Mr. Robert Quartermain reports

PRETIUM RESOURCES INC.: BRUCEJACK BULK-TONNAGE RESOURCE INCREASES BY 134%; BRUCEJACK HIGH-GRADE RESOURCE OUTLINED

Pretium Resources Inc. has increased its bulk-tonnage gold resource by 134 per cent at its wholly owned Brucejack project located in Northern British Columbia. Measured and indicated resources increased to 8.2 million ounces of gold and 116.1 million ounces of silver, and inferred resources increased to 12.6 million ounces of gold and 151.2 million ounces of silver at a cut-off grade of 0.30 gram of gold equivalent per tonne.

In addition, grade and tonnage estimates within the 0.30-gram-of-gold-equivalent-per-tonne optimized pit shell at a cut-off grade of 5.00 grams of gold equivalent per tonne, contain gold resources of:

• 903,000 ounces of gold and 21.9 million ounces of silver in the measured and indicated resource categories (3.7 million tonnes grading 7.66 grams of gold and 185.84 grams of silver per tonne);
• 1.9 million ounces of gold and 7.5 million ounces of silver in the inferred resource category (4.7 million tonnes grading 12.5 grams of gold and 49.2 grams of silver per tonne).

Grade and tonnage estimates within the 0.30-gram-of-gold-equivalent-per-tonne optimized pit shell at a cut-off grade of 3.00 grams of gold equivalent per tonne contain gold resources of:

• 1.34 million ounces of gold and 31 million ounces of silver in the measured and indicated resource categories (8.4 million tonnes grading 4.96 grams of gold and 114.4 grams of silver per tonne);
• 2.42 million ounces of gold and 12.6 million ounces of silver in the inferred resource category (9.6 million tonnes grading 7.80 grams of gold and 40.74 grams of silver per tonne).

The Brucejack project to date comprises nine modelled deposits. Grade-capping levels were derived for each resource domain from examination of probability and capping graphs. For the Valley of the Kings (VOK) zone, the zone discovered in 2009 that provided intersections of up to 16.95 kilograms per tonne of gold over 1.5 metres, estimation was done using median indicator kriging, and all high-grade intersections above 130 grams per tonne gold were capped at 130 grams of gold per tonne, including the 16.95-kilogram-of-gold-per-tonne intersection.

      BRUCEJACK PROJECT BULK-TONNAGE RESOURCE SUMMARY -- FEBRUARY, 2011 (1)
      (Based on a cut-off grade of 0.30 gram of gold equivalent per tonne)

                                                      Contained (3)       Contained (3)
                       Tonnes     Gold   Silver                gold              silver
Category           (millions)    (g/t)    (g/t)   (thousand ounces)   (thousand ounces)

Measured                 11.7     2.25    75.56                 846              28,423
Indicated               285.3     0.80     9.57               7,338              87,782
Measure and
indicated               297.0     0.86    12.17               8,184             116,205
Inferred (2)            542.5     0.72     8.67              12,558             151,220


(1) Mineral resources for the February, 2011, estimate are defined within a
whittle-optimized pit shell that incorporates project metal recoveries,
estimated operating costs and metals price assumptions. Parameters used in
the estimate include metals prices (and respective recoveries) of
$1,025 (U.S.) per ounce gold (71 per cent) and $16.60 (U.S.) per ounce 
silver (70 per cent). The pit optimization utilized the following cost 
parameters: mining -- $1.75 (U.S.) per tonne, processing -- $6.10 (U.S.) per 
tonne and G&A (general and administrative) -- 90 U.S. cents per tonne along 
with pit slopes of 45 degrees. Mineral resources which are not mineral 
reserves do not have demonstrated economic viability. The estimate of mineral 
resources may be materially affected by environmental, permitting, legal, 
marketing or other relevant issues. The mineral resources in this news release 
were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum 
(CIM) standards on mineral resources and reserves, definitions and 
guidelines prepared by the CIM standing committee on reserve definitions and 
adopted by CIM council.
(2) The quantity and grade of reported inferred resources in this
estimation are uncertain in nature, and there has been insufficient
exploration to define these inferred resources as an indicated or measured
mineral resource, and it is uncertain if further exploration will result in
upgrading them to an indicated or measured mineral resource category.
(3) Contained metal may differ due to rounding.

BRUCEJACK PROJECT 5.00 G/T GRADE AND TONNAGE RESOURCE SUMMARY -- FEBRUARY, 2011(1)(4)
        (Based on a cut-off grade of 5.0 grams of gold equivalent per tonne 
       within the 0.30-gram-of-gold-equivalent-per-tonne optimized pit shell)

                                                      Contained (3)      Contained (3)
                       Tonnes    Gold    Silver                gold             silver
Category           (millions)   (g/t)     (g/t)   (thousand ounces)  (thousand ounces)

Measured                1.947    7.95    241.25                 498             15,102
Indicated               1.722    7.33    123.19                 406              6,820
Measured and
indicated               3.669    7.66    185.84                 903             21,922
Inferred (2)            4.707   12.54     49.24               1,898              7,452


(1)(2)(3) See footnotes to the first table.
(4) The 5.0 g/t grade and tonnage resource summary is a subset of the bulk-
tonnage resource estimate and as such is included within the bulk-tonnage
resource estimate and is not in addition to the bulk-tonnage resource
estimate.

