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Press release from Marketwire

Pretium Resources Inc.: Underground Exploration Concludes With More High-Grade Gold Intersections and Expansion of the Valley of the Kings

Monday, December 02, 2013

Pretium Resources Inc.: Underground Exploration Concludes With More High-Grade Gold Intersections and Expansion of the Valley of the Kings

06:00 EST Monday, December 02, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 2, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report the remaining assay results from underground exploration drilling in the Valley of the Kings. These results include 8 intersections grading greater than 1,000 grams per tonne gold uncut from 6,164 meters of drilling in 46 holes. (See Table 1 below for assays.)

Selected drill highlights include:

  • Hole VU-365 intersected 328.91 grams of gold per tonne uncut over 20.50 meters, including 13,400 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-369 intersected 96.71 grams of gold per tonne uncut over 44.95 meters, including 7,700 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-384 intersected 331.99 grams of gold per tonne uncut over 8.00 meters, including 5,210 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-390 intersected 179.14 grams of gold per tonne uncut over 13.50 meters, including 4,780 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-397 intersected 175.44 grams of gold per tonne uncut over 10.78 meters, including 3,770 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-385 intersected 1,200 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-383 intersected 1,095 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-391 intersected 1,040 grams of gold per tonne uncut over 0.50 meters.

The bonanza-grade gold intercepts noted above were encountered in drilling to the east and west, as well as above and below the area of the Valley of the Kings Bulk Sample Program (the "Program").

Underground exploration drilling has expanded the defined Valley of the Kings high-grade gold mineralization to the east, and mineralization remains open in all directions.

For plan views of the reported drilling please visit the following link http://media3.marketwire.com/docs/pretfig21202.pdf.

In 2013 a total of 38,830 meters of underground drilling was completed in the Valley of the Kings, comprising 16,789 meters of Program drilling and 22,041 meters of exploration drilling. Assay results from 2013 drilling include a total of 69 intercepts grading over 1,000 grams per tonne gold uncut (of which 15 were in the Cleopatra Vein).

For a summary table of Valley of the Kings assay results by grade interval please visit the following link http://media3.marketwire.com/docs/pretfig11202.pdf.

Processing of the approximately 1,500 wet tonnes of bulk sample material remaining from the Program is expected to be completed this week, with final results reported after the completion of assaying.

The results both from the 38,830 meters of underground drilling and from milling will be incorporated into the updated Mineral Resource estimate for the Valley of the Kings expected later this month.

Table 1: Valley of the Kings Drill Results, December 2013 (VU-363 to VU-408)(1,2,3,4)

