                  the project have been transferred to MPA.

                                      K-4

<PAGE>

         b)       Document evidencing that MPA has possession of the tenements
                  where the sanitary landfill and the so called "bancos
                  materiales" will be located, and the proper authorization
                  granted by the Municipality of La Paz, B,C,S,, to carry out
                  said works.

         MPA must also obtain the authorizations from the National Commission of
         Waters to exploit the wells of "La Cuenca de El Carrizal".

         EXTENSION OF TERM:         SHOULD MPA INTENDS TO TRANSFER THE RIGHTS
                                    AND OBLIGATIONS DERIVING FROM THESE
                                    AUTHORIZATIONS, SAID COMPANY MUST REQUEST A
                                    PRIOR WRITTEN APPROVAL FROM THE
                                    ENVIRONMENTAL AUTHORITIES.

                                      K-5<PAGE>

                                                                   EXHIBIT 10.17
                                    AGREEMENT

         THIS AGREEMENT ("Agreement") is effective as of October [7], 2002, by
and between Newmont USA Limited ("Newmont"), a Delaware corporation, doing
business as Newmont Mining Corporation; Newmont Capital Limited ("NCL"), a
Nevada corporation; Vista Gold Corporation ("Vista"), a Canadian corporation;
and Vista Nevada Corp. ("VNC"), a Nevada corporation.

                                    RECITALS

         A. Newmont leases certain unpatented mining claims pursuant to that
Lease dated October 1, 2001, as amended effective August 26, 2002 and August 29,
2002 ("Artemis Lease"), between Newmont Mining Corporation and Artemis
Exploration Company, a memorandum of which was recorded in the Elko County
Recorder's Office on September 3, 2002, at Book 2, Pages 31064-31068. Those
unpatented mining claims are more fully described in EXHIBIT 1 attached hereto,
and are referred to herein as the "Maverick Springs Property." Pursuant to
Section 1(c) of that letter agreement, dated August 30, 2002 between Newmont and
Vista, as amended (the "Letter Agreement"), the Artemis Lease was amended to
allow until November 15, 2002 to complete at least 6,400 feet of exploration
drilling on the Maverick Springs Property.

         B. NCL owns a partial interest in certain unpatented mining claims,
pursuant to that Mining Deed and Assignment dated November 24, 1993, a copy of
which was recorded in the official records of the Washoe County Recorder's
Office on December 3, 1993, as Document 1738757 at Book 3917, Pages 0951-0952,
and that Quitclaim Deed dated June 30, 2000, a copy of which was recorded in the
Washoe County Recorder's Office on August 11, 2000, as Document 2472552. Those
unpatented mining claims are more fully described in EXHIBIT 2 attached hereto,
and are referred to herein as the "Mountain View Property." NCL also holds a
leasehold interest and option in the Mountain View Property pursuant to that
Lease/Option Agreement dated June 30, 2000, as amended on April 16, 2001 and
June 6, 2002 ("Wittkopp Lease"), between Franco-Nevada Mining Corporation, Inc.,
and Raymond W. and Leslie A. Wittkopp, a memorandum of which was recorded in the
Washoe County Recorder's Office on August 11, 2000, as Document 2472553. The
Maverick Springs Property and the Mountain View Property are collectively
referred to herein as the "Newmont Property."

         C. Newmont and NCL desire to convey their interests in the Maverick
Springs Property and Mountain View Property and to assign their interests under
the Artemis Lease and Wittkopp Lease, and Vista and VNC desire that VNC acquire
those interests, pursuant to the terms set forth in this Agreement.

         WHEREFORE, in consideration of the mutual covenants contained in this
Agreement, and other valuable consideration, the receipt of which is hereby
acknowledged by the parties, Newmont, NCL, Vista and VNC agree as follows:

<PAGE>

         ARTICLE 1.  CLOSING

         1.1 CLOSING DATE. Newmont, NCL, Vista and VNC shall consummate and
close the transactions contemplated by Article 1 of this Agreement, on or before
October 7, 2002 ("Closing"), at Newmont's offices located at 1700 Lincoln
Street, Denver, Colorado.

         1.2 FAILURE TO CLOSE. In the event the parties fail to close the
transactions contemplated by Article 1 within the time-frame set forth in
Section 1.1, and unless otherwise agreed to in writing by the parties hereto,
this Agreement shall terminate and the parties shall have no further rights or
obligations pursuant to either this Agreement or the Letter Agreement.

         1.3 TRANSFER OF NEWMONT'S AND NCL'S INTERESTS. At closing, Newmont and
NCL will transfer their interests in the Newmont Property and the Leases to VNC
as follows:

          a. Newmont shall deliver to VNC an Assignment in the form of EXHIBIT 3
     hereto, transferring to VNC its interest in the Artemis Lease.

          b. NCL shall deliver to VNC an Assignment in the form of EXHIBIT 4
     hereto, transferring to VNC its interest in the Wittkopp Lease.

          c. NCL shall deliver to VNC a Quit Claim Deed in the form of EXHIBIT 5
     hereto, conveying to VNC its ownership interest in the Mountain View
     Property.

         1.4 CASH PAYMENT. At Closing, Vista will pay to Newmont (i) Three
Hundred Thousand Dollars ($300,000.00) in cash by certified check or wire
transfer ($250,000.00 for the Maverick Springs Property and $50,000.00 for the
Mountain View Property), and (ii) Thirty Seven Thousand Three Hundred Dollars
($37,300.00) in cash by certified check or wire transfer to reimburse Newmont
for the federal maintenance fees paid on the Newmont Property for the 2003
assessment year.

         1.5      SHARE TRANSFER.

          a. At Closing, Vista shall issue (i) to Newmont one hundred forty-one
     thousand, two hundred and forty-three (141,243) shares of common stock in
     Vista; and (ii) to NCL fifty-six thousand, four hundred and ninety-seven
     (56,497) shares of common stock in Vista.

          b. At Closing, Vista shall also issue to Newmont one hundred forty-one
     thousand, two hundred and forty-three (141,243) warrants; and (ii) to NCL
     fifty-six thousand, four hundred and ninety-seven (56,497) warrants, with
     each warrant to entitle

                                      -2-
<PAGE>

     the receiving party to purchase one share of common stock in Vista for four
     dollars and forty-three cents ($4.43) per share, exercisable for a period
     of two years after the date of Closing.

          c. The warrants and shares issued pursuant to this Section 1.5 and
     Section 1.7 below shall be subject to applicable statutory restrictions on
     trading when issued. Vista shall make best commercial efforts to (i)
     register all said shares, at its sole cost, so that they are free-trading
     within six months of the date of issuance, or (ii) obtain within 60 days of
     the date of issuance, at its sole cost, a satisfactory opinion of counsel
     acceptable to Newmont and NCL, stating that registration is not required or
     that exemptions from registration are available.

         1.6      ROYALTY DEEDS.

          a. At Closing, VNC will convey to Newmont a net smelter return royalty
     on mineral production from the Maverick Springs Property and the Maverick
     Springs Area of Interest (as defined in EXHIBIT 6) by delivering to Newmont
     a royalty deed in the form of EXHIBIT 7 to this Agreement.

          b. At Closing, VNC will convey to NCL a net smelter return royalty on
     mineral production from the Mountain View Property and the Mountain View
     Area of Interest (as defined in EXHIBIT 8), by delivering to NCL a royalty
     deed in the form of EXHIBIT 9 to this Agreement. These two royalty deeds
     are collectively referred to herein as the "Royalty Deeds."

         1.7      SUBSEQUENT SHARE TRANSFER.

          a. On the first anniversary of Closing, Vista shall issue to Newmont
     shares of common stock in Vista, the number of shares of which shall be
     determined by dividing Five Hundred Thousand Dollars ($500,000.00) by the
     weighted average closing price of such shares on the American Stock
     Exchange averaged over the 10-day trading period ending on the day before
     said first anniversary ("Weighted Average Price").

          b. On the first anniversary of Closing, Vista shall also issue to
     Newmont one warrant for each share issued under Section 1.7(a), with each
     warrant to entitle Newmont to purchase one share of common stock in Vista
     for 125% of the Weighted Average Price, exercisable for a period of two
     years from the first anniversary of Closing.

         ARTICLE 2.  WARRANTIES AND REPRESENTATIONS

         2.1      WARRANTIES AND REPRESENTATIONS.

          a. Newmont and NCL represent and warrant that (i) other than the
     Artemis Lease and Wittkopp Lease, they have not created any royalty
     obligation with respect to the Newmont Property; (ii) they have not
     encumbered, mortgaged or conveyed

                                      -3-
<PAGE>

     their interest in the Newmont Property; and (iii) they have not received
     any notice of default under the Artemis Lease or Wittkopp Lease, and, to
     the best of their knowledge, the Artemis Lease and Wittkopp Lease are in
     good standing.

          b. Each party represents and warrants to the other parties that it is
     in good standing under the laws of the jurisdiction in which it is
     incorporated, and that it has all the requisite power, right and authority
     to enter into this Agreement, and to perform its obligations under this
     Agreement, and to commit to this Agreement. The execution and delivery of
     this Agreement and the consummation of the transactions, indemnities and
     guarantees provided herein have been duly and validly authorized by all
     necessary corporate or company action on the part of each party.

         2.2 PROPERTY AS IS. Vista and VNC acknowledge that they are being given
full access to the Newmont Property for their due diligence review. Vista and
VNC acknowledge that portions of the Newmont Property are located within a
historic mining area and may have environmental and physical conditions related
to prior mineral exploration or mining activities, including, but not limited
to, adits, shafts, waste rock piles, roads and related facilities. Prior to
closing, Vista and VNC will investigate the Newmont Property, including the
environmental conditions on that property, to their satisfaction. VNC is
acquiring Newmont's and NCL's interests in the Newmont Property "as is" without
warranty of any kind as to the condition, suitability or usability of the
Newmont Property for any purpose. The parties intend that this "as is" provision
shall be effective as to the environmental condition of the Newmont Property,
and any and all common law or statutory claims with respect thereto. Upon
closing, Vista and VNC assume the risk of any environmental contamination,
hazardous substances and other conditions on or related to the Newmont Property.

         ARTICLE 3.  RIGHTS AND OBLIGATIONS OF THE PARTIES

         3.1      WORK COMMITMENT.

          a. Vista and VNC shall perform on the Maverick Springs Property (i) at
     least 20,000 feet of exploration drilling on or before the second
     anniversary of Closing, and (ii) subject to VNC's rights under Section 3.3
     below, at least an additional 30,000 feet of exploration drilling on or
     before the fourth anniversary of Closing. The obligation of Vista and VNC
     under Section 3.1(a)(i) is a firm commitment, and VNC may not exercise its
     rights under Section 3.3 below with respect to any part of the Maverick
     Springs Property or the Artemis Lease until after that drilling obligation
     has been satisfied.

          b. Vista and VNC shall perform on the Mountain View Property (i) at
     least 4,000 feet of exploration drilling on or before the first anniversary
     of Closing, and (ii) subject to VNC's rights under Section 3.3 below, at
     least an additional 4,000 feet of exploration drilling prior to the second
     anniversary of closing. The obligation of Vista and VNC under Section
     3.1(b)(i) is a firm commitment, and VNC may not exercise its

                                      -4-
<PAGE>

     rights under Section 3.3 below with respect to any part of the Mountain
     View Property or the Wittkopp Lease, until after that drilling obligation
     has been satisfied.

         3.2 PROPERTY AND LEASE MAINTENANCE. Subject to Section 3.3 below, Vista
and VNC shall make such payment and filings, conduct such assessment work and
satisfy all other obligations necessary to keep the Artemis Lease, Wittkopp
Lease and Newmont Property in good standing, including, but not limited to
payment of federal maintenance fees for the unpatented mining claims, satisfying
any federal and state filing requirements for maintaining unpatented mining
claims, and satisfying any Lease work commitments. Upon making any such payments
or filings, Vista or VNC shall promptly deliver to Newmont a copy of the
documents that were filed, and written evidence of any payment that was made. On
or before February 1 of each calendar year, Vista or VNC shall deliver to
Newmont a written report summarizing all work that Vista or VNC completed on the
Newmont Property during the previous calendar year and including all factual
data resulting therefrom. Vista and VNC shall be jointly and severally
responsible for the obligations under this Section 3.2.

         3.3 ABANDONMENT OF LEASES AND PROPERTY. VNC may terminate or abandon
its interests in the Newmont Property, the Artemis Lease and the Wittkopp Lease,
in whole or in part, only in accordance with the provisions of this Section 3.3.

          a. At any time after the second anniversary of Closing and after it
     completes at least 20,000 feet of drilling on the Maverick Springs
     Property, VNC may terminate the Artemis Lease, in whole or in part, in
     accordance with the terms thereof and the provisions of this Section 3.3.

          b. At any time after it completes at least 4,000 feet of exploration
     drilling on the Mountain View Property, VNC may terminate the Wittkopp
     Lease, in whole or in part, in accordance with the terms thereof and the
     provisions of this Section 3.3.

          c. Prior to terminating either the Artemis Lease or Wittkopp Lease or
     any portion thereof, or otherwise abandoning any part of the Newmont
     Property, within 90 years of the effective date of this Agreement, VNC
     shall notify Newmont of its intent to do so, and provide Newmont with all
     factual data relating to the subject property that has not previously been
     provided to Newmont. Newmont shall have 30 days from the delivery of such
     notice and data, or until 90 years from the effective date of this
     Agreement, whichever is sooner, to elect to have VNC's lease or ownership
     rights in the subject property transferred to it. VNC shall deliver to
     Newmont an assignment (and a quit claim deed, if VNC has ownership
     interests) transferring to Newmont, VNC's entire interest in the subject
     property, within 30 days of the delivery of Newmont's written notice
     electing to receive such property. At the time VNC delivers such assignment
     and/or quit claim deed, VNC shall have satisfied all obligations or
     requirements that have or will become due within 60 days of the date of
     delivery of the assignment and/or quit claim deed, necessary to keep the
     subject Lease interest and mining claims in good standing. If Newmont
     elects not to acquire such property or fails to respond to VNC's

                                      -5-
<PAGE>

     notice and data within 30 days, VNC shall be free to terminate the
     applicable Lease with respect to such property, and/or abandon such
     property. The applicability of the Royalty Deeds to any property VNC
     abandons shall be governed by Section 8 of the Royalty Deeds. Upon the
     transfer of any interests to Newmont under this Section 3.3, Vista and VNC
     shall promptly reclaim all disturbance caused by its activities on the
     subject property in accordance with applicable statutory and regulatory
     requirements, unless Newmont agrees in writing to assume such reclamation
     obligations, in which case, Newmont shall assume such obligations in
     writing, and take any other steps, such as posting a replacement bond,
     necessary to relieve Vista and VNC of the performance thereof. Vista's and
     VNC's obligation under Section 3.2 to maintain the Artemis Lease, Wittkopp
     Lease and Newmont Property in good standing shall continue until such time
     that VNC transfers its interest in such Leases and property to Newmont, or
     formally terminates its leasehold interest in such property pursuant to the
     terms of this Section. In the event Newmont reacquires any property
     pursuant to Sections 3.3 or 3.4, Newmont shall assume the risk of any
     environmental contamination, hazardous substances and other conditions on
     or related to the reacquired property, except for any that relates to or
     arises from Vista's or VNC's activities or operations.

         3.4      RIGHT OF FIRST OFFER.

          a. If, within 90 years of the effective date of this Agreement, VNC
     intends to transfer all or any part of its interest, including, but not
     limited to any royalty, in the Artemis Lease, Wittkopp Lease or Newmont
     Property ("Offered Property"), to any person or entity, except as provided
     in Section 3.4(b) below, it shall promptly notify Newmont in writing. This
     notice shall specifically identify the Offered Property and shall state the
     price and all other material terms and conditions of the intended transfer,
     which shall be for monetary consideration only. VNC shall include with such
     notice all factual data pertaining to the Offered Property, which was not
     previously delivered to Newmont. Newmont shall have 30 days from the date
     such notice is delivered or until 90 years from the effective date of this
     Agreement, whichever is sooner, to notify VNC whether it elects to acquire
     the Offered Property at the same price and on the same terms as set forth
     in the notice. If Newmont does elect to acquire the Offered Property, such
     closing shall occur within 30 days after notice of such election is
     delivered to VNC. If Newmont fails to deliver to Vista notice of its
     election to acquire the Offered Property within such 30 days, such failure
     shall be deemed an election to not acquire the Offered Property. If Newmont
     elects to not acquire the Offered Property, VNC shall have 180 days from
     the date it delivered its notice to Newmont to complete the transfer of the
     entire Offered Property to a third party at a price and on terms no less
     favorable to VNC than those set forth in its notice to Newmont. If VNC
     fails to complete the transfer of the entire Offered Property to a third
     party within that period, Newmont's right of first refusal in the Offered
     Property shall be revived. Any subsequent proposal by VNC to transfer the
     Offered Property, or any part thereof, shall be conducted in accordance
     with the procedures set forth in this Section. The obligations of this
     Section shall apply to VNC and any successor, including affiliates or any
     successor by merger. Newmont's rights under this Section 3.4(a) shall be
     subordinate to any rights of first refusal or

                                      -6-
<PAGE>

     preemptive right granted to a third-party under any joint venture
     referenced in Section 3.4(b)(iv) below.

          b. The provisions of Section 3.4(a) shall not apply to (i) any equity
     offering made by Vista or VNC, (ii) any full or partial sale of VNC made
     for purposes other than to circumvent Section 3.4(a), (iii) a transfer to
     an affiliate wholly owned by Vista or VNC, and (iv) entering into a joint
     venture to which VNC is a party, including a limited liability company in
     which VNC is a member.

         3.5      THE JOINT VENTURE OPTION.

          a. Within 30 days after the fourth anniversary date of Closing, Vista
     and VNC shall deliver to Newmont a written notice, which includes (i) all
     factual data relating to the Newmont Property, which was not already
     provided to Newmont, and (ii) a detailed written accounting of all
     expenditures made by Vista and/or VNC to acquire, explore and hold the
     Maverick Springs Property and the Mountain View Property (the
     "Expenditures"). The Expenditures shall include the fair market value of
     the shares delivered by Vista under Sections 1.5 and 1.7, which the parties
     agree, for purposes of this Section 3.5, have a value of $1,000,000.00 for
     the Maverick Springs Property and $200,000.00 for the Mountain View
     Property. Thereafter, Newmont shall have a one-time option to elect to
     enter into a joint venture with VNC that would cover the Maverick Springs
     Property, the Mountain View Property or both (the "Joint Venture Option").
     Newmont may elect to exercise the Joint Venture Option by delivering to VNC
     written notification within 60 days of delivery of Vista's and VNC's
     complete notice. During such 60 day period, Newmont shall have the right to
     review and audit Vista's and VNC's books and records with respect to their
     Expenditures.

          b. If Newmont elects to exercise the Joint Venture Option, Newmont and
     VNC shall negotiate and agree upon the terms of a joint venture agreement
     ("Joint Venture Agreement"), which will generally follow the form of Rocky
     Mountain Mineral Law Foundation, Model Form Mining Venture Agreement, Form
     5, and will include the following terms:

               (i) Newmont shall pay to VNC an amount equal to two hundred
          percent (200%) of the Expenditures (defined in Section 3.5 above) (the
          "Expenditures Payment") by certified check or wire transfer to VNC's
          account.

               (ii) Upon making the Expenditures Payment, Newmont shall acquire
          a fifty-one percent (51%) participating interest in the joint venture
          property, and shall be the manager of the joint venture, so long as it
          maintains a fifty percent (50%) or greater participating interest.

               (iii) VNC and Newmont shall be required to fund all joint venture
          costs and expenditures in proportion to each party's participating
          interest, provided that once VNC has contributed two million dollars
          ($2,000,000.00) in joint venture expenditures, including its share of
          management fees, Newmont would thereafter

                                      -7-
<PAGE>

          solely fund all joint venture expenditures, until completion of a
          feasibility study (as defined in EXHIBIT 10) that supports a decision
          by the joint venture to put the project into production ("Development
          Feasibility Study"). Once such decision is made, the parties shall
          again be required to fund future joint venture expenditures in
          proportion to their participating interests. VNC's contribution of 49%
          of all joint venture expenditures up to a maximum of two million
          dollars ($2,000,000.00), shall maintain VNC's 49% interest in the
          joint venture until completion of the Development Feasibility Study.
          For purposes of calculating the parties' participating interests in
          the joint venture and for calculation of dilution after completion of
          a Development Feasibility Study, VNC's basis in the joint venture
          shall be the greater of (1) VNC's actual contributions; or (2) 49% of
          the actual total expenditures made by the joint venture (both parties)
          until completion of the Development Feasibility Study. In the former
          case, Newmont's basis in the joint venture shall be the amount equal
          to VNC's basis multiplied by 51/49. In the latter case, Newmont's
          basis in the joint venture shall be 51% of the actual total
          expenditures made by the joint venture (both parties) until completion
          of the Development Feasibility Study.

               (iv) The manager of the joint venture shall earn a management fee
          from the joint venture of (i) ten percent (10%) of the joint venture
          exploration expenditures during exploration (except for invoices
          exceeding $50,000.00, in which case the fee would be five percent (5%)
          for the amount over $50,000.00), (ii) five percent (5%) of joint
          venture development expenses during development and (iii) seven
          dollars ($7.00) per ounce of gold produced from the joint venture
          property during production. After production commences, the management
          fee will be subject to adjustment to reflect the manager's actual
          costs, so that the manager makes neither a profit nor loss from being
          manager.

