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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. (PVG)(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)

Hole
No.

Dip/
Azimuth

From
(meters)

To
(meters)

Interval
(meters)

Gold
(g/t)

Silver
(g/t)


Comments

1310 m Drill Bay - 426,522E/6,258,139N - 204 Azimuth

VU-696

-32.5/204

105.00

122.00

17.00

21.78

20.85

1 sample cut

or

105.00

122.00

17.00

50.31

20.85

uncut

incl

105.88

106.38

0.50

183.00

159.00

incl

115.34

115.84

0.50

1,510

409.00

VU-702

-27.5/204

120.00

121.00

1.00

23.80

25.40

171.00

172.00

1.00

11.60

8.10

VU-708

-22.5/204

115.50

132.00

16.50

15.20

16.59

incl

115.50

116.00

0.50

42.00

23.40

incl

119.12

119.62

0.50

412.00

268.00

182.99

183.49

0.50

19.45

19.80

VU-718

-17.5/204

120.14

120.64

0.50

62.60

37.90

173.00

174.00

1.00

9.32

32.40

VU-723

-12.5/204

109.96

124.00

14.04

14.84

15.16

incl

109.96

110.46

0.50

125.00

147.00

incl

115.62

116.12

0.50

271.00

148.00

163.78

164.28

0.50

25.90

12.80

VU-728

-7.5/204

66.50

67.00

0.50

239.00

136.00

111.13

111.63

0.50

48.00

59.00

VU-735

-2.5/204

136.00

137.20

1.20

8.64

10.80

1260 m South Drill Bay - 426,529E/6,258,018N - 185 Azimuth

VU-729

-36/185

21.60

24.00

2.40

15.99

45.29

incl

22.85

23.35

0.50

49.10

55.20

87.00

96.00

9.00

31.18

10.19

incl

87.99

88.49

0.50

541.00

106.00

VU-732

-28/185

119.00

120.00

1.00

8.77

4.80

131.00

132.00

1.00

8.07

3.50

VU-737

-21/185

94.00

95.00

1.00

7.85

17.50

1260 m South Drill Bay - 426,529E/6,258,018N - 190 Azimuth

VU-741

-39/190

23.00

23.95

0.95

14.70

262.00

23.95

24.45

0.50

74.70

358.00

1260 m South Drill Bay - 426,529E/6,258,018N - 195 Azimuth

VU-746

-37/195

23.00

54.00

31.00

10.28

123.70

1 sample cut

or

23.00

54.00

31.00

149.95

123.70

uncut

incl

29.40

29.90

0.50

9,200

5,500

incl

41.80

43.00

1.20

6.92

15.90

incl

52.00

53.00

1.00

6.94

663.00

67.00

67.78

0.78

52.70

11.60

101.00

113.00

12.00

24.12

15.43

incl

101.00

102.00

1.00

282.00

154.00

VU-748

-29/195

20.00

41.37

21.37

14.23

38.09

1 sample cut

or

20.00

41.37

21.37

30.73

38.09

uncut

incl

27.00

28.00

1.00

9.02

8.10

incl

29.52

30.02

0.50

1,245

977.00

incl

39.00

40.00

1.00

5.21

16.40

99.98

100.48

0.50

27.00

87.60

140.00

141.00

1.00

22.70

17.60

VU-752

-21/195

40.11

41.20

1.09

70.80

39.10

69.00

80.00

11.00

16.05

8.35

incl

69.00

70.00

1.00

23.00

6.10

incl

70.00

71.00

1.00

144.00

51.60

VU-755

-14/195

67.40

68.18

0.78

19.15

26.50

1310 m Drill Bay - 426,522E/6,258,139N - 210 Azimuth

VU-750

-30/210

3.00

4.00

1.00

21.30

7.10

98.00

106.61

8.61

31.83

27.38

1 sample cut

or

98.00

106.61

8.61

34.50

27.38

uncut

incl

106.11

106.61

0.50

586.00

299.00

VU-753

-25/210

112.00

117.00

5.00

15.57

13.05

incl

114.42

114.92

0.50

130.00

57.40

165.40

165.90

0.50

300.00

245.00

VU-757

-20/210

91.04

91.54

0.50

10.75

7.00

195.05

195.55

0.50

60.40

5.4

VU-760

-15/210

91.00

92.00

1.00

17.20

46.00

99.88

100.38