Hole
No.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval (meters) Gold
(g/t)
Silver
(g/t)
Capping
Exploration Drilling from Drill Bay Section 426700E (180 Azimuth)
VU-363 -44/180 55.50 62.95 7.45 7.05 6.47
incl 62.35 62.95 0.60 79.00 17.30
74.50 80.05 5.55 13.05 11.56
incl 76.26 76.76 0.50 35.30 8.80
incl 78.50 79.00 0.50 30.70 13.00
incl 79.55 80.05 0.50 23.90 15.40
104.50 113.60 9.10 11.91 12.56
105.25 105.75 0.50 207.00 160.00
VU-364 -33/180 3.00 19.50 16.50 21.80 52.67 1 Au sample cut
or 3.00 19.50 16.50 31.52 52.67 Uncut
incl 9.00 10.50 1.50 75.40 156.00
15.10 15.60 0.50 751.00 456.00 Uncut
59.50 63.50 4.00 3.97 6.40
83.55 84.05 0.50 162.00 32.80
VU-365 -18/180 1.00 12.67 11.67 9.37 12.53
incl 1.82 2.32 0.50 78.70 58.90
incl 8.06 8.86 0.80 27.30 24.50
incl 12.17 12.67 0.50 77.80 17.60
21.46 30.03 8.57 5.51 12.13
incl 26.43 26.93 0.50 67.80 47.10
50.50 71.00 20.50 12.57 118.78 1 Au sample cut
or 50.50 71.00 20.50 328.91 118.78 Uncut
incl 69.18 69.68 0.50 13,400 4,690 Uncut
69.68 71.00 1.32 23.10 6.90
VU-366 1/180 0.00 24.00 24.00 3.57 9.67
1.00 2.00 1.00 48.60 42.20
45.00 62.96 17.96 25.39 9.58
incl 48.00 49.50 1.50 283.00 88.50
incl 62.41 62.96 0.55 46.60 24.80
VU-367 24/180 18.00 30.00 12.00 2.64 5.73
VU-368 42/180 55.75 77.60 21.85 11.44 19.87 1 Au sample cut
or 55.75 77.60 21.85 17.89 19.87 Uncut
incl 55.75 56.25 0.50 712.00 577.00 Uncut
77.10 77.60 0.50 49.30 60.90
Exploration Drilling from Drill Bay Section 426700E (165 Azimuth)
VU-369 -35/165 3.55 48.50 44.95 14.10 61.96 2 Au samples cut
or 3.55 48.50 44.95 96.71 61.35 Uncut
incl 4.05 4.50 0.45 24.20 32.90
incl 7.85 8.36 0.51 251.00 90.30
incl 34.47 34.97 0.50 7,770 3,880 Uncut
incl 47.54 48.04 0.50 516.00 352.00 Uncut
68.00 76.00 8.00 29.38 46.17 1 Au sample cut
or 68.00 76.00 8.00 57.88 46.17 Uncut
incl 72.99 73.49 0.50 886.00 624.00 Uncut
VU-370 -20/165 13.50 25.25 11.75 14.63 14.15
incl 17.70 18.30 0.60 266.00 133.00
39.00 47.00 8.00 8.06 31.49
incl 41.53 42.03 0.50 88.70 56.30
VU-371 1/165 28.50 56.00 27.50 7.22 9.65
incl 52.15 52.65 0.50 344.00 280.00
VU-372 30/165 42.00 51.00 9.00 1.38 7.23
VU-373 -45/165 31.00 44.41 13.41 2.25 8.73
57.90 64.20 6.30 19.88 16.79
incl 63.70 64.20 0.50 238.00 163.00
84.40 96.94 12.54 14.10 20.21
incl 93.00 93.50 0.50 300.00 319.00
Exploration Drilling from Drill Bay Section 426700E (150 Azimuth)
VU-374 -40/150 9.00 13.74 4.74 9.10 42.69
incl 11.90 12.50 0.60 64.10 49.00
24.60 34.50 9.90 10.36 35.33
incl 26.20 26.65 0.45 22.30 6.10
incl 28.35 28.95 0.60 96.60 68.20
incl 30.37 30.87 0.50 40.20 289.00
42.77 43.27 0.50 17.05 5.80
64.50 75.50 11.00 10.31 13.94
incl 64.50 65.00 0.50 186.50 131.00
104.50 122.50 18.00 12.26 12.53
incl 112.23 112.73 0.50 175.00 79.00
incl 121.00 122.50 1.50 68.10 29.00
VU-375 -29/150 10.45 26.15 15.70 12.66 25.98
incl 10.45 11.00 0.55 26.00 68.10
incl 17.68 18.18 0.50 275.00 176.00
incl 22.00 22.50 0.50 16.30 62.90
48.70 51.25 2.55 16.02 10.65
incl 48.70 49.20 0.50 73.30 28.00
VU-377 -16/150 22.80 43.43 20.63 11.78 24.04
incl 24.77 25.27 0.50 54.00 24.77