               (v) A management committee shall be formed, consisting of two
          representatives from each joint venture party. The management
          committee members shall have voting rights in proportion to the
          parties' respective participating interests. The manager shall present
          work programs and budgets to the management committee for approval. In
          the event of a tie vote, the manager shall have the deciding vote.

               (vi) Subject to Section 3.5(b)(iii), if either party elects not
          to contribute its proportionate share to an approved program and
          budget, once joint funding commences, such parties' participating
          interest shall be subject to straight-line dilution. If either party
          elects to contribute to an approved program and budget, but fails to
          make such contribution, the amount of dilution shall be twice the
          amount that would have occurred if the defaulting party had elected
          not to contribute. In the event either party's participating interest
          is diluted to below twenty percent (20%), it shall relinquish its
          participating interest to the other party, in return for a one percent
          net smelter returns royalty, as defined in the Royalty Deed. For the
          initial development program and budget, following the completion of a
          Development Feasibility Study, VNC shall have 180 days after
          management committee approval of such program and budget, to make its
          election whether to contribute and raise its share of the funds.

                                      -8-
<PAGE>

          c. If Newmont elects to exercise the Joint Venture Option, Newmont and
     VNC shall negotiate and enter into the Joint Venture Agreement within 90
     days of the date of delivery of Newmont's election notice.

          d. Upon execution of the Joint Venture Agreement, Newmont and/or NCL
     shall reconvey to VNC their interest in the Royalty Deeds with respect to
     that part of the Newmont Property that is subject to the Joint Venture
     Agreement.

         3.6 PREFERENTIAL PROCESSING RIGHT. VNC grants to Newmont a preferential
right to process any gold, silver or platinum group metals ("Precious Metals")
developed from or within the Newmont Property, the Maverick Springs Area of
Interest and the Mountain View Area of Interest, pursuant to the terms of this
Section. Prior to VNC commencing construction of a mine within any portion of
the Newmont Property or the Areas of Interest, which would involve milling or
the use of processing technology other than oxide heap leaching (including, but
not limited to, oxide milling for processing oxide ore, or pressure oxidation,
roasting, floatation or bioxidation for processing sulfide ore) (hereafter
"Processing"), VNC shall notify Newmont in writing, as soon as practicable, of
the intended production rates, timing and technology to be used. Newmont shall
have 60 days after the delivery of such notice, within which to notify VNC that
Newmont desires to negotiate with VNC for the use of Newmont's processing
facilities, or one or more of Newmont's proprietary (patented) processing
technologies to perform such Processing. If Newmont provides such notice to VNC,
the parties shall thereafter promptly meet and negotiate in good faith, the
terms pursuant to which Newmont would conduct such Processing. VNC shall be
under no obligation to use Newmont's technology or facilities unless the costs
are competitive with those that VNC would otherwise incur.

         3.7 INDEMNITIES. Vista and VNC shall fully indemnify, defend, release
and hold harmless Newmont, NCL, their affiliates and successors, and their
officers, directors, agents, and employees from and against all loss, costs,
penalties, expense, damage and liability (including, without limitation, loss
due to injury or death, reasonable attorneys' fees, expert fees and other
expenses incurred in defending against litigation or administrative actions,
either pending or threatened), arising out of, or relating to any claim or cause
of action relating in any way to conditions, operations or other activities,
whether known or unknown, at, or in connection with the Newmont Property,
including, but not limited to environmental conditions, regardless of whether
such conditions were created before or after the date of Closing, which arises
in whole or in part under any federal, state or local law, now existing or
hereafter enacted, adopted or amended, including, without limitation, any
statutory or common law governing liability to third parties for personal injury
or property damage. In the event Newmont reacquires any part of the Newmont
Property pursuant to Sections 3.4 or 3.5, Newmont shall provide to VNC an
indemnity following the terms of this Section 3.7 with respect to any conditions
on the reacquired property, except for those arising from or relating to Vista's
or VNC's activities or operations.

                                      -9-
<PAGE>

         3.8 SUBSEQUENT CONVEYANCE. In the event VNC conveys any interest in the
Newmont Property, the Artemis Lease or the Wittkopp Lease to any third party,
including but not limited to any affiliate or joint venturer (i) the conveyance
instrument shall expressly provide that the interest being conveyed is subject
to Newmont's and NCL's rights under this Agreement and the Royalty Deeds, and
(ii) the third party shall agree in writing with Newmont and NCL to be bound by
the provisions of this Agreement and any applicable Royalty Deeds.

         ARTICLE 4.  DISPUTE RESOLUTION

         4.1 RIGHTS UPON DEFAULT. In the event any party defaults on any one or
more of its obligations or covenants under this Agreement, each party shall have
all of the rights and remedies provided by law, including the right of specific
performance.

         4.2 ATTORNEYS FEES. In any litigation between the parties to this
Agreement or persons claiming under them resulting from, arising out of, or in
connection with this Agreement or the construction or enforcement thereof, the
substantially prevailing party or parties shall be entitled to recover from the
defaulting party or parties all reasonable costs, expenses, attorneys fees,
expert fees, and other costs of suit incurred by it in connection with such
litigation, including such costs, expenses and fees incurred prior to the
commencement of the litigation, in connection with any appeals, and in
collecting any final judgment entered therein. If a party or parties
substantially prevails on some aspects of such action, but not on others, the
court may apportion any award of costs and attorneys fees in such manner as it
deems equitable.

         ARTICLE 5.  GENERAL PROVISIONS

         5.1 NOTICE. All notices or other communications to either party shall
be in writing and shall be sufficiently given if (i) delivered in person, (ii)
sent by electronic communication, with confirmation sent by registered or
certified mail, return receipt requested, or (iii) sent by registered or
certified mail, return receipt requested. Subject to the following sentence, all
notices shall be effective and shall be deemed delivered (i) if by personal
delivery, on the date of delivery, (ii) if by electronic communication, on the
date of receipt of the electronic communication, and (iii) if by mail, on the
date of delivery as shown on the actual receipt. If the date of such delivery or
receipt is not a business day, the notice or other communication delivered or
received shall be effective on the next business day ("business day" means a
day, other than a Saturday, Sunday or statutory holiday observed by banks in the
jurisdiction in which the intended recipient of a notice or other communication
is situated.) A party may change its address from time to time by notice to the
other party as indicated above. All notices to Newmont shall be addressed to:

         Newmont USA Limited d/b/a Newmont Mining Corporation
         1700 Lincoln Street, Suite 2800
         Denver, CO  80203
         Attn:  Land Department
         Telecopier No:  (303) 837-5851

                                      -10-
<PAGE>

         With a copy to:
         Newmont Capital Limited
         427 Ridge Street, Suite C
         Reno, Nevada 89501
         Attn: Royalty Land Manager
         Telecopier No. (775) 784-8185

All notices to VNC shall be addressed to:

         Vista Nevada Corp.
         7961 Shaffer Parkway, Suite 5
         Littleton, Colorado 80127
         Attn:  Ronald J. (Jock) McGregor
         Telecopier No. (720) 981-1186

All notices to Vista shall be addressed to:

         Vista Gold Corp.
         7961 Shaffer Parkway, Suite 5
         Littleton, Colorado 80127
         Attn:  Ronald J. (Jock) McGregor
         Telecopier No. (720) 981-1186

         5.2 INUREMENT. All covenants, conditions, indemnities, limitations, and
provisions contained in this Agreement apply to, and are binding upon the
parties to this Agreement, their heirs, representatives, successors, and
assigns. The obligations of Vista and any Affiliate under Article 3 shall run
with the subject land.

         5.3      IMPLIED COVENANTS.  The only implied covenants in this
Agreement are those of good faith and fair dealing.

         5.4 WAIVER. No waiver of any provision of this Agreement, or waiver of
any breach of this Agreement, shall be effective unless the waiver is in writing
and is signed by the party against whom the waiver is claimed. No waiver of any
breach shall be deemed to be a waiver of any other subsequent breach.

         5.5 MODIFICATION. No modification, variation, or amendment of this
Agreement shall be effective unless it is in writing and signed by all parties
to this Agreement.

         5.6 ENTIRE AGREEMENT. This Agreement sets forth the entire agreement of
the parties with respect to the transactions contemplated herein and supercedes
any other agreement, representation, warranty, or undertaking, written or oral,
including the Letter Agreement.

                                      -11-
<PAGE>

         5.7 MEMORANDUM. A memorandum of this Agreement in the form attached as
EXHIBIT 11 shall be recorded in the records of Elko County, White Pine County
and Washoe County, Nevada, promptly after execution of this Agreement. This
Agreement shall not be recorded.

         5.8 CONFIDENTIALITY OF INFORMATION. Except for recording the
Assignments and Quit Claim Deed referenced in Section 1.3 above, the Royalty
Deeds and a Memorandum pursuant to Section 5.7 above, and as otherwise provided
in this Section 5.8, the terms and conditions of this Agreement shall be treated
by the parties as confidential, and no party shall reveal or otherwise disclose
such information to third parties without the prior written consent of the other
party. This restriction shall not apply to disclosures to any affiliate, to any
public or private financing agency or institution, securities regulatory
authority, to any contractors or subcontractors the parties may engage and to
employees or consultants of the parties, or to any third party to which a party
contemplates the transfer, sale, assignment, encumbrance or other disposition of
their interest in the Newmont Property, other property within the Area of
Interest or the royalty interest granted by the Royalty Deed, or with which a
party or its affiliate contemplates a merger, amalgamation or other corporate
reorganization, provided, however, that any such third party to whom disclosure
is made has a legitimate business need to know the disclosed information, and
shall first agree in writing to protect the confidential nature of such
information at least to the same extent as the parties are obligated under this
Section. In the event a party is required to disclose the terms of this
Agreement to any federal, state or local government, any court, agency or
department thereof, or any stock exchange or securities regulatory authority,
the party so required shall immediately notify the other party of such
requirement, and the proposed form and content of the disclosure. To the extent
legally permissible, such notice shall be delivered at least two business days
prior to the date of the disclosure. The non-disclosing party shall have the
right to review and comment upon the form and content of the disclosure and to
object to such disclosure to the entity seeking the information, and to seek
confidential treatment of that information by the receiving entity.

         5.9 FURTHER ASSURANCES. Each of the parties agrees that it shall take
from time to time such actions and execute such additional instruments as may be
reasonably necessary or convenient to implement and carry out the intent and
purpose of this Agreement.

         5.10 CONSTRUCTION. The section and paragraph headings contained in this
Agreement are for convenience only, and shall not be used in the construction of
this Agreement. The invalidity of any provision of this Agreement shall not
affect the enforceability of any other provision of this Agreement.

         5.11 CURRENCY. All references to dollars herein shall mean United
States dollars.

                                      -12-
<PAGE>

         5.12 GOVERNING LAW. This Agreement shall be governed by, interpreted
and enforced in accordance with the laws of the State of Nevada, without regard
to that State's conflicts of laws provisions.

         5.13 SURVIVAL OF TERMS AND CONDITIONS. The warranties, representations,
indemnities and covenants contained in this Agreement, shall survive closing and
the recording of any conveyance documents pursuant to this Agreement.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

NEWMONT USA LIMITED D/B/A
NEWMONT MINING CORPORATION

By: /S/ DONALD B. KARRAS
Name: Donald B. Karras
Title: Vice President

NEWMONT CAPITAL LIMITED

By: /S/ DAVID HARQUAIL
Name: David Harquail
Title: President

VISTA NEVADA CORP.

By: /S/ R.J. MCGREGOR
Name: R.J. McGregor
Title: President

VISTA GOLD CORPORATION

By: /S/ R.J. MCGREGOR
Name: R.J. McGregor
Title: President

                                      -13-
<PAGE>

                                    EXHIBIT 1
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                            MAVERICK SPRINGS PROPERTY

         That certain Mining Lease and Agreement dated October 1, 2001 by and
between Newmont Mining Corporation and Artemis Exploration Company, as amended,
and the following described unpatented mining claims situated in Elko County and
White Pine County, Nevada:

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #1                           968     784                        NMC - 754059
WILLOW #2                           968     785                        NMC - 754060
WILLOW #9                           968     792                        NMC - 754067
WILLOW #10                          968     793                        NMC - 754068
WILLOW #11                          968     794                        NMC - 754069
WILLOW #12                          968     795                        NMC - 754070
WILLOW #13                          968     796                        NMC - 754071
WILLOW #14                          968     797                        NMC - 754072
WILLOW #15                          968     798                        NMC - 754073
WILLOW #16                          968     799                        NMC - 754074
WILLOW #17                          968     800                        NMC - 754075
WILLOW #18                          968     801                        NMC - 754076
WILLOW #19                          968     802                        NMC - 754077
WILLOW #20                          968     803                        NMC - 754078
WILLOW #21                          968     804                        NMC - 754079
WILLOW #22                          968     805                        NMC - 754080
WILLOW #23                          968     806                        NMC - 754081
WILLOW #24                          968     807                        NMC - 754082
WILLOW #25                          968     808                        NMC - 754083
WILLOW #26                          968     809                        NMC - 754084
WILLOW #27                          968     810                        NMC - 754085
WILLOW #28                          968     811                        NMC - 754086
WILLOW #29                          968     812                        NMC - 754087
WILLOW #30                          968     813                        NMC - 754088
WILLOW #37                          968     814                        NMC - 754089
WILLOW #38                          968     815                        NMC - 754090
WILLOW #39                          968     816                        NMC - 754091
WILLOW #40                          968     817                        NMC - 754092
WILLOW #41                          968     818                        NMC - 754093
WILLOW #42                          968     819                        NMC - 754094
WILLOW #43                          968     820                        NMC - 754095
WILLOW #44                          968     821                        NMC - 754096
WILLOW #45                          968     822                        NMC - 754097
WILLOW #46                          968     823                        NMC - 754098
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #47                          968     824                        NMC - 754099
WILLOW #48                          968     825                        NMC - 754100
WILLOW #49                          968     826                        NMC - 754101
WILLOW #50                          968     827                        NMC - 754102
WILLOW #51                          968     828                        NMC - 754103
WILLOW #52                          968     829                        NMC - 754104
WILLOW #53                          968     830                        NMC - 754105
WILLOW #54                          968     831                        NMC - 754106
WILLOW 55                           1025    487                        NMC - 785303
WILLOW 56                           1025    488                        NMC - 785304
WILLOW 57                           1025    489                        NMC - 785305
WILLOW 63                           1025    495                        NMC - 785311
WILLOW 65                           1025    497                        NMC - 785313
WILLOW 66                           1025    498                        NMC - 785314
WILLOW 67                           1025    499                        NMC - 785315
WILLOW 68                           1025    500                        NMC - 785316
WILLOW 69                           1025    501                        NMC - 785317
WILLOW 70                           1025    502                        NMC - 785318
WILLOW 71                           1025    503                        NMC - 785319
MAVERICK #1                         968     832                        NMC - 754107
MAVERICK #3                         968     834                        NMC - 754109
MAVERICK #5                         968     836                        NMC - 754111
MAVERICK #7                         968     838                        NMC - 754113
MAVERICK #8                         968     839                        NMC - 754114
MAVERICK #9                         968     840                        NMC - 754115
MAVERICK #10                        968     841                        NMC - 754116
MAVERICK #11                        968     842                        NMC - 754117
MAVERICK #12                        968     843                        NMC - 754118
MAVERICK #13                        968     844                        NMC - 754119
MAVERICK #14                        968     845                        NMC - 754120
MAVERICK #15                        968     846                        NMC - 754121
MAVERICK #16                        968     847                        NMC - 754122
MAVERICK #17                        968     848                        NMC - 754123
MAVERICK #18                        968     849                        NMC - 754124
MAVERICK #39                        968     864                        NMC - 754140
MAVERICK #40                        968     865                        NMC - 754141
MAVERICK #41                        968     866                        NMC - 754142
MAVERICK #42                        968     867                        NMC - 754143
MAVERICK 524                        1025    475                        NMC - 785291
MAVERICK 526                        1025    477                        NMC - 785293
MAVERICK 528                        1025    479                        NMC - 785295
MAVERICK 529                        1025    480                        NMC - 785296
MAVERICK 530                        1025    481                        NMC - 785297
MAVERICK 531                        1025    482                        NMC - 785298
MAVERICK 67                         1       38907                      NMC - 826140
MAVERICK 68                         1       38908                      NMC - 826141
MAVERICK 69                         1       38909                      NMC - 826142
MAVERICK 70                         1       38910                      NMC - 826143
MAVERICK 71                         1       38911                      NMC - 826144
MAVERICK 72                         1       38912                      NMC - 826145
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                        <C>     <C>                        <C>
MAVERICK 73                1        38913                     NMC - 826146
MAVERICK 74                1        38914                     NMC - 826147
NMS 1 - NMS 94             1        43585 - 43640             NMC - 826738 - 826831
NMS 96                     1        43641                     NMC - 826832
NMC 98                     1        43642                     NMC - 826833
NMS 100                    1        43643                     NMC - 826834
NMS 102                    1        43644                     NMC - 826835
NMS 104                    1        43645                     NMC - 826836
NMS 106                    1        43646                     NMC - 826837
NMS 107 - NMS 166          1        43647 - 43706             NMC - 826838 - 826897
</TABLE>

                                      -3-
<PAGE>

                                    EXHIBIT 2
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                             MOUNTAIN VIEW PROPERTY

         That certain Lease/Option Agreement effective June 30, 2000, by and
between Raymond W. and Leslie A. Wittkopp, and Franco-Nevada Mining Corporation,
Inc., as amended, and the following described unpatented lode mining claims
situated in Washoe County, Nevada:

<TABLE>
<CAPTION>
                                       WASHOE COUNTY
----------------------------------------------------------------------------------------------
                                                                                BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE              DOCUMENT #        ("NMC")
----------------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
Jack 65                             1797    788               821306            253297
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                       WASHOE COUNTY
----------------------------------------------------------------------------------------------
                                                                                BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK     PAGE             DOCUMENT #        ("NMC")
----------------------------------------------------------------------------------------------
<S>                                <C>      <C>              <C>               <C>
Jack 66                             1797     789              821307            253298
Jack 67                             1797     790              821308            253299
Jack 68                             1797     791              821309            253300
Jack 69                             1797     792              821310            253301
Jack 70                             1797     793              821311            253302
Jack 71                             1797     794              821312            253303
Jack 72                             1797     795              821313            253304
Jack 73                             1797     796              821314            253305
Jack 74                             1797     797              821315            253306
Jack 75                             1797     798              821316            253307
Jack 76                             1797     799              821317            253308
Jack 78                             1797     801              821319            253310
Jack 79                             1797     802              821320            253311
Jack 80                             1797     803              821321            253312
Jack 81                             1797     804              821322            253313
Jack 82                             1797     805              821323            253314
Jack 83                             1797     806              821324            253315
Jack 84                             1797     807              821325            253316
Jack 85                             1797     808              821326            253317
Jack 86                             1797     809              821327            253318
Jack 87                             1797     810              821328            253319
Jack 88                             1797     811              821329            253320
Jack 89                             1797     812              821330            253321
Jack 90                             1797     813              821331            253322
Jack 91                             1797     814              821332            253323
Jack 92                             1797     815              821333            253324
Jack 93                             1797     816              821334            253325
Jack 94                             1797     817              821335            253326
Jack 95                             1797     818              821336            253327
Jack 96                             1797     819              821337            253328
Harlan #1                           1796     876              820863            253656
Lara #1                             1796     878              820865            253657
Rich #13                                                      2432283           814670
Rich #14                                                      2432284           814671
Rich #15                                                      2432285           814672
Rich #16                                                      2432286           814673
Rich #17                                                      2432287           814674
Rich #18                                                      2432288           814675
Rich #21                                                      2432289           814676
Rich #22                                                      2432290           814677
Rich #23                                                      2432291           814678
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
                                       WASHOE COUNTY
----------------------------------------------------------------------------------------------
                                                                                BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                    DOCUMENT #        ("NMC")
----------------------------------------------------------------------------------------------
<S>                                                          <C>               <C>
Rich #24                                                      2432292           814679
Rich #39                                                      2432293           814680
Rich 50                                                       2432298           814685
Rich 51                                                       2432299           814686
Rich 52                                                       2432300           814687
Jack 67A                                                      2516120           822239
Jack 77R                                                      2516119           822240
Rich 61                                                       2516129           822249
Rich 63                                                       2516131           822251
Rich 64                                                       2516132           822252
Rich 66                                                       2516134           822254
Rich 68                                                       2516136           822256
Rich 70                                                       2516138           822258
Rich 72                                                       2516140           822260
Rich 74                                                       2516142           822262
Rich 76                                                       2516144           822264
Rich 78                                                       2516146           822266
Rich 80                                                       2516148           822268
Rich 81                                                       2516149           822269
Rich 82                                                       2516150           822270
Rich 83                                                       2516151           822271
Rich 84                                                       2516152           822272
Rich 85                                                       2516153           822273
Rich 86                                                       2516154           822274
Rich 87                                                       2516155           822275
Rich 88                                                       2516156           822276
Rich 89                                                       2516157           822277
Rich 90                                                       2516158           822278
Rich 91                                                       2516159           822279
Rich 92                                                       2516160           822280
Rich 93                                                       2516161           822281
Rich 94                                                       2516162           822282
Rich 95                                                       2516163           822283
Rich 96                                                       2516164           822284
Rich 97                                                       2516165           822285
Rich 98                                                       2516166           822286
Rich 99                                                       2516167           822287
Rich 100                                                      2516168           822288
Rich 101                                                      2516169           822289
Rich 102                                                      2516170           822290
Rich 103                                                      2516171           822291
</TABLE>

                                      -3-
<PAGE>

<TABLE>
<CAPTION>
                                       WASHOE COUNTY
----------------------------------------------------------------------------------------------
                                                                                BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                    DOCUMENT #        ("NMC")
----------------------------------------------------------------------------------------------
<S>                                                          <C>               <C>
Rich 104                                                      2516172           822292
Rich 105                                                      2516173           822293
Rich 106                                                      2516174           822294
Rich 107                                                      2516175           822295
Rich 108                                                      2516176           822296
Rich 109                                                      2516177           822297
Rich 110                                                      2516178           822298
Rich 111                                                      2516179           822299
Rich 112                                                      2516180           822300
Rich 113                                                      2516181           822301
Rich 114                                                      2516182           822302
Rich 115                                                      2516183           822303
Rich 116                                                      2516184           822304
Rich 117                                                      2516185           822305
Rich 118                                                      2516186           822306
Rich 119                                                      2516187           822307
Rich 120                                                      2516188           822308
Rich 121                                                      2516189           822309
</TABLE>

                                      -4-

<PAGE>

                                    EXHIBIT 3
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                                   ASSIGNMENT

         This Assignment is effective as of October __, 2002, between Newmont
USA Limited d/b/a Newmont Mining Corporation, a Delaware corporation, whose
address is 1700 Lincoln Street, Suite 2800, Denver, Colorado 80203 ("Assignor"),
and Vista Nevada Corp., a Nevada corporation, whose address is 7961 Shaffer
Parkway, Suite 5, Littleton, Colorado 80127 ("Assignee").

