Pretivm Reports Second Quarter 2016 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 10, 2016) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to report the following highlights from the second quarter of 2016 and updates for its high-grade gold Brucejack Project in northern British Columbia.

Second Quarter 2016 Highlights

• During the quarter the 2015/2016 underground infill drill program continued to confirm the style and grade distribution of the Valley of the Kings gold mineralization and continued to intersect high grade and visible gold (see news releases dated April 5, 2016, April 26 and May 16, 2016).
• On May 31, 2016, we announced the remaining results from the completed underground infill program, which totalled 63,444 meters in 364 drill holes. The 2015/2016 infill drill program returned 49 intersections grading greater than 1,000 grams of gold per tonne, including the bonanza-grade intercept in hole VU-722 which encountered 37,117 grams of gold per tonne uncut over 0.5 meters.
• On June 1, 2016, we announced a private placement of 437,000 flow-through common shares of the Company at a price of $11.45 per flow-through share which was completed in two tranches, June 6 and June 22, 2016. In connection with the private placement Orion Co-Investments (ED) Limited exercised its participation rights to maintain its respective proportionate ownership interest in the Company for combined total gross proceeds to Pretivm of $5.1 million. The proceeds of the private placement of flow-through common shares are being used to fund grass-roots exploration approximately 15 kilometers east of the mine construction underway at the Brucejack Project. The grass-roots program, which comprises regional geophysics and surface drilling, is following up on previously defined anomalies.
• On April 18 and June 29, 2016, we reported on the progress of site construction activities at the Brucejack Project including the mill facility, camp, underground development and transmission line.
• Working capital at June 30, 2016 was $313.8 million.
• Subsequent to the end of the quarter, on July 21, 2016 we announced an updated Mineral Resource estimate for the Valley of the Kings. Measured and Indicated Mineral Resources in the Valley of the Kings now total 9.1 million ounces of gold (16.4 million tonnes grading 17.2 grams per tonne gold), an increase from the December 2013 Valley of the Kings Mineral Resource estimate.

Advancing the Brucejack Project - Construction Progress