0.50

19.45

30.30

183.00

184.00

1.00

11.60

4.30

VU-763

-10/210

99.00

118.00

19.00

15.21

19.43

1 sample cut

or

99.00

118.00

19.00

17.31

19.43

uncut

incl

99.00

100.00

1.00

13.75

8.50

incl

116.94

117.44

0.50

620.00

466.00

VU-765

-5/210

89.00

90.00

1.00

8.17

11.40

VU-771

5/210

43.00

47.72

4.72

6.42

8.43

incl

47.22

47.72

0.50

44.40

53.80

1270 m Drill Bay - 426,663E/6,258,075N - 151 Azimuth

VU-743

-30/151

165.00

166.00

1.00

18.70

34.10

VU-747

-24/151

98.00

99.00

1.00

7.97

9.40

149.00

150.00

1.00

6.41

29.80

VU-751

-18/151

118.00

126.38

8.38

17.30

42.96

incl

125.88

126.38

0.50

221.00

332.00

164.74

184.00

19.26

15.43

24.01

incl

165.24

165.74

0.50

19.05

30.20

incl

178.20

178.70

0.50

522.00

251.00

VU-754

-12/151

157.00

157.90

0.90

7.78

22.50

VU-759

-6/151

15.00

16.00

1.00

8.99

8.70

VU-762

0/151

151.00

167.00

16.00

20.93

84.37

1 sample cut

or

151.00

167.00

16.00

70.93

84.37

uncut

incl

153.60

154.10

0.50

42.50

69.90

incl

164.22

164.72

0.50

2,140

2,200

VU-766

5/151

111.15

127.00

15.85

12.41

52.74

incl

117.20

118.32

1.12

49.00

128.00

incl

125.76

126.26

0.50

245.00

90.20

138.00

143.00

5.00

10.16

12.16

incl

141.00

142.00

1.00

15.60

22.20

VU-770

12.5/151

96.00

104.80

8.80

7.83

9.23

EOH

incl

102.00

102.94

0.94

64.00

37.90

VU-773

27.5/151

94.21

104.30

10.09

10.02

24.19

EOH

incl

94.21

94.71

0.50

26.80

10.40

incl

103.10

104.30

1.20

52.80

23.30

EOH

1350 m East Drill Bay - 426,706E/6,258,050N - 114 Azimuth

VU-740

4.5/114

127.00

128.00

1.00

21.30

78.10

161.20

184.70

23.50

7.42

369.70

incl

164.25

164.75

0.50

27.90

1,690.00

incl

164.75

165.25

0.50

20.60

993.00

incl

173.70

174.20

0.50

43.10

2,250.00

incl

174.20

174.70

0.50

46.10

2,230.00

incl

181.70

182.20

0.50

52.10

2,930.00

incl

182.20

182.70

0.50

42.20

2,030.00

incl

182.70

183.20

0.50

15.00

922.00

incl

183.70

184.20

0.50

20.70

1,210.00

VU-744

11.5/114

143.25

143.75

0.50

18.20

24.30

VU-749

18.5/114

14.00

15.00

1.00

9.85

148.00

124.00

147.30

23.30

32.75

40.52

1 sample cut

or

124.00

147.30

23.30

69.66

40.52

uncut

incl

138.00

139.00

1.00

31.30

16.50

incl

142.00

143.00

1.00

112.50

37.90

incl

144.70

145.20

0.50

202.00

173.00

incl

145.70

146.20

0.50

2,260

873.00

incl

146.20

146.70

0.50

473.00

366.00

1350 m West Drill Bay - 426,680E/6,258,063N - 290 Azimuth

VU-756

51/290

61.00

94.00

33.00

12.13

30.59

1 sample cut

or

61.00

94.00

33.00

21.07

30.59

uncut

incl

62.53

63.03

0.50

31.00

23.30

incl

65.00

66.00

1.00

19.70

12.30

incl

74.00

75.00

1.00

18.00

127.00

incl

88.80

89.30

0.50

1,130

619.00

VU-758

40/290

60.00

86.00

26.00

14.22

18.74

incl

62.85

63.35

0.50

182.00

154.00

incl

67.00

68.00

1.00

40.50

18.50

incl

71.00

72.00

1.00

60.10

36.40

incl

72.00

72.65

0.65

38.30

37.20

incl

73.65

74.15

0.50

19.25

29.50

incl

74.15

74.65

0.50

41.00

33.70

incl

77.00

77.70

0.70

61.70

36.70

incl

78.96

79.46

0.50