                                    RECITALS

         A. Assignor leases certain unpatented mining claims pursuant to that
Lease dated October 1, 2001, as amended effective August 26, 2002, August 29,
2002, and September ____, 2002, between Assignor and Artemis Exploration
Company, a memorandum of which was recorded in the Elko County Recorder's Office
on September 3, 2002, at Book 2, Pages 31064-31068 (the "Lease"). Those
unpatented mining claims are more fully described in Exhibit A attached hereto.

         B. Pursuant to that purchase agreement dated October __, 2002, between
Assignor, Newmont Capital Limited, Vista Gold Corporation and Assignee
("Agreement"), Assignor has agreed to assign its interest in the Lease to
Assignee. Assignee has agreed to acquire such rights, subject to the terms of
the Agreement and this Assignment.

         Therefore, in consideration of the mutual covenants contained in this
Assignment, and other valuable consideration, the receipt and sufficiency of
which is hereby acknowledged by the parties, and subject to the terms of the
Agreement, Assignor and Assignee agree as follows:

                                    AGREEMENT

         1. As of the effective date of this Assignment, Assignor hereby
assigns, transfers and conveys to Assignee, its successors and assigns, all of
Assignor's right, title and interest in and to the Lease.

         2. Assignee assumes all of Assignor's duties, obligations and
liabilities in, to, and under, and agrees to fully perform and comply with all
covenants and terms of, the Lease.

         3. The obligations of Assignee under this Assignment are in addition to
Assignee's obligations and indemnities under the Agreement.

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Assignment as of the
date first indicated above.

NEWMONT USA LIMITED D/B/A
NEWMONT MINING CORPORATION

By:__________________________

Name:________________________

Title:_______________________

VISTA NEVADA CORP.

By:__________________________

Name:________________________

Title:_______________________

                                      -2-
<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Newmont USA Limited d/b/a Newmont Mining Corporation.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                              ----------------------------------
                                              Notary Public

                                              My Commission
                                              expires:__________________________

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Vista Nevada Corp.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                              ----------------------------------
                                              Notary Public

                                              My Commission
                                              expires:__________________________

                                      -3-
<PAGE>

                                    EXHIBIT A
                    TO ASSIGNMENT BETWEEN NEWMONT USA LIMITED
             D/B/A NEWMONT MINING CORPORATION AND VISTA NEVADA CORP.

                                    THE LEASE

     That  certain  Mining  Lease and  Agreement  dated  October  1, 2001 by and
between Newmont Mining Corporation and Artemis Exploration  Company, as amended,
covering the  following  described  unpatented  mining  claims  situated in Elko
County and White Pine County, Nevada:

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #1                           968     784                        NMC - 754059
WILLOW #2                           968     785                        NMC - 754060
WILLOW #9                           968     792                        NMC - 754067
WILLOW #10                          968     793                        NMC - 754068
WILLOW #11                          968     794                        NMC - 754069
WILLOW #12                          968     795                        NMC - 754070
WILLOW #13                          968     796                        NMC - 754071
WILLOW #14                          968     797                        NMC - 754072
WILLOW #15                          968     798                        NMC - 754073
WILLOW #16                          968     799                        NMC - 754074
WILLOW #17                          968     800                        NMC - 754075
WILLOW #18                          968     801                        NMC - 754076
WILLOW #19                          968     802                        NMC - 754077
WILLOW #20                          968     803                        NMC - 754078
WILLOW #21                          968     804                        NMC - 754079
WILLOW #22                          968     805                        NMC - 754080
WILLOW #23                          968     806                        NMC - 754081
WILLOW #24                          968     807                        NMC - 754082
WILLOW #25                          968     808                        NMC - 754083
WILLOW #26                          968     809                        NMC - 754084
WILLOW #27                          968     810                        NMC - 754085
WILLOW #28                          968     811                        NMC - 754086
WILLOW #29                          968     812                        NMC - 754087
WILLOW #30                          968     813                        NMC - 754088
WILLOW #37                          968     814                        NMC - 754089
WILLOW #38                          968     815                        NMC - 754090
WILLOW #39                          968     816                        NMC - 754091
WILLOW #40                          968     817                        NMC - 754092
WILLOW #41                          968     818                        NMC - 754093
WILLOW #42                          968     819                        NMC - 754094
WILLOW #43                          968     820                        NMC - 754095
WILLOW #44                          968     821                        NMC - 754096
WILLOW #45                          968     822                        NMC - 754097
WILLOW #46                          968     823                        NMC - 754098
WILLOW #47                          968     824                        NMC - 754099
WILLOW #48                          968     825                        NMC - 754100
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                       <C>
WILLOW #49                          968      826                       NMC - 754101
WILLOW #50                          968      827                       NMC - 754102
WILLOW #51                          968      828                       NMC - 754103
WILLOW #52                          968      829                       NMC - 754104
WILLOW #53                          968      830                       NMC - 754105
WILLOW #54                          968      831                       NMC - 754106
WILLOW 55                           1025     487                       NMC - 785303
WILLOW 56                           1025     488                       NMC - 785304
WILLOW 57                           1025     489                       NMC - 785305
WILLOW 63                           1025     495                       NMC - 785311
WILLOW 65                           1025     497                       NMC - 785313
WILLOW 66                           1025     498                       NMC - 785314
WILLOW 67                           1025     499                       NMC - 785315
WILLOW 68                           1025     500                       NMC - 785316
WILLOW 69                           1025     501                       NMC - 785317
WILLOW 70                           1025     502                       NMC - 785318
WILLOW 71                           1025     503                       NMC - 785319
MAVERICK #1                         968      832                       NMC - 754107
MAVERICK #3                         968      834                       NMC - 754109
MAVERICK #5                         968      836                       NMC - 754111
MAVERICK #7                         968      838                       NMC - 754113
MAVERICK #8                         968      839                       NMC - 754114
MAVERICK #9                         968      840                       NMC - 754115
MAVERICK #10                        968      841                       NMC - 754116
MAVERICK #11                        968      842                       NMC - 754117
MAVERICK #12                        968      843                       NMC - 754118
MAVERICK #13                        968      844                       NMC - 754119
MAVERICK #14                        968      845                       NMC - 754120
MAVERICK #15                        968      846                       NMC - 754121
MAVERICK #16                        968      847                       NMC - 754122
MAVERICK #17                        968      848                       NMC - 754123
MAVERICK #18                        968      849                       NMC - 754124
MAVERICK #39                        968      864                       NMC - 754140
MAVERICK #40                        968      865                       NMC - 754141
MAVERICK #41                        968      866                       NMC - 754142
MAVERICK #42                        968      867                       NMC - 754143
MAVERICK 524                        1025     475                       NMC - 785291
MAVERICK 526                        1025     477                       NMC - 785293
MAVERICK 528                        1025     479                       NMC - 785295
MAVERICK 529                        1025     480                       NMC - 785296
MAVERICK 530                        1025     481                       NMC - 785297
MAVERICK 531                        1025     482                       NMC - 785298
MAVERICK 67                         1        38907                     NMC - 826140
MAVERICK 68                         1        38908                     NMC - 826141
MAVERICK 69                         1        38909                     NMC - 826142
MAVERICK 70                         1        38910                     NMC - 826143
MAVERICK 71                         1        38911                     NMC - 826144
MAVERICK 72                         1        38912                     NMC - 826145
MAVERICK 73                         1        38913                     NMC - 826146
MAVERICK 74                         1        38914                     NMC - 826147
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                BOOK     PAGE             BLM SERIAL NUMBER
--------------------------------------------------------------------------------
<S>                       <C>      <C>               <C>
NMS 1 - NMS 94             1        43585 - 43640    NMC - 826738 - 826831
NMS 96                     1        43641            NMC - 826832
NMC 98                     1        43642            NMC - 826833
NMS 100                    1        43643            NMC - 826834
NMS 102                    1        43644            NMC - 826835
NMS 104                    1        43645            NMC - 826836
NMS 106                    1        43646            NMC - 826837
NMS 107 - NMS 166          1        43647 - 43706    NMC - 826838 - 826897
</TABLE>

                                      -3-
<PAGE>

                                    EXHIBIT 4
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                                   ASSIGNMENT

         This Assignment is effective as of ______________, 2002, between
Newmont Capital Limited, a Nevada corporation, whose address is 1700 Lincoln
Street, Denver, Colorado 80203 ("Assignor"), and Vista Nevada Corp., a Nevada
corporation, whose address is 7961 Shaffer Parkway, Suite 5, Littleton, Colorado
80127 ("Assignee").

                                    RECITALS

         A. Assignor leases certain unpatented mining claims pursuant to that
Lease/Option Agreement dated June 30, 2000, as amended on April 16, 2001 and
June 6, 2002, between Franco-Nevada Mining Corporation, Inc. and Raymond W. and
Leslie A. Wittkopp, a memorandum of which was recorded in the Washoe County
Recorder's Office on August 11, 2000, as Document 2472553 (the "Lease"). Those
unpatented mining claims are more fully described in Exhibit A hereto.

         B. Pursuant to that agreement dated October __, 2002, by and between
Assignor, Newmont USA Limited d/b/a Newmont Mining Corporation, Vista Gold
Corporation and Assignee, Assignor agreed to convey its interest in the Lease to
Assignee and Assignee agreed to acquire that interest, subject to the terms of
the Agreement and this Assignment.

         Therefore, in consideration of the mutual covenants contained in this
Assignment, and other valuable consideration, the receipt and sufficiency of
which is hereby acknowledged by the parties, and subject to the terms of the
Agreement, Assignor and Assignee agree as follows:

                                    AGREEMENT

         1. As of the effective date of this Assignment, Assignor hereby
assigns, transfers and conveys to Assignee, its successors and assigns, all of
Assignor's right, title, and interest in and to the Lease.

         2. Assignee assumes all of Assignor's duties, obligations, and
liabilities in, to, and under, and agrees to fully perform and comply with all
covenants and terms of, the Lease.

         3. The obligations of Assignee under this Assignment are in addition to
Assignee's obligations and indemnities under the Agreement.

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Assignment as of the
date first indicated above.

NEWMONT CAPITAL LIMITED

By:__________________________

Name:________________________

Title:_______________________

VISTA NEVADA CORP.

By:__________________________

Name:________________________

Title:_______________________

                                      -2-
<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
Newmont Capital Limited.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                              ----------------------------------
                                              Notary Public

                                              My Commission
                                              expires:__________________________

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Vista Nevada Corp.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                              ----------------------------------
                                              Notary Public

                                              My Commission
                                              expires:__________________________

                                      -3-
<PAGE>

                                    EXHIBIT A
                  TO ASSIGNMENT BETWEEN NEWMONT CAPITAL LIMITED
                             AND VISTA NEVADA CORP.

                                    THE LEASE

         That certain Lease/Option Agreement effective June 30, 2000, by and
between Raymond W. and Leslie A. Wittkopp, and Franco-Nevada Mining Corporation,
Inc., as amended, covering the following described unpatented lode mining claims
situated in Washoe County, Nevada:

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
-----------------------------------------------------------------------------------------
                                                                               BLM SERIAL
                                                                               NUMBER
CLAIM NAME                          BOOK    PAGE              DOCUMENT #       ("NMC")
-----------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
Jack 65                             1797    788               821306            253297
Jack 66                             1797    789               821307            253298
Jack 67                             1797    790               821308            253299
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                       WASHOE COUNTY
--------------------------------------------------------------------------------
                                                                      BLM SERIAL
                                                                      NUMBER
CLAIM NAME                 BOOK     PAGE             DOCUMENT #       ("NMC")
--------------------------------------------------------------------------------
<S>                       <C>      <C>              <C>               <C>
Jack 68                    1797     791              821309            253300
Jack 69                    1797     792              821310            253301
Jack 70                    1797     793              821311            253302
Jack 71                    1797     794              821312            253303
Jack 72                    1797     795              821313            253304
Jack 73                    1797     796              821314            253305
Jack 74                    1797     797              821315            253306
Jack 75                    1797     798              821316            253307
Jack 76                    1797     799              821317            253308
Jack 78                    1797     801              821319            253310
Jack 79                    1797     802              821320            253311
Jack 80                    1797     803              821321            253312
Jack 81                    1797     804              821322            253313
Jack 82                    1797     805              821323            253314
Jack 83                    1797     806              821324            253315
Jack 84                    1797     807              821325            253316
Jack 85                    1797     808              821326            253317
Jack 86                    1797     809              821327            253318
Jack 87                    1797     810              821328            253319
Jack 88                    1797     811              821329            253320
Jack 89                    1797     812              821330            253321
Jack 90                    1797     813              821331            253322
Jack 91                    1797     814              821332            253323
Jack 92                    1797     815              821333            253324
Jack 93                    1797     816              821334            253325
Jack 94                    1797     817              821335            253326
Jack 95                    1797     818              821336            253327
Jack 96                    1797     819              821337            253328
Harlan #1                  1796     876              820863            253656
Lara #1                    1796     878              820865            253657
Rich #13                                             2432283           814670
Rich #14                                             2432284           814671
Rich #15                                             2432285           814672
Rich #16                                             2432286           814673
Rich #17                                             2432287           814674
Rich #18                                             2432288           814675
Rich #21                                             2432289           814676
Rich #22                                             2432290           814677
Rich #23                                             2432291           814678
Rich #24                                             2432292           814679
Rich #39                                             2432293           814680
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
                                          WASHOE COUNTY
-------------------------------------------------------------------------------------------------
                                                                                       BLM SERIAL
                                                                                       NUMBER
CLAIM NAME                                                    DOCUMENT #               ("NMC")
-------------------------------------------------------------------------------------------------
<S>                                                          <C>                       <C>
Rich 50                                                       2432298                   814685
Rich 51                                                       2432299                   814686
Rich 52                                                       2432300                   814687
Jack 67A                                                      2516120                   822239
Jack 77R                                                      2516119                   822240
Rich 61                                                       2516129                   822249
Rich 63                                                       2516131                   822251
Rich 64                                                       2516132                   822252
Rich 66                                                       2516134                   822254
Rich 68                                                       2516136                   822256
Rich 70                                                       2516138                   822258
Rich 72                                                       2516140                   822260
Rich 74                                                       2516142                   822262
Rich 76                                                       2516144                   822264
Rich 78                                                       2516146                   822266
Rich 80                                                       2516148                   822268
Rich 81                                                       2516149                   822269
Rich 82                                                       2516150                   822270
Rich 83                                                       2516151                   822271
Rich 84                                                       2516152                   822272
Rich 85                                                       2516153                   822273
Rich 86                                                       2516154                   822274
Rich 87                                                       2516155                   822275
Rich 88                                                       2516156                   822276
Rich 89                                                       2516157                   822277
Rich 90                                                       2516158                   822278
Rich 91                                                       2516159                   822279
Rich 92                                                       2516160                   822280
Rich 93                                                       2516161                   822281
Rich 94                                                       2516162                   822282
Rich 95                                                       2516163                   822283
Rich 96                                                       2516164                   822284
Rich 97                                                       2516165                   822285
Rich 98                                                       2516166                   822286
Rich 99                                                       2516167                   822287
Rich 100                                                      2516168                   822288
Rich 101                                                      2516169                   822289
Rich 102                                                      2516170                   822290
Rich 103                                                      2516171                   822291
Rich 104                                                      2516172                   822292
Rich 105                                                      2516173                   822293
</TABLE>

                                      -3-
<PAGE>

<TABLE>
<CAPTION>
                                          WASHOE COUNTY
-------------------------------------------------------------------------------------------------
                                                                                       BLM SERIAL
                                                                                       NUMBER
CLAIM NAME                                                    DOCUMENT #               ("NMC")
-------------------------------------------------------------------------------------------------
<S>                                                          <C>                       <C>
Rich 106                                                      2516174                   822294
Rich 107                                                      2516175                   822295
Rich 108                                                      2516176                   822296
Rich 109                                                      2516177                   822297
Rich 110                                                      2516178                   822298
Rich 111                                                      2516179                   822299
Rich 112                                                      2516180                   822300
Rich 113                                                      2516181                   822301
Rich 114                                                      2516182                   822302
Rich 115                                                      2516183                   822303
Rich 116                                                      2516184                   822304
Rich 117                                                      2516185                   822305
Rich 118                                                      2516186                   822306
Rich 119                                                      2516187                   822307
Rich 120                                                      2516188                   822308
Rich 121                                                      2516189                   822309
</TABLE>

                                      -4-
<PAGE>

                                    EXHIBIT 5
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                                 QUIT CLAIM DEED

         This Quit Claim Deed is between Newmont Capital Limited, a Nevada
corporation, 1700 Lincoln Street, Suite 2800, Denver, Colorado 80203
("Grantor"), and Vista Nevada Corp., a Nevada corporation, 7961 Shaffer Parkway,
Suite 5, Littleton, Colorado 80127 ("Grantee").

         For valuable consideration, the sufficiency of which is hereby
acknowledged, Grantor conveys and quit claims to Grantee, Grantor's entire
ownership interest in those unpatented mining claims located in Washoe County,
Nevada, that are described in Exhibit A to this Quit Claim Deed.

         Dated this ___ day of October, 2002.

NEWMONT CAPITAL LIMITED

By:__________________________

Name:________________________

Title:_______________________

<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Newmont Capital Limited.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                              ----------------------------------
                                              Notary Public

                                              My Commission
                                              expires:__________________________

                                      -2-
<PAGE>

                                    EXHIBIT A
                           TO QUIT CLAIM DEED BETWEEN
                 NEWMONT CAPITAL LIMITED AND VISTA NEVADA CORP.

