Pretium Resources Inc.: Valley of the Kings Infill Drilling Concludes With More High-Grade Gold Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to report the remaining results from the underground infill drill program at the Brucejack Project's Valley of the Kings, including six intersections grading greater than 1,000 grams per tonne gold within long intervals of significant gold mineralization. (See Table 1 below for assays.) The 2015/2016 infill drill program was successful in confirming the style and grade distribution of the gold mineralization in the area that was tested. The results from the 2015/2016 infill drill program and a revised geological interpretation are being compiled and will be incorporated into an updated resource estimate for the Valley of the Kings.

Selected drill highlights include:

• Hole VU-746 intersected 149.95 grams of gold per tonne uncut over 31.0 meters, including 9,200 grams of gold per tonne uncut over 0.50 meters;
  
  
• Hole VU-749 intersected 69.66 grams of gold per tonne uncut over 23.3 meters, including 2,260 grams of gold per tonne uncut over 0.50 meters;
  
  
• Hole VU-762 intersected 70.93 grams of gold per tonne uncut over 16.0 meters, including 2,140 grams of gold per tonne uncut over 0.50 meters;
  
  
• Hole VU-696 intersected 50.31 grams of gold per tonne uncut over 17.0 meters, including 1,510 grams of gold per tonne uncut over 0.50 meters;
  
  
• Hole VU-748 intersected 30.73 grams of gold per tonne uncut over 21.37 meters, including 1,245 grams of gold per tonne uncut over 0.50 meters; and,
  
  
• Hole VU-756 intersected 21.07 grams of gold per tonne uncut over 33.0 meters, including 1,130 grams of gold per tonne uncut over 0.50 meters.
  
  

Holes VU-746 and VU-748 were drilled from the 1260-meter drill bay, holes VU-749 and VU-756 were drilled from the 1350-meter drill bay, hole VU-696 was drilled from the 1310-meter drill bay, while hole VU-762 was drilled from the 1270-meter drill bay while.

For a plan and section views of the reported drill fans please see the following link: http://media3.marketwire.com/docs/1057055_Map.pdf.

The 2015/2016 infill drill program was designed to target the stope areas in years one through three of the current mine plan for the Valley of the Kings. An area of roughly 200 vertical meters over a strike length of 250 meters has been drilled at 7.5 to 10-meter centers. A total of 63,444 meters in 364 drill holes 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 (see news release dated May 12, 2016).

Table 1: Selected Valley of the Kings Drill Results, May 2016 (VU-664 to VU-773)^(1,2,3)

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 constructing a high-grade underground gold mine at its Brucejack Project in northern British Columbia with commercial production targeted for 2017.

(SEDAR filings: Pretium Resources Inc.)

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. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral reserves and resources including the 2013 Valley of the Kings Mineral Resource estimate and the Brucejack Mineral Reserve estimate, 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", "targets" 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 28, 2016 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.

Contact

Pretium Resources Inc.
Joseph Ovsenek
President
(604) 558-1784 / (877) 558-1784
Pretium Resources Inc.
Troy Shultz
Manager, Investor Relations & Corporate Communications
(604) 558-1784 / (877) 558-1784
invest@pretivm.com