37.80

52.60

VU-761

28/290

97.35

108.56

11.21

6.50

8.37

incl

97.35

97.85

0.50

115.00

79.30

VU-764

65/290

34.00

38.00

4.00

20.56

44.63

incl

36.43

36.93

0.50

60.60

83.00

incl

36.93

38.00

1.07

47.10

98.40

63.00

76.66

13.66

5.50

60.54

incl

63.00

64.00

1.00

39.60

23.90

incl

67.00

68.00

1.00

9.57

13.50

incl

76.16

76.66

0.50

9.19

28.60

91.49

91.99

0.50

9.06

41.50

1350 m West Drill Bay - 426,680E/6,258,063N - 272 Azimuth

VU-767

28/272

45.00

48.00

3.00

6.91

29.55

incl

46.00

46.53

0.53

32.00

24.40

VU-769

41/272

46.00

46.60

0.60

10.15

249.00

53.00

54.00

1.00

5.58

7.90

56.00

57.00

1.00

6.91

5.70

58.00

59.00

1.00

11.55

7.70

VU-772

54/272

59.25

59.75

0.50

9.83

6.70

60.31

60.81

0.50

5.39

13.00

1260 m East Drill Bay - 426,537E/6,258,032N - 21 Azimuth

VU-655

-62.5/21

8.00

11.00

3.00

20.14

14.27

10.00

11.00

1.00

57.40

22.40

97.00

112.10

15.10

15.38

23.27

incl

97.00

98.00

1.00

31.50

18.90

incl

111.10

111.60

0.50

123.50

55.40

incl

111.60

112.10

0.50

249.00

293.00

265.00

266.00

1.00

19.80

11.60

1260 m East Drill Bay - 426,537E/6,258,032N - 6 Azimuth

VU-664

-60/6

22.03

22.53

0.50

9.83

3.10

63.00

68.00

5.00

12.94

9.62

incl

64.00

65.00

1.00

51.70

24.80

93.95

96.00

2.05

10.16

5.58

incl

93.95

94.45

0.50

29.70

3.90

238.00

253.00

15.00

13.82

14.06

incl

244.75

245.25

0.50

365.00

276.00

1260 m East Drill Bay - 426,537E/6,258,032N - 351 Azimuth

VU-669

-65/351

78.00

83.00

5.00

8.47

10.89

incl

81.82

82.32

0.50

80.60

93.00

VU-673

-73/351

21.00

22.00

1.00

18.80

9.50

40.00

44.24

4.24

6.91

40.12

incl

40.00

41.00

1.00

21.40

82.20

VU-692

-67/351

20.00

21.00

1.00

8.95

44.40

64.00

71.00

7.00

23.24

22.54

incl

66.00

67.00

1.00

158.5

138.00

256.60

257.10

0.50

20.50

11.10

1260 m East Drill Bay - 426,537E/6,258,032N - 29 Azimuth

VU-687

-33/29

74.00

77.00

3.00

92.70

74.53

1 sample cut

or

74.00

77.00

3.00

102.04

74.53

uncut

incl

75.88

76.38

0.50

596.00

428.00

1260 m East Drill Bay - 426,537E/6,258,032N - 44 Azimuth

VU-699

24/44

68.24

68.74

0.50

128.50

153.00

VU-703

-15/44

20.00

21.55

1.55

8.54

9.46

VU-706

-33/44

5.00

34.74

29.74

20.06

20.85

incl

6.94

7.44

0.50

62.80

34.00

incl

12.14

12.64

0.50

373.00

139.00

incl

17.00

18.00

1.00

225.00

149.00

incl

22.46

22.96

0.50

388.00

140.00

66.00

67.00

1.00

60.10

36.80

1260 m East Drill Bay - 426,537E/6,258,032N - 55 Azimuth

VU-711

-15/55

25.32

33.00

7.68

8.80

16.90

88.00

90.00

2.00

18.89

10.30

incl

89.00

90.00

1.00

32.10

16.00

VU-714

-33/55

31.00

39.55

8.55

8.35

34.08

incl

35.67

36.17

0.50

113.00

85.60

(1)

True thickness to be determined.

(2)

Unless otherwise indicated as uncut, all gold assays over 540 g/t were cut to 540 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 one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. Whole core (core not split) is being assayed as part of the underground infill drill program.

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.