Zijin Mining Group C$81 Million Strategic Investment in Pretivm

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that Zijin Mining Group Co., Ltd. ("Zijin") has agreed to make a strategic investment in the Company which will result in Zijin owning approximately 9.9% of Pretivm's issued and outstanding shares. Pretivm has agreed to issue to Zijin by way of a private placement 12,836,826 common shares of the Company (the "Purchased Shares") at a price per share of C$6.30 for gross proceeds of approximately C$80,872,004 (the "Offering"). Zijin is a Shanghai and Hong Kong listed company with extensive interests across a broad range of commodities, and is the largest gold producer in China.

The Offering constitutes a significant portion of the planned equity component of the financing required to bring the Brucejack Project into production. Pretivm intends to use the proceeds from the Offering to fund capital expenditures including the procurement of long-lead items and camp infrastructure. The permitting process for a 2,700 tonne-per-day underground mine at Brucejack is currently underway.

"Zijin's investment positions us well at a critical stage in our advance to production," said Pretivm's CEO Robert Quartermain. "Zijin is a well-capitalized shareholder, and as fellow shareholders, we value their long-term outlook and commitment to gold and to the successful development of our Brucejack Project as a high-grade gold mine."

The Offering is scheduled to close on or about January 16, 2015, subject to regulatory approvals and approvals from the Chinese government or its relevant authorized departments. Pursuant to the subscription agreement, Zijin will be entitled to nominate one person to be appointed to the board of directors of Pretivm and will have a pre-emptive right to participate in any future equity financings of Pretivm to maintain its approximately 9.9% interest.

The Purchased Shares may not be traded for a period of four months plus one day from the closing of the Offering. The Purchased Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.

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 Zijin

Zijin is a large-scale mining group headquartered in Shanghang County, Fujian Province, PRC. It is the largest gold producer, second largest copper producer, and a significant zinc, tungsten and iron ore producer in China. Zijin trades on the Shanghai and Hong Kong stock exchanges and has a market capitalization of over US$9 billion.

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, risks related to satisfying conditions of the Offering, 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, 2014 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.