<TABLE>
<CAPTION>
                                          WASHOE COUNTY
------------------------------------------------------------------------------------------
                                                                                BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE              DOCUMENT #        ("NMC")
------------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
Jack 65                             1797    788               821306            253297
Jack 66                             1797    789               821307            253298
Jack 67                             1797    790               821308            253299
Jack 68                             1797    791               821309            253300
Jack 69                             1797    792               821310            253301
Jack 70                             1797    793               821311            253302
Jack 71                             1797    794               821312            253303
Jack 72                             1797    795               821313            253304
Jack 73                             1797    796               821314            253305
Jack 74                             1797    797               821315            253306
Jack 75                             1797    798               821316            253307
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                 WASHOE COUNTY
---------------------------------------------------------------------------------
                                                                       BLM SERIAL
                                                                       NUMBER
CLAIM NAME                 BOOK    PAGE              DOCUMENT #        ("NMC")
---------------------------------------------------------------------------------
<S>                       <C>     <C>               <C>               <C>
Jack 76                    1797     799              821317            253308
Jack 78                    1797     801              821319            253310
Jack 79                    1797     802              821320            253311
Jack 80                    1797     803              821321            253312
Jack 81                    1797     804              821322            253313
Jack 82                    1797     805              821323            253314
Jack 83                    1797     806              821324            253315
Jack 84                    1797     807              821325            253316
Jack 85                    1797     808              821326            253317
Jack 86                    1797     809              821327            253318
Jack 87                    1797     810              821328            253319
Jack 88                    1797     811              821329            253320
Jack 89                    1797     812              821330            253321
Jack 90                    1797     813              821331            253322
Jack 91                    1797     814              821332            253323
Jack 92                    1797     815              821333            253324
Jack 93                    1797     816              821334            253325
Jack 94                    1797     817              821335            253326
Jack 95                    1797     818              821336            253327
Jack 96                    1797     819              821337            253328
Harlan #1                  1796     876              820863            253656
Lara #1                    1796     878              820865            253657
Rich #13                                             2432283           814670
Rich #14                                             2432284           814671
Rich #15                                             2432285           814672
Rich #16                                             2432286           814673
Rich #17                                             2432287           814674
Rich #18                                             2432288           814675
Rich #21                                             2432289           814676
Rich #22                                             2432290           814677
Rich #23                                             2432291           814678
Rich #24                                             2432292           814679
Rich #39                                             2432293           814680
Rich 50                                              2432298           814685
Rich 51                                              2432299           814686
Rich 52                                              2432300           814687
Jack 67A                                             2516120           822239
Jack 77R                                             2516119           822240
Rich 61                                              2516129           822249
Rich 63                                              2516131           822251
Rich 64                                              2516132           822252
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
                                             WASHOE COUNTY
--------------------------------------------------------------------------------------------------
                                                                                        BLM SERIAL
                                                                                        NUMBER
CLAIM NAME                                                    DOCUMENT #                ("NMC")
--------------------------------------------------------------------------------------------------
<S>                                                          <C>                       <C>
Rich 66                                                       2516134                   822254
Rich 68                                                       2516136                   822256
Rich 70                                                       2516138                   822258
Rich 72                                                       2516140                   822260
Rich 74                                                       2516142                   822262
Rich 76                                                       2516144                   822264
Rich 78                                                       2516146                   822266
Rich 80                                                       2516148                   822268
Rich 81                                                       2516149                   822269
Rich 82                                                       2516150                   822270
Rich 83                                                       2516151                   822271
Rich 84                                                       2516152                   822272
Rich 85                                                       2516153                   822273
Rich 86                                                       2516154                   822274
Rich 87                                                       2516155                   822275
Rich 88                                                       2516156                   822276
Rich 89                                                       2516157                   822277
Rich 90                                                       2516158                   822278
Rich 91                                                       2516159                   822279
Rich 92                                                       2516160                   822280
Rich 93                                                       2516161                   822281
Rich 94                                                       2516162                   822282
Rich 95                                                       2516163                   822283
Rich 96                                                       2516164                   822284
Rich 97                                                       2516165                   822285
Rich 98                                                       2516166                   822286
Rich 99                                                       2516167                   822287
Rich 100                                                      2516168                   822288
Rich 101                                                      2516169                   822289
Rich 102                                                      2516170                   822290
Rich 103                                                      2516171                   822291
Rich 104                                                      2516172                   822292
Rich 105                                                      2516173                   822293
Rich 106                                                      2516174                   822294
Rich 107                                                      2516175                   822295
Rich 108                                                      2516176                   822296
Rich 109                                                      2516177                   822297
Rich 110                                                      2516178                   822298
Rich 111                                                      2516179                   822299
Rich 112                                                      2516180                   822300
Rich 113                                                      2516181                   822301
</TABLE>

                                      -3-
<PAGE>

<TABLE>
<CAPTION>
                                             WASHOE COUNTY
--------------------------------------------------------------------------------------------------
                                                                                        BLM SERIAL
                                                                                        NUMBER
CLAIM NAME                                                    DOCUMENT #                ("NMC")
--------------------------------------------------------------------------------------------------
<S>                                                          <C>                       <C>
Rich 114                                                      2516182                   822302
Rich 115                                                      2516183                   822303
Rich 116                                                      2516184                   822304
Rich 117                                                      2516185                   822305
Rich 118                                                      2516186                   822306
Rich 119                                                      2516187                   822307
Rich 120                                                      2516188                   822308
Rich 121                                                      2516189                   822309
</TABLE>

                                      -4-

<PAGE>

                                    EXHIBIT 6
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                        MAVERICK SPRINGS AREA OF INTEREST

     The Maverick Springs Area of Interest includes all land situated within one
mile from the exterior boundary of the following unpatented mining claims as
they were located as of October 1, 2001:

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #1                           968     784                        NMC - 754059
WILLOW #2                           968     785                        NMC - 754060
WILLOW #9                           968     792                        NMC - 754067
WILLOW #10                          968     793                        NMC - 754068
WILLOW #11                          968     794                        NMC - 754069
WILLOW #12                          968     795                        NMC - 754070
WILLOW #13                          968     796                        NMC - 754071
WILLOW #14                          968     797                        NMC - 754072
WILLOW #15                          968     798                        NMC - 754073
WILLOW #16                          968     799                        NMC - 754074
WILLOW #17                          968     800                        NMC - 754075
WILLOW #18                          968     801                        NMC - 754076
WILLOW #19                          968     802                        NMC - 754077
WILLOW #20                          968     803                        NMC - 754078
WILLOW #21                          968     804                        NMC - 754079
WILLOW #22                          968     805                        NMC - 754080
WILLOW #23                          968     806                        NMC - 754081
WILLOW #24                          968     807                        NMC - 754082
WILLOW #25                          968     808                        NMC - 754083
WILLOW #26                          968     809                        NMC - 754084
WILLOW #27                          968     810                        NMC - 754085
WILLOW #28                          968     811                        NMC - 754086
WILLOW #29                          968     812                        NMC - 754087
WILLOW #30                          968     813                        NMC - 754088
WILLOW #37                          968     814                        NMC - 754089
WILLOW #38                          968     815                        NMC - 754090
WILLOW #39                          968     816                        NMC - 754091
WILLOW #40                          968     817                        NMC - 754092
WILLOW #41                          968     818                        NMC - 754093
WILLOW #42                          968     819                        NMC - 754094
WILLOW #43                          968     820                        NMC - 754095
WILLOW #44                          968     821                        NMC - 754096
WILLOW #45                          968     822                        NMC - 754097
WILLOW #46                          968     823                        NMC - 754098
WILLOW #47                          968     824                        NMC - 754099
WILLOW #48                          968     825                        NMC - 754100
WILLOW #49                          968     826                        NMC - 754101
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #50                          968     827                        NMC - 754102
WILLOW #51                          968     828                        NMC - 754103
WILLOW #52                          968     829                        NMC - 754104
WILLOW #53                          968     830                        NMC - 754105
WILLOW #54                          968     831                        NMC - 754106
WILLOW 55                           1025    487                        NMC - 785303
WILLOW 56                           1025    488                        NMC - 785304
WILLOW 57                           1025    489                        NMC - 785305
WILLOW 63                           1025    495                        NMC - 785311
WILLOW 65                           1025    497                        NMC - 785313
WILLOW 66                           1025    498                        NMC - 785314
WILLOW 67                           1025    499                        NMC - 785315
WILLOW 68                           1025    500                        NMC - 785316
WILLOW 69                           1025    501                        NMC - 785317
WILLOW 70                           1025    502                        NMC - 785318
WILLOW 71                           1025    503                        NMC - 785319
MAVERICK #1                         968      832                       NMC - 754107
MAVERICK #3                         968      834                       NMC - 754109
MAVERICK #5                         968      836                       NMC - 754111
MAVERICK #7                         968      838                       NMC - 754113
MAVERICK #8                         968      839                       NMC - 754114
MAVERICK #9                         968      840                       NMC - 754115
MAVERICK #10                        968      841                       NMC - 754116
MAVERICK #11                        968      842                       NMC - 754117
MAVERICK #12                        968      843                       NMC - 754118
MAVERICK #13                        968      844                       NMC - 754119
MAVERICK #14                        968      845                       NMC - 754120
MAVERICK #15                        968      846                       NMC - 754121
MAVERICK #16                        968      847                       NMC - 754122
MAVERICK #17                        968      848                       NMC - 754123
MAVERICK #18                        968      849                       NMC - 754124
MAVERICK #39                        968      864                       NMC - 754140
MAVERICK #40                        968      865                       NMC - 754141
MAVERICK #41                        968      866                       NMC - 754142
MAVERICK #42                        968      867                       NMC - 754143
MAVERICK 524                        1025     475                       NMC - 785291
MAVERICK 526                        1025     477                       NMC - 785293
MAVERICK 528                        1025     479                       NMC - 785295
MAVERICK 529                        1025     480                       NMC - 785296
MAVERICK 530                        1025     481                       NMC - 785297
MAVERICK 531                        1025     482                       NMC - 785298
MAVERICK 67                         1        38907                     NMC - 826140
MAVERICK 68                         1        38908                     NMC - 826141
MAVERICK 69                         1        38909                     NMC - 826142
MAVERICK 70                         1        38910                     NMC - 826143
MAVERICK 71                         1        38911                     NMC - 826144
MAVERICK 72                         1        38912                     NMC - 826145
MAVERICK 73                         1        38913                     NMC - 826146
MAVERICK 74                         1        38914                     NMC - 826147
</TABLE>

                                       -2-

<PAGE>

                                    EXHIBIT 7
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                                  ROYALTY DEED

         This Royalty Deed (hereafter, the "Deed"), effective as of the __ day
of October, 2002, is by and between Vista Nevada Corp., a Nevada corporation,
whose address is 7961 Shaffer Parkway, Suite 5, Littleton, Colorado 80127
("Grantor") and Newmont USA Limited d/b/a Newmont Mining Corporation, a Delaware
corporation, whose address is 1700 Lincoln Street, Denver, Colorado 80203
("Newmont").

         Whereas, pursuant to that Agreement, dated October __, 2002, between
Grantor, Vista Gold Corporation, Newmont and Newmont Capital Limited (the
"Agreement"), Newmont has conveyed to Grantor, its interest in the Property
(defined below);

         Now, therefore, Grantor, for and in consideration of the sum of $10.00
lawful money of the United States of America, together with other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, has remised, released, sold, transferred, conveyed and
quitclaimed, and by these presents does remise, release, sell, transfer, convey
and forever quitclaim unto Newmont a production royalty (the "Production
Royalty") on production of Minerals from the Property. For purposes of this
Deed, the term "Mineral(s)" shall mean any and all metals, minerals and mineral
rights of whatever kind and nature in, under or upon the surface or subsurface
of the Property (including, without limitation metals, precious metals, base
metals, industrial minerals, gems, diamonds, commercially valuable rock,
aggregate, clays and diatomaceous earth, hydrocarbons, and oil and gas, and
other minerals which are mined, excavated, extracted or otherwise recovered).

         1. PROPERTY SUBJECT TO PRODUCTION ROYALTY. The Production Royalty shall
be a royalty interest in and a burden upon the property more particularly
described on EXHIBIT A to this Deed (the "Property").

         2. PRODUCTION ROYALTY. Grantor shall pay to Newmont a perpetual
Production Royalty in an amount equal to one and one half percent (1 1/2%) of
Net Smelter Returns (defined below) from the sale or other disposition of all
Minerals produced and sold from the Property, determined in accordance with the
provisions set forth in this Deed.

          (a) FOR PRECIOUS METALS. Net Smelter Returns, in the case of gold,
     silver, and platinum group metals ("Precious Metals"), shall be determined
     by multiplying (i) the gross number of troy ounces of Precious Metals
     contained in the production from the Property ("Monthly Production")
     delivered to the smelter, refiner, processor, purchaser or other recipient
     of such production, or an insurer as a result of casualty to such
     production (collectively, "Payor") during the preceding calendar month,

<PAGE>

     by (ii) for gold, the average of the London Bullion Market, Afternoon Fix,
     spot prices for the preceding calendar month and for all other Precious
     Metals, the average of the New York Commodities Exchange final spot prices
     for the preceding calendar month for the particular Mineral for which the
     price is being determined, and subtracting from the product of (i) and (ii)
     only the following if actually incurred:

               (A) charges imposed by the Payor for refining bullion from dore
          or concentrates of Precious Metals ("Beneficiated Precious Metals")
          produced by Grantor's final mill or other final processing plant;
          however, charges imposed by the Payor for smelting or refining of raw
          or crushed ore containing Precious Metals or other preliminarily
          processed Precious Metals shall not be subtracted in determining Net
          Smelter Returns;

               (B) penalty substance, assaying, and sampling charges imposed by
          the Payor for refining Beneficiated Precious Metals contained in such
          production; and

               (C) charges and costs, if any, for transportation and insurance
          of Beneficiated Precious Metals from Grantor's mill or other final
          processing plant to places where such Beneficiated Precious Metals are
          smelted, refined and/or sold or otherwise disposed of; and

In the event the refining of bullion from the Beneficiated Precious Metals
contained in such production is carried out in custom toll facilities owned or
controlled, in whole or in part, by Grantor, which facilities were not
constructed for the purpose of refining Beneficiated Precious Metals or other
Minerals from the Property, then charges, costs and penalties for such refining
shall mean the amount Grantor would have incurred if such refining were carried
out at facilities not owned or controlled by Grantor then offering comparable
services for comparable products on prevailing terms, but in no event greater
than actual costs incurred by Grantor with respect to such refining.

In the event Grantor receives insurance proceeds for loss of production, Grantor
shall pay to Newmont the Royalty percentage of any such insurance proceeds which
are received by Grantor for such loss of production.

          (b) FOR OTHER MINERALS. Net Smelter Returns, in the case of all
     Minerals other than Precious Metals and the beneficiated products thereof
     ("Other Minerals"), shall be determined by multiplying (i) the gross amount
     of the particular Other Mineral contained in the Monthly Production
     delivered to the Payor during the preceding calendar month by (ii) the
     average of the New York Commodities Exchange final daily spot prices for
     the preceding calendar month of the appropriate Other Mineral, and
     subtracting from the product of (i) and (ii) only the following if actually
     incurred:

               (A) charges imposed by the Payor for smelting, refining or
          processing Other Minerals contained in such production, but excluding
          any and all charges and costs related to Grantor's mills or other
          processing plants constructed for the purpose of milling or processing
          Other Minerals, in whole or in part;

                                      -2-
<PAGE>

               (B) penalty substance, assaying, and sampling charges imposed by
          the Payor for smelting, refining, or processing Other Minerals
          contained in such production, but excluding any and all charges and
          costs of or related to Grantor's mills or other processing plants
          constructed for the purpose of milling or processing Other Minerals,
          in whole or in part; and

               (C) charges and costs, if any, for transportation and insurance
          of Other Minerals and the beneficiated products thereof from Grantor's
          final mill or other final processing plant to places where such
          Beneficiated Precious Metals are smelted, refined and/or sold or
          otherwise disposed of.

In the event smelting, refining, or processing of Other Minerals are carried out
in custom toll facilities owned or controlled, in whole or in part, by Grantor,
which facilities were not constructed for the purpose of milling or processing
Other Minerals, then charges, costs and penalties for such smelting, refining or
processing shall mean the amount Grantor would have incurred if such smelting,
refining or processing were carried out at facilities not owned or controlled by
Grantor then offering comparable services for comparable products on prevailing
terms, but in no event greater than actual costs incurred by Grantor with
respect to such smelting and refining.

In the event Grantor receives insurance proceeds for loss of production, Grantor
shall pay to Newmont the Royalty percentage of any such insurance proceeds which
are received by Grantor for such loss of production.

          (c) PAYMENTS OF ROYALTY IN CASH OR IN KIND. Royalty payments shall be
     made to Newmont as follows:

               (i) ROYALTY IN KIND. Newmont may elect to receive its Royalty on
          Precious Metals from the Property "in cash" or "in kind" as refined
          bullion. The election may be exercised once per year on a calendar
          year basis during the life of production from the Property. Notice of
          election to receive the following year's Royalty for Precious Metals
          in cash or in kind shall be made in writing by Newmont and delivered
          to Grantor on or before November 1 of each year. In the event no
          written election is made, the Royalty for Precious Metals will
          continue to be paid as it is then being paid. As of the date of this
          Deed, Newmont elects to receive its Royalty on Precious Metals "in
          cash." Royalties on Other Minerals shall not be payable in kind.

                    (A) If Newmont elects to receive its Royalty for Precious
               Metals in kind, Newmont shall open a bullion storage account at
               each refinery or mint designated by Grantor as a possible
               recipient of refined bullion in which Newmont owns an interest.
               Newmont shall be solely responsible for all costs and liabilities
               associated with maintenance of such account or accounts, and
               Grantor shall not be required to bear any additional expense with
               respect to such in-kind payments.

                    (B) Royalty will be paid by the deposit of refined bullion
               into Newmont's account. On or before the 25th day of each
               calendar month following a calendar month during which production
               and sale or other disposition

                                      -3-
<PAGE>

               occurred, Grantor shall deliver written instructions to the mint
               or refinery, with a copy to Newmont, directing the mint or
               refinery to deliver refined bullion due to Newmont in respect of
               the Royalty, by crediting to Newmont's account the number of
               ounces of refined bullion for which Royalty is due; PROVIDED,
               HOWEVER, that the words "other disposition" as used in this Deed
               shall not include processing, milling, beneficiation or refining
               losses of Precious Metals. The number of ounces of refined
               bullion to be credited will be based upon Newmont's share of the
               previous month's production and sale or other disposition as
               calculated pursuant to the commingling provisions of Section 2(f)
               hereof.

                    (C) Royalty payable in kind on silver or platinum group
               metals shall be converted to the gold equivalent of such silver
               or platinum group metals by using the average monthly spot prices
               for Precious Metals described in Section 2(a).

                    (D) Title to refined bullion delivered to Newmont under this
               Deed shall pass to Newmont at the time such bullion is credited
               to Newmont's account at the mint or refinery.

                    (E) Newmont agrees to hold harmless Grantor from any
               liability imposed as a result of the election of Newmont to
               receive Royalty in kind and from any losses incurred as a result
               of Newmont's trading and hedging activities. Newmont assumes all
               responsibility for any shortages which occur as a result of
               Newmont's anticipation of credits to its account in advance of an
               actual deposit or credit to its account by a refiner or mint.

                    (F) When royalties are paid in kind, they will not reflect
               the costs deductible in calculating "Net Smelter Returns" under
               this Deed. Within 15 days of the receipt of a statement showing
               charges incurred by Grantor for transportation, smelting or other
               deductible costs, Newmont shall remit to Grantor full payment for
               such charges. If Newmont does not pay such charges when due,
               Grantor shall have the right, at its election, to deduct the gold
               equivalent of such charges from the ounces of gold bullion to be
               credited to Newmont in the following month.

                         (ii) IN CASH. If Newmont elects to receive its Royalty
                    for Precious Metals in cash, and as to Royalty payable on
                    Other Minerals, payments shall be payable on or before the
                    twenty-fifth (25th) day of the month following the calendar
                    month in which the Minerals subject to the Royalty were
                    shipped to the Payor by Grantor. For purposes of calculating
                    the cash amount due to Newmont, Precious Metals and Other
                    Minerals will be deemed to have been sold or otherwise
                    disposed of at the time refined production from Property is
                    delivered, made available, or credited to Grantor by a mint
                    or refiner. The price used for calculating the cash amount
                    due for Royalty on Precious Metals or Other Minerals shall
                    be determined in accordance with Section 2(a) and (b) as
                    applicable. Grantor shall make each Royalty payment to be
                    paid in cash by delivery of a check or draft payable to
                    Newmont and delivering the check to Grantor at its address
                    listed in Section 9(h). Newmont hereby waives and agrees to
                    hold Grantor

                                      -4-
<PAGE>

                    harmless against, and binds its successors and assigns to
                    waive and hold Grantor harmless against, any claim by any
                    other party to any Royalty paid by Grantor as herein
                    provided.

                         (iii) DETAILED STATEMENT. All Royalty payments or
                    credits shall be accompanied by a detailed statement
                    explaining the calculation thereof together with any
                    available settlement sheets from the Payor.

     (d) MONTHLY RECONCILIATION.

          (i) On or before the 25th day of the month, Grantor shall make an
     interim settlement based on the information then available of such Royalty,
     either in cash or in kind, whichever is applicable, by paying (A) not less
     than one hundred percent (100%) of the anticipated final settlement of
     Precious Metals in kind Royalty payments and (B) not less than ninety-five
     percent (95%) of the anticipated final settlement of cash Royalty payments.

          (ii) The parties recognize that a period of time exists between the
     production of ore, the production of dore or concentrates from ore, the
     production of refined or finished product from dore or concentrates, and
     the receipt of Payor's statements for refined or finished product. As a
     result, the payment of Royalty will not coincide exactly with the actual
     amount of refined or finished product produced from the Property for the
     previous month. Grantor will provide final reconciliation promptly after
     settlement is reached with the Payor for all lots sold or subject to other
     disposition in any particular month.

          (iii) In the event that Newmont has been underpaid for any provisional
     payment (whether in cash or in kind), Grantor shall pay the difference in
     cash by check and not in kind with such payment being made at the time of
     the final reconciliation. If Newmont has been overpaid in the previous
     calendar quarter, Newmont shall make a payment to Grantor of the difference
     by check. Reconciliation payments shall be made on the same basis as used
     for the payment in cash pursuant to Section 2(c)(ii).

     (e) HEDGING TRANSACTIONS. All profits and losses resulting from Grantor's
sales of Precious Metals, or Grantor's engaging in any commodity futures
trading, option trading, or metals trading, or any combination thereof, and any
other hedging transactions including trading transactions designed to avoid
losses and obtain possible gains due to metal price fluctuations (collectively,
"hedging transactions") are specifically excluded from Royalty calculations
pursuant to this Deed. All hedging transactions by Grantor and all profits or
losses associated therewith, if any, shall be solely for Grantor's account.

The Royalty payable on Precious Metals or Other Minerals subject to hedging
transactions shall be determined as follows:

          (i) AFFECTING PRECIOUS METALS. The amount of Royalty to be paid on all
     Precious Metals subject to hedging transactions by Grantor shall be
     determined in the same manner as provided in Section 2(a), with the
     understanding that

                                      -5-
<PAGE>

     the average monthly spot price shall be for the calendar month preceding
     the calendar month during which Precious Metals subject to hedging
     transactions are shipped by Grantor to the Payor.