  BRUCEJACK PROJECT 3.00 G/T GRADE AND TONNAGE RESOURCE SUMMARY -- FEBRUARY, 2011 (1)(4)
        (Based on a cut-off grade of 3.0 grams of gold equivalent per tonne
        within the 0.30-gram-of-gold-equivalent-per-tonne optimized pit shell)

                                                        Contained (3)         Contained (3)
                       Tonnes      Gold     Silver               gold                silver
Category           (millions)     (g/t)      (g/t)  (thousand ounces)     (thousand ounces)

Measured                3.495      5.43     177.98                610                19,999
Indicated               4.940      4.62      69.33                734                11,011
Measured and
indicated               8.435      4.96     114.35              1,344                31,010
Inferred (2)            9.637      7.80      40.74              2,417                12,623


(1)(2)(3) See footnotes to the first table.
(4) The 3.0 g/t grade and tonnage resource summary is a subset of the bulk-
tonnage resource estimate and as such is included within the bulk-tonnage
resource estimate and is not in addition to the bulk-tonnage resource
estimate.

The associated tables summarize the high-grade and bulk-tonnage Brucejack project mineral resource totals. The mineral resource estimates contained in this news release were prepared by Eugene Puritch, PEng, F.H. Brown, MSc (Eng), CPG PrSciNat, and Antoine Yassa, PGeo, of P&E Mining Consultants Inc. of Brampton, Ont., independent qualified persons as defined by National Instrument 43-101. Mr. Puritch and Mr. Brown have reviewed and approved the contents of this news release.

The Brucejack project mineral resources were estimated from 362 historic surface drill holes, 439 historic underground drill holes and 107 drill holes completed by Silver Standard Resources Inc., for a total length of 146 kilometres. A bulk-density value for mineral resource estimation of 2.80 tonnes per cubic metre was derived from historic records and 318 measurements taken by Silver Standard. The Brucejack project mineral resource estimate is contained within a volume of 9,800 million cubic metres.

Preliminary economic assessment

Pretium has initiated a preliminary economic assessment (PEA) examining the economics of a higher-grade mining operation at the Brucejack project. The high-grade resource occurs largely in the West zone and the recently discovered VOK zone. The West zone was previously the focus of an extensive exploration program between 1986 and 1990 including 49,800 metres of drilling and over five kilometres of underground development. A feasibility study contemplating a 350-tonne-per-day operation at the West zone was completed in 1990, and a mine approval certificate was granted for the operation. The PEA will use the historic data as well as results of the 2009 and 2010 drill programs and is expected to be completed in the third quarter of this year.

Exploration 2011

Planning is well under way for the 2011 exploration program at Snowfield and Brucejack. Approximately 60,000 metres of drilling is planned with eight drills reserved and drilling expected to commence in May. The 2011 exploration drilling will focus on further delineating the known high-grade mineralization and expanding the high-grade and bulk-tonnage mineralization. Results of the 2011 drill program will be released through the third and fourth quarters of this year.

Known high-grade mineralization

A majority of the 60,000 metres of drilling planned for 2011 will be concentrated on the known areas of high-grade mineralization with the intention of: tightening the drill spacing to increase the level of confidence to move inferred mineral resources to measured and indicated mineral resource categories and to improve knowledge of the continuity of the high-grade mineralization for the VOK and other high-grade zones; testing the high-grade mineralization to depths greater than the current 650 metres; and following up on a number of high-grade intercepts encountered in the 2009 and 2010 drill programs that are not sufficiently defined to be included in the high-grade resource.

High-grade and bulk-tonnage mineralization expansion

The bulk-tonnage Brucejack mineral resource has been outlined along a 2.4-kilometre north-south strike length adjacent to the regional Brucejack fault, up to 400 metres east of the Brucejack fault and to depths of 650 metres below surface. The mineralization remains open in all directions. Of particular exploration interest is the six kilometres of ground along the Brucejack fault between the defined Brucejack mineralization and the Snowfield project to the north.

Pretium looks forward to expanding the Brucejack project and further delineating the high-grade opportunity as it continues to focus on value creation for its shareholders.

Qualified person

Kenneth C. McNaughton, MASc, PEng, is the qualified person (QP) for Pretium Resources and is responsible for the Snowfield and Brucejack project exploration programs and has verified and supervised the preparation of the exploration data. All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multidigestion with ICP finish. Samples over 100 parts per million (ppm) silver were reanalyzed using four-acid digestion with an ore grade AA finish. Samples over 1,000 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.

We seek Safe Harbor.