Pretivm Reports Third Quarter Results - Seite 3

On August 31, 2015, we were issued an Environmental Management Act Permit by the British Columbia Ministry of Environment for our Brucejack Project which governs effluent discharge during construction and operation.

Construction Financing

On September 21, 2015, we completed a US$540 million construction financing with Orion and Blackstone. The Financing provided immediate access to US$340 million and will fund a substantial portion of the costs to develop an underground mine at the Brucejack Project. The Financing was comprised of a credit facility for US$350 million, a US$150 million prepayment under a callable gold and silver stream agreement and a private placement of our common shares for US$40 million (see news release dated September 15, 2015).

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. All long lead items have been ordered, including the ball mill, SAG mill, and transformers. Construction power generators have been delivered to site and commissioned. Detailed project engineering continues along with an evaluation and review of the capital cost budget. An updated capital cost estimate is expected in the fourth quarter of 2015.

Construction Progress

Construction at the Brucejack Project commenced on September 5, 2015. Activities are currently focused on bulk earth works, including the pads for the permanent camp and mill building, in preparation for facilities construction in the spring of 2016. Additional construction activities at site have included the excavation of diversion ditches and contact water pond and the widening of the haul road to accommodate construction traffic. The permanent camp has been fabricated offsite and is expected to be assembled on site in the first half of 2016.

During the quarter, transmission line right-of-way clearing commenced and the contract for the transmission line towers was issued.

Underground development was ongoing throughout the third quarter, with an initial focus on underground exploration development. With the receipt of final mine development permits, the focus switched to the development of mine infrastructure. Prior to the end of the quarter, the pre-production underground development contract was awarded to Cementation Canada Inc.