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Press Release Details

Pretium Resources Inc.: More High-Grade Gold Intersected in Valley of the Kings Zone

11/10/2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - Pretium Resources Inc. ("Pretivm") (TSX:PVG) is pleased to report the final assay results from its Brucejack Project in northern British Columbia, including more exceptionally high-grade results from the Valley of the Kings Zone. (See Table 2 below for the final 26 holes.)

Valley of the Kings Zone

Selected highlights include:



--  Hole SU-266 intersected 0.56 meters with uncut grades of 13,600 grams of
    gold and 6,910 grams of silver per tonne (1.8 feet averaging 396.7
    ounces gold and 201.5 ounces of silver per ton);
--  Hole SU-269 intersected 0.68 meters with uncut grades of 6,110 grams of
    gold and 2,220 grams of silver per tonne (2.2 feet averaging 178.2
    ounces gold and 64.7 ounces silver per ton).

The bonanza-grade intercept in hole SU-266, which ended in mineralization, was intersected in an interval of 5.5 meters with cut grades of 36.8 grams of gold and 261.9 grams of silver per tonne (uncut grades of 1,414.6 grams of gold and 751.6 grams of silver per tonne.)

Also of note from drilling in the West Zone footwall is hole SU-282, which intersected 0.65 meters grading 395.0 grams of gold and 435.0 grams of silver per tonne in a wider mineralized intersection of 209.18 meters grading 2.5 grams of gold and 29.5 grams of silver per tonne.

2011 Top Brucejack High-Grade Gold Intersections

Over the course of the 2011 drilling program at Brucejack, a total of 24 intervals with uncut grades over 1,000 grams per tonne gold were intersected in 17 holes. The top ten highest-grading gold intersections from the 2011 program (all from the Valley of the Kings Zone) are shown in Table 1 below.

Table 1: 2011 Top Ten Highest-Grading Gold Intersections from the Brucejack Project (1)(2)(5)

-----------------------------------------------------------------------
Hole        Collar      Dip/    From       To  Interval   Gold   Silver
No.        Coords.   Azimuth (meters) (meters) (meters)   (g/t)   (g/t)
-----------------------------------------------------------------------
SU-115    6258015N -50 / 180    60.60    61.20      0.6  18,754   9,312
           426456E
-----------------------------------------------------------------------
SU-260    6257998N -45 / 180    65.84    66.34     0.50  17,750   7,780
           426481E
-----------------------------------------------------------------------
SU-266    6258048N -45 / 180   343.69   344.25     0.56  13,600   6,910
           426481E
-----------------------------------------------------------------------
SU-230    6257881N -65 / 360   305.73   306.73     1.00   7,420   3,800
           426643E
-----------------------------------------------------------------------
SU-150    6257955N -65 / 360    76.38    76.88     0.50   6,670   3,630
           426311E
-----------------------------------------------------------------------
SU-269    6258051N -50 / 180   295.08   295.76     0.68   6,110   2,220
           426373E
-----------------------------------------------------------------------
SU-195    6257767N -50 / 360   349.39   349.89     0.50   5,740   2,750
           426641E
-----------------------------------------------------------------------
SU-115    6258015N -50 / 180    76.10    76.61     0.51   4,209   2,039
           426456E
-----------------------------------------------------------------------
SU-132    6258000N -47 / 360    57.68    58.18     0.50   4,060   1,660
           426351E
-----------------------------------------------------------------------
SU-249    6258051N -57 / 180   115.59   116.09     0.50   3,880   1,745
           426507E
-----------------------------------------------------------------------
(1) and (5), see footnotes to Table 2.
(2)All assays are uncut.

The update to the Brucejack Project mineral resource estimate is now underway, and is expected to be reported this quarter.

Table 2: Selected Brucejack Project Drill Results, November 2011 (SU-261 to SU-288)(1,4)