          (ii) AFFECTING OTHER MINERALS. The amount of Royalty to be paid on all
     Other Minerals subject to hedging transactions by Grantor shall be
     determined in the same manner as provided in Section 2(b), with the
     understanding that the average monthly spot price shall be for the calendar
     month preceding the calendar month during which Other Minerals subject to
     hedging transactions are shipped to the Payor.

     (f) COMMINGLING. Grantor shall have the right to commingle Minerals from
the Property with minerals from other properties. Before any Precious Metals or
Other Minerals produced from the Property are commingled with minerals from
other properties, the Precious Metals or Other Minerals produced from the
Property shall be measured and sampled in accordance with sound mining and
metallurgical practices for moisture, metal, commercial minerals and other
appropriate content. Representative samples of the Precious Metals or Other
Minerals shall be retained by Grantor and assays (including moisture and penalty
substances) and other appropriate analyses of these samples shall be made before
commingling to determine gross metal content of Precious Metals or gross metal
or mineral content of Other Minerals. Grantor shall retain such analyses for a
reasonable amount of time, but not less than eighteen (18) months, after receipt
by Newmont of the Royalty paid with respect to such commingled Minerals from the
Property; and shall retain such samples taken from the Property for seven (7)
days after collection.

     (g) NO OBLIGATION TO MINE. Grantor shall have sole discretion to determine
the extent of its mining of the Property and the time or the times for
beginning, continuing or resuming mining operations with respect thereto.
Grantor shall have no obligation to Newmont or otherwise to mine any of the
Property, nor shall it have any obligation to diligently explore or develop the
Property.

     3. BOOKS, RECORDS, INSPECTIONS, CONFIDENTIALITY AND PRESS RELEASES.

     (a) Not later than March 15 following the end of each calendar year,
Grantor shall provide Newmont with an annual report of activities and operations
conducted with respect to the Property during the preceding calendar year. Such
annual report shall include details of: (i) the preceding year's activities with
respect to the Property; (ii) ore reserve data for the calendar year just ended;
and (iii) estimates of anticipated production and estimated remaining ore
reserves with respect to proposed activities for the Property for the current
calendar year. In addition, not more frequently than semi-annually, Newmont
shall have the right, upon reasonable notice to Grantor, to inspect and copy all
books, records, technical data, information and materials (the "Data")
pertaining to Grantor's activities with respect to the Property; provided that
such inspections shall not unreasonably interfere with Grantor's activities with
respect to the Property. Grantor makes no representations or warranties to
Newmont concerning any of the Data or any information contained in the annual
reports, and Newmont agrees that if it elects to rely on any such Data or
information, it does so at its sole risk.

                                      -6-
<PAGE>

     (b) Newmont shall have the right to audit the books and records pertaining
to production from the Property and contest payments of Royalty for 24 months
after receipt by Newmont of the payments to which such books and records
pertain. Such payments shall be deemed conclusively correct unless Newmont
objects to them in writing within 24 months after receipt thereof.

     (c) Newmont shall have the right, upon reasonable notice, to inspect the
facilities associated with the Property. Such inspection shall be at the sole
risk of Newmont, and Newmont shall indemnify Grantor from any liability caused
by Newmont's exercise of inspection rights.

     (d) Newmont shall not, without the prior written consent of Grantor, which
shall not be unreasonably withheld, knowingly disclose to any third party data
or information obtained pursuant to this Deed which is not generally available
to the public; PROVIDED, HOWEVER, Newmont may disclose data or information so
obtained without the consent of Grantor: (i) if required for compliance with
laws, rules, regulations or orders of a governmental agency or stock exchange;
(ii) to any of Newmont's contractors or consultants; (iii) to any third party to
whom Newmont, in good faith, anticipates selling or assigning Newmont's interest
in the Property; (iv) to a prospective lender; or (v) to a party which Newmont
or an affiliate contemplates a merger, amalgamation or other corporate
reorganization, provided however, that any such third party to whom disclosure
is made has a legitimate business need to know the disclosed information, and
shall first agree in writing to protect the confidential nature of such
information to the same extent Newmont is obligated under this subsection.

     (e) Subject to its rights and obligations under Section 3(d), Newmont shall
not issue any press releases pertaining to the Property except upon giving
Grantor three (3) days advance written notice of the contents thereof, and
Newmont shall make any reasonable changes to such proposed press releases
requested by Grantor. Newmont shall not, without Grantor's consent, issue any
press release that implies or infers that Grantor endorses or joins in Newmont's
statements or representations contained in any press release.

     4. RECORDS AND AUDITS. Grantor's records of all mining and milling
operations on the Property, and its records with respect to commingling of
production from the Property, shall be available for Newmont's or its authorized
agents' inspection and/or audit upon reasonable advance notice and during normal
business hours. If any such audit or inspection reveals that Royalty payments
for any calendar year are underpaid by more than five percent, Grantor shall
reimburse Newmont for its reasonable costs incurred in such audit or inspection.
Newmont shall be entitled to enter the mine workings and structures on the
Property at reasonable times upon reasonable advance notice for inspection
thereof, but Newmont shall so enter at its own risk and shall indemnify and hold
Grantor and its affiliates harmless against and from any and all loss, costs,
damage, liability and expense (including but not limited to reasonable
attorneys' fees and costs) by reason of injury to Newmont or its agents or
representatives or damage to or destruction of any property of Newmont or its
agents or representatives while on the

                                      -7-
<PAGE>

Property on or in such mine workings and structures, unless such injury, damage,
or destruction is a result, in whole or in part, of the negligence of Grantor.

     5. NEW RESOURCES OR RESERVES. If Grantor establishes a mineral resource or
mineral reserve on any of the Property, Grantor shall provide to Newmont the
amount of such resource or reserve as soon as practicable after Grantor makes a
public declaration with respect to the establishment thereof

     6. COMPLIANCE WITH LAW. Grantor shall at all times comply with all
applicable federal, provincial, and local laws, statutes, rules, regulations,
permits, ordinances, certificates, licenses and other regulatory requirements,
policies and guidelines relating to operations and activities on or with respect
to the Property; PROVIDED, HOWEVER, Grantor shall have the right to contest any
of the same if such contest does not jeopardize the Property or Newmont's rights
thereto or under this Deed.

     7. STOCKPILING AND TAILINGS. All tailings, residues, waste rock, spoiled
leach materials, and other materials (collectively "Materials") resulting from
Grantor's operations and activities with respect to the Property shall be the
sole property of Grantor, but shall remain subject to the Royalty (calculated
and paid in accordance with the terms of this Deed) should the Materials be
processed or reprocessed, as the case may be, in the future and result in the
production, sale or other disposition of Precious Metals or Other Minerals.
Notwithstanding the foregoing, Grantor shall have the right to dispose of any or
all such Materials and to commingle the same with other minerals from other
properties. In the event Materials from the Property are processed or
reprocessed, as the case may be, and regardless of where such processing or
reprocessing occurs, the Royalty payable thereon under this Deed shall be
determined on a pro rata basis as determined by using the best engineering and
technical practices then available.

     8. REAL PROPERTY INTEREST AND RELINQUISHMENT OF PROPERTY. The Net Smelter
Return Royalty shall attach to any amendments, relocations or conversions of any
mining claims or leases comprising the Property, or to any renewals or
extensions of leases thereof. The Net Smelter Return Royalty shall be a real
property interest that runs with the Property and shall be applicable to Grantor
and its successors and assigns of the Property. If the Grantor surrenders or
relinquishes any of the Property, such properties shall no longer be part of the
Property, provided however; if Grantor reacquires any such properties within a
period of five years after the effective date of relinquishment or abandonment,
such reacquired properties shall be included in the Property from and after the
date of such reacquisition.

     9. GENERAL PROVISIONS.

          (a) The parties promptly shall execute all such further instruments
     and documents and do all such further actions as may be necessary to
     effectuate the purposes of this Deed.

                                      -8-
<PAGE>

          (b) All covenants, conditions and terms of this Deed shall be of
     benefit to the parties and run as a covenant with the Property and shall
     bind and inure to the benefit of the parties hereto and their respective
     assigns and successors.

          (c) This Deed shall not be construed to create, expressly or by
     implication, a joint venture, mining partnership, commercial partnership,
     or other partnership relationship between Grantor and Newmont.

          (d) This Deed may not be modified orally, but only by written
     agreement executed by Grantor and Newmont.

          (e) Time is of the essence in this Deed.

          (f) This Deed is to be governed by and construed under the laws of the
     State of Nevada.

          (g) As used in this Deed, the term "Newmont" shall include all of
     Newmont's successors-in-interest, including without limitation assignees,
     partners, joint venture partners, lessees, and when applicable mortgagees
     and affiliated companies having or claiming an interest in the Property. As
     used in this Deed, the term "Grantor" shall include all of Grantor's
     successors-in-interest, including without limitation assignees, partners,
     joint venture partners, lessees, and when applicable mortgagees and
     affiliated companies having or claiming an interest in the Property. As
     used in this Deed, the term "Party" or "Parties" shall mean one or both, as
     the case may be, of Grantor and Newmont.

          (h) Assignment of Property. Grantor shall be free to convey, transfer,
     assign, abandon or encumber all or any portion of its interest in the
     Property only in accordance with the terms of the Agreement, provided that
     in the event of any such conveyance, transfer or assignment, it shall
     require the party or parties acquiring such interest to assume in a written
     agreement with Newmont the obligations of this Deed in respect of such
     interests, and thereupon it shall be relieved of all liability under this
     Deed as to such interest in the Property, except for liabilities existing
     on the date of such conveyance, transfer, or assignment.

          (i) Any notice or other correspondence required or permitted hereunder
     shall be deemed to have been property given or delivered when made in
     writing and hand delivered to the party to whom directed, or when sent by
     United States certified mail, electronic facsimile transmission, or Western
     Union telegraph, with all necessary postage or charges fully prepaid,
     return receipt requested (or in the case of a facsimile or telegram,
     confirmation of delivery), and addressed to the party to whom directed at
     the following address:

                                      -9-
<PAGE>

                  Grantor:

                           Vista Nevada Corp.
                           7961 Shaffer Parkway, Suite 5
                           Littleton, Colorado 80127
                           Attention:   Ronald J. (Jock) McGregor
                           Facsimile:   720/981-1186

                  Newmont:

                           Newmont USA Limited d/b/a
                           Newmont Mining Corporation
                           1700 Lincoln Street
                           Denver, Colorado 80203
                           Attention:   Land Department
                           Facsimile:   303/837-5851

Either party hereto may change its address for the purpose of notices or
communications hereunder by furnishing notice thereof to the other party in
compliance with this Section.

         This Deed contains the entire agreement between Grantor and Newmont
with respect to the subject matter hereof. Wherefore, this Deed is executed and
delivered effective on the day and year above written.

                                           GRANTOR:

                                           Vista Nevada Corp.
                                           a Nevada corporation

                                           By:__________________________________

                                              Name:_____________________________

                                              Title:____________________________

                                           NEWMONT:

                                           Newmont USA Limited d/b/a
                                           Newmont Mining Corporation,
                                           a Delaware corporation

                                           By:__________________________________

                                              Name:_____________________________

                                              Title:____________________________

                                      -10-
<PAGE>

                                      -11-
<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Vista Nevada Corp.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                           -------------------------------------
                                           Notary Public

                                           My Commission
                                           expires:_____________________________

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

         This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Newmont USA Limited, d/b/a Newmont Mining Corporation.

         In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                           -------------------------------------
                                           Notary Public

                                           My Commission
                                           expires:_____________________________

                                      -12-
<PAGE>

                                    EXHIBIT A
                   TO ROYALTY DEED BETWEEN VISTA NEVADA CORP.
            AND NEWMONT USA LIMITED D/B/A NEWMONT MINING CORPORATION

                                  THE PROPERTY

     1.  MAVERICK SPRINGS PROPERTY

  The following described unpatented mining claims situated in Elko County and
White Pine County, Nevada:

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #1                           968     784                        NMC - 754059
WILLOW #2                           968     785                        NMC - 754060
WILLOW #9                           968     792                        NMC - 754067
WILLOW #10                          968     793                        NMC - 754068
WILLOW #11                          968     794                        NMC - 754069
WILLOW #12                          968     795                        NMC - 754070
WILLOW #13                          968     796                        NMC - 754071
WILLOW #14                          968     797                        NMC - 754072
WILLOW #15                          968     798                        NMC - 754073
WILLOW #16                          968     799                        NMC - 754074
WILLOW #17                          968     800                        NMC - 754075
WILLOW #18                          968     801                        NMC - 754076
WILLOW #19                          968     802                        NMC - 754077
WILLOW #20                          968     803                        NMC - 754078
WILLOW #21                          968     804                        NMC - 754079
WILLOW #22                          968     805                        NMC - 754080
WILLOW #23                          968     806                        NMC - 754081
WILLOW #24                          968     807                        NMC - 754082
WILLOW #25                          968     808                        NMC - 754083
WILLOW #26                          968     809                        NMC - 754084
WILLOW #27                          968     810                        NMC - 754085
WILLOW #28                          968     811                        NMC - 754086
WILLOW #29                          968     812                        NMC - 754087
WILLOW #30                          968     813                        NMC - 754088
WILLOW #37                          968     814                        NMC - 754089
WILLOW #38                          968     815                        NMC - 754090
WILLOW #39                          968     816                        NMC - 754091
WILLOW #40                          968     817                        NMC - 754092
WILLOW #41                          968     818                        NMC - 754093
WILLOW #42                          968     819                        NMC - 754094
WILLOW #43                          968     820                        NMC - 754095
WILLOW #44                          968     821                        NMC - 754096
WILLOW #45                          968     822                        NMC - 754097
WILLOW #46                          968     823                        NMC - 754098
WILLOW #47                          968     824                        NMC - 754099
WILLOW #48                          968     825                        NMC - 754100
WILLOW #49                          968     826                        NMC - 754101
WILLOW #50                          968     827                        NMC - 754102
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #51                          968     828                        NMC - 754103
WILLOW #52                          968     829                        NMC - 754104
WILLOW #53                          968     830                        NMC - 754105
WILLOW #54                          968     831                        NMC - 754106
WILLOW 55                           1025    487                        NMC - 785303
WILLOW 56                           1025    488                        NMC - 785304
WILLOW 57                           1025    489                        NMC - 785305
WILLOW 63                           1025    495                        NMC - 785311
WILLOW 65                           1025    497                        NMC - 785313
WILLOW 66                           1025    498                        NMC - 785314
WILLOW 67                           1025    499                        NMC - 785315
WILLOW 68                           1025    500                        NMC - 785316
WILLOW 69                           1025    501                        NMC - 785317
WILLOW 70                           1025    502                        NMC - 785318
WILLOW 71                           1025    503                        NMC - 785319
MAVERICK #1                         968      832                       NMC - 754107
MAVERICK #3                         968      834                       NMC - 754109
MAVERICK #5                         968      836                       NMC - 754111
MAVERICK #7                         968      838                       NMC - 754113
MAVERICK #8                         968      839                       NMC - 754114
MAVERICK #9                         968      840                       NMC - 754115
MAVERICK #10                        968      841                       NMC - 754116
MAVERICK #11                        968      842                       NMC - 754117
MAVERICK #12                        968      843                       NMC - 754118
MAVERICK #13                        968      844                       NMC - 754119
MAVERICK #14                        968      845                       NMC - 754120
MAVERICK #15                        968      846                       NMC - 754121
MAVERICK #16                        968      847                       NMC - 754122
MAVERICK #17                        968      848                       NMC - 754123
MAVERICK #18                        968      849                       NMC - 754124
MAVERICK #39                        968      864                       NMC - 754140
MAVERICK #40                        968      865                       NMC - 754141
MAVERICK #41                        968      866                       NMC - 754142
MAVERICK #42                        968      867                       NMC - 754143
MAVERICK 524                        1025     475                       NMC - 785291
MAVERICK 526                        1025     477                       NMC - 785293
MAVERICK 528                        1025     479                       NMC - 785295
MAVERICK 529                        1025     480                       NMC - 785296
MAVERICK 530                        1025     481                       NMC - 785297
MAVERICK 531                        1025     482                       NMC - 785298
MAVERICK 67                         1        38907                     NMC - 826140
MAVERICK 68                         1        38908                     NMC - 826141
MAVERICK 69                         1        38909                     NMC - 826142
MAVERICK 70                         1        38910                     NMC - 826143
MAVERICK 71                         1        38911                     NMC - 826144
MAVERICK 72                         1        38912                     NMC - 826145
MAVERICK 73                         1        38913                     NMC - 826146
MAVERICK 74                         1        38914                     NMC - 826147
NMS 1 - NMS 94                      1        43585 - 43640             NMC - 826738 - 826831
</TABLE>

                                      -2-

<PAGE>

<TABLE>
<CAPTION>
CLAIM NAME                 BOOK    PAGE                       BLM SERIAL NUMBER
------------------------------------------------------------------------------------
<S>                        <C>     <C>                        <C>
NMS 96                     1        43641                     NMC - 826832
NMC 98                     1        43642                     NMC - 826833
NMS 100                    1        43643                     NMC - 826834
NMS 102                    1        43644                     NMC - 826835
NMS 104                    1        43645                     NMC - 826836
NMS 106                    1        43646                     NMC - 826837
NMS 107 - NMS 166          1        43647 - 43706             NMC - 826838 - 826897
</TABLE>

         2. All land situated within one mile from the exterior boundary of the
following unpatented mining claims as they were located as of October 1, 2001:

<TABLE>
<CAPTION>
CLAIM NAME                 BOOK    PAGE                       BLM SERIAL NUMBER
------------------------------------------------------------------------------------
<S>                        <C>     <C>                        <C>
WILLOW #1                  968     784                        NMC - 754059
WILLOW #2                  968     785                        NMC - 754060
WILLOW #9                  968     792                        NMC - 754067
WILLOW #10                 968     793                        NMC - 754068
WILLOW #11                 968     794                        NMC - 754069
WILLOW #12                 968     795                        NMC - 754070
WILLOW #13                 968     796                        NMC - 754071
WILLOW #14                 968     797                        NMC - 754072
WILLOW #15                 968     798                        NMC - 754073
WILLOW #16                 968     799                        NMC - 754074
WILLOW #17                 968     800                        NMC - 754075
WILLOW #18                 968     801                        NMC - 754076
WILLOW #19                 968     802                        NMC - 754077
WILLOW #20                 968     803                        NMC - 754078
WILLOW #21                 968     804                        NMC - 754079
WILLOW #22                 968     805                        NMC - 754080
WILLOW #23                 968     806                        NMC - 754081
WILLOW #24                 968     807                        NMC - 754082
WILLOW #25                 968     808                        NMC - 754083
WILLOW #26                 968     809                        NMC - 754084
WILLOW #27                 968     810                        NMC - 754085
WILLOW #28                 968     811                        NMC - 754086
WILLOW #29                 968     812                        NMC - 754087
WILLOW #30                 968     813                        NMC - 754088
WILLOW #37                 968     814                        NMC - 754089
WILLOW #38                 968     815                        NMC - 754090
WILLOW #39                 968     816                        NMC - 754091
WILLOW #40                 968     817                        NMC - 754092
WILLOW #41                 968     818                        NMC - 754093
WILLOW #42                 968     819                        NMC - 754094
WILLOW #43                 968     820                        NMC - 754095
WILLOW #44                 968     821                        NMC - 754096
WILLOW #45                 968     822                        NMC - 754097
WILLOW #46                 968     823                        NMC - 754098
WILLOW #47                 968     824                        NMC - 754099
WILLOW #48                 968     825                        NMC - 754100
WILLOW #49                 968     826                        NMC - 754101
</TABLE>

                                      -3-
<PAGE>

<TABLE>
<CAPTION>
CLAIM  NAME                         BOOK    PAGE                       BLM SERIAL NUMBER
----------------------------------------------------------------------------------------
<S>                                 <C>     <C>                        <C>
WILLOW #50                          968     827                        NMC - 754102
WILLOW #51                          968     828                        NMC - 754103
WILLOW #52                          968     829                        NMC - 754104
WILLOW #53                          968     830                        NMC - 754105
WILLOW #54                          968     831                        NMC - 754106
WILLOW 55                           1025    487                        NMC - 785303
WILLOW 56                           1025    488                        NMC - 785304
WILLOW 57                           1025    489                        NMC - 785305
WILLOW 63                           1025    495                        NMC - 785311
WILLOW 65                           1025    497                        NMC - 785313
WILLOW 66                           1025    498                        NMC - 785314
WILLOW 67                           1025    499                        NMC - 785315
WILLOW 68                           1025    500                        NMC - 785316
WILLOW 69                           1025    501                        NMC - 785317
WILLOW 70                           1025    502                        NMC - 785318
WILLOW 71                           1025    503                        NMC - 785319
MAVERICK #1                         968     832                        NMC - 754107
MAVERICK #3                         968     834                        NMC - 754109
MAVERICK #5                         968     836                        NMC - 754111
MAVERICK #7                         968     838                        NMC - 754113
MAVERICK #8                         968     839                        NMC - 754114
MAVERICK #9                         968     840                        NMC - 754115
MAVERICK #10                        968     841                        NMC - 754116
MAVERICK #11                        968     842                        NMC - 754117
MAVERICK #12                        968     843                        NMC - 754118
MAVERICK #13                        968     844                        NMC - 754119
MAVERICK #14                        968     845                        NMC - 754120
MAVERICK #15                        968     846                        NMC - 754121
MAVERICK #16                        968     847                        NMC - 754122
MAVERICK #17                        968     848                        NMC - 754123
MAVERICK #18                        968     849                        NMC - 754124
MAVERICK #39                        968     864                        NMC - 754140
MAVERICK #40                        968     865                        NMC - 754141
MAVERICK #41                        968     866                        NMC - 754142
MAVERICK #42                        968     867                        NMC - 754143
MAVERICK 524                        1025    475                        NMC - 785291
MAVERICK 526                        1025    477                        NMC - 785293
MAVERICK 528                        1025    479                        NMC - 785295
MAVERICK 529                        1025    480                        NMC - 785296
MAVERICK 530                        1025    481                        NMC - 785297
MAVERICK 531                        1025    482                        NMC - 785298
MAVERICK 67                         1       38907                      NMC - 826140
MAVERICK 68                         1       38908                      NMC - 826141
MAVERICK 69                         1       38909                      NMC - 826142
MAVERICK 70                         1       38910                      NMC - 826143
MAVERICK 71                         1       38911                      NMC - 826144
MAVERICK 72                         1       38912                      NMC - 826145
MAVERICK 73                         1       38913                      NMC - 826146
MAVERICK 74                         1       38914                      NMC - 826147
</TABLE>

                                      -4-
<PAGE>

                                    EXHIBIT 8
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                         MOUNTAIN VIEW AREA OF INTEREST

         The Mountain View Area of Interest includes all land within 0.5 miles
of the exterior boundary of the following unpatented mining claims, as they were
located as of June 30, 2000, and as generally depicted on Exhibit A to that
Lease/Option Agreement dated June 3, 2000, as amended on April 16, 2001 and June
6, 2002, between Franco-Nevada Mining Corporation, Inc., and Raymond W. and
Leslie A. Wittkopp, a memorandum of which was recorded in the Washoe County
Recorder's Office on August 11, 2000, as Document 2472553.

