Solvista Gold Corporation Confirms New Gold-Silver Discovery in Colombia

Solvista Gold Corporation ("Solvista" or the "Company") (TSX
VENTURE:SVV)(OTCQX:SVVZF) is pleased to announce the results from its Phase 1
drill program at its Guadalupe Project, located 150 km northeast from its
exciting Caramanta Project. The results confirm the high-grade gold-silver
discovery at El Oso and support the Company's belief that the Guadalupe Project
could host significant, structurally-controlled, gold-silver mineralization.
Guadalupe is Solvista's second project and is separate from its Caramanta
Project, where the Company has been drilling since June 2012 and on September
17, 2012 (http://www.solvistagold.com/news/2012/september17/) announced the
discovery of porphyry-style, gold-copper mineralization. The Company has now
confirmed the presence of gold mineralization on both its Caramanta and
Guadalupe Projects in just over 18 months after becoming a public company, and
is very pleased to have two projects that could generate significant shareholder
value going forward through 2013.


Highlights



--  Two drill holes were completed on the El Oso 2 target, 150 metres apart,
    and returned 18.35 g/t gold (Au) over 2.77 metres in GUD-1214 and 9.29
    g/t Au over 1.92 metres in GUD-1213; 
    
--  Four drill holes were completed on the El Oso 1 target, over 750 metres
    of strike length, and returned 6.25 g/t Au over 0.99 metres in drill
    hole GUD-1209 and 3.02 g/t Au and 169.77 g/t Ag over 2.10 metres in GUD-
    1211; 
    
--  Positive results also intersected on other target areas where more
    drilling is warranted.



Commenting on the drill results, Solvista's President and CEO Miller O'Prey
stated, "We are very happy to be announcing the results from the initial drill
program at the Guadalupe Project. This program was designed to test a number of
anomalous areas within the large Guadalupe Project, as well as to enhance the
Company's understanding of the geology and controls on mineralization in an area
of little outcrop. In the El Oso area we have now proven the existence of two
discrete, parallel structural trends, up to 750 metres long (in the case of El
Oso 1), as well as identified mineralization not seen at surface. Within these
structural trends it appears that multiple mineralized structures are present." 



The exploration plans for the Guadalupe Project during 2013 include:



--  Definition of a Phase 2, follow-up drill program to define the nature
    and extent of mineralization identified in Phase 1; 
--  Ongoing regional exploration across the northern portion of the property
    to identify new drill targets. 



Details 

The Guadalupe Project Phase 1 drill program was completed during 2012 and
comprised 14 drill holes, two of which did not reach their target depth and had
to be re-drilled, for a total of 3,060 metres. In total, five distinct target
areas were tested over a 3 x 2 kilometre area in the southern portion of the
Guadalupe Project. 


El Oso 2 

Drill holes GUD-1213 and GUD-1214 were drilled to test the down dip continuity
of the high-grade, gold-silver mineralization discovered at surface within the
El Oso 2 structural trend (21 samples with a weighted average of 14.27 g/t Au,
6.6 g/t Ag, using a 50 g/t Au upper cutoff), the southernmost zone within the
structural corridor in the El Oso area (see Figure 1). Both drill holes, located
150 metres apart, intersected the targeted mineralization with drill hole
GUD-1214 intersecting 18.35 g/t Au and 2.7 g/t Ag over 2.77 metres (see Figure
2) and drill hole GUD-1213 intersecting 9.29 g/t Au over 1.92 metres.
Mineralization is typically epithermal-style composite quartz-sulfide veins and
sulfide bearing breccias and remains open both along strike and down dip. This
target is considered the highest priority for additional drilling.


El Oso 1 

Drill holes GUD-1208, GUD-1209, GUD-1211 and GUD-1212 were drilled to test the
down dip continuity of the high-grade, gold-silver mineralization discovered at
surface within the El Oso 1 structural trend (132 samples with a weighted
average of 3.29 g/t Au, 59.8 g/t Ag cut to 50 g/t Au and 500 g/t Ag), the
northernmost of two discrete structural trends within the El Oso corridor. The
four completed drill holes were evenly spaced along the known 750 metre strike
length of the El Oso 1 structural corridor, as defined by surface mapping, rock
chip geochemical analyses and historic artisanal mining. All of these drill
holes intersected significant gold-silver mineralization including 6.24 g/t Au
and 5.0 g/t Ag over 0.99 metres in GUD-1209 and 4.39 g/t Au and 4.1 g/t Ag over
2.65 metres in GUD-1211. Interestingly, both of these drill holes also
intersected separate, discrete intervals with lower grade gold and high-grade
silver such as 3.02 g/t Au and 169.8 g/t Ag over 2.10 metres in GUD-1211. The
mineralization is similar in style to El Oso 2, although slightly different
geochemically, and remains open both along strike and down dip. This target is
also considered a very high priority for additional drilling.


