Pretium Resources Inc.: Record High-Grade Gold Interval Extended; Additional High-Grade Results in Valley of the Kings

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2012) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report the remaining assays for hole SU-452, which includes the highest-grading gold intersection encountered to date at the Brucejack project, and additional bonanza-grade results from drilling in Valley of the Kings. (See Table 1 below for assays.)

The bonanza-grade interval from hole SU-452 now extends over 10 meters, from a downhole depth of 198.79 meters, with an average grade of:

• 2,393 grams of gold and 1,605 grams of silver per tonne uncut over 10.71 meters (70.3 ounces gold and 46.8 ounces silver per ton over 35.1 feet).

The high-grade interval noted above includes the previously-reported record intercept of 41,582 grams of gold and 27,725 grams of silver per tonne uncut over 0.5 meters (see news release dated July 25, 2012). Hole SU-452 also intersected 1,130 grams of gold per tonne uncut over 0.65 meters from a downhole depth of 150.79 meters.

A total of seven separate intervals grading over 20 grams of gold per tonne were intersected in hole SU-452. To view hole SU-452 on the updated cross section through the Valley of the Kings at section 426625E please visit the following link: http://media3.marketwire.com/docs/pvg731-F1.pdf.

Other results from the Valley of the Kings include:

• Hole SU-445 intersected 5,242 grams of gold per tonne uncut over 0.57 meters (152.9 ounces of gold per ton over 1.9 feet); and
• Hole SU-447 intersected 3,660 grams of gold per tonne uncut over 0.54 meters (106.7 ounces of gold per ton over 1.8 feet); and
• Hole SU-434 intersected 2,400 grams of gold per tonne uncut over 0.50 meters (70.0 ounces of gold per ton over 1.6 feet); and
• Hole SU-440 intersected 1,140 grams of gold per tonne uncut over 0.50 meters (33.3 ounces of gold per ton over 1.6 feet).

The holes noted above were collared from the far western margin of the Valley of the Kings to the far eastern margin, respectively, with holes SU-434 and SU-440 drilled from the same pad. Also of note is hole SU-458, a 50-meter eastern step-out hole which intersected 433 grams of gold per tonne over 0.5 meters. The Valley of the Kings now extends over 550 meters in length, and remains open along strike and at depth.

Table 1: Selected Brucejack Project Drill Results, July 2012 (SU-431 to SU-460) (1,4)
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-431	6257996N 426438E	-45/178		29.60	30.10	0.50	180.50	79.60
SU-432	6257870N 426625E	-50/358		180.97	182.13	1.16	41.00	78.70
				284.59	285.09	0.50	128.50	77.70
SU-433	6257920N 426325E	-65/358		178.00	179.50	1.50	19.65	23.40
SU-434	6257850N 426663E	-70/178		97.00	98.50	1.50	49.6	46.6
				203.80	205.59	1.79	37.30	2,600
				290.83	291.33	0.50	2,400	1,610
				335.77	336.77	1.00	244.50	157.00
SU-435	6258015N 426388E	-50/178		280.00	281.00	1.00	85.70	36.80
SU-438	6257995N 426338E	-60/358		261.00	262.50	1.50	22.00	18.40
SU-440	6257850N 426663E	-55/178		222.28	222.78	0.50	1,140	665.00
				275.50	277.39	1.89	32.53	16.69
			incl	276.89	277.39	0.50	64.60	21.10
SU-441	6258040N 426475E	-50/178		205.07	205.57	0.50	64.70	33.10
SU-445	6257965N 426337E	-60/358		66.26	79.00	12.74	28.49	108.72	1 Gold sample cut
				66.26	79.00	12.74	240.66	108.72	Uncut
			incl	66.26	66.83	0.57	5,242	2,120
			incl	77.50	79.00	1.50	42.30	48.90
SU-446	6257935N 426338E	-60/358		162.50	165.50	3.00	7.96	18.55
SU-447	6258020N 426450E	-50/178		109.74	112.00	2.26	125.73	427.12	1 Gold sample cut
				109.74	112.00	2.26	880.78	427.12	Uncut
			incl	109.74	110.28	0.54	3,660	1,750
SU-448	6257850N 426663E	-60/178		175.69	176.19	0.50	21.70	11.60
SU-451	6257950N 426338E	-60/358		99.79	100.29	0.50	536.00	112.00
SU-452(3)	6257869N 426624E	-55/358		26.14	26.64	0.50	22.30	47.70
				57.50	59.00	1.50	142.00	127.00
				131.10	132.00	0.90	63.70	38.20
				150.79	151.44	0.65	1,130	480.00
				198.79	209.50	10.71	161.69	390.54	5 samples cut to 500 ppm Au/2 samples cut to 2,500 ppm Ag
			or	198.79	209.50	10.71	2,393	1,605	Uncut
			incl	198.79	199.29	0.50	733	273.00
			incl	200.97	201.47	0.50	412.42	313
			incl	201.47	201.97	0.50	41,582	27,725
			incl	201.97	202.47	0.50	2,251	1,770
			incl	202.47	202.97	0.50	9.97	12.00
			incl	202.97	203.47	0.50	4,902	3,290
			incl	203.47	203.97	0.50	820.00	660.00
			incl	203.97	204.97	1.00	121	45.30
			incl	208.00	209.50	1.50	79.30	46.40
				292.00	293.50	1.50	20.10	280.00
				307.00	308.44	1.44	30.20	35.00
SU-454	6257920N 426338E	-60/358		175.06	186.00	10.94	26.31	30.70	1 Gold sample cut
			or	175.06	186.00	10.94	43.36	30.70	Uncut
			incl	175.06	175.56	0.50	873.00	474.00
				286.23	286.73	0.50	90.1	22.00
SU-455	6258130N 426525E	-45/178		227.37	227.87	0.50	232.00	48.00
SU-456	6258083N 426475E	-50/178		156.90	157.41	0.51	529	277.00
				321.91	322.41	0.50	34.80	13.40
SU-457	6257938N 426575E	-45/178		142.47	142.97	0.50	100.50	46.20
SU-458	6257899N 426800E	-70/358		243.63	244.13	0.50	433.00	223.00
SU-459	6257870N 426625E	-60/358		240.45	248.5	8.05	8.33	18.88
			incl	245.50	247.00	1.50	28.70	51.80
				282.94	291.00	8.06	14.89	14.04
			incl	282.94	283.54	0.60	134.50	72.60
			incl	289.50	291.00	1.50	20.70	17.50
SU-460	6258051N 426375E	-55/358		111.66	126.00	14.34	17.84	29.25
			incl	111.66	112.23	0.57	68.40	19.30
			incl	120.79	121.29	0.50	276.00	338.00
			incl	123.84	124.34	0.50	46.70	19.30
			incl	124.34	126.00	1.66	25.20	54.80
GOSSAN HILL
SU-442	6258818N 426600E	-47/360		166.53	167.03	0.50	15.95	10.2
				228.50	230.00	1.50	14.40	102.00
SU-450	6258818N 426600E	-62/360		251.00	259.00	8.00	24.06	102.82
			incl	255.42	256.00	0.58	243.00	475.00
			incl	256.64	257.15	0.51	31.10	340.00
(1)True thickness to be determined.
(2)Unless otherwise indicated as uncut, all gold assays over 500 g/t were cut to 500 g/t.
(3)SU-452 intervals previously reported: 200.97 to 203.97.
(4)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.

Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.

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, which hosts a significant undeveloped high-grade gold resource.

Forward-Looking Statements

This Press 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 unsatisfactory results of due diligence, the ability to satisfy the conditions of closing of Offering and general economic conditions, 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.