Pretium Resources Inc.: Valley of the Kings 2012 Exploration Concludes With More High-Grade Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2012) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report the final assays from its high-grade Brucejack Project in northern British Columbia. Results continue to confirm the projection and continuity of high-grade gold, including more 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-557 intersected 7,947 grams of gold per tonne uncut over 0.60 meters (231.8 ounces of gold per ton over 1.97 feet);
• Hole SU-578 intersected 1,175 grams of gold per tonne uncut over 0.50 meters (34.3 ounces of gold per ton over 1.64 feet) and
• Hole SU-584 intersected 1,155 grams of gold per tonne uncut over 0.65 meters (33.7 ounces of gold per ton over 2.13 feet).

The bonanza-grade gold intercept noted above from hole SU-557, which was collared on section 426525E, was intersected 54 meters deeper and 54 meters north of the interval from the Valley of the Kings discovery hole SU-12 which graded 16,948 grams per tonne gold uncut over 1.5 meters, in the central area of the zone.

The interval noted above from hole SU-578, which was collared on section 426800E, was intersected 85 meters south and 40 meters east of the interval from hole SU-54 which intersected 2,490 grams of gold per tonne uncut over 1.59 meters, near the eastern margin of the Valley of the Kings. The interval from SU-584, which was collared on section 426262E, was intersected 12 meters above and 25 meters west of the interval from hole SU-493 which intersected 1,751 grams per tonne gold uncut over 1.2 meters, at the far western margin of the Valley of the Kings.

A plan of the Valley of the Kings highlighting the location of the holes noted above is located at http://media3.marketwire.com/docs/PVG1018m.pdf.

The assays for all holes after SU-466 will be incorporated in the 2012 Mineral Resource estimate for the Brucejack Project, which is expected later in the fourth quarter of 2012 or in the first quarter of 2013.

The recently completed 2012 Brucejack Exploration Program successfully confirmed the continuity of high-grade gold mineralization in the Valley of the Kings, and extended the zone to over 800 meters along strike. The Valley of the Kings remains open to the east, west, and at depth.

