VANCOUVER, British Columbia, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm”
or the “Company”) is pleased to report that it has received the amended permits to increase the Brucejack Mine production rate to
3,800 tonnes per day from the BC Ministry of Energy, Mines and Petroleum Resources and the BC Ministry of Environment and Climate
Change Strategy.
The amended permits allow for a production increase to an annual rate of 1.387 million tonnes from 0.99 million
tonnes (daily average of 3,800 tonnes from 2,700 tonnes).
Minor mill upgrades (estimated to cost less than CAD$25 million) to support the production rate increase are
required and will be completed during regularly scheduled mill shutdowns. A specific timeline for ramp-up to the 3,800 tonnes per
day production rate along with an updated mine plan is expected in the first quarter of next year.
Lyle Morgenthaler, B.A.Sc., P.Eng., Chief Mine Engineer, Pretium Resources Inc. is the Qualified Person
responsible for Brucejack Mine development.
About Pretivm
Pretivm is a low-cost intermediate gold producer with the high-grade underground Brucejack Mine in northern
British Columbia.
For further information contact:
Joseph Ovsenek
President & CEO
Troy Shultz
Manager, Investor Relations &
Corporate Communications
Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)
Forward-Looking Statements
This news release contains “forward-looking information”, “forward looking statements”, “future oriented
financial information” and/or “financial outlooks” within the meaning of applicable Canadian and United States securities
legislation (collectively herein referred to as “forward-looking statements” or “forward-looking information”). The purpose
of disclosing future oriented financial information and financial outlooks is to provide a general overview of management’s
expectations regarding the anticipated results of operations and costs thereof and readers are cautioned that future oriented
financial information and financial outlook may not be appropriate for other purposes. Wherever possible, words such as “plans”,
“expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”,
“believes”, “intends”, “modeled’, “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. 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 statements. Forward-looking information may include,
but is not limited to, information with respect to: our planned mining, exploration and development activities, including our
regional grass-roots exploration program, our deep hole underground exploration drilling and our expansion drilling, and the
results, plans and timing thereof; production and cost guidance; anticipated results of our operations; our operational grade
control program, including plans with respect to our infill drill program and our local grade control model; the reconciliation of
the global resource model for the Valley of the Kings and the anticipated timing thereof; capital and operating cost estimates;
production and processing estimates; the future price of gold and silver; the adequacy of our financial resources; our intentions
with respect to our capital resources; our financing activities, including plans for the use of proceeds thereof; the estimation of
mineral reserves and resources including the 2016 Valley of the Kings Mineral Resource estimate and the Brucejack Mineral Reserve
estimate; realization of mineral reserve and resource estimates; timing of further development of our Brucejack Mine; costs and
timing of future exploration and development; capital and operating cost estimates; timelines and similar statements relating to
the economic viability of the Brucejack Mine, including mine life, total tonnes mined and processed and mining operations; timing,
receipt, and anticipated effects of approvals, consents and permits under applicable legislation, including the estimated cost and
timing of increase in production and the timing of the updated mine plan; our executive compensation approach and practice; our
relationship with community stakeholders; litigation matters; environmental matters; and statements regarding USD cash flows
currency fluctuations and the recurrence of foreign currency translation adjustments. Statements concerning mineral resource
estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the
mineralization that will be encountered if the property is developed. Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those
expressed or implied by the forward-looking statements, including, without limitation, those related to: the accuracy of our
mineral resource and reserve estimates (including with respect to size, grade and recoverability) and the geological, operational
and price assumptions on which they are based; uncertainties relating to inferred mineral resources being converted into measured
or indicated mineral resources; commodity price fluctuations, including gold price volatility; general economic conditions; the
inherent risk in the mining industry; significant governmental regulations; currency fluctuations, and such other risks as are
identified in Pretivm’s Annual Information Form dated March 28, 2018, Form 40-F dated March 28, 2018 and other applicable
disclosure documents filed on SEDAR at www.sedar.com and in the United States through EDGAR at the Security and Exchange
Commission’s website at www.sec.gov (collectively, the “Pretivm Disclosure Documents”). Our forward-looking statements are based on
the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be
difficult to predict and beyond our control. In connection with the forward-looking statements contained in this news
release, we have made certain assumptions about our business, including about our exploration, development and production
activities, and the results, costs and timing thereof; timing and receipt of approvals, consents and permits under applicable
legislation; the geopolitical, economic, permitting and legal climate that we operate in; the price of gold and other commodities;
exchange rates; market competition; the adequacy of our financial resources, and such other material assumptions as are identified
in the Pretivm Disclosure Documents. We have also assumed that no significant events will occur outside of our normal course of
business. Although we believe that the assumptions inherent in the forward-looking statements are reasonable as of the date of this
news release, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein. We do not assume any obligation to update forward-looking
statements, 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 statements. Neither the TSX nor
the NYSE has approved or disapproved of the information contained herein.