incl 31.25 31.75 0.50 285.00 197.00
incl 42.43 42.93 0.50 103.00 333.00
VU-379 1/150 36.00 65.50 29.50 0.91 5.20
VU-380 16/150 51.50 61.00 9.50 2.59 15.90
VU-382 40/150 21.00 39.00 18.00 1.25 3.54
112.00 113.50 1.50 40.50 25.70
Exploration Drilling from Drill Bay Section 426652E (80 Azimuth)
VU-384 1/80 4.07 15.50 11.43 25.46 28.34 1 Au sample cut
or 4.07 15.50 11.43 41.47 28.34 Uncut
incl 4.07 4.57 0.50 796.00 547.00
incl 14.00 15.50 1.50 48.70 19.00
57.50 72.48 14.98 8.12 13.01
incl 68.25 68.75 0.50 202.00 294.00
136.50 144.50 8.00 33.24 256.74 1 Au sample cut
or 136.50 144.50 8.00 331.99 256.74 Uncut
incl 137.00 137.50 0.50 5,210 2,570 Uncut
137.50 138.00 0.50 48.90 37.90
VU-386 -23/80 100.50 108.00 7.50 1.85 28.13
VU-388 -40/80 3.29 7.50 4.21 7.19 12.21
incl 3.29 3.79 0.50 55.00 84.50
97.50 127.50 30.00 1.47 18.79
VU-390 -52/80 20.14 32.50 12.36 1.82 1.85
94.50 108.00 13.50 18.03 114.47 1 Au sample cut
or 94.50 108.00 13.50 179.14 114.47 Uncut
incl 97.77 98.27 0.50 4,780 1,775 Uncut
VU-392 24/80 68.35 112.00 43.65 6.18 15.04
incl 68.35 68.85 0.50 411.00 99.40
Exploration Drilling from Drill Bay Section 426652E (95 Azimuth)
VU-395 -64/95 20.35 20.85 0.50 68.50 20.10
96.00 137.97 41.97 10.66 15.71
incl 105.38 105.88 0.50 403.00 543.00
incl 113.23 113.73 0.50 47.50 39.90
incl 113.73 114.23 0.50 153.50 97.10
incl 125.67 126.17 0.50 96.10 39.00
incl 133.47 133.97 0.50 21.50 67.30
VU-396 -45/95 100.95 109.00 8.05 13.44 13.50
100.95 101.45 0.50 206.00 140.00
123.40 148.40 25.00 11.09 13.49 1 Au sample cut
or 123.40 148.40 25.00 11.59 13.49 Uncut
incl 123.40 123.90 0.50 455.00 242.00 Uncut
142.02 142.52 0.50 64.40 84.40
VU-400 -23/95 3.73 4.23 0.50 44.80 27.40
27.27 28.27 1.00 92.50 28.80
Exploration Drilling from Drill Bay Section 426652E (110 Azimuth)
VU-403 -62/110 86.90 101.40 14.50 0.69 5.39
VU-404 -50/110 88.30 96.90 8.60 8.55 12.17
incl 91.40 91.90 0.50 69.40 76.40
incl 91.90 92.40 0.50 21.50 20.20
VU-406 -35/110 94.97 95.47 0.50 35.70 13.80
Exploration Drilling from Drill Bay Section 426482E (244 Azimuth)
VU-376 1/244 16.50 18.00 1.50 20.50 15.70
70.46 80.32 9.86 4.17 3.88
incl 70.46 70.96 0.50 66.20 27.70
VU-378 22/244 12.00 37.50 25.50 0.71 6.28
VU-381 40/244 65.00 78.50 13.50 1.30 22.98
VU-383 52/244 46.95 73.50 26.55 1.17 6.74
85.50 106.50 21.00 11.20 25.51 1 Au sample cut
or 85.50 106.50 21.00 27.04 25.51 Uncut
incl 102.97 103.47 0.50 1,095 786.00 Uncut
132.50 142.00 9.50 4.32 8.35
138.62 139.12 0.50 46.90 12.50
VU-385 -22/244 8.77 39.90 31.13 8.77 26.43 1 Au sample cut
or 8.77 39.90 31.13 21.14 26.43 Uncut
incl 8.77 9.27 0.50 1,200 913.00 Uncut
67.00 84.50 17.50 12.81 14.59 1 Au sample cut
or 67.00 84.50 17.50 23.27 14.59 Uncut
incl 76.79 77.29 0.50 796.00 369.00 Uncut
51.00 66.00 15.00 4.69 8.10
incl 63.15 64.85 1.70 23.46 45.94
VU-387 -38/244 13.44 13.94 0.50 18.50 14.30
Exploration Drilling from Drill Bay Section 426482E (231 Azimuth)
VU-389 1/231 23.12 41.50 18.38 8.01 9.38
23.12 23.62 0.50 271.00 152.00
77.50 79.00 1.50 33.40 30.00
VU-391 28/231 50.80 72.50 21.70 13.23 19.74 1 Au sample cut
