Pretium Resources Inc.: Operating Rate of 2,700 Tonnes Per Day
Established for Brucejack Project Feasibility Study
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/25/12 -- Pretium
Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report
that the feasibility study for an underground mine at its high-grade
gold Brucejack Project in northern British Columbia is being advanced
with an operating rate of 2,700 tonnes per day.
The mining method chosen for the feasibility study is long-hole
stoping with cemented paste backfill. Stopes will be mined using a
combination of longitudinal and transverse mining, depending on zone
width and orientation. Cemented paste tailings will be prepared in a
paste plant located on surface near the mill and then pumped
underground for distribution to the stopes.
The feasibility study for the Brucejack Project is expected to be
completed in the second quarter of 2013.
Ian I Chang, M.A.Sc., P.Eng., Vice President, Project Development,
Pretium Resources Inc. is the Qualified Person (QP) responsible for
Brucejack Project development.
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 along strike and at depth. A feasibility study for a
high-grade underground mine in Brucejack's Valley of the Kings is
underway and expected in the second quarter of 2013.
(SEDAR filings: Pretium Resources Inc.)
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.
The TSX has neither approved nor disapproved of the information
Pretium Resources Inc.
President and Chief Executive Officer
Pretium Resources Inc.
Corporate Relations Director
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