<TABLE>
<CAPTION>
                                  WASHOE COUNTY
------------------------------------------------------------------------------------------
                                                                                BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE              DOCUMENT #        ("NMC")
------------------------------------------------------------------------------------------
<S>                                 <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                  WASHOE COUNTY
---------------------------------------------------------------------------------
                                                                       BLM SERIAL
                                                                       NUMBER
CLAIM NAME                 BOOK    PAGE              DOCUMENT #        ("NMC")
----------------------------------------------------------------------------------
<S>                        <C>     <C>               <C>               <C>
Jack 65                    1797     788              821306            253297
Jack 66                    1797     789              821307            253298
Jack 67                    1797     790              821308            253299
Jack 68                    1797     791              821309            253300
Jack 69                    1797     792              821310            253301
Jack 70                    1797     793              821311            253302
Jack 71                    1797     794              821312            253303
Jack 72                    1797     795              821313            253304
Jack 73                    1797     796              821314            253305
Jack 74                    1797     797              821315            253306
Jack 75                    1797     798              821316            253307
Jack 76                    1797     799              821317            253308
Jack 77                    1979     800              821318            253309
Jack 78                    1797     801              821319            253310
Jack 79                    1797     802              821320            253311
Jack 80                    1797     803              821321            253312
Jack 81                    1797     804              821322            253313
Jack 82                    1797     805              821323            253314
Jack 83                    1797     806              821324            253315
Jack 84                    1797     807              821325            253316
Jack 85                    1797     808              821326            253317
Jack 86                    1797     809              821327            253318
Jack 87                    1797     810              821328            253319
Jack 88                    1797     811              821329            253320
Jack 89                    1797     812              821330            253321
Jack 90                    1797     813              821331            253322
Jack 91                    1797     814              821332            253323
Jack 92                    1797     815              821333            253324
Jack 93                    1797     816              821334            253325
Jack 94                    1797     817              821335            253326
Jack 95                    1797     818              821336            253327
Jack 96                    1797     819              821337            253328
Harlan #1                  1796     876              820863            253656
Lara #1                    1796     878              820865            253657
Rich #13                                             2432283           814670
Rich #14                                             2432284           814671
Rich #15                                             2432285           814672
Rich #16                                             2432286           814673
Rich #17                                             2432287           814674
Rich #18                                             2432288           814675
Rich #21                                             2432289           814676
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
                                  WASHOE COUNTY
---------------------------------------------------------------------------------
                                                                       BLM SERIAL
                                                                       NUMBER
CLAIM NAME                                           DOCUMENT #        ("NMC")
---------------------------------------------------------------------------------
<S>                                                  <C>               <C>
Rich #22                                             2432290           814677
Rich #23                                             2432291           814678
Rich #24                                             2432292           814679
Rich #39                                             2432293           814680
Rich #41                                             2432294           814681
Rich #43                                             2432295           814682
Rich #45                                             2432296           814683
Rich #47                                             2432297           814684
Rich 50                                              2432298           814685
Rich 51                                              2432299           814686
Rich 52                                              2432300           814687
</TABLE>

                                      -3-
<PAGE>

<PAGE>

                                    EXHIBIT 9
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                                  ROYALTY DEED
                                  ------------

     This Royalty Deed (hereafter, the "Deed"), effective as of the __ day of
October, 2002, is by and between Vista Nevada Corp., a Nevada corporation, whose
address is 7961 Shaffer Parkway, Suite 5, Littleton, Colorado 80127 ("Grantor")
and Newmont Capital Limited, a Nevada corporation, whose address is 1700 Lincoln
Street, Denver, Colorado 80203 ("Newmont").

     Whereas, pursuant to that Agreement, dated October __, 2002, between
Grantor, Vista Gold Corporation, Newmont and Newmont USA Limited d/b/a Newmont
Mining Corporation (the "Agreement"), Newmont has conveyed to Grantor, its
interests in the Property (defined below);

     Now, therefore, Grantor, for and in consideration of the sum of $10.00
lawful money of the United States of America, together with other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, has remised, released, sold, transferred, conveyed and
quitclaimed, and by these presents does remise, release, sell, transfer, convey
and forever quitclaim unto Newmont a production royalty (the "Production
Royalty") on production of Minerals from the Property. For purposes of this
Deed, the term "Mineral(s)" shall mean any and all metals, minerals and mineral
rights of whatever kind and nature in, under or upon the surface or subsurface
of the Property (including, without limitation metals, precious metals, base
metals, industrial minerals, gems, diamonds, commercially valuable rock,
aggregate, clays and diatomaceous earth, hydrocarbons, and oil and gas, and
other minerals which are mined, excavated, extracted or otherwise recovered).

     1.  PROPERTY SUBJECT TO PRODUCTION ROYALTY. The Production Royalty shall be
a royalty interest in and a burden upon the property more particularly described
on EXHIBIT A to this Deed (the "Property").

     2.  PRODUCTION ROYALTY. Grantor shall pay to Newmont a perpetual Production
Royalty in an amount equal to one and one half percent (1 1/2%) of Net Smelter
Returns (defined below) from the sale or other disposition of all Minerals
produced and sold from the Property, determined in accordance with the
provisions set forth in this Deed.

          (a) FOR PRECIOUS METALS. Net Smelter Returns, in the case of gold,
silver, and platinum group metals ("Precious Metals"), shall be determined by
multiplying (i) the gross number of troy ounces of Precious Metals contained in
the production from the Property ("Monthly Production") delivered to the
smelter, refiner, processor, purchaser or other recipient of such production, or
an insurer as a result of

<PAGE>

casualty to such production (collectively, "Payor") during the preceding
calendar month, by (ii) for gold, the average of the London Bullion Market,
Afternoon Fix, spot prices for the preceding calendar month and for all other
Precious Metals, the average of the New York Commodities Exchange final spot
prices for the preceding calendar month for the particular Mineral for which the
price is being determined, and subtracting from the product of (i) and (ii) only
the following if actually incurred:

               (A) charges imposed by the Payor for refining bullion from dore
or concentrates of Precious Metals ("Beneficiated Precious Metals") produced by
Grantor's final mill or other final processing plant; however, charges imposed
by the Payor for smelting or refining of raw or crushed ore containing Precious
Metals or other preliminarily processed Precious Metals shall not be subtracted
in determining Net Smelter Returns;

               (B) penalty substance, assaying, and sampling charges imposed by
the Payor for refining Beneficiated Precious Metals contained in such
production; and

               (C) charges and costs, if any, for transportation and insurance
of Beneficiated Precious Metals from Grantor's mill or other final processing
plant to places where such Beneficiated Precious Metals are smelted, refined
and/or sold or otherwise disposed of; and

In the event the refining of bullion from the Beneficiated Precious Metals
contained in such production is carried out in custom toll facilities owned or
controlled, in whole or in part, by Grantor, which facilities were not
constructed for the purpose of refining Beneficiated Precious Metals or other
Minerals from the Property, then charges, costs and penalties for such refining
shall mean the amount Grantor would have incurred if such refining were carried
out at facilities not owned or controlled by Grantor then offering comparable
services for comparable products on prevailing terms, but in no event greater
than actual costs incurred by Grantor with respect to such refining.

In the event Grantor receives insurance proceeds for loss of production, Grantor
shall pay to Newmont the Royalty percentage of any such insurance proceeds which
are received by Grantor for such loss of production.

          (b) FOR OTHER MINERALS. Net Smelter Returns, in the case of all
Minerals other than Precious Metals and the beneficiated products thereof
("Other Minerals"), shall be determined by multiplying (i) the gross amount of
the particular Other Mineral contained in the Monthly Production delivered to
the Payor during the preceding calendar month by (ii) the average of the New
York Commodities Exchange final daily spot prices for the preceding calendar
month of the appropriate Other Mineral, and subtracting from the product of (i)
and (ii) only the following if actually incurred:

               (A) charges imposed by the Payor for smelting, refining or
processing Other Minerals contained in such production, but excluding any and
all charges and costs related to Grantor's mills or other processing plants
constructed for the purpose of milling or processing Other Minerals, in whole or
in part;

                                       -2-
<PAGE>

               (B) penalty substance, assaying, and sampling charges imposed by
the Payor for smelting, refining, or processing Other Minerals contained in such
production, but excluding any and all charges and costs of or related to
Grantor's mills or other processing plants constructed for the purpose of
milling or processing Other Minerals, in whole or in part; and

               (C) charges and costs, if any, for transportation and insurance
of Other Minerals and the beneficiated products thereof from Grantor's final
mill or other final processing plant to places where such Beneficiated Precious
Metals are smelted, refined and/or sold or otherwise disposed of.

In the event smelting, refining, or processing of Other Minerals are carried out
in custom toll facilities owned or controlled, in whole or in part, by Grantor,
which facilities were not constructed for the purpose of milling or processing
Other Minerals, then charges, costs and penalties for such smelting, refining or
processing shall mean the amount Grantor would have incurred if such smelting,
refining or processing were carried out at facilities not owned or controlled by
Grantor then offering comparable services for comparable products on prevailing
terms, but in no event greater than actual costs incurred by Grantor with
respect to such smelting and refining.

In the event Grantor receives insurance proceeds for loss of production, Grantor
shall pay to Newmont the Royalty percentage of any such insurance proceeds which
are received by Grantor for such loss of production.

          (c) PAYMENTS OF ROYALTY IN CASH OR IN KIND. Royalty payments shall be
made to Newmont as follows:

               (i) ROYALTY IN KIND. Newmont may elect to receive its Royalty on
Precious Metals from the Property "in cash" or "in kind" as refined bullion. The
election may be exercised once per year on a calendar year basis during the life
of production from the Property. Notice of election to receive the following
year's Royalty for Precious Metals in cash or in kind shall be made in writing
by Newmont and delivered to Grantor on or before November 1 of each year. In the
event no written election is made, the Royalty for Precious Metals will continue
to be paid as it is then being paid. As of the date of this Deed, Newmont elects
to receive its Royalty on Precious Metals "in cash." Royalties on Other Minerals
shall not be payable in kind.

                    (A) If Newmont elects to receive its Royalty for Precious
Metals in kind, Newmont shall open a bullion storage account at each refinery or
mint designated by Grantor as a possible recipient of refined bullion in which
Newmont owns an interest. Newmont shall be solely responsible for all costs and
liabilities associated with maintenance of such account or accounts, and Grantor
shall not be required to bear any additional expense with respect to such
in-kind payments.

                    (B) Royalty will be paid by the deposit of refined bullion
into Newmont's account. On or before the 25th day of each calendar month
following a calendar month during which production and sale or other disposition

                                       -3-
<PAGE>

occurred, Grantor shall deliver written instructions to the mint or refinery,
with a copy to Newmont, directing the mint or refinery to deliver refined
bullion due to Newmont in respect of the Royalty, by crediting to Newmont's
account the number of ounces of refined bullion for which Royalty is due;
PROVIDED, HOWEVER, that the words "other disposition" as used in this Deed shall
not include processing, milling, beneficiation or refining losses of Precious
Metals. The number of ounces of refined bullion to be credited will be based
upon Newmont's share of the previous month's production and sale or other
disposition as calculated pursuant to the commingling provisions of Section 2(f)
hereof.

                    (C) Royalty payable in kind on silver or platinum group
metals shall be converted to the gold equivalent of such silver or platinum
group metals by using the average monthly spot prices for Precious Metals
described in Section 2(a).

                    (D) Title to refined bullion delivered to Newmont under this
Deed shall pass to Newmont at the time such bullion is credited to Newmont's
account at the mint or refinery.

                    (E) Newmont agrees to hold harmless Grantor from any
liability imposed as a result of the election of Newmont to receive Royalty in
kind and from any losses incurred as a result of Newmont's trading and hedging
activities. Newmont assumes all responsibility for any shortages which occur as
a result of Newmont's anticipation of credits to its account in advance of an
actual deposit or credit to its account by a refiner or mint.

                    (F) When royalties are paid in kind, they will not reflect
the costs deductible in calculating "Net Smelter Returns" under this Deed.
Within 15 days of the receipt of a statement showing charges incurred by Grantor
for transportation, smelting or other deductible costs, Newmont shall remit to
Grantor full payment for such charges. If Newmont does not pay such charges when
due, Grantor shall have the right, at its election, to deduct the gold
equivalent of such charges from the ounces of gold bullion to be credited to
Newmont in the following month.

               (ii) IN CASH. If Newmont elects to receive its Royalty for
Precious Metals in cash, and as to Royalty payable on Other Minerals, payments
shall be payable on or before the twenty-fifth (25th) day of the month following
the calendar month in which the Minerals subject to the Royalty were shipped to
the Payor by Grantor. For purposes of calculating the cash amount due to
Newmont, Precious Metals and Other Minerals will be deemed to have been sold or
otherwise disposed of at the time refined production from Property is delivered,
made available, or credited to Grantor by a mint or refiner. The price used for
calculating the cash amount due for Royalty on Precious Metals or Other Minerals
shall be determined in accordance with Section 2(a) and (b) as applicable.
Grantor shall make each Royalty payment to be paid in cash by delivery of a
check or draft payable to Newmont and delivering the check to Grantor at its
address listed in Section 9(h). Newmont hereby waives and agrees to hold Grantor
harmless against, and binds its successors and assigns to waive and hold Grantor

                                       -4-
<PAGE>

harmless against, any claim by any other party to any Royalty paid by Grantor as
herein provided.

               (iii) DETAILED STATEMENT. All Royalty payments or credits shall
be accompanied by a detailed statement explaining the calculation thereof
together with any available settlement sheets from the Payor.

          (d) MONTHLY RECONCILIATION.

               (i) On or before the 25th day of the month, Grantor shall make an
interim settlement based on the information then available of such Royalty,
either in cash or in kind, whichever is applicable, by paying (A) not less than
one hundred percent (100%) of the anticipated final settlement of Precious
Metals in kind Royalty payments and (B) not less than ninety-five percent (95%)
of the anticipated final settlement of cash Royalty payments.

               (ii) The parties recognize that a period of time exists between
the production of ore, the production of dore or concentrates from ore, the
production of refined or finished product from dore or concentrates, and the
receipt of Payor's statements for refined or finished product. As a result, the
payment of Royalty will not coincide exactly with the actual amount of refined
or finished product produced from the Property for the previous month. Grantor
will provide final reconciliation promptly after settlement is reached with the
Payor for all lots sold or subject to other disposition in any particular month.

               (iii) In the event that Newmont has been underpaid for any
provisional payment (whether in cash or in kind), Grantor shall pay the
difference in cash by check and not in kind with such payment being made at the
time of the final reconciliation. If Newmont has been overpaid in the previous
calendar quarter, Newmont shall make a payment to Grantor of the difference by
check. Reconciliation payments shall be made on the same basis as used for the
payment in cash pursuant to Section 2(c)(ii).

          (e) HEDGING TRANSACTIONS. All profits and losses resulting from
Grantor's sales of Precious Metals, or Grantor's engaging in any commodity
futures trading, option trading, or metals trading, or any combination thereof,
and any other hedging transactions including trading transactions designed to
avoid losses and obtain possible gains due to metal price fluctuations
(collectively, "hedging transactions") are specifically excluded from Royalty
calculations pursuant to this Deed. All hedging transactions by Grantor and all
profits or losses associated therewith, if any, shall be solely for Grantor's
account.

The Royalty payable on Precious Metals or Other Minerals subject to hedging
transactions shall be determined as follows:

               (i) AFFECTING PRECIOUS METALS. The amount of Royalty to be paid
on all Precious Metals subject to hedging transactions by Grantor shall be
determined in the same manner as provided in Section 2(a), with the
understanding that

                                       -5-
<PAGE>

the average monthly spot price shall be for the calendar month preceding the
calendar month during which Precious Metals subject to hedging transactions are
shipped by Grantor to the Payor.

               (ii) AFFECTING OTHER MINERALS. The amount of Royalty to be paid
on all Other Minerals subject to hedging transactions by Grantor shall be
determined in the same manner as provided in Section 2(b), with the
understanding that the average monthly spot price shall be for the calendar
month preceding the calendar month during which Other Minerals subject to
hedging transactions are shipped to the Payor.

          (f) COMMINGLING. Grantor shall have the right to commingle Minerals
from the Property with minerals from other properties. Before any Precious
Metals or Other Minerals produced from the Property are commingled with minerals
from other properties, the Precious Metals or Other Minerals produced from the
Property shall be measured and sampled in accordance with sound mining and
metallurgical practices for moisture, metal, commercial minerals and other
appropriate content. Representative samples of the Precious Metals or Other
Minerals shall be retained by Grantor and assays (including moisture and penalty
substances) and other appropriate analyses of these samples shall be made before
commingling to determine gross metal content of Precious Metals or gross metal
or mineral content of Other Minerals. Grantor shall retain such analyses for a
reasonable amount of time, but not less than eighteen (18) months, after receipt
by Newmont of the Royalty paid with respect to such commingled Minerals from the
Property; and shall retain such samples taken from the Property for seven (7)
days after collection.

          (g) NO OBLIGATION TO MINE. Grantor shall have sole discretion to
determine the extent of its mining of the Property and the time or the times for
beginning, continuing or resuming mining operations with respect thereto.
Grantor shall have no obligation to Newmont or otherwise to mine any of the
Property, nor shall it have any obligation to diligently explore or develop the
Property.

     3.  BOOKS, RECORDS, INSPECTIONS, CONFIDENTIALITY AND PRESS RELEASES.

          (a) Not later than March 15 following the end of each calendar year,
Grantor shall provide Newmont with an annual report of activities and operations
conducted with respect to the Property during the preceding calendar year. Such
annual report shall include details of: (i) the preceding year's activities with
respect to the Property; (ii) ore reserve data for the calendar year just ended;
and (iii) estimates of anticipated production and estimated remaining ore
reserves with respect to proposed activities for the Property for the current
calendar year. In addition, not more frequently than semi-annually, Newmont
shall have the right, upon reasonable notice to Grantor, to inspect and copy all
books, records, technical data, information and materials (the "Data")
pertaining to Grantor's activities with respect to the Property; provided that
such inspections shall not unreasonably interfere with Grantor's activities with
respect to the Property. Grantor makes no representations or warranties to
Newmont concerning any of the Data or any information contained in the annual
reports, and Newmont agrees that if it elects to rely on any such Data or
information, it does so at its sole risk.

                                       -6-
<PAGE>

          (b) Newmont shall have the right to audit the books and records
pertaining to production from the Property and contest payments of Royalty for
24 months after receipt by Newmont of the payments to which such books and
records pertain. Such payments shall be deemed conclusively correct unless
Newmont objects to them in writing within 24 months after receipt thereof.

          (c) Newmont shall have the right, upon reasonable notice, to inspect
the facilities associated with the Property. Such inspection shall be at the
sole risk of Newmont, and Newmont shall indemnify Grantor from any liability
caused by Newmont's exercise of inspection rights.

          (d) Newmont shall not, without the prior written consent of Grantor,
which shall not be unreasonably withheld, knowingly disclose to any third party
data or information obtained pursuant to this Deed which is not generally
available to the public; PROVIDED, HOWEVER, Newmont may disclose data or
information so obtained without the consent of Grantor: (i) if required for
compliance with laws, rules, regulations or orders of a governmental agency or
stock exchange; (ii) to any of Newmont's contractors or consultants; (iii) to
any third party to whom Newmont, in good faith, anticipates selling or assigning
Newmont's interest in the Property; (iv) to a prospective lender; or (v) to a
party which Newmont or an affiliate contemplates a merger, amalgamation or other
corporate reorganization, provided however, that any such third party to whom
disclosure is made has a legitimate business need to know the disclosed
information, and shall first agree in writing to protect the confidential nature
of such information to the same extent Newmont is obligated under this
subsection.

