VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2012) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report results from the ongoing drill program at its high-grade gold Brucejack Project in northern British Columbia. Current results include a number of assays grading over 1,000 grams per tonne gold and extend the zone of gold mineralization in the Valley of the Kings by 100 meters to the east. (See Table 1 below for assays.)

Selected highlights from the Valley of the Kings include:

• Hole SU-493 intersected:
  
  
  
  
  • 1,751 grams of gold per tonne uncut over 1.19 meters (51.1 ounces gold per ton over 3.9 feet) and
    
    
    
    
  • 1,668 grams of gold per tonne uncut over 0.85 meters (48.6 ounces gold per ton over 2.8 feet);
    
    
    
    
• Hole SU-468 intersected 1,425 grams of gold per tonne uncut over 0.50 meters (41.6 ounces gold per ton over 1.6 feet);
  
  
  
  
• Hole SU-490 intersected 1,350 grams of gold per tonne uncut over 0.50 meters (39.4 ounces gold per ton over 1.6 feet) and
  
  
  
  
• Hole SU-498 (previously reported) intersected 3,874 grams of gold per tonne uncut over 0.50 meters (1.6 feet averaging 112.9 ounces of gold per ton).
  
  
  
  

The high-grade intercept noted above from hole SU-468 was intersected 11.5 meters southeast and 36.0 meters below the previously-reported bonanza-grade intercept from hole SU-452 grading 41,582 grams per tonne gold uncut over 0.50 meters (see news release dated July 25, 2012).

Hole SU-496, a 100-meter eastern step-out hole, intersected 30.1 grams of gold and 1,760 grams of silver per tonne over 0.60 meters. Hole SU-496 was collared on section 426900E and is along trend with hole SU-458.

Assays over 1,000 grams per tonne gold include the previously-reported hole SU-498, a step-out hole 60 meters west of the Brucejack Fault which includes an intercept grading 3,874 grams per tonne gold uncut over 0.50 meters within a longer interval grading 1,034 grams of gold per tonne uncut over 1.88 meters (see news release dated August 14, 2012).

The Valley of the Kings now extends over 700 meters in length and is open to the east, west, and at depth. An updated plan showing the current extent of the Valley of the Kings from hole SU-498 in the west to hole SU-496 in the east will be posted on our web site, www.pretivm.com.

To view the map that accompanies this press release, please visit: http://media3.marketwire.com/docs/pvg-0828-map.pdf.

Nine drills are now turning at Brucejack, with a continued focus on definition drilling and testing extensions of the Valley of the Kings.

Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.

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 high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected in early 2013.

(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. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral resources, realization of mineral resource estimates, 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" 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 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, those risks identified in Pretivm's prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States 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.