----------------------------------------------------------------------------
                                                Inter-
                                    From     To    val
Hole       Collar      Dip/        (met-  (met-  (met-   Gold Silver    Cap-
No.       Coords.   Azimuth         ers)   ers)   ers)  (g/t)  (g/t) ping(2)
----------------------------------------------------------------------------
                          VALLEY OF THE KINGS ZONE
----------------------------------------------------------------------------
SU-261   6257488N -65 / 360         55.5  171.0  115.5   1.95   20.0
          426623E
----------------------------------------------------------------------------
                            incl.  58.91   64.0   5.09   4.70  114.0
----------------------------------------------------------------------------
                            incl.  118.0  128.5   10.5   7.00   53.6
----------------------------------------------------------------------------
                            incl.  152.8  165.0   12.2   4.38   25.4
----------------------------------------------------------------------------
SU-      6257653N -50 / 360         24.5   26.0    1.5  14.55  741.0
 262(3)   426673E
----------------------------------------------------------------------------
                                   444.5  500.5   56.0   1.24    7.8
----------------------------------------------------------------------------
SU-263   6257875N -55 / 360        337.5  416.5   79.0   1.14    4.5
          426304E
----------------------------------------------------------------------------
SU-      6258012N -50 / 180        175.5  224.5   49.0   0.97    8.8
 264(3)   426376E
----------------------------------------------------------------------------
                                   249.4  279.5   30.1   1.29    3.3
----------------------------------------------------------------------------
SU-265   6257736N -50 / 360        270.0  318.0   48.0  1.026    3.0
          426454E
----------------------------------------------------------------------------
                                   447.5  462.5   15.0  1.397    9.7
----------------------------------------------------------------------------
                                   510.5  512.0    1.5  45.10   31.0
----------------------------------------------------------------------------
SU-      6258048N -45 / 180        246.0  274.5   28.5   1.28    4.6
 266(3)   426481E
----------------------------------------------------------------------------
                                   340.5  346.0    5.5  36.78  261.9 2 Au
                                                                     samples
                                                                     cut
----------------------------------------------------------------------------
                                   340.5  346.0    5.51,414.6  751.6 uncut
----------------------------------------------------------------------------
                            incl. 343.69 344.25   0.56 13,600  6,910 uncut
----------------------------------------------------------------------------
                                   365.5 366.98   1.48   6.58    1.7
----------------------------------------------------------------------------
SU-267   6257903N -50 / 360         72.5  146.5   74.0    0.8    9.4
          426595E
----------------------------------------------------------------------------
                                  454.54 455.54    1.0  73.70   70.2
----------------------------------------------------------------------------
SU-268   6257907N -65 / 360        189.5  197.0    7.5   3.57   15.4
          426327E
----------------------------------------------------------------------------
                                   228.5  236.0    7.5  14.80   15.6
----------------------------------------------------------------------------
                            incl.  233.0  234.5    1.5  59.50   36.8
----------------------------------------------------------------------------
SU-269   6258051N -50 / 180        176.0  179.0    3.0   5.58    8.3
          426373E
----------------------------------------------------------------------------
                                   255.9  275.0   19.1   3.57   15.6
----------------------------------------------------------------------------
                            incl.  255.9  260.5    4.6   9.06   24.7
----------------------------------------------------------------------------
                                   288.5  312.0   23.5    9.3   73.2 2 Au
                                                                     samples
                                                                     cut
----------------------------------------------------------------------------
                            incl. 294.32 295.08   0.76  569.0  317.0 uncut
----------------------------------------------------------------------------
                            incl. 295.08 295.76   0.68  6,110  2,220 uncut
----------------------------------------------------------------------------
SU-270   6258131N -47 / 360         1.87   15.5  13.63   5.42    8.7 1 Au
          426378E                                                    sample
                                                                     cut
----------------------------------------------------------------------------
                            incl.   1.87   2.37    0.5  169.0   22.9 uncut
----------------------------------------------------------------------------
                                   154.5  168.0   13.5   1.27   11.9
----------------------------------------------------------------------------
SU-271   6257930N -50 / 360        98.97 102.18   3.21   4.15    8.9
          426691E
----------------------------------------------------------------------------
                                  177.05  186.5   9.45   2.70   72.3
----------------------------------------------------------------------------
SU-272   6257935N -65 / 360        253.0  268.0   15.0   3.37    7.2
          426304E
----------------------------------------------------------------------------
                                   253.0  254.5    1.5   25.7   34.3
----------------------------------------------------------------------------
SU-273   6258033N -50 / 180        106.5  129.0   22.5   1.10   17.1
          426553E
----------------------------------------------------------------------------
                                   158.5 175.74  17.24   1.30   23.3
----------------------------------------------------------------------------
                                   208.0  218.5   10.5   9.69   10.9
----------------------------------------------------------------------------
                            incl.  215.5  217.0    1.5   63.1   36.2
----------------------------------------------------------------------------
                                  284.65 285.13   0.48  46.70   11.4
----------------------------------------------------------------------------
                                   322.0  333.5   11.5   6.06    7.3 1 Au
                                                                     sample
                                                                     cut
----------------------------------------------------------------------------
                            incl. 327.15 327.63   0.48  274.0   78.0 uncut
----------------------------------------------------------------------------