          (e) Subject to its rights and obligations under Section 3(d), Newmont
shall not issue any press releases pertaining to the Property except upon giving
Grantor three (3) days advance written notice of the contents thereof, and
Newmont shall make any reasonable changes to such proposed press releases
requested by Grantor. Newmont shall not, without Grantor's consent, issue any
press release that implies or infers that Grantor endorses or joins in Newmont's
statements or representations contained in any press release.

     4.  RECORDS AND AUDITS. Grantor's records of all mining and milling
operations on the Property, and its records with respect to commingling of
production from the Property, shall be available for Newmont's or its authorized
agents' inspection and/or audit upon reasonable advance notice and during normal
business hours. If any such audit or inspection reveals that Royalty payments
for any calendar year are underpaid by more than five percent, Grantor shall
reimburse Newmont for its reasonable costs incurred in such audit or inspection.
Newmont shall be entitled to enter the mine workings and structures on the
Property at reasonable times upon reasonable advance notice for inspection
thereof, but Newmont shall so enter at its own risk and shall indemnify and hold
Grantor and its affiliates harmless against and from any and all loss, costs,
damage, liability and expense (including but not limited to reasonable
attorneys' fees and costs) by reason of injury to Newmont or its agents or
representatives or damage to or destruction of any property of Newmont or its
agents or representatives while on the

                                       -7-
<PAGE>

Property on or in such mine workings and structures, unless such injury, damage,
or destruction is a result, in whole or in part, of the negligence of Grantor.

     5.  NEW RESOURCES OR RESERVES. If Grantor establishes a mineral resource or
mineral reserve on any of the Property, Grantor shall provide to Newmont the
amount of such resource or reserve as soon as practicable after Grantor makes a
public declaration with respect to the establishment thereof

     6.  COMPLIANCE WITH LAW. Grantor shall at all times comply with all
applicable federal, provincial, and local laws, statutes, rules, regulations,
permits, ordinances, certificates, licenses and other regulatory requirements,
policies and guidelines relating to operations and activities on or with respect
to the Property; PROVIDED, HOWEVER, Grantor shall have the right to contest any
of the same if such contest does not jeopardize the Property or Newmont's rights
thereto or under this Deed.

     7.  STOCKPILING AND TAILINGS. All tailings, residues, waste rock, spoiled
leach materials, and other materials (collectively "Materials") resulting from
Grantor's operations and activities with respect to the Property shall be the
sole property of Grantor, but shall remain subject to the Royalty (calculated
and paid in accordance with the terms of this Deed) should the Materials be
processed or reprocessed, as the case may be, in the future and result in the
production, sale or other disposition of Precious Metals or Other Minerals.
Notwithstanding the foregoing, Grantor shall have the right to dispose of any or
all such Materials and to commingle the same with other minerals from other
properties. In the event Materials from the Property are processed or
reprocessed, as the case may be, and regardless of where such processing or
reprocessing occurs, the Royalty payable thereon under this Deed shall be
determined on a pro rata basis as determined by using the best engineering and
technical practices then available.

     8.  REAL PROPERTY INTEREST AND RELINQUISHMENT OF PROPERTY. The Net Smelter
Return Royalty shall attach to any amendments, relocations or conversions of any
mining claims or leases comprising the Property, or to any renewals or
extensions of leases thereof. The Net Smelter Return Royalty shall be a real
property interest that runs with the Property and shall be applicable to Grantor
and its successors and assigns of the Property. If the Grantor surrenders or
relinquishes any of the Property, such properties shall no longer be part of the
Property, provided, however; that if Grantor reacquires any such properties
within a period of five years after the effective date of relinquishment or
abandonment, such reacquired properties shall be included in the Property from
and after the date of such reacquisition.

     9.  GENERAL PROVISIONS.

          (a) The parties promptly shall execute all such further instruments
and documents and do all such further actions as may be necessary to effectuate
the purposes of this Deed.

                                       -8-
<PAGE>

          (b) All covenants, conditions and terms of this Deed shall be of
benefit to the parties and run as a covenant with the Property and shall bind
and inure to the benefit of the parties hereto and their respective assigns and
successors.

          (c) This Deed shall not be construed to create, expressly or by
implication, a joint venture, mining partnership, commercial partnership, or
other partnership relationship between Grantor and Newmont.

          (d) This Deed may not be modified orally, but only by written
agreement executed by Grantor and Newmont.

          (e) Time is of the essence in this Deed.

          (f) This Deed is to be governed by and construed under the laws of the
State of Nevada.

          (g) As used in this Deed, the term "Newmont" shall include all of
Newmont's successors-in-interest, including without limitation assignees,
partners, joint venture partners, lessees, and when applicable mortgagees and
affiliated companies having or claiming an interest in the Property. As used in
this Deed, the term "Grantor" shall include all of Grantor's
successors-in-interest, including without limitation assignees, partners, joint
venture partners, lessees, and when applicable mortgagees and affiliated
companies having or claiming an interest in the Property. As used in this Deed,
the term "Party" or "Parties" shall mean one or both, as the case may be, of
Grantor and Newmont.

          (h) Assignment of Property. Grantor shall be free to convey, transfer,
assign, abandon or encumber all or any portion of its interest in the Property
only in accordance with the terms of the Agreement, provided that in the event
of any such conveyance, transfer or assignment, it shall require the party or
parties acquiring such interest to assume in a written agreement with Newmont
the obligations of this Deed in respect of such interests, and thereupon it
shall be relieved of all liability under this Deed as to such interest in the
Property, except for liabilities existing on the date of such conveyance,
transfer, or assignment.

          (i) Any notice or other correspondence required or permitted hereunder
shall be deemed to have been property given or delivered when made in writing
and hand delivered to the party to whom directed, or when sent by United States
certified mail, electronic facsimile transmission, or Western Union telegraph,
with all necessary postage or charges fully prepaid, return receipt requested
(or in the case of a facsimile or telegram, confirmation of delivery), and
addressed to the party to whom directed at the following address:

                                       -9-
<PAGE>

                  Grantor:

                           Vista Nevada Corp.
                           7961 Shaffer Parkway, Suite 5
                           Littleton, Colorado 80127
                           Attention:   Ronald J. (Jock) McGregor)
                           Facsimile:   720/981-1186

                                       -10-
<PAGE>

                  Newmont:

                           Newmont Capital Limited
                           1700 Lincoln Street
                           Denver, Colorado 80203
                           Attention:   Land Department
                           Facsimile:   303/837-5851

Either party hereto may change its address for the purpose of notices or
communications hereunder by furnishing notice thereof to the other party in
compliance with this Section.

     This Deed contains the entire agreement between Grantor and Newmont with
respect to the subject matter hereof. Wherefore, this Deed is executed and
delivered effective on the day and year above written.

                                           GRANTOR:

                                           Vista Nevada Corp.
                                           a Nevada corporation

                                           By: _________________________________
                                               Name:
                                               Title:

                                           NEWMONT:

                                           Newmont Capital Limited
                                           a Nevada corporation

                                           By: _________________________________
                                               Name:
                                               Title:

                                       -11-
<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

     This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Vista Nevada Corp.

     In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                    ____________________________________________
                                    Notary Public

                                    My Commission expires:______________________

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

     This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Newmont Capital Limited

    In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                    ____________________________________________
                                    Notary Public

                                    My Commission expires:______________________

                                       -12-
<PAGE>

                                    EXHIBIT A
                   TO ROYALTY DEED BETWEEN VISTA NEVADA CORP.
                           AND NEWMONT CAPITAL LIMITED

                                  THE PROPERTY

     1.  MOUNTAIN VIEW PROPERTY

     The following described unpatented lode mining claims situated in
Washoe County, Nevada:

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE          DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
Jack 65                             1797    788               821306            253297
Jack 66                             1797    789               821307            253298
Jack 67                             1797    790               821308            253299
Jack 68                             1797    791               821309            253300
Jack 69                             1797    792               821310            253301
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE          DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Jack 70                             1797     793              821311            253302
Jack 71                             1797     794              821312            253303
Jack 72                             1797     795              821313            253304
Jack 73                             1797     796              821314            253305
Jack 74                             1797     797              821315            253306
Jack 75                             1797     798              821316            253307
Jack 76                             1797     799              821317            253308
Jack 78                             1797     801              821319            253310
Jack 79                             1797     802              821320            253311
Jack 80                             1797     803              821321            253312
Jack 81                             1797     804              821322            253313
Jack 82                             1797     805              821323            253314
Jack 83                             1797     806              821324            253315
Jack 84                             1797     807              821325            253316
Jack 85                             1797     808              821326            253317
Jack 86                             1797     809              821327            253318
Jack 87                             1797     810              821328            253319
Jack 88                             1797     811              821329            253320
Jack 89                             1797     812              821330            253321
Jack 90                             1797     813              821331            253322
Jack 91                             1797     814              821332            253323
Jack 92                             1797     815              821333            253324
Jack 93                             1797     816              821334            253325
Jack 94                             1797     817              821335            253326
Jack 95                             1797     818              821336            253327
Jack 96                             1797     819              821337            253328
Harlan #1                           1796     876              820863            253656
Lara #1                             1796     878              820865            253657
Rich #13                                                      2432283           814670
Rich #14                                                      2432284           814671
Rich #15                                                      2432285           814672
Rich #16                                                      2432286           814673
Rich #17                                                      2432287           814674
Rich #18                                                      2432288           814675
Rich #21                                                      2432289           814676
Rich #22                                                      2432290           814677
Rich #23                                                      2432291           814678
Rich #24                                                      2432292           814679
Rich #39                                                      2432293           814680
Rich 50                                                       2432298           814685
Rich 51                                                       2432299           814686
</TABLE>

                                     -2-
<PAGE>

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                                         <C>                <C>
Rich 52                                                      2432300            814687
Jack 67A                                                     2516120            822239
Jack 77R                                                     2516119            822240
Rich 61                                                      2516129            822249
Rich 63                                                      2516131            822251
Rich 64                                                      2516132            822252
Rich 66                                                      2516134            822254
Rich 68                                                      2516136            822256
Rich 70                                                      2516138            822258
Rich 72                                                      2516140            822260
Rich 74                                                      2516142            822262
Rich 76                                                      2516144            822264
Rich 78                                                      2516146            822266
Rich 80                                                      2516148            822268
Rich 81                                                      2516149            822269
Rich 82                                                      2516150            822270
Rich 83                                                      2516151            822271
Rich 84                                                      2516152            822272
Rich 85                                                      2516153            822273
Rich 86                                                      2516154            822274
Rich 87                                                      2516155            822275
Rich 88                                                      2516156            822276
Rich 89                                                      2516157            822277
Rich 90                                                      2516158            822278
Rich 91                                                      2516159            822279
Rich 92                                                      2516160            822280
Rich 93                                                      2516161            822281
Rich 94                                                      2516162            822282
Rich 95                                                      2516163            822283
Rich 96                                                      2516164            822284
Rich 97                                                      2516165            822285
Rich 98                                                      2516166            822286
Rich 99                                                      2516167            822287
Rich 100                                                     2516168            822288
Rich 101                                                     2516169            822289
Rich 102                                                     2516170            822290
Rich 103                                                     2516171            822291
Rich 104                                                     2516172            822292
Rich 105                                                     2516173            822293
Rich 106                                                     2516174            822294
Rich 107                                                     2516175            822295
</TABLE>

                                     -3-

<PAGE>

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                                         <C>                <C>
Rich 108                                                     2516176            822296
Rich 109                                                     2516177            822297
Rich 110                                                     2516178            822298
Rich 111                                                     2516179            822299
Rich 112                                                     2516180            822300
Rich 113                                                     2516181            822301
Rich 114                                                     2516182            822302
Rich 115                                                     2516183            822303
Rich 116                                                     2516184            822304
Rich 117                                                     2516185            822305
Rich 118                                                     2516186            822306
Rich 119                                                     2516187            822307
Rich 120                                                     2516188            822308
Rich 121                                                     2516189            822309
</TABLE>

     2. All land within 0.5 miles of the exterior boundary of the following
unpatented mining claims, as they were located as of June 30, 2000, and as
generally depicted on Exhibit A to that Lease/Option Agreement dated June 3,
2000, as amended on April 16, 2001 and June 6, 2002, between Franco-Nevada
Mining Corporation, Inc., and Raymond W. and Leslie A. Wittkopp, a memorandum of
which was recorded in the Washoe County Recorder's Office on August 11, 2000, as
Document 2472553.

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE          DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>      <C>              <C>               <C>
Mt. View #1                         1481     975              660347            142372
Mt. View #2                         1481     976              660348            142373
Mt. View #3                         1481     977              660349            142374
Mt. View #4                         1481     978              660350            142375
Mt. View #5                         1632     124              739181            196207
Mt. View #6                         1644     549              745360            202456
Big R #1                            1646     913              746334            203087
Jack 1                              1797     724              821242            253233
Jack 2                              1797     725              821243            253234
Jack 3                              1797     726              821244            253235
Jack 4                              1797     727              821245            253236
Jack 5                              1797     728              821246            253237
Jack 6                              1797     729              821247            253238
Jack 7                              1797     730              821248            253239
Jack 8                              1797     731              821249            253240
</TABLE>

                                     -4-
<PAGE>

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE          DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>      <C>              <C>               <C>
Jack 9                              1797     732              821250            253241
Jack 10                             1797     733              821251            253242
Jack 11                             1797     734              821252            253243
Jack 12                             1797     735              821253            253244
Jack 13                             1797     736              821254            253245
Jack 14                             1797     737              821255            253246
Jack 15                             1797     738              821256            253247
Jack 35                             1797     758              821276            253267
Jack 38                             1797     761              821279            253270
Jack 63                             1797     786              821304            253295
Jack 64                             1797     787              821305            253296
Jack 65                             1797     788              821306            253297
Jack 66                             1797     789              821307            253298
Jack 67                             1797     790              821308            253299
Jack 68                             1797     791              821309            253300
Jack 69                             1797     792              821310            253301
Jack 70                             1797     793              821311            253302
Jack 71                             1797     794              821312            253303
Jack 72                             1797     795              821313            253304
Jack 73                             1797     796              821314            253305
Jack 74                             1797     797              821315            253306
Jack 75                             1797     798              821316            253307
Jack 76                             1797     799              821317            253308
Jack 77                             1797     800              821318            253309
Jack 78                             1797     801              821319            253310
Jack 79                             1797     802              821320            253311
Jack 80                             1797     803              821321            253312
Jack 81                             1797     804              821322            253313
Jack 82                             1797     805              821323            253314
Jack 83                             1797     806              821324            253315
Jack 84                             1797     807              821325            253316
Jack 85                             1797     808              821326            253317
Jack 86                             1797     809              821327            253318
Jack 87                             1797     810              821328            253319
Jack 88                             1797     811              821329            253320
Jack 89                             1797     812              821330            253321
Jack 90                             1797     813              821331            253322
Jack 91                             1797     814              821332            253323
Jack 92                             1797     815              821333            253324
Jack 93                             1797     816              821334            253325
Jack 94                             1797     817              821335            253326
</TABLE>

                                     -5-
<PAGE>

<TABLE>
<CAPTION>
                                         WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK    PAGE          DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>      <C>              <C>               <C>
Jack 95                             1797     818              821336            253327
Jack 96                             1797     819              821337            253328
Harlan #1                           1796     876              820863            253656
Lara #1                             1796     878              820865            253657
Rich #13                                                      2432283           814670
Rich #14                                                      2432284           814671
Rich #15                                                      2432285           814672
Rich #16                                                      2432286           814673
Rich #17                                                      2432287           814674
Rich #18                                                      2432288           814675
Rich #21                                                      2432289           814676
Rich #22                                                      2432290           814677
Rich #23                                                      2432291           814678
Rich #24                                                      2432292           814679
Rich #39                                                      2432293           814680
Rich #41                                                      2432294           814681
Rich #43                                                      2432295           814682
Rich #45                                                      2432296           814683
Rich #47                                                      2432297           814684
Rich 50                                                       2432298           814685
Rich 51                                                       2432299           814686
Rich 52                                                       2432300           814687
</TABLE>

                                     -6-

<PAGE>
<PAGE>

                                   EXHIBIT 10
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                                FEASIBILITY STUDY
                                -----------------

     Feasibility Study means a detailed report regarding the development of a
mine on the Newmont Property, or any part thereof that is subject to the Joint
Venture Agreement (the "Properties"), including at least the following
information:

o    a description of that part of the Properties to be covered by the proposed
     mine;
o    the estimated recoverable reserves of minerals and the estimated
     composition and content thereof;
o    the proposed procedure for development, and mining production;
o    results of ore amenability tests (if any);
o    the nature and extent of the mine facilities proposed to be acquired which
     may include mill facilities, if the size, extent and location of the ore
     body makes such mill facilities feasible, in which event the report shall
     also include a preliminary design for such mill;
o    the total costs, including capital budget, which are reasonably required to
     purchase, construct and install all structures, machinery and equipment
     required for the proposed mine, including a schedule of timing of such
     requirements;
o    all environmental impact studies and costs;
o    the period in which it is proposed that the Properties be brought into
     commercial production;
o    such other data and information as are reasonably necessary to substantiate
     the existence of a mineral deposit of sufficient size and grade to justify
     development of a mine, taking into account all relevant business, tax and
     other economic considerations; and
o    working capital requirements for the initial four months of operation of
     the Properties as a mine or such longer period as may be reasonably
     justified in the circumstances;

which is in such form as is necessary to substantially meet the standards of
North American financial institutions for the purpose of determining the
advisability of providing project financing on a commercial competitive basis
taking into account all relevant criteria deemed to be both normal and prudent
for the mining industry at that time.

<PAGE>

                                   EXHIBIT 11
                 TO AGREEMENT BETWEEN NEWMONT USA LIMITED D/B/A
                           NEWMONT MINING CORPORATION,
                            NEWMONT CAPITAL LIMITED,
                  VISTA GOLD CORPORATION AND VISTA NEVADA CORP.

                             MEMORANDUM OF AGREEMENT

     KNOW ALL BY THESE PRESENT:

     That the undersigned have executed and delivered their agreement in writing
bearing an effective date of October __, 2002 ("Agreement"), containing terms
and conditions, all of which are hereby made a part hereof as fully and
completely as if herein specifically set out in full, whereby (i) Newmont USA
Limited d/b/a Newmont Mining Corporation, a Delaware corporation ("Newmont"),
agreed to convey to Vista Nevada Corp., a Nevada corporation ("VNC"), its entire
interest in that Lease described on Exhibit A hereto ("the Maverick Springs
Property"), (ii) Newmont Capital Limited, a Nevada corporation ("NCL") agreed to
convey and quit claim to VNC its entire interest in the Lease and unpatented
mining claims described on Exhibit B hereto (the "Mountain View Property") (the
Maverick Springs Property and Mountain View Property are collectively referred
to herein as the "Property"), (iii) VNC agreed to convey to Newmont a royalty on
production of minerals produced from the Maverick Springs Property and the
Maverick Springs Area of Interest (described in Exhibit C hereto), and (iv) VNC
agreed to convey to NCL a royalty on production of minerals from the Mountain
View Property and the Mountain View Area of Interest (described in Exhibit D
hereto).

     VNC and Vista Gold Corporation ("Vista") also agreed to maintain the
Property in good standing, including, but not limited to payment of property
taxes, payment of federal maintenance fees for unpatented mining claims,
satisfying any federal or state filing requirements for maintaining unpatented
mining claims, and fulfilling all requirements of the Leases referenced in
Exhibits A and B (the "Leases"). Prior to abandoning any unpatented mining
claims included within the Newmont Property or terminating any portion of the
Leases, within 90 years of the date of the Agreement, VNC shall provide Newmont
written notice of its intent to abandon such claims or terminate such Leases,
and provide Newmont an opportunity to elect to have such claims or leasehold
interest conveyed to it. VNC also granted to Newmont a right to elect to process
metals mined from the Property, the Maverick Springs Area of Interest and the
Mountain View Area of Interest. VNC and Vista agreed to indemnify Newmont and
NCL for liabilities arising from or relating to operations and conditions on the
Property, whether previously existing or hereafter created. These covenants, and
obligations created thereby, are binding on the parties and their respective
successors and assigns, and shall run with the subject lands.

<PAGE>

NEWMONT USA LIMITED d/b/a
NEWMONT MINING CORPORATION

By: ___________________________
Name: _________________________
Title: ________________________

NEWMONT CAPITAL LIMITED

By: ___________________________
Name: _________________________
Title: ________________________

VISTA GOLD CORPORATION

By: ___________________________
Name: _________________________
Title: ________________________

VISTA NEVADA CORP.

By: ___________________________
Name: _________________________
Title: ________________________

                                     -2-
<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

     This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Newmont USA Limited d/b/a Newmont Mining Corporation.

     In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                    ____________________________________________
                                    Notary Public

                                    My Commission expires:______________________

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

     This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Newmont Capital Limited.

     In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                    ____________________________________________
                                    Notary Public

                                    My Commission expires:______________________

                                    -3-

<PAGE>

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

     This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Vista Gold Corporation.

     In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                    ____________________________________________
                                    Notary Public

                                    My Commission expires:______________________

STATE OF COLORADO        )
                         ) ss.
CITY AND COUNTY OF DENVER)

     This instrument was acknowledged before me on this ___ day of
_______________, 2002, by __________________________, as ______________________
of Vista Nevada Corp.

