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Pretivm Closes Over-Allotment Option and Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/15/14 -- Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce the closing of the previously announced over-allotment option offering (the "Over-Allotment Option") of 1,242,000 common shares (the "Additional Shares") at a price of US$7.25 per share (the "Offering Price") pursuant to its marketed offering that closed on July 29, 2014 (the "Offering").

Upon closing of the Over-Allotment Option, Pretivm received gross proceeds of approximately US$7,400,000 for the sale of 1,024,650 Additional Shares. The remaining 217,350 Additional Shares were sold by Silver Standard Resources Inc. ("Silver Standard") at the Offering Price in a secondary offering for gross proceeds to Silver Standard of approximately US$1,580,000.

Pretivm is also pleased to announce the concurrent closing of its previously announced non-brokered private placement with Liberty Metals & Mining Holdings, LLC ("LMM"), a subsidiary of Boston-based Liberty Mutual Insurance, of 496,054 common shares of Pretivm (the "Purchased Shares") at a price per share of US$7.25 for gross proceeds to Pretivm of approximately US$3,596,000 (the "Private Placement").

The net proceeds of the Over-Allotment Option to the Company will be used to fund environmental and engineering activities at the Brucejack Project, to fund permitting of the Brucejack Project, to fund continued exploration activities at the Brucejack Project and for general corporate purposes. In addition, Pretivm intends to use the net proceeds of the Private Placement to fund environmental and engineering activities at the Brucejack Project and for general corporate purposes. The Company will not receive any of the proceeds from the sale of the Additional Shares by Silver Standard.

The Additional Shares were sold in each of the provinces and territories of Canada, other than Quebec, by way of a prospectus supplement dated July 22, 2014 to a short form base shelf prospectus dated July 16, 2014 and in the United States pursuant to a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.

A copy of the prospectus supplement and the short form base shelf prospectus may be obtained in Canada from Scotia Capital Inc. attention: Equity Capital Markets (tel: 416-862-5837), Scotia Plaza, 66th Floor, 40 King Street West, M5W 2X6, Toronto, Ontario; or in the United States, attention: Equity Capital Markets (tel: 212-225-6853), 250 Vesey Street, 24th Floor, New York, NY, 10281.

LMM is not permitted to trade the Purchased Shares for a period of four months plus one day from the closing of the Private Placement. 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.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

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 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.

(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 from both the Over-Allotment Option and the Private Placement 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.

Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 558-1784

Pretium Resources Inc.
Michelle Romero
Vice President, Corporate Relations
(604) 558-1784
[email protected]

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