Other Drill Targets 

A total of three other targets were partially drill tested in 2012 including the
Campo Alegre North target (a high chargeability as well as a number of +1 g/t Au
rock chip samples from surface mapping and sampling) where GUD-1204 intersected
7.00 g/t Au and 6.60 g/t Ag over 0.65 metres within 2.42 metres averaging 2.87
g/t Au, 2.7 g/t Ag, which appears to be the down dip extension of the higher
grade, composite vein and fracture-controlled mineralization seen at surface.
Further drilling is recommended in this target area as well.  


Table 1 includes all significant intervals of gold-silver mineralization and
Table 2 gives drill hole location information. Only intervals with greater than
1 gram/metre gold or 100 grams/metre silver are included. Figure 1 shows the
location of the drill holes on an Induced Polarization survey (chargeability)
background.




                                                                            
Table 1                                                                     
                                                                            
----------------------------------------------------------------------------
                       Drill Hole     From       To   Length      Au      Ag
Target Area                Number      (m)      (m)      (m)   (g/t)   (g/t)
----------------------------------------------------------------------------
Campo Alegre South       GUD-1202   158.50   161.50     3.00    1.04    1.41
                      ------------------------------------------------------
                         GUD-1202   231.20   232.20     1.00    1.35    0.27
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                         GUD-1204    95.00    98.00     3.00    2.31    2.24
                      ------------------------------------------------------
                        including    95.55    96.20     0.65    7.00    6.60
                      ------------------------------------------------------
                         GUD-1204   102.00   109.00     7.00    0.64   10.77
                      ------------------------------------------------------
                      ------------------------------------------------------
Campo Alegre North       GUD-1205     5.50     6.50     1.00    1.22    1.06
                      ------------------------------------------------------
                         GUD-1205    12.95    14.85     1.90    0.97    0.87
                      ------------------------------------------------------
                      ------------------------------------------------------
                         GUD-1206   105.20   106.58     1.38    0.87    3.78
                      ------------------------------------------------------
                         GUD-1206   146.70   147.60     0.90    1.22    0.09
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                         GUD-1208   168.40   169.00     0.60    1.70    0.70
                      ------------------------------------------------------
                         GUD-1208   208.90   211.55     2.65    1.08   40.57
                      ------------------------------------------------------
                      ------------------------------------------------------
                         GUD-1209    48.76    52.10     3.34    1.40   26.88
                      ------------------------------------------------------
                         GUD-1209   119.40   122.10     2.70    3.91    2.47
                      ------------------------------------------------------
                        including   119.40   120.39     0.99    6.24    5.03
                      ------------------------------------------------------
El Oso 1                 GUD-1209   213.60   214.70     1.10    0.59   90.92
                      ------------------------------------------------------
                      ------------------------------------------------------
                         GUD-1211    55.06    65.53    10.47    1.18    3.39
                      ------------------------------------------------------
                         GUD-1211    98.96   100.66     1.70    2.70    1.91
                      ------------------------------------------------------
                         GUD-1211   158.80   160.90     2.10    3.02  169.77
                      ------------------------------------------------------
                         GUD-1211   174.15   178.20     4.05    3.02    3.08
                      ------------------------------------------------------
                        including   176.48   177.35     0.87    6.48    5.81
                      ------------------------------------------------------
                      ------------------------------------------------------
                         GUD-1212   177.80   178.42     0.62   0.232   152.0
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                         GUD-1213    96.01    97.00     0.99    2.52    0.48
                      ------------------------------------------------------
                         GUD-1213   146.10   147.50     1.40    5.68    1.41
                      ------------------------------------------------------
                         GUD-1213   163.79   165.71     1.92    9.29    3.46
                      ------------------------------------------------------
                      ------------------------------------------------------
                         GUD-1214    69.35    70.25     0.90    1.55    1.03
                      ------------------------------------------------------
                         GUD-1214   106.84   107.73     0.89    4.18    0.73
                      ------------------------------------------------------
El Oso 2                 GUD-1214   110.85   117.14     6.29    8.46    1.47
                      ------------------------------------------------------
                        including   110.85   113.62     2.77   18.35    2.72
                      ------------------------------------------------------
                         GUD-1214   120.06   121.12     1.06    0.96    0.29
                      ------------------------------------------------------
                         GUD-1214   132.36   133.68     1.32    1.01    0.25
                      ------------------------------------------------------
                         GUD-1214   149.70   151.02     1.32    1.23    0.44
                      ------------------------------------------------------
                         GUD-1214   192.30   194.41     2.11    4.07   20.73
----------------------------------------------------------------------------
Table 1. Significant drill hole intercepts from the Phase 1 Guadalupe       
drilling program.                                                           



It should be noted that drill hole GUD-1201 was terminated prior to reaching its
target depth, as discussed in the Company's February 29th 2012 press release
(http://www.solvistagold.com/news/2012/february29/). Drill hole GUD-1204 was
drilled to replace GUD-1201. Likewise drill hole GUD-1210 was terminated prior
to reaching its target depth and drill hole GUD-1211 was drilled to replace it.
No significant intervals were intersected in drill holes GUD-1203 (Campo Alegre
South) and GUD-1207 (El Mango).