     In witness whereof, I have hereunto set my hand and affixed my official
seal the day and year first above written.

                                    ____________________________________________
                                    Notary Public

                                    My Commission expires:______________________

                                    -4-

<PAGE>

                                    EXHIBIT A
                           TO MEMORANDUM OF AGREEMENT

                            MAVERICK SPRINGS PROPERTY

     That certain Mining Lease and Agreement dated October 1, 2001 by and
between Newmont Mining Corporation and Artemis Exploration Company, as amended,
and the following described unpatented mining claims situated in Elko County and
White Pine County, Nevada:

<TABLE>
<CAPTION>

CLAIM  NAME                        BOOK    PAGE                   BLM SERIAL NUMBER
-----------------------------------------------------------------------------------
<S>                                <C>     <C>                        <C>
WILLOW #1                           968     784                        NMC - 754059
WILLOW #2                           968     785                        NMC - 754060
WILLOW #9                           968     792                        NMC - 754067
WILLOW #10                          968     793                        NMC - 754068
WILLOW #11                          968     794                        NMC - 754069
WILLOW #12                          968     795                        NMC - 754070
WILLOW #13                          968     796                        NMC - 754071
WILLOW #14                          968     797                        NMC - 754072
WILLOW #15                          968     798                        NMC - 754073
WILLOW #16                          968     799                        NMC - 754074
WILLOW #17                          968     800                        NMC - 754075
WILLOW #18                          968     801                        NMC - 754076
WILLOW #19                          968     802                        NMC - 754077
WILLOW #20                          968     803                        NMC - 754078
WILLOW #21                          968     804                        NMC - 754079
WILLOW #22                          968     805                        NMC - 754080
WILLOW #23                          968     806                        NMC - 754081
WILLOW #24                          968     807                        NMC - 754082
WILLOW #25                          968     808                        NMC - 754083
WILLOW #26                          968     809                        NMC - 754084
WILLOW #27                          968     810                        NMC - 754085
WILLOW #28                          968     811                        NMC - 754086
WILLOW #29                          968     812                        NMC - 754087
WILLOW #30                          968     813                        NMC - 754088
WILLOW #37                          968     814                        NMC - 754089
WILLOW #38                          968     815                        NMC - 754090
WILLOW #39                          968     816                        NMC - 754091
WILLOW #40                          968     817                        NMC - 754092
WILLOW #41                          968     818                        NMC - 754093
WILLOW #42                          968     819                        NMC - 754094
WILLOW #43                          968     820                        NMC - 754095
WILLOW #44                          968     821                        NMC - 754096
WILLOW #45                          968     822                        NMC - 754097
WILLOW #46                          968     823                        NMC - 754098
WILLOW #47                          968     824                        NMC - 754099
WILLOW #48                          968     825                        NMC - 754100
WILLOW #49                          968     826                        NMC - 754101
WILLOW #50                          968     827                        NMC - 754102
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

CLAIM  NAME                        BOOK    PAGE                   BLM SERIAL NUMBER
-----------------------------------------------------------------------------------
<S>                                <C>     <C>                <C>
WILLOW #51                          968     828                        NMC - 754103
WILLOW #52                          968     829                        NMC - 754104
WILLOW #53                          968     830                        NMC - 754105
WILLOW #54                          968     831                        NMC - 754106
WILLOW 55                           1025    487                        NMC - 785303
WILLOW 56                           1025    488                        NMC - 785304
WILLOW 57                           1025    489                        NMC - 785305
WILLOW 63                           1025    495                        NMC - 785311
WILLOW 65                           1025    497                        NMC - 785313
WILLOW 66                           1025    498                        NMC - 785314
WILLOW 67                           1025    499                        NMC - 785315
WILLOW 68                           1025    500                        NMC - 785316
WILLOW 69                           1025    501                        NMC - 785317
WILLOW 70                           1025    502                        NMC - 785318
WILLOW 71                           1025    503                        NMC - 785319
MAVERICK #1                         968     832                        NMC - 754107
MAVERICK #3                         968     834                        NMC - 754109
MAVERICK #5                         968     836                        NMC - 754111
MAVERICK #7                         968     838                        NMC - 754113
MAVERICK #8                         968     839                        NMC - 754114
MAVERICK #9                         968     840                        NMC - 754115
MAVERICK #10                        968     841                        NMC - 754116
MAVERICK #11                        968     842                        NMC - 754117
MAVERICK #12                        968     843                        NMC - 754118
MAVERICK #13                        968     844                        NMC - 754119
MAVERICK #14                        968     845                        NMC - 754120
MAVERICK #15                        968     846                        NMC - 754121
MAVERICK #16                        968     847                        NMC - 754122
MAVERICK #17                        968     848                        NMC - 754123
MAVERICK #18                        968     849                        NMC - 754124
MAVERICK #39                        968     864                        NMC - 754140
MAVERICK #40                        968     865                        NMC - 754141
MAVERICK #41                        968     866                        NMC - 754142
MAVERICK #42                        968     867                        NMC - 754143
MAVERICK 524                        1025    475                        NMC - 785291
MAVERICK 526                        1025    477                        NMC - 785293
MAVERICK 528                        1025    479                        NMC - 785295
MAVERICK 529                        1025    480                        NMC - 785296
MAVERICK 530                        1025    481                        NMC - 785297
MAVERICK 531                        1025    482                        NMC - 785298
MAVERICK 67                         1       38907                      NMC - 826140
MAVERICK 68                         1       38908                      NMC - 826141
MAVERICK 69                         1       38909                      NMC - 826142
MAVERICK 70                         1       38910                      NMC - 826143
MAVERICK 71                         1       38911                      NMC - 826144
MAVERICK 72                         1       38912                      NMC - 826145
MAVERICK 73                         1       38913                      NMC - 826146
MAVERICK 74                         1       38914                      NMC - 826147
NMS 1 - NMS 94                      1       43585 - 43640     NMC - 826738 - 826831
</TABLE>

                                     -2-
<PAGE>

<TABLE>
<CAPTION>

CLAIM  NAME                        BOOK    PAGE                   BLM SERIAL NUMBER
-----------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>
NMS 96                              1       43641                      NMC - 826832
NMC 98                              1       43642                      NMC - 826833
NMS 100                             1       43643                      NMC - 826834
NMS 102                             1       43644                      NMC - 826835
NMS 104                             1       43645                      NMC - 826836
NMS 106                             1       43646                      NMC - 826837
NMS 107 - NMS 166                   1       43647 - 43706     NMC - 826838 - 826897
</TABLE>

                                     -3-

<PAGE>

                                    EXHIBIT B
                           TO MEMORANDUM OF AGREEMENT

                             MOUNTAIN VIEW PROPERTY

     That certain Lease/Option Agreement effective June 30, 2000, by and between
Raymond W. and Leslie A. Wittkopp, and Franco-Nevada Mining Corporation, Inc.,
as amended, and the following described unpatented lode mining claims situated
in Washoe County, Nevada:

<TABLE>
<CAPTION>
                                    WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK   PAGE           DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
Jack 65                             1797    788               821306            253297
Jack 66                             1797    789               821307            253298
Jack 67                             1797    790               821308            253299
Jack 68                             1797    791               821309            253300
Jack 69                             1797    792               821310            253301
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                    WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK   PAGE           DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Jack 70                             1797     793              821311            253302
Jack 71                             1797     794              821312            253303
Jack 72                             1797     795              821313            253304
Jack 73                             1797     796              821314            253305
Jack 74                             1797     797              821315            253306
Jack 75                             1797     798              821316            253307
Jack 76                             1797     799              821317            253308
Jack 78                             1797     801              821319            253310
Jack 79                             1797     802              821320            253311
Jack 80                             1797     803              821321            253312
Jack 81                             1797     804              821322            253313
Jack 82                             1797     805              821323            253314
Jack 83                             1797     806              821324            253315
Jack 84                             1797     807              821325            253316
Jack 85                             1797     808              821326            253317
Jack 86                             1797     809              821327            253318
Jack 87                             1797     810              821328            253319
Jack 88                             1797     811              821329            253320
Jack 89                             1797     812              821330            253321
Jack 90                             1797     813              821331            253322
Jack 91                             1797     814              821332            253323
Jack 92                             1797     815              821333            253324
Jack 93                             1797     816              821334            253325
Jack 94                             1797     817              821335            253326
Jack 95                             1797     818              821336            253327
Jack 96                             1797     819              821337            253328
Harlan #1                           1796     876              820863            253656
Lara #1                             1796     878              820865            253657
Rich #13                                                     2432283            814670
Rich #14                                                     2432284            814671
Rich #15                                                     2432285            814672
Rich #16                                                     2432286            814673
Rich #17                                                     2432287            814674
Rich #18                                                     2432288            814675
Rich #21                                                     2432289            814676
Rich #22                                                     2432290            814677
Rich #23                                                     2432291            814678
Rich #24                                                     2432292            814679
Rich #39                                                     2432293            814680
Rich 50                                                      2432298            814685
Rich 51                                                      2432299            814686
</TABLE>

                                     -2-
<PAGE>

<TABLE>
<CAPTION>
                                    WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                                         <C>                <C>
Rich 52                                                      2432300            814687
Jack 67A                                                     2516120            822239
Jack 77R                                                     2516119            822240
Rich 61                                                      2516129            822249
Rich 63                                                      2516131            822251
Rich 64                                                      2516132            822252
Rich 66                                                      2516134            822254
Rich 68                                                      2516136            822256
Rich 70                                                      2516138            822258
Rich 72                                                      2516140            822260
Rich 74                                                      2516142            822262
Rich 76                                                      2516144            822264
Rich 78                                                      2516146            822266
Rich 80                                                      2516148            822268
Rich 81                                                      2516149            822269
Rich 82                                                      2516150            822270
Rich 83                                                      2516151            822271
Rich 84                                                      2516152            822272
Rich 85                                                      2516153            822273
Rich 86                                                      2516154            822274
Rich 87                                                      2516155            822275
Rich 88                                                      2516156            822276
Rich 89                                                      2516157            822277
Rich 90                                                      2516158            822278
Rich 91                                                      2516159            822279
Rich 92                                                      2516160            822280
Rich 93                                                      2516161            822281
Rich 94                                                      2516162            822282
Rich 95                                                      2516163            822283
Rich 96                                                      2516164            822284
Rich 97                                                      2516165            822285
Rich 98                                                      2516166            822286
Rich 99                                                      2516167            822287
Rich 100                                                     2516168            822288
Rich 101                                                     2516169            822289
Rich 102                                                     2516170            822290
Rich 103                                                     2516171            822291
Rich 104                                                     2516172            822292
Rich 105                                                     2516173            822293
Rich 106                                                     2516174            822294
Rich 107                                                     2516175            822295
</TABLE>

                                     -3-
<PAGE>

<TABLE>
<CAPTION>
                                    WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                                         <C>                <C>
Rich 108                                                     2516176            822296
Rich 109                                                     2516177            822297
Rich 110                                                     2516178            822298
Rich 111                                                     2516179            822299
Rich 112                                                     2516180            822300
Rich 113                                                     2516181            822301
Rich 114                                                     2516182            822302
Rich 115                                                     2516183            822303
Rich 116                                                     2516184            822304
Rich 117                                                     2516185            822305
Rich 118                                                     2516186            822306
Rich 119                                                     2516187            822307
Rich 120                                                     2516188            822308
Rich 121                                                     2516189            822309
</TABLE>

                                     -4-
<PAGE>

                                    EXHIBIT C
                           TO MEMORANDUM OF AGREEMENT

                        MAVERICK SPRINGS AREA OF INTEREST

     The Maverick Springs Area of Interest includes all land situated within one
mile from the exterior boundary of the following unpatented mining claims as
they were located as of October 1, 2001:

<TABLE>
<CAPTION>

CLAIM  NAME                        BOOK    PAGE                   BLM SERIAL NUMBER
-----------------------------------------------------------------------------------
<S>                                <C>     <C>                        <C>
WILLOW #1                           968     784                        NMC - 754059
WILLOW #2                           968     785                        NMC - 754060
WILLOW #9                           968     792                        NMC - 754067
WILLOW #10                          968     793                        NMC - 754068
WILLOW #11                          968     794                        NMC - 754069
WILLOW #12                          968     795                        NMC - 754070
WILLOW #13                          968     796                        NMC - 754071
WILLOW #14                          968     797                        NMC - 754072
WILLOW #15                          968     798                        NMC - 754073
WILLOW #16                          968     799                        NMC - 754074
WILLOW #17                          968     800                        NMC - 754075
WILLOW #18                          968     801                        NMC - 754076
WILLOW #19                          968     802                        NMC - 754077
WILLOW #20                          968     803                        NMC - 754078
WILLOW #21                          968     804                        NMC - 754079
WILLOW #22                          968     805                        NMC - 754080
WILLOW #23                          968     806                        NMC - 754081
WILLOW #24                          968     807                        NMC - 754082
WILLOW #25                          968     808                        NMC - 754083
WILLOW #26                          968     809                        NMC - 754084
WILLOW #27                          968     810                        NMC - 754085
WILLOW #28                          968     811                        NMC - 754086
WILLOW #29                          968     812                        NMC - 754087
WILLOW #30                          968     813                        NMC - 754088
WILLOW #37                          968     814                        NMC - 754089
WILLOW #38                          968     815                        NMC - 754090
WILLOW #39                          968     816                        NMC - 754091
WILLOW #40                          968     817                        NMC - 754092
WILLOW #41                          968     818                        NMC - 754093
WILLOW #42                          968     819                        NMC - 754094
WILLOW #43                          968     820                        NMC - 754095
WILLOW #44                          968     821                        NMC - 754096
WILLOW #45                          968     822                        NMC - 754097
WILLOW #46                          968     823                        NMC - 754098
WILLOW #47                          968     824                        NMC - 754099
WILLOW #48                          968     825                        NMC - 754100
WILLOW #49                          968     826                        NMC - 754101
WILLOW #50                          968     827                        NMC - 754102
WILLOW #51                          968     828                        NMC - 754103
WILLOW #52                          968     829                        NMC - 754104
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

CLAIM  NAME                        BOOK    PAGE                   BLM SERIAL NUMBER
-----------------------------------------------------------------------------------
<S>                                <C>     <C>                        <C>
WILLOW #53                          968     830                        NMC - 754105
WILLOW #54                          968     831                        NMC - 754106
WILLOW 55                          1025     487                        NMC - 785303
WILLOW 56                          1025     488                        NMC - 785304
WILLOW 57                          1025     489                        NMC - 785305
WILLOW 63                          1025     495                        NMC - 785311
WILLOW 65                          1025     497                        NMC - 785313
WILLOW 66                          1025     498                        NMC - 785314
WILLOW 67                          1025     499                        NMC - 785315
WILLOW 68                          1025     500                        NMC - 785316
WILLOW 69                          1025     501                        NMC - 785317
WILLOW 70                          1025     502                        NMC - 785318
WILLOW 71                          1025     503                        NMC - 785319
MAVERICK #1                         968     832                        NMC - 754107
MAVERICK #3                         968     834                        NMC - 754109
MAVERICK #5                         968     836                        NMC - 754111
MAVERICK #7                         968     838                        NMC - 754113
MAVERICK #8                         968     839                        NMC - 754114
MAVERICK #9                         968     840                        NMC - 754115
MAVERICK #10                        968     841                        NMC - 754116
MAVERICK #11                        968     842                        NMC - 754117
MAVERICK #12                        968     843                        NMC - 754118
MAVERICK #13                        968     844                        NMC - 754119
MAVERICK #14                        968     845                        NMC - 754120
MAVERICK #15                        968     846                        NMC - 754121
MAVERICK #16                        968     847                        NMC - 754122
MAVERICK #17                        968     848                        NMC - 754123
MAVERICK #18                        968     849                        NMC - 754124
MAVERICK #39                        968     864                        NMC - 754140
MAVERICK #40                        968     865                        NMC - 754141
MAVERICK #41                        968     866                        NMC - 754142
MAVERICK #42                        968     867                        NMC - 754143
MAVERICK 524                       1025     475                        NMC - 785291
MAVERICK 526                       1025     477                        NMC - 785293
MAVERICK 528                       1025     479                        NMC - 785295
MAVERICK 529                       1025     480                        NMC - 785296
MAVERICK 530                       1025     481                        NMC - 785297
MAVERICK 531                       1025     482                        NMC - 785298
MAVERICK 67                           1   38907                        NMC - 826140
MAVERICK 68                           1   38908                        NMC - 826141
MAVERICK 69                           1   38909                        NMC - 826142
MAVERICK 70                           1   38910                        NMC - 826143
MAVERICK 71                           1   38911                        NMC - 826144
MAVERICK 72                           1   38912                        NMC - 826145
MAVERICK 73                           1   38913                        NMC - 826146
MAVERICK 74                           1   38914                        NMC - 826147
</TABLE>

                                     -2-
<PAGE>

                                    EXHIBIT D
                           TO MEMORANDUM OF AGREEMENT

                         MOUNTAIN VIEW AREA OF INTEREST

     The Mountain View Area of Interest includes all land within 0.5 miles of
the exterior boundary of the following unpatented mining claims, as they were
located as of June 30, 2000, and as generally depicted on Exhibit A to that
Lease/Option Agreement dated June 3, 2000, as amended on April 16, 2001 and
June 6, 2002, between Franco-Nevada Mining Corporation, Inc., and Raymond W. and
Leslie A. Wittkopp, a memorandum of which was recorded in the Washoe County
Recorder's Office on August 11, 2000, as Document 2472553.

<TABLE>
<CAPTION>
                                      WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK   PAGE           DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Mt. View #1                         1481    975               660347            142372
Mt. View #2                         1481    976               660348            142373
Mt. View #3                         1481    977               660349            142374
Mt. View #4                         1481    978               660350            142375
Mt. View #5                         1632    124               739181            196207
Mt. View #6                         1644    549               745360            202456
Big R #1                            1646    913               746334            203087
Jack 1                              1797    724               821242            253233
Jack 2                              1797    725               821243            253234
Jack 3                              1797    726               821244            253235
Jack 4                              1797    727               821245            253236
Jack 5                              1797    728               821246            253237
Jack 6                              1797    729               821247            253238
Jack 7                              1797    730               821248            253239
Jack 8                              1797    731               821249            253240
Jack 9                              1797    732               821250            253241
Jack 10                             1797    733               821251            253242
Jack 11                             1797    734               821252            253243
Jack 12                             1797    735               821253            253244
Jack 13                             1797    736               821254            253245
Jack 14                             1797    737               821255            253246
Jack 15                             1797    738               821256            253247
Jack 35                             1797    758               821276            253267
Jack 38                             1797    761               821279            253270
Jack 63                             1797    786               821304            253295
Jack 64                             1797    787               821305            253296
Jack 65                             1797    788               821306            253297
Jack 66                             1797    789               821307            253298
Jack 67                             1797    790               821308            253299
Jack 68                             1797    791               821309            253300
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                      WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                          BOOK   PAGE           DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                <C>     <C>               <C>               <C>
Jack 69                             1797     792              821310            253301
Jack 70                             1797     793              821311            253302
Jack 71                             1797     794              821312            253303
Jack 72                             1797     795              821313            253304
Jack 73                             1797     796              821314            253305
Jack 74                             1797     797              821315            253306
Jack 75                             1797     798              821316            253307
Jack 76                             1797     799              821317            253308
Jack 77                             1797     800              821318            253309
Jack 78                             1797     801              821319            253310
Jack 79                             1797     802              821320            253311
Jack 80                             1797     803              821321            253312
Jack 81                             1797     804              821322            253313
Jack 82                             1797     805              821323            253314
Jack 83                             1797     806              821324            253315
Jack 84                             1797     807              821325            253316
Jack 85                             1797     808              821326            253317
Jack 86                             1797     809              821327            253318
Jack 87                             1797     810              821328            253319
Jack 88                             1797     811              821329            253320
Jack 89                             1797     812              821330            253321
Jack 90                             1797     813              821331            253322
Jack 91                             1797     814              821332            253323
Jack 92                             1797     815              821333            253324
Jack 93                             1797     816              821334            253325
Jack 94                             1797     817              821335            253326
Jack 95                             1797     818              821336            253327
Jack 96                             1797     819              821337            253328
Harlan #1                           1796     876              820863            253656
Lara #1                             1796     878              820865            253657
Rich #13                                                     2432283            814670
Rich #14                                                     2432284            814671
Rich #15                                                     2432285            814672
Rich #16                                                     2432286            814673
Rich #17                                                     2432287            814674
Rich #18                                                     2432288            814675
Rich #21                                                     2432289            814676
Rich #22                                                     2432290            814677
Rich #23                                                     2432291            814678
Rich #24                                                     2432292            814679
Rich #39                                                     2432293            814680
</TABLE>

                                     -2-
<PAGE>

<TABLE>
<CAPTION>
                                      WASHOE COUNTY
--------------------------------------------------------------------------------------
                                                                            BLM SERIAL
                                                                                NUMBER
CLAIM NAME                                                DOCUMENT #           ("NMC")
--------------------------------------------------------------------------------------
<S>                                                         <C>                <C>
Rich #41                                                     2432294            814681
Rich #43                                                     2432295            814682
Rich #45                                                     2432296            814683
Rich #47                                                     2432297            814684
Rich 50                                                      2432298            814685
Rich 51                                                      2432299            814686
Rich 52                                                      2432300            814687
</TABLE>

                                     -3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}]]