Continues Option Agreement

Toronto, Ontario--(Newsfile Corp. - January 26, 2015) - Solvista Gold
Corporation (TSXV: SVV) (OTCQX: SVVZF)
("Solvista" or the "Company") announces it has received notification that IAMGOLD Corporation ("IAMGOLD") has
recently completed their 2014 budgeted exploration activities on Solvista's
Caramanta project in Colombia.


In addition, Solvista announces that IAMGOLD has delivered to
the Company the first option renewal payment of US$250,000 pursuant to the
option agreement with IAMGOLD announced by the Company on March 17, 2014.
IAMGOLD also informed the Company that it met the 2014 required expenditure
level under the option agreement. The primary terms of the option agreement
between the Company and IAMGOLD were described in the Company's press release
dated March 17, 2014. Expansion of, and changes to that agreement now involving
the Company, IAMGOLD and Tolima Gold Inc. were announced in the Company's press
release dated September 15, 2014.


In order for IAMGOLD to earn a 51% interest in the Caramanta
project pursuant to the expanded option agreement IAMGOLD must, among other
things, spend a minimum of US$20,000,000 and make certain option payments to the
Company. IAMGOLD may increase its ownership in the project to 70% under the
agreement by spending a total of US$40,000,000. A more complete summary of the
terms is available on SEDAR and on the Company's website.


Commenting on the option renewal for 2015 and the work
completed by IAMGOLD, Solvista's President and CEO, Bruce Durham, stated "We
have had the pleasure of working with IAMGOLD for almost a year now and we
continue to be impressed with the professionalism and hard work completed by
their personnel in both Toronto and Colombia. Given the current state of the
capital markets we are very pleased that IAMGOLD has elected to continue with
the option agreement".


Diamond drilling completed by IAMGOLD tested targets initially
discovered and drill tested by Solvista and also newly developed target areas in
search of gold and copper mineralization within the Company's Caramanta Porphyry
Cluster (the "CPC").


Highlights

IAMGOLD has been working on the Caramanta project since entering into an
agreement with Solvista in December 2013 (Press Release December 18, 2013).
Initial work beyond compilation of data included expanded stream sediment,
soil, and rock chip sampling over a variety of areas on the Caramanta property
both inside of and outside of the CPC.
Geophysical surveys comprised of magnetic surveying and induced
polarization ("IP") surveying were carried out to fill in gaps in Solvista's
coverage of the CPC.
Using Solvista's data, and the new data, drill targets were selected
within the northern half of the CPC where drill permit could be acquired
rapidly.
Diamond drilling in this first diamond drill program consisted of 3,840
meters in 14 drill holes. The holes were drilled primarily at the Ajiaco Sur,
Casa Verde and Malabrigo targets.
The Company will report on the results of the diamond drilling program
once it has received all of the assay data from IAMGOLD.
Prior to IAMGOLD's involvement Solvista made discoveries on the El Reten
and Ajiaco Sur targets. Only 2 holes were completed by IAMGOLD on the Ajiaco
Sur target and no drilling was carried out on El Reten (see information on DMI
below).


IAMGOLD Exploration Plans


Due to the previously announced restrictions within the area
referred to as a district of integrated management ("DMI") (see information
below), which restricts activity in southern half of the CPC (El Reten and
Ajiaco Sur), no drilling was carried out by IAMGOLD on these key target areas
during 2014. Prior to entering the option agreement with IAMGOLD in March 2014,
diamond drilling by Solvista in some of these key target areas returned long
drill intervals of copper gold porphyry style mineralization This included El
Reten where drill hole CAD-12-18 assayed 1.01 g/t gold and 0.21% copper over a
core length of 456.7 meters.


IAMGOLD is working to secure a permit to resume drilling within
the DMI. Timing of receipt of the permit will dictate the location and sequence
of drill holes in the upcoming 2015 program budgeted at US$1,500,000.


The scientific and technical information contained in this
press release has been reviewed by the Company's President and CEO, Mr. Bruce
Durham, P.Geo., who is a "Qualified Person" as such term is defined under
National Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101").


About the Project


The Project is located at the centre of the Middle Cauca Belt,
one of the most prolific gold districts in Colombia, with production dating back
to pre-Colonial times. The Middle Cauca Belt has been the focus of intense
exploration over the past five years with a number of new discoveries including
La Colosa (Anglogold Ashanti), a porphyry-gold deposit with a JORC-compliant
Inferred Resource of 24.15 Moz Au at 0.94 g/t Au. Directly south of the Project
is Gran Colombia Gold's Marmato Project with NI 43-101 compliant Measured and
Indicated Resources of 11.8 Moz Au at 0.9 g/t Au and 80 Moz Ag at 6.1 g/t Ag and
Inferred Resources of 2.6 Moz Au at 1.02 g/t Au and 9 Moz Ag at 3.7 g/t Ag. To
the north of the Project is Sunward Resources' Titiribi deposit where a NI
43-101 compliant Measured and Indicated Resource of 6.2 Moz AuEq and Inferred
Resource of 6.5 Moz AuEq have been announced (based on information from public
sources).


District of Integrated Management (DMI)


Three of the Caramanta project's multiple targets (El Reten, El
Corral and Ajiaco Sur) are located within a regional environmental designation
referred to as a district of integrated management ("DMI"). Under the terms of
the DMI there is currently a prohibition against open pit mining within the DMI.
IAMGOLD has filed an application with the regional environmental authority,
Corantioquia, requesting permission to carry out drilling within the DMI. It is
uncertain when permission will be granted or whether Corantioquia will request
further environmental studies prior to considering further the application. At this time the original effort by Solvista to remove the DMI
designation has been stopped. That effort will not be restarted until more is
known about the ultimate potential footprint of a development in the CPC.


Under the Option Agreement IAMGOLD had the right to declare
force majeur on the first anniversary date should it not have received
permission to drill within the DMI. The parties agreed to terms for an amendment
now in preparation that allows IAMGOLD to continue exploration activities on the
project and delay a decision to declare force majeur. The principal terms
halve the year 2 minimum work expenditure to US$1,500,000 and extend the term of
the First Option by a year to 6 years.


About Solvista


Solvista is a gold exploration company with two projects,
Caramanta and Guadalupe located in Colombia, South America. These two projects
cover approximately 44,000 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. Solvista is well funded and has completed
initial drill programs at both its projects, with the discovery of significant
mineralization at both. Solvista's head office is located in Toronto, Canada.
For further details on Solvista, its management team and its projects, please
refer to Solvista's website (www.solvistagold.com).


For further information, please contact:



Bruce Durham, P.Geo
Don Christie, CPA


Chief Executive Officer
Chief Financial Officer


Solvista Gold Corporation
Solvista Gold Corporation


416 504 8821
+1 416 504 4171


bdurham@solvistagold.com
dchristie@solvistagold.com