Table 1: Selected Brucejack Project Drill Results, October 2012 (SU-556 to SU-585)(1,3,4)
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-556	6258067N 427052E	-56/178		203.00	206.00	Low-grade Au, Ag quartz stockwork
				305.50	323.00	Low-grade Au, Ag quartz stockwork
SU-557	6258317N 426527E	-47/178		333.58	334.08	0.50	20.40	29.90
				358.67	359.27	0.60	7,947	3,770	Uncut
				401.87	402.37	0.50	18.55	54.20
				432.24	432.74	0.50	94.20	45.20
				496.85	499.00	2.15	43.88	37.33
			incl	497.35	499.00	1.65	52.50	44.10
				523.00	524.50	1.50	16.55	15.10
SU-558	6258239N 426527E	-47/178		319.20	323.50	4.30	20.82	13.97
			incl	319.20	319.62	0.42	135.50	81.10
			incl	321.81	323.50	1.69	18.60	10.80
SU-559	6257973N 426225E	-45/358		14.84	16.40	1.56	4.42	125.51
SU-560	6258291N 426480E	-53/178		100.61	101.11	0.50	50.10	28.20
				330.50	332.00	1.50	42.00	51.30
				434.12	437.85	3.73	66.80	73.18	1 Au sample cut
			or	434.12	437.85	3.73	111.20	73.18	Uncut
			incl	434.12	434.72	0.60	656.00	427.00
			incl	437.35	437.85	0.50	38.50	19.00
				460.86	461.36	0.50	98.20	42.90
				518.27	518.77	0.50	300.00	143.00
SU-562	6258207N 426703E	-51/178		2.00	4.61	2.61	10.95	14.42
			incl	4.11	4.61	0.50	25.40	12.70
				367.00	372.46	5.46	15.27	11.77
			incl	371.90	372.46	0.56	124.50	83.60
				416.50	417.00	0.50	421.00	207.00
SU-563	6258121N 426951E	-56/178		377.00	378.50	1.50	107.00	45.90
				439.5	464	Low-grade Au, Ag quartz stockwork
SU-564	6258299N 426227E	-50/175		86.00	87.50	1.50	54.60	24.30
				287.86	288.36	0.50	317.00	181.00
SU-565	6258121N 426302E	-64/177		98.21	98.71	0.50	287.00	48.00
				168.50	171.50	3.00	9.42	18.35
SU-567	6258106N 427184E	-57/177		254.00	257.00	Low-grade Au, Ag quartz stockwork
SU-568	6258156N 427000E	-52/177		28.05	28.55	0.50	8.38	540.00
				109.60	110.10	0.50	5.93	691.00
				328.50	330.00	1.50	116.50	40.90
				443.00	460.50	17.50	20.59	19.26	1 Au sample cut
			or	443.00	460.50	17.50	30.62	19.26	Uncut
			incl	443.00	443.50	0.50	138.50	70.50
			incl	443.50	444.00	0.50	731.00	314.00	Uncut
			incl	459.00	460.50	1.50	63.40	41.70
SU-570	6258155N 426853E	-47/177		77.50	79.00	1.50	130.01	63.40	1 Au sample cut
			or	77.50	79.00	1.50	152.67	63.40	Uncut
			incl	78.50	79.00	0.50	448.00	187.00	Uncut
				95.50	99.56	4.06	9.11	139.11
			incl	97.85	98.82	0.97	20.20	94.80
				441.05	441.78	0.73	73.40	73.40
SU-571	6257844N 426265E	-60/358		122.53	123.03	0.50	31.50	39.80
				183.73	192.69	8.96	12.92	7.64
				183.73	184.39	0.66	123.5	48.1
				192.19	192.69	0.5	16.40	10.90
				273.50	275.00	1.50	19.95	52.90
				372.77	373.42	0.65	16.20	16.7
SU-572	6258206N 426849E	-53/177		6.57	8.13	1.56	21.60	335.00
				484.5	486	1.5	46.5	8.8
				499.5	501	1.5	244	229
SU-573	6258177N 426801E	-50/358		247.5	250.5	3	19.925	10.50
				321.2	321.7	0.5	26.60	19.30
SU-574	6258099N 426826E	-50/358		88.04	88.54	0.50	25.00	24.40
				148.50	157.50	9.00	9.398	36.00
				148.50	150.00	1.50	25.30	65.00
				154.50	156.00	1.50	21.10	85.90
				191.38	193.00	1.62	27.9	77.80
SU-575	6258317N 426527E	-51/178		418.27	418.77	0.50	12.80	11.40
				501.27	514.21	12.94	17.23	10.17
			incl	501.27	501.87	0.60	292.00	113.00
			incl	508.55	509.3	0.75	44.3	33.3
			incl	513.71	514.21	0.5	19.00	11.70
SU-577	6258067N 426451E	-50/178		26.66	27.16	0.50	41.50	141.00
				75.09	80.99	5.90	9.95	12.63
			incl	75.09	75.59	0.50	30.20	29.3
			incl	80.49	80.99	0.50	79.00	49.5
				127.38	127.88	0.50	42.40	32.60
SU-578	6258076N 426803E	-50/358		14.32	14.82	0.50	1,175	87.20	Uncut
				189.60	192.10	2.50	7.49	16.70
				253.60	254.10	0.50	105.50	73.80
SU-579	6258151N 426852E	-46/357		13.00	14.50	1.50	20.70	177.00
SU-580	6258151N 426853E	-46/357		69.50	71.00	1.50	8.96	145.00
				101.00	111.50	10.50	4.69	64.66
				208.06	209.50	1.44	15.70	37.60
				320.88	321.38	0.50	18.40	45.30
SU-582	6258108N 427185E	-45/358		236.50	238.00	1.50	6.10	440.00
				245.50	247.00	1.50	7.86	256.00
				419.00	420.50	1.50	12.65	19.50
				443.79	444.29	0.50	20.30	888.00
SU-584	6257883N 426264E	-50/358		32.15	36.05	3.90	26.89	38.02
			incl	32.15	32.65	0.50	181.50	232.00
			incl	35.55	36.05	0.50	20.10	46.20
				49.50	50.25	0.75	44.80	25.70
				135.77	140.45	4.68	79.19	89.78	1 Au sample cut
			or	135.77	140.45	4.68	186.83	89.78	Uncut
			incl	135.77	136.42	0.65	1,155	542.00	Uncut
			incl	136.42	138.00	1.58	48.70	24.60
			incl	139.93	140.45	0.52	87.90	48.00
				160.18	160.68	0.50	40.50	4.90
SU-585	6258157N 426903E	-52/177		121.50	123.11	1.61	8.54	396.00
				352.05	352.55	0.50	10.85	10.20
				452.35	452.85	0.50	5.72	170.00

(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) Where low-grade quartz stockwork is noted, grades range between 0.4 to 2.0 grams per tonne gold and 20 to 200 grams per tonne silver.

(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 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.