Pretivm Reports Second Quarter Results - Seite 2

On March 27, 2015, our Environmental Assessment Certificate for the Brucejack Project was issued by the British Columbia Minister of the Environment and Minister of Energy and Mines. The Ministers issued the certificate with conditions that have given them the confidence to conclude that the Brucejack Project will be constructed, operated and decommissioned in a way that ensures no significant adverse effects are likely to occur. We are addressing these conditions in advance of the start of mine construction which we expect to begin this summer.

On July 30, 2015, we received a positive Environmental Assessment Decision Statement from the federal Minister of the Environment. The Decision Statement found that the Brucejack Project is not likely to cause significant adverse environmental effects. The Minister issued a Project Recommendation that includes a determination regarding the potential effects of the Project under the Nisga'a Final Agreement.

In reaching the Decision, the Minister considered the Project Recommendation and the Canadian Environmental Assessment Agency's ("CEAA") Environmental Assessment Report. The Report includes CEAA's conclusions and recommendations on the potential environmental effects of the project, the proposed mitigation measures, the significance of any remaining adverse environmental effects and the follow-up program.

Advancing the Brucejack Project - Engineering

Basic and detailed engineering activities have been ongoing following the completion in June 2014 of the updated National Instrument 43-101-compliant feasibility study for the Brucejack Project. AMEC was awarded the EPCM contract in 2014 and continues to work on engineering and procurement. With our receipt of the federal Environmental Assessment Decision Statement, we are awarding contracts including bulk earthworks, transmission line and long lead items. Contractors will be mobilizing to site on an ongoing basis, with construction activities commencing shortly.

Construction Financing

The funding to construct and develop the Brucejack Project is being finalized in support of the start of construction.

Exploration

A 40,000-meter infill drill program is underway in the Valley of the Kings. The program currently comprises 32 drill fans from three drill stations and has been planned to target stope areas in years 1 through 3 of the current mine plan (1320-meter level to 1200-meter level). The primary purpose of the drilling is grade control, with the additional benefit of infill drilling inferred and non-stope indicated resources in the same area. Two drills are working, with three drills planned in total for the program, which is expected to be completed by year-end.