or 50.80 72.50 21.70 27.29 19.74 Uncut
incl 65.44 65.94 0.50 31.60 20.10
incl 67.44 67.84 0.40 33.30 36.00
incl 67.84 68.34 0.50 1,040 609.00 Uncut
111.50 130.50 19.00 1.86 5.77
VU-393 45/231 37.50 50.15 12.65 8.28 19.24
40.50 42.00 1.50 56.30 37.00
VU-394 -26/231 41.44 77.50 36.06 0.91 2.96
106.10 106.60 0.50 18.50 13.40
VU-397 13.5/231 73.51 84.29 10.78 20.52 111.85 1 Au sample cut
or 73.51 84.29 10.78 175.44 111.85 Uncut
incl 83.29 83.79 0.50 3,770 2,340
Exploration Drilling from Drill Bay Section 426482E (155 Azimuth)
VU-398 23/155 38.72 48.88 10.16 1.39 15.42
VU-399 1/155 39.50 68.00 28.50 1.06 6.19
VU-401(4) -23/155 83.92 101.50 17.58 10.57 6.25
incl 85.74 86.24 0.50 339.00 92.40
VU-402 -44/155 21.00 26.13 5.13 6.31 21.10
incl 25.50 26.13 0.63 36.40 9.20
105.33 144.00 38.67 1.33 9.28
Exploration Drilling from Drill Bay Section 426616E (100 Azimuth)
VU-405 19/100 34.90 37.90 3.00 1.40 34.20
66.20 110.00 43.80 0.96 11.11
incl 115.00 138.55 23.55 2.40 21.72
incl 120.63 121.13 0.50 40.70 20.00
incl 185.00 186.50 1.50 32.90 33.40
VU-407 43/100 98.10 110.41 12.31 7.92 61.22
incl 102.80 103.39 0.59 32.20 327.00
incl 103.39 103.89 0.50 24.80 259.00
incl 109.91 110.41 0.50 56.40 146.00
135.50 140.65 5.15 7.81 144.76
incl 137.50 138.00 0.50 13.50 197.00
incl 138.00 138.50 0.50 19.05 542.00
154.71 163.20 8.49 8.64 41.65
incl 162.70 163.20 0.50 129.50 206.00
VU-408 63/100 91.33 95.83 4.50 9.12 90.00
92.33 92.83 0.50 34.40 296.00
92.83 93.34 0.51 21.80 191.00
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 430 g/t were cut to 430 g/t.
(3) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.
(4) Hole ended in mineralization.

Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the Qualified Person (QP) responsible for the Brucejack Project exploration program.

About Pretivm

Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Permitting of a high-grade underground gold mine at Brucejack is underway, with commercial production targeted to commence in 2016.

Forward Looking Statements

This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, the estimated gold to be produced from the bulk sample program, risks related to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral reserves and resources, realization of mineral reserve and resource estimates and timing of development of Pretivm's Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm's executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information.

Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm's Annual Information Form dated March 18, 2013 filed on SEDAR at www.sedar.com and in the United States on Form 40-F through EDGAR at the SEC's website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.

Neither the TSX nor the NYSE has approved or disapproved of the information contained herein.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer


Pretium Resources Inc.
Michelle Romero
Vice President, Corporate Relations
(604)558-1784
invest@pretivm.com
www.pretivm.com

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