SU-274   6258075N -45 / 360         18.5   23.9    5.4   5.67   20.5
          426344E
----------------------------------------------------------------------------
                                    21.5   22.5    1.0   24.4   35.6
----------------------------------------------------------------------------
                                  104.68  135.5  30.82   0.80    9.5
----------------------------------------------------------------------------
SU-275   6258108N -43 / 180       110.86 111.61   0.75   9.21   84.5
          426375E
----------------------------------------------------------------------------
SU-276   6258072N -50 / 180          250  311.5   61.5   0.75    8.1
          426375E
----------------------------------------------------------------------------
                                  329.52  339.5   9.98   3.86    5.5
----------------------------------------------------------------------------
                            incl. 329.52 330.02    0.5   26.9   33.5
----------------------------------------------------------------------------
SU-277   6257990N -50 / 360        264.5  285.5   21.0   0.70    1.4
          426691E
----------------------------------------------------------------------------
SU-278   6258046N -43 / 360         81.0  81.81   0.81   36.4   25.3
          426300E
----------------------------------------------------------------------------
                                   116.5  122.8    6.3  10.13   15.3
----------------------------------------------------------------------------
                            incl.  119.5  121.0    1.5   34.6   34.0
----------------------------------------------------------------------------
                                  WEST ZONE
----------------------------------------------------------------------------
SU-279   6258713N -50 / 225          8.5  29.39  20.89   0.78   37.5
          426448E
----------------------------------------------------------------------------
                                    49.0   62.5   13.5   1.67  216.6 1 Ag
                                                                     sample
                                                                     cut
----------------------------------------------------------------------------
                            incl.  61.22   62.5   1.28   8.06  3,090 uncut
----------------------------------------------------------------------------
                                   158.0  214.0   56.0   1.21    6.6
----------------------------------------------------------------------------
SU-282   6258887N -50 / 225       242.32  451.5 209.18   2.53   29.5 1 Au
          426695E                                                    sample
                                                                     cut
----------------------------------------------------------------------------
                            incl.  245.0 249.58   4.58   16.6  944.8
----------------------------------------------------------------------------
                            incl.  372.0  373.5    1.5  116.0   87.5
----------------------------------------------------------------------------
                            incl. 405.92 406.57   0.65  395.0  435.0 uncut
----------------------------------------------------------------------------
SU-283   6258646N -50 / 225          3.3  128.5  125.2   1.21   13.7
          426505E
----------------------------------------------------------------------------
                            incl.  127.0  128.5    1.5   19.4   27.3
----------------------------------------------------------------------------
SU-284   6258926N -50 / 225         88.5  119.5   31.0   0.86    2.7
          426378E
----------------------------------------------------------------------------
                                   163.5  264.5  101.0   1.09    8.0
----------------------------------------------------------------------------
                            incl.  183.5  188.5    5.0   4.68   18.1
----------------------------------------------------------------------------
SU-285   6258784N -50 / 225          3.3  283.5  280.2   0.92    6.1
          426378E
----------------------------------------------------------------------------
                            incl.  188.5  191.5    3.0  11.54   25.8
----------------------------------------------------------------------------
                            incl.  254.5  256.0    1.5   9.96  262.0
----------------------------------------------------------------------------
SU-287   6258567N -50 / 225         36.0   42.0    6.0   1.84    4.3
          426581E
----------------------------------------------------------------------------
                             CONDEMNATION HOLES
----------------------------------------------------------------------------
SU-286   6258644N -50 / 225       237.37  239.0   1.63   1.50  208.0
          427040E
----------------------------------------------------------------------------
SU-288   6258543N -50 / 225         64.0  75.23  11.23   0.53  219.9
          427301E
----------------------------------------------------------------------------
                            incl.   74.0  75.23   1.23   3.03  1,320
----------------------------------------------------------------------------
                                   229.0 249.02  20.02   0.73   11.8 uncut
----------------------------------------------------------------------------
(1)True thickness to be determined.
(2)Unless otherwise indicated as uncut, all gold assays over 130 g/t were
cut to 130 g/t and all silver assays over 2,100 g/t were cut to 2,100 g/t.
(3)Hole ended in mineralization
(4)Holes SU-280 and SU-281 were geotechnical holes and not sampled.
(5)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. Samples over 100 ppm silver were reanalyzed using
four acid digestion with an ore grade AA finish. Samples over 1,000 ppm
silver were fire assayed with a gravimetric finish. Samples with over 10 ppm
gold were fire assayed with a gravimetric finish. One in 10 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.

 

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 advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack and the bulk tonnage opportunities at both Brucejack and Snowfield.

Forward Looking Statement

This Press Release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, information with respect to our plans, costs and timing for future exploration (including updated resource estimates) and development activities, results of future exploration, timing and receipt of approvals, consents and permits under applicable legislation, production and developments in our operations in future periods and adequacy of financial resources. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking information. Statements concerning mineral 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 (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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 final short-form prospectus dated April 4, 2011 filed on SEDAR at www.sedar.com. 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.

The TSX has neither approved nor disapproved of the information contained herein.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Pretium Resources Inc.
        Robert Quartermain
        President and Chief Executive Officer
        (604)558-1784

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

Source: Pretium Resources Inc.