Solvista Gold Corporation
TSX VENTURE : SVV

Solvista Gold Corporation

May 16, 2011 10:34 ET

Solvista Gold to Commence Trading on the TSX Venture Exchange Under the Symbol "SVV" on May 16, 2011

TORONTO, ONTARIO--(Marketwire - May 16, 2011) -

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Solvista Gold Corporation ("Solvista") (TSX VENTURE:SVV) is pleased to announce that its common shares have been approved for listing by the TSX Venture Exchange ("TSX-V") and that trading of the shares will commence today, May 16, 2011, under the symbol "SVV".

"I would personally like to thank the Solvista team for working diligently on the amalgamation and subsequent listing on the TSX-V," said Michael Johnson, President and CEO of Solvista. Mr. Johnson added, "I look forward to working with our new team to develop Solvista's promising Colombian projects and move the company to the next stage."

Solvista was initially a wholly-owned subsidiary of Norvista Resources Corporation ("Norvista"), a private resource-oriented merchant bank based in Toronto. In June 2010, as the result of an association agreement between Norvista and Bullet Holding Corp. ("Bullet"), Solvista acquired a 100% interest in two large, highly prospective gold exploration properties within the Province of Antioquia, historically the most prolific gold producing area in Colombia. Further to a press release dated May 11, 2011, Solvista completed a private placement financing which raised gross proceeds of CDN$2,735,297 (the "Offering"). Kinross Gold Corporation ("Kinross") purchased all 3,647,063 units pursuant to the Offering, which represents approximately 9.9% of Solvista's issued and outstanding share capital on a partially diluted basis. Solvista has also granted Kinross the right to maintain its percentage ownership during future financings for a period of two years following completion of the Offering. Taken together, Kinross, Norvista and Bullet are the major shareholders of Solvista, representing, in the aggregate, approximately 38.8% of the issued and outstanding shares.

Summary of the Projects

The Caramanta project is located at the center of the Middle Cauca Belt, a north-south trending belt that has been the focus of exploration and development efforts by a number of exploration companies, and which is the location of the La Colosa (AngloGold Ashanti Limited), Marmato (Medoro Resources Ltd.) and Buriticá (Continental Gold Limited) exploration and development projects. The geological environment is considered favorable for the development of gold rich porphyry systems as well as higher grade, structurally controlled precious metals deposits. Previous work in the project area identified a number of areas with historic underground workings as well as visible gold in pan concentrate sampling and outcropping alteration with related sulfide mineralization. Preliminary exploration by Solvista has identified the potential for large, potentially bulk mineable, porphyry gold systems.

The Guadalupe project is located to the northeast of Medellín and covers an area underlain by the Antioquia Batholith, and its contact is the late Cretaceous San Pablo Formation, a volcano-sedimentary sequence considered to represent "flysch" deposits in geosynclines in costal basins. This diverse geology has allowed the formation of distinct mineralizing systems, including: precious metals dominated, structurally controlled zones within the Antioquia Batholith and base metal dominated (Cu and Zn rich) and epithermal style, gold prospects within the San Pablo Formation.

Canadian Securities Administrators National Instrument 43-101 ("NI 43-101") compliant technical reports have been completed by Scott Wilson Roscoe Postle Associates Inc. for both projects and along with additional information can be found at Solvista's website: www.solvistagold.com or under Solvista's SEDAR profile at www.sedar.com.

Technical Information

The results of Solvista's exploration programs have been reviewed, verified and compiled by Chief Operating Officer, EurGeol Miller O'Prey P.Geo., a qualified person as defined by NI 43-101. Mr. O'Prey is not independent of Solvista as he is a senior officer of Solvista.

Solvista utilizes an industry-standard QA/QC program. Rock and stream sediment samples are prepared at a preparation facility in Medellín run by SGS Colombia S.A, ("SGS"). Samples are then shipped for analysis to the SGS certified assay laboratory in Lima, Peru. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance and a portion of the samples are periodically check assayed at Acme Analytical Laboratories Ltd. ("Acme") in Vancouver. Soil samples are prepared at a preparation facility in Medellín run by Acme before being shipped to Vancouver for analysis.

About Solvista

Solvista is an early-stage exploration company with two gold projects covering approximately 75,000 hectares in the Antioquia province of Colombia. Solvista is well funded and led by a management team with over 45 years of exploration and mining experience, principally in South and Central America. Solvista's head office is located in Toronto with its Colombian headquarters located in Medellín. For further details on Solvista, its management team and its projects, please refer to Solvista's web site (www.solvistagold.com). Solvista's Canadian regulatory filings can be found on SEDAR at www.sedar.com.

CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista's objectives, goals or future plans, the timing and the of completion of the Financing, the receipt of TSX-V approval in respect of the Financing, the timing of the commencement of trading of Solvista's shares on the TSX-V, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in Solvista's public documents filed on SEDAR. Although Solvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Solvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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