Pretium Resources Inc.: Valley of the Kings Drill Results Confirm High-Grade Gold Continuity

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) - Pretium Resources Inc. (TSX:PVG) ("Pretivm") is pleased to report results from the Brucejack Project where ongoing drilling continues to demonstrate the continuity of high-grade gold mineralization, and visible gold continues to be encountered. (See Table 1 for the most recent 23 holes).

Valley of the Kings Zone

Selected highlights include:

• Hole SU-230 intersected 1.0 meters with uncut grades of 7,420 grams of gold and 3,800 grams of silver per tonne (3.3 feet averaging 216.4 ounces gold and 110.8 ounces of silver per ton);
• Hole SU-226 intersected 0.5 meters with uncut grades of 1,465 grams of gold and 863 grams of silver per tonne (1.6 feet averaging 42.7 ounces gold and 25.2 ounces silver per ton).

The bonanza-grade intercept in hole SU-230 noted above was intersected within a 6.5 meter interval with cut grades of 76.8 grams of gold and 478.5 grams of silver per tonne (uncut grades of 1,349 grams of gold and 740 grams of silver per tonne). This interval is located approximately 40 meters from the high-grade interval from hole SU-195 with uncut grades of 5,740 grams of gold and 2,750 grams of silver per tonne over 0.5 meters (see news release dated September 12, 2011). Both holes were drilled on the eastern-most section of the Valley of the Kings Zone, which remains open to the east and down dip.

Other Zones

Drill results from other zones on the Brucejack property continue to encounter high-grade gold within broader intervals of significant gold values. A highlight is hole SU-215 in the Galena Hill Zone, which intersected 55.0 meters grading 4.7 grams of gold and 47.5 grams of silver per tonne, including 0.5 meters with uncut grades of 462 grams of gold and 311 grams of silver per tonne.

To date this season, Pretivm has completed 164 holes totalling 68,000 meters on the Brucejack Project. Assay results for 34 holes are outstanding, of which 29 are for holes drilled in the Valley of the Kings Zone. We will complete another eight exploration holes totalling 4,000 meters, and an additional 2,000 meters of geotechnical and condemnation drilling in support of a feasibility study. Results for the remaining holes will be reported when we receive them. The drill program is expected to conclude by the second week in October, and the update to the mineral resource estimate for Brucejack will be completed in the fourth quarter.

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 and the bulk-tonnage opportunities at both Brucejack and Snowfield.

Forward Looking Statement

This Press Release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, information with respect to our plans, costs and timing for future exploration (including updated resource estimates) and development activities, results of future exploration, timing and receipt of approvals, consents and permits under applicable legislation, production and developments in our operations in future periods and adequacy of financial resources. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking 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 (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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 final short-form prospectus dated April 4, 2011 filed on SEDAR at www.sedar.com. 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.