GOLD: PRETIUM RESOURCES INC.: UPDATED FEASIBILITY STUDY FOR BRUCEJACK PROJECT CONFIRMS POSITIVE ECONOMICS

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 19, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to announce the results of an updated National Instrument 43-101-compliant Feasibility Study completed by Tetra Tech for the Brucejack Project ("Brucejack" or the "Project") in northern British Columbia. The report, which includes updated metals prices, currency exchange rate, and costs, confirms the positive economics for a high-grade gold underground mine at Brucejack.

Feasibility Study Highlights

• Increase in Valley of the Kings Mineral Reserve gold grade:
  • Valley of the Kings Proven and Probable Mineral Reserves of 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams of gold per tonne)
  • West Zone Proven and Probable Mineral Reserves of 0.6 million ounces of gold (2.9 million tonnes grading 6.9 grams of gold per tonne);
• Gold and silver recoveries of 96.7% and 90.0% over mine life;
• Mine life of 18 years producing an estimated 7.27 million ounces of gold;
• Average annual production of 504,000 ounces of gold over the first 8 years and 404,000 ounces of gold over mine life;
• Estimated project capital cost, including contingencies, of US$746.9 million;
• Average operating costs of C$163.05/tonne milled over mine life;
• Base case economics: At US$1,100/ounce gold, US$17/ounce silver and exchange rate of 0.92 US$/C$, Brucejack has a pre-tax net present value ("NPV") at a 5% discount of US$2.25 billion (US$1.45 billion post-tax), a pre-tax internal rate of return ("IRR") of 34.7%, and a pre-tax payback period of 2.7 years;
• Alternative high case economics: At US$1,400/ounce gold, US$21/ounce silver and exchange rate of 0.92 US$/C$, Brucejack has a pre-tax NPV at a 5% discount of US$3.54 billion (US$2.28 billion post-tax), a pre-tax IRR of 47%, and a pre-tax payback period of 2 years.

Table 1: Summary of Brucejack Economic Results by Metal Price

	Low Case		Base Case		High Case
Gold Price (US$/ounce)	$800		$1,100		$1,400
Silver Price (US$/ounce)	$15.00		$17.00		$21.00
Net Cash Flow (US$)	$2.02 billion (pre-tax) $1.34 billion (post-tax)		$4.16 billion (pre-tax) $2.72 billion (post-tax)		$6.35 billion (pre-tax) $4.13 billion (post-tax)
Net Present Value (1) (5.0% discount) (US$)	$985 million (pre-tax) $620 million (post-tax)		$2.25 billion (pre-tax) $1.45 billion (post-tax)		$3.54 billion (pre-tax) $2.28 billion (post-tax)
Internal Rate of Return	20.3% (pre-tax) 16.5% (post-tax)		34.7% (pre-tax) 28.5% (post-tax)		47%(pre-tax) 38.7% (post-tax)
Payback (from start of production period)	4.4 years (pre-tax) 4.5 years (post-tax)		2.7 years (pre-tax) 2.8 years (post-tax)		2.0 years (pre-tax) 2.1 years (post-tax)
Exchange Rate (US$:C$)	0.92		0.92		0.92

(1)	NPV is discounted to July 2014.

Project Mineral Reserves

The Mineral Reserves resulting from the Feasibility Study for the Brucejack Project are based on the December 2013 Mineral Resource estimates for the Valley of the Kings and the West Zone (see news release dated December 19, 2013). The Mineral Reserve estimates by zone and Reserve category are summarized below.

Table 2: Valley of the Kings Mineral Reserve Estimate (2)(3) - June 2014

					Contained
Category	Tonnes(millions)	Gold(g/t)	Silver(g/t)		Gold(million oz)	Silver(million oz)
Proven	2.1	15.6	12		1.1	0.8
Probable	11.5	15.7	10		5.8	3.9
Total P&P	13.6	15.7	11		6.9	4.6