Source: Pretium Resources Inc

Pretivm Announces Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2016) - Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") to Orion Co-Investments II (ED) Limited ("Orion") and Zijin Mining Group Co., Ltd. ("Zijin").

Zijin subscribed for 2,786,849 Pretivm common shares (the "Common Shares") and Orion subscribed for 752,906 Common Shares, totaling an aggregate of 3,539,755 Common Shares issued at a price of US$4.58 per Common Share, for aggregate gross proceeds to the Company of approximately US$16,212,078.

Pursuant to a subscription agreement dated December 8, 2014 between Zijin and the Company, Zijin is entitled to maintain its proportionate ownership interest in the Company by participating pro rata in issuances of the Company's Common Shares. Zijin exercised such rights in connection with the Company's public offering of Common Shares that closed on March 1, 2016 (the "Offering"). Pursuant to a subscription agreement dated September 15, 2015 between Orion and the Company, Orion is entitled to maintain its proportionate ownership interest in the Company by participating pro rata in issuances of the Company's Common Shares. Orion has exercised such rights in connection with the Offering. The total number of Common Shares issued in connection with the Private Placement and the Offering was 31,923,755 Common Shares for aggregate gross proceeds to Pretivm of US$146,210,798.

Pretivm intends to use the proceeds of the Private Placement (i) to fund development of the Brucejack Project, (ii) for working capital during start-up and (iii) for general corporate purposes.

Orion and Zijin are not permitted to trade the Common Shares for a period of four months plus one day from the closing of the Private Placement. The Common 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 constructing a high-grade underground gold mine at its Brucejack Project in northern British Columbia with commercial production targeted for 2017.

Regarding 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 the Private Placement, the use of proceeds, our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral reserves and resources including 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, those risks identified in Pretivm's Annual Information Form dated March 28, 2016 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. Pretivm does 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.

Contact Information:

Pretivm Resources Inc.
Joseph Ovsenek
President
(604) 558-1784 / (877) 558-1784

Pretivm Resources Inc.
Troy Shultz
Manager, Investor Relations & Corporate Communications
(604) 558-1784 / (877) 558-1784
invest@pretivm.com
www.pretivm.com