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Pretium Resources Inc
Symbol PVG
Shares Issued 132,582,397
Close 2015-04-01 C$ 6.90
Market Cap C$ 914,818,539
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Pretium gains Nisga'a co-operation for Brucejack

2015-04-02 06:12 ET - News Release

Mr. Robert Quartermain reports

PRETIVM AND NISGA'A NATION SIGN BRUCEJACK PROJECT COOPERATION AND BENEFITS AGREEMENT

Pretium Resources Inc. and the Nisga'a Nation have entered into a comprehensive co-operation and benefits agreement in respect of Pretium's Brucejack project located in northwestern British Columbia. The agreement establishes a long-term, mutually beneficial relationship between Pretium and the Nisga'a Nation, which has rights and interests as defined by the Nisga'a final agreement in the Nass area where portions of the project are located.

Under the terms of the agreement, the Nisga'a Nation will provide continuing support for the development and operation of Brucejack as a safe, environmentally sound mine with participation in its economic benefits, and Pretium will honour commitments to the Nisga'a Nation regarding jobs and contracting opportunities at the project, education and training, and financial payments.

"Nisga'a Nation strives for sustainable prosperity and self-reliance," stated president H. Mitchell Stevens, "and the benefits from the Brucejack project will make an important contribution towards our improved quality of life. Our treaty brings certainty to this type of development and we look forward to working with Pretium."

"We are pleased that a strong relationship with the Nisga'a Nation has grown out of our work with them over the last four years," said Pretium president and chief executive officer Robert Quartermain. "We look forward to their collaboration as we advance Brucejack to production."

The agreement provides for communication, collaboration and co-operation between Pretium and the Nisga'a Nation. Highlights include:

  • Nisga'a Nation collaboration with Pretium in support of the completion of the operational permitting process for the project and subsequent regulatory authorizations;
  • Financial payments by Pretium to the Nisga'a Nation upon the achievement of certain project milestones, and annual production payments based on a percentage of net profits;
  • Pretium's commitment to education and training of Nisga'a citizens so that they will be better able to take advantage of the economic benefits the project offers;
  • A framework for the Nisga'a Nation and Pretium to work together to achieve employment targets and to ensure Nisga'a businesses will have preferred access to contracting opportunities;
  • Mutual co-operation on responding to social impacts which Nisga'a villages may experience as a result of the project.

We seek Safe Harbor.

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