Pretivm Reports Fourth Quarter and Year End 2016 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 9, 2017) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to report the following highlights from the fourth quarter of 2016 and updates for its high-grade gold Brucejack mine in northern British Columbia.

Highlights

• On December 15, 2016, we announced an updated Mineral Reserve estimate for Brucejack's Valley of the Kings deposit, with an increase in Proven and Probable Mineral Reserves to 8.1 million ounces gold (15.6 million tonnes grading 16.1 grams per tonne gold). The Proven Mineral Reserves in the Valley of the Kings increased to 1.6 million ounces gold (3.3 million tonnes grading 14.5 grams per tonne gold) which is sufficient for the first three years of mine life.
• On December 15, 2016, we also announced Brucejack development continued to progress on schedule, and that effective January 1, 2017 Robert Quartermain would assume the role of Executive Chair and Joseph Ovsenek would assume the role of President and Chief Executive Officer.
• Working capital at December 31, 2016 was $61.7 million. Subsequent to the end of the year, we received the final advance under the senior secured term credit facility for US$100 million and completed an offering of US$100 million of unsecured convertible senior subordinated notes.
• On February 3, 2017, we announced the acceleration of mine commissioning with dry commissioning scheduled to commence in March 2017 and wet commissioning scheduled to commence in early April 2017. We also announced an updated forecast of the capital cost to complete construction of the Brucejack Mine, with capital cost including working capital estimated to be US$811.1 million.
• On February 7, 2017, we announced the offering of US$90 million of unsecured convertible senior subordinated notes, with an over-allotment option of US$10 million. On February 8, 2017 we announced the pricing of the offering, and on February 14, 2017, we announced that the offering was completed for total gross proceeds of US$100 million which included the exercise of the full amount of the over-allotment option of US$10 million.

Advancing the Brucejack Mine - Construction Progress