Pretium Resources Inc.: High-Grade Gold Intercepts Continue to Confirm Valley of the Kings Continuity

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 3, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that drilling in Brucejack''s Valley of the Kings continues to confirm the projection and continuity of high-grade gold, with numerous intervals grading over 1 kilogram per tonne gold. (See Table 1 below for assays.)

Selected highlights from the Valley of the Kings include:

• Hole SU-542 intersected:

  • 2,258 grams of gold per tonne uncut over 2.30 meters (65.9 ounces of gold per ton over 7.55 feet) and

  • 8,912 grams of gold per tonne uncut over 0.50 meters (259.9 ounces of gold per ton over 1.64 feet);

• Hole SU-548 intersected:

  • 3,450 grams of gold per tonne uncut over 0.50 meters (100.6 ounces of gold per ton over 1.64 feet) and

  • 1,105 grams of gold per tonne uncut over 0.50 meters (32.2 ounces of gold per ton over 1.64 feet);

• Hole SU-535 intersected:

  • 2,410 grams of gold per tonne uncut over 0.50 meters (70.3 ounces of gold per ton over 1.64 feet) and

  • 1,695 grams of gold per tonne uncut over 0.60 meters (49.4 ounces of gold per ton over 1.97 feet).

The two bonanza-grade gold intercepts noted above from hole SU-542, which was collared on section 426300E, are located 120 meters deeper and 12.5 meters east of the bonanza-grade gold interval from SU-493 grading 1,751 grams per tonne gold uncut over 1.2 meters, and approximately two meters east of the interval from hole SU-340 grading 150 grams per tonne gold over 1.0 meter. Additionally, hole SU-542 encountered two exceptionally high-grade intervals near surface: an interval grading 1,780 grams per tonne gold uncut over 0.5 meters at a downhole depth of 16.0 meters, and an interval grading 2,420 grams per tonne gold uncut over 0.5 meters at a downhole depth of 20.8 meters.

Hole SU-535, which was collared on section 426325E, intercepted a total of 10 separate gold intervals grading over 12 grams per tonne gold, with six grading over 100 grams per tonne gold, from a downhole depth of approximately 12.5 meters to a downhole depth of 501.6 meters. The two bonanza intercepts noted above are located 35 meters southeast of the near-surface intercepts from SU-542.

The Valley of the Kings now extends over 800 meters in strike length and is open to the east, west, and at depth. A plan of the Valley of the Kings highlighting the location of the holes noted above is located at http://media3.marketwire.com/docs/pvg310-F1.pdf.

The 2012 Brucejack Exploration Program is nearing conclusion, and the final assays will be reported when they are received. The assays for all holes after SU-466 will be incorporated in the final 2012 Mineral Resource estimate for the Brucejack Project expected later in the fourth quarter of 2012 or in the first quarter of 2013.

