Pretium Resources Inc.
TSX : PVG
NYSE : PVG

Pretium Resources Inc.
Nisga'a Nation

Nisga'a Nation

April 02, 2015 04:00 ET

Pretivm and Nisga'a Nation Sign Brucejack Project Cooperation and Benefits Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 2, 2015) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") and the Nisga'a Nation are pleased to announce that they have entered into a comprehensive Cooperation and Benefits Agreement (the "Agreement") in respect of Pretivm's Brucejack Project ("Brucejack" or the "Project") located in northwest British Columbia. The Agreement establishes a long-term, mutually-beneficial relationship between Pretivm and the Nisga'a Nation, who have rights and interests as defined by the Nisga'a Final Agreement in the Nass Area where portions of the Project are located.

Under the terms of the Agreement, the Nisga'a Nation will provide ongoing support for the development and operation of Brucejack as a safe, environmentally sound mine with participation in its economic benefits, and Pretivm will honour commitments to the Nisga'a Nation regarding jobs and contracting opportunities at the Project, education and training and financial payments.

"Nisga'a Nation strives for sustainable prosperity and self-reliance," stated President H. Mitchell Stevens, "and the benefits from the Brucejack project will make an important contribution towards our improved quality of life. Our Treaty brings certainty to this type of development and we look forward to working with Pretivm."

"We are pleased that a strong relationship with the Nisga'a Nation has grown out of our work with them over the last four years," said Pretivm President and CEO Robert Quartermain. "We look forward to their collaboration as we advance Brucejack to production."

The Agreement provides for communication, collaboration and cooperation between Pretivm and the Nisga'a Nation. Highlights include:

  • Nisga'a Nation collaboration with Pretivm in support of the completion of the operational permitting process for the Project and subsequent regulatory authorizations;
  • Financial payments by Pretivm to the Nisga'a Nation upon the achievement of certain Project milestones, and annual production payments based on a percentage of net profits;
  • Pretivm's commitment to education and training of Nisga'a citizens so that they will be better able to take advantage of the economic benefits the Project offers;
  • A framework for the Nisga'a Nation and Pretivm to work together to achieve employment targets and to ensure Nisga'a businesses will have preferred access to contracting opportunities;
  • Mutual cooperation on responding to social impacts which Nisga'a Villages may experience as a result of the Project.

About Pretivm

Pretivm is advancing its 100%-owned Brucejack Project in northern British Columbia to production as a high-grade gold underground mine. Based on the results of the June 2014 Feasibility Study, Brucejack is expected to produce an average of 504,000 ounces of gold a year over the first 8 years and 404,000 ounces of gold a year over the 18-year mine life. Brucejack's Valley of the Kings hosts Proven and Probable reserves totalling 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams of gold per tonne). Commercial production at Brucejack is targeted for 2017.

About Nisga'a Nation

The Nisga'a Nation of northwestern British Columbia is represented by Nisga'a Lisims Government (NLG) a modern, forward-thinking administration based on traditional culture and values of approximately 7,000 Nisga'a citizens. The Nisga'a Final Agreement is British Columbia's first modern treaty that came into effect on May 11, 2000, marking the end of a 113-year journey. It is the first treaty in British Columbia to provide constitutional certainty in respect of an Aboriginal people's Section 35 right to self-government. It recognizes the Nisga'a Nation's ownership of approximately 2,000 sq. km of Nisga'a Lands and opens the door for joint economic initiatives in the development of the Nisga'a Nation's natural resources.

Pretium Resources Inc.

(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, the Company's anticipated use of the proceeds of the Offering and those risks identified in Pretivm's Annual Information Form dated March 31, 2015 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.

Contact Information

  • Pretium Resources Inc.
    Robert Quartermain, President and Chief Executive Officer
    Michelle Romero, Vice President, Corporate Relations
    (604) 558-1784
    invest@pretivm.com

    Nisga'a Nation
    Department of Communications and
    Intergovernmental Relations
    (250) 633-3069
    www.nisgaanation.ca