                                                                            
Table 2                                                                     
                                                                            
----------------------------------------------------------------------------
Drill Hole   East UTM  North UTM  Elevation   Azimuth    Plunge Total Length
Number     Coordinate Coordinate (m.a.s.l.) (degrees) (degrees)     (metres)
----------------------------------------------------------------------------
GUD-1201      476,592    752,412        954        35       -50        57.45
----------------------------------------------------------------------------
GUD-1202      476,554    751,952      1,158        40       -50       300.83
----------------------------------------------------------------------------
GUD-1203      476,731    751,501      1,253        50       -50       216.45
----------------------------------------------------------------------------
GUD-1204      476,592    752,412        954        35       -50       295.65
----------------------------------------------------------------------------
GUD-1205      476,592    752,412        954        35       -50       226.16
----------------------------------------------------------------------------
GUD-1206      477,159    751,840      1,160       210       -60       300.22
----------------------------------------------------------------------------
GUD-1207      474,753    751,268      1,361       220       -50       263.95
----------------------------------------------------------------------------
GUD-1208      477,838    751,446      1,210        40       -51       235.50
----------------------------------------------------------------------------
GUD-1209      478,029    751,286      1,283        40       -50       227.07
----------------------------------------------------------------------------
GUD-1210      478,219    751,206      1,351        40       -55        28.95
----------------------------------------------------------------------------
GUD-1211      478,219    751,206      1,351        40       -65       280.41
----------------------------------------------------------------------------
GUD-1212      477,565    751,590      1,159        40       -50       246.88
----------------------------------------------------------------------------
GUD-1213      477,712    751,226      1,230        40       -50       213.36
----------------------------------------------------------------------------
GUD-1214      477,594    751,312      1,229        30       -50       200.48
----------------------------------------------------------------------------
Table 2. Drill hole location data for drill holes GUD-1201 to GUD-1214.     
Coordinates are UTM WGS 84, Zone 18N datum.                                 



Field work at the Guadalupe Project is ongoing and includes mapping and rock and
vein sampling, stream sediment sampling and soil sampling (conventional soil
samples and MMI samples) to identify new areas for drill testing in the
Company's future drilling programs. 


Quality Control and Assurance 

The Company utilizes an industry-standard Quality Assurance/Quality Control
program for the taking and analyzing of samples. Rock, drillcore, soil (MMI) and
stream sediment samples are prepared at a preparation facility in Medellin run
by SGS Colombia or ALS Colombia Ltda. Samples are then shipped for analysis to
the SGS del Peru S.A.C. or ALS Peru Ltda. certified assay laboratory in Lima,
Peru. Gold values were determined by fire assay with an atomic absorption finish
on 30 gram samples; other elements were analyzed with a 4 acid digestion and an
ICP-MS finish. Blanks, duplicates and certified reference standards are
routinely inserted into the sample stream to monitor laboratory performance and
a portion of the samples are periodically check assayed at ACME Laboratories in
Vancouver, British Columbia. 


The scientific and technical information contained in this news release has been
reviewed by Mr. Miller O'Prey P.Geo., who is the President and CEO of the
Company and a "Qualified Person" as defined under National Instrument 43-101. 


About The Guadalupe Project 

The Guadalupe Project consists of approximately 40,000 hectares, and is situated
approximately 110 km northeast of Medellin. Geologically, the property is
located along the northern contact of the Antioquia Batholith, a known historic
gold producer and host to the AnglogoldAshanti/B2Gold Gramalote project (M&I
Resources of 2.5 Moz at 0.81 g/t Au, plus Inferred Resources of 1.4 Moz at 0.44
g/t Au) and Red Eagle's Santa Rosa project. To the north of the Antioquia
Batholith is the Cretaceous aged San Pablo Formation; a flysch sequence of mixed
basic volcanics and clastic sediments, known to host both precious and base
metal mineralization.


About Solvista 

Solvista is a gold exploration company with two projects, Caramanta and
Guadalupe. These projects cover approximately 60,000 hectares in the Antioquia
province of Colombia, a region rich in historic gold mining tradition and where
several new gold discoveries have recently been made. Drill programs conducted
during 2012 confirmed the presence of significant gold mineralization at both
its projects, with drilling ongoing at Caramanta. Solvista's head office is
located in Toronto with its Colombian headquarters located in Medellin. For
further details on Solvista, its management team and its projects, please refer
to Solvista's website (www.solvistagold.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, 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.


To view "Figure 1: Drill hole collars and traces for the 2012 Guadalupe Phase 1
drill program, highlighting the targets drilled, with IP Chargeability model at
130 m depth overlain with surface rock samples", please visit the following
link: http://media3.marketwire.com/docs/846464_Figure1.pdf.


To view "Figure 2: Schematic cross-section through drill hole GUD-1214, showing
relationship between gold identified in surface rock-chip samples and the drill
hole", please visit the following link:
http://media3.marketwire.com/docs/846464_Figure2.pdf.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Solvista Gold Corporation
Miller O'Prey, PGeo
President and CEO
[phone]
[e-mail]


Solvista Gold Corporation
Don Christie, CA
Chief Financial Officer
[phone]
[e-mail]
www.solvistagold.com