Pretivm Establishes Head Office and Converts Note
=======================================================================

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2011) - Pretium
Resources Inc. (TSX:PVG) ("Pretivm") is pleased to report that Robert
Quartermain, CEO and President, along with Joseph Ovsenek, Chief
Development Officer and Vice President, Kenneth McNaughton, Chief
Exploration Officer and Vice President, and Kenneth Konkin, Snowfield
and Brucejack Project Manager, continue to expand the management and
project teams with experienced industry professionals focused on
creating shareholder value as they advance the Snowfield Project and
the Brucejack Project (the "Projects"). In order to accommodate the
continued expansion of its management and project teams, Pretivm has
established its head office at 1600, 570 Granville Street, Vancouver,
BC V6C 3P1, with Nicola Fairweather as office manager.

Since the acquisition of the Snowfield Project and the Brucejack
Project in December 2010, Pretivm has been focused on advancing
resource estimates for the Projects incorporating the 51,100 meters of
drilling that was completed on the Projects during the third quarter of
2010. An update of the September 2010 Snowfield resource estimate is
underway incorporating the approximately 18,000 meters of drilling in
44 drill holes completed in 2010. For Brucejack, two resource estimates
are underway incorporating the 33,100 meters of drilling in 73 drill
holes completed in 2010: a higher-grade resource estimate focusing on
gold mineralization grading greater than three grams of gold per tonne;
and an update of the December 2009 bulk tonnage resource estimate. All
three of these resource estimates will now be completed in the first
quarter of 2011 and continue to be Pretivm's current priority.

Pretium also reports that it has issued an additional 3,625,500 common
shares to Silver Standard Resources Inc. ("Silver Standard") in final
settlement of the convertible promissory note issued to Silver Standard
in connection with the acquisition of the Projects. With this issuance,
Silver Standard's ownership interest in Pretivm is 42.31% of the total
issued common shares of Pretivm.

About Pretivm

Pretivm is a start-up company that intends to acquire, explore and
develop gold and precious metals resource properties, initially in the
Americas. Pretivm has 100% interest in the Snowfield and Brucejack
Projects in northern British Columbia; combined they represent one of
the largest underdeveloped gold resources in North America. Pretivm's
near term objectives are to focus on the high-grade gold opportunity at
Brucejack, to advance the Projects to pre-feasibility and to explore
for and acquire other precious metal resource properties.

www.pretivm.com

SEDAR filings: Pretium Resources Inc.

Forward Looking Statement: This Press Release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information may include, but is not
limited to, information with respect to our plans, costs and timing for
future exploration (including updated resource estimates) and
development activities, results of future exploration, timing and
receipt of approvals, consents and permits under applicable
legislation, production and developments in our operations in future
periods and adequacy of financial resources. Wherever possible, words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "anticipate" or "does not anticipate",
"believe", "intend" and similar expressions or statements that certain
actions, events or results "may", "could", "would", "might" or "will"
be taken, occur or be achieved, have been used to identify
forward-looking 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
(often, but not always, using words or phrases such as "expects",
"anticipates", "plans", "projects", "estimates", "assumes", "intends",
"strategy", "goals", "objectives", "potential" or variations thereof,
or stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions) 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 final prospectus (Pretium Resources Inc.) filed
on SEDAR at www.sedar.com. 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.

The TSX has neither approved nor disapproved of the information
contained herein.

CONTACT INFORMATION:

Pretium Resources Inc.
Robert Quartermain
President
604.601.8240

or

Pretium Resources Inc.
Investor Relations
604.637.6823
invest@pretivm.com
www.pretivm.com