Zijin Mining Group C$81 Million Strategic Investment in Pretivm

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that Zijin Mining Group Co., Ltd. ("Zijin") has agreed to make a strategic investment in the Company which will result in Zijin owning approximately 9.9% of Pretivm's issued and outstanding shares. Pretivm has agreed to issue to Zijin by way of a private placement 12,836,826 common shares of the Company (the "Purchased Shares") at a price per share of C$6.30 for gross proceeds of approximately C$80,872,004 (the "Offering"). Zijin is a Shanghai and Hong Kong listed company with extensive interests across a broad range of commodities, and is the largest gold producer in China.

The Offering constitutes a significant portion of the planned equity component of the financing required to bring the Brucejack Project into production. Pretivm intends to use the proceeds from the Offering to fund capital expenditures including the procurement of long-lead items and camp infrastructure. The permitting process for a 2,700 tonne-per-day underground mine at Brucejack is currently underway.

"Zijin's investment positions us well at a critical stage in our advance to production," said Pretivm's CEO Robert Quartermain. "Zijin is a well-capitalized shareholder, and as fellow shareholders, we value their long-term outlook and commitment to gold and to the successful development of our Brucejack Project as a high-grade gold mine."

The Offering is scheduled to close on or about January 16, 2015, subject to regulatory approvals and approvals from the Chinese government or its relevant authorized departments. Pursuant to the subscription agreement, Zijin will be entitled to nominate one person to be appointed to the board of directors of Pretivm and will have a pre-emptive right to participate in any future equity financings of Pretivm to maintain its approximately 9.9% interest.

The Purchased Shares may not be traded for a period of four months plus one day from the closing of the Offering. The Purchased Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.