Table 1: Selected Brucejack Project Drill Results, October 2012 (SU-531 to SU-555)(1,3)
Hole No.	Collar Coords.	Dip/ Azimuth		From (meters)	To (meters)	Interval (meters)	Gold (g/t)	Silver (g/t)	Capping (2)
VALLEY OF THE KINGS
SU-531	6258171N 426575E	-48/177		124.78	125.28	0.50	45.70	22.90
				275.17	280.97	5.80	35.45	41.25
			incl	275.17	275.67	0.50	368.00	205.00
			incl	280.47	280.97	0.50	16.10	13.00
SU-533	6258306N 426575E	-50/178		415.00	416.50	1.50	8.75	4.40
				488.66	489.16	0.50	25.10	20.60
SU-534	6257895N 426225E	-50/355		125.50	127.00	1.50	7.03	7.30
SU-535	6257801N 426325E	-55/358		12.45	17.50	5.05	42.03	31.19	1 Au sample cut
			or	12.45	17.50	5.05	243.02	31.19	Uncut
			incl	12.45	12.95	0.50	2,410	265.00	Uncut
				16.00	17.50	1.50	12.90	13.20
				37.21	37.81	0.60	1,695	119.00	Uncut
				300.50	302.00	1.50	122.50	46.70
				347.08	347.58	0.50	690.00	351.00	Uncut
				427.00	434.50	7.50	12.30	10.79
			incl	427.00	428.50	1.50	47.40	21.60
				501.11	501.61	0.50	417.00	262.00	Uncut
SU-536	6258292N 426550E	-48/178		360.43	360.93	0.50	67.90	28.00
				380.00	381.50	1.50	13.90	59.40
				439.07	442.50	3.43	17.95	12.84
				439.07	439.57	0.50	108.00	50.70
SU-537	6258212N 426622E	-48/178		187.26	208.95	21.69	30.07	25.81
			incl	187.26	187.76	0.50	377.00	222.00
			incl	191.47	191.97	0.50	33.30	32.80
			incl	193.55	194.16	0.61	55.80	33.60
			incl	198.71	199.21	0.50	198.00	91.10
			incl	199.21	199.71	0.50	193.50	91.20
				208.45	208.95	0.50	338.00	127.00
				361.60	362.36	0.76	35.50	23.70
SU-538	6258096N 427000E	-54/178		145.00	146.50	1.50	9.88	0.60
SU-539	6258192N 426487E	-45/178		225.50	227.00	1.50	14.30	17.10
				341.21	341.71	0.50	953.00	146.00	Uncut
				377.91	381.00	3.09	19.85	16.78
			incl	377.91	378.41	0.50	99.90	45.90
				508.74	509.24	0.50	251.00	198.00
SU-540	6258228N 426778E	-50/178		94.50	96.00	1.50	8.63	50.20
				390.36	392.86	2.50	9.44	324.96
			incl	390.36	390.86	0.50	21.60	1,040.00
				397.00	398.50	1.50	13.00	10.80
SU-541	6257660N 426625E	-55/358		19.00	25.29	6.29	8.70	9.89
			incl	19.00	20.50	1.50	27.30	27.00
			incl	24.79	25.29	0.50	21.10	8.40
				214.00	215.50	1.50	42.60	19.00
				526.00	527.50	1.50	29.60	12.20
SU-542	6257831N 426300E	-60/358		16.00	21.32	5.32	72.08	307.28	2 Au samples cut
			or	16.00	21.32	5.32	395.39	307.28	Uncut
			incl	16.00	16.50	0.50	1,780	1,365	Uncut
			incl	20.82	21.32	0.50	2,420	1,890	Uncut
				121.84	122.34	0.50	31.00	172.00
				141.14	141.64	0.50	20.20	773.00
				269.86	272.16	2.30	179.01	391.48	1 Au sample cut
			or	269.86	272.16	2.30	2,258	391.48	Uncut
			incl	271.09	271.66	0.57	1,285	602.00	Uncut
			incl	271.66	272.16	0.50	8,912	1,070	Uncut
SU-543	6258116N 427103E	-45/177		351.73	352.23	0.50	30.30	13.60	2 Au samples cut
SU-544	6258262N 426777E	-50/177		20.76	25.00	4.24	41.38	39.04
			incl	22.97	23.47	0.50	263.00	137.00
				174.37	174.87	0.50	244.00	262.00
SU-545	6257912N 426287E	-60/358		416.66	423.00	6.34	3.64	176.66
SU-546	6258191N 426550E	-48/178		41.26	42.26	1.00	28.05	25.80
				319.50	321.00	1.50	8.66	5.60
				366.78	367.31	0.53	78.00	50.90
SU-547	6258306N 426575E	-58/178		427.50	429.00	1.50	45.00	7.10
SU-548	6257848N 426287E	-60/357		226.50	232.50	6.00	6.11	5.18
				290.50	309.50	19.00	31.24	65.88	2 Au samples cut
			or	290.50	309.50	19.00	131.11	65.88	Uncut
			incl	290.50	291.23	0.73	264.00	157.00
			incl	291.23	291.73	0.50	3,450	1,550	Uncut
			incl	305.62	306.12	0.50	1,105	635.00	Uncut
SU-549	6258235N 426475E	-53/178		15.00	16.25	1.25	9.98	10.50
				83.50	85.45	1.95	12.75	12.10
				379.50	384.00	4.50	11.94	12.33
			incl	382.50	384.00	1.50	26.50	15.10
SU-552	6258177N 426525E	-47/178		209.40	220.98	11.58	13.79	10.04
				209.40	209.90	0.50	153.50	89.80
				220.38	220.98	0.60	133.00	71.20
SU-553	6258119N 426950E	-45/178		332.02	334.86	2.84	11.63	628.10
				332.96	333.75	0.79	24.20	1,665
				384.20	385.55	1.35	7.20	619.00
SU-554	6258256N 426750E	-51/178		36.00	37.50	1.50	5.18	177.00
				45.45	47.00	1.55	52.90	535.00
SU-555	6258270N 426825E	-45/178		69.00	73.00	4.00	17.71	137.84
			incl	69.00	70.50	1.50	17.45	267.00
			incl	72.50	73.00	0.50	70.30	74.50
				197.45	199.00	1.55	14.45	48.10
WEST ZONE
SU-532	6258960N 426750E	-55/178		430.25	430.75	0.50	1.07	1,270
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 380 g/t were cut to 380 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.

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. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack''s Valley of the Kings is underway and expected in the second quarter of 2013.

(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. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm''s financial resources, the estimation of mineral resources, realization of mineral resource estimates, 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 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 prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States 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.