Pretivm Refinances Construction Credit Facility and Repurchases Stream

Press Release

VANCOUVER, British Columbia, Dec. 18, 2018 — Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report that it has closed the previously announced US$480 million debt facility (the “Loan Facility”) to refinance its existing construction credit facility. Additionally, the Company has repurchased 100% of the callable 8% gold and silver stream that was sold as part of the construction financing package for the development of the Brucejack Mine.

“With the refinancing of our construction credit facility and the repurchase of the precious metals stream, we have accomplished all of the objectives we set for ourselves at the start of this year, including the achievement of steady state gold production and the receipt of permit amendments to increase production to 3,800 tonnes per day,” said Joseph Ovsenek, President and CEO of Pretivm. “The ability to achieve these objectives in less than six quarters of production in a declining gold environment speaks to the quality of our team and profitability of Brucejack.”

The Loan Facility comprises a US$250 million senior secured amortizing non-revolving credit facility (the “Term Facility”) and a US$230 million senior secured revolving credit facility (the “Revolving Facility”).

The Term and Revolving Facilities are available by way of (i) US dollar LIBOR loans, with an interest rate ranging from 2.50% to 3.50% over LIBOR (currently one month LIBOR is approximately 2.5 %), based on the Company’s net leverage ratio, or (ii) US dollar base rate loans with an interest rate ranging from 1.50% to 2.50% over the administrative agent’s base rate. The Revolving Facility is also available in various other forms, including letters of credit and in Canadian dollars.

The Term Facility will be repaid in equal quarterly installments of principal and accrued interest starting at the end of second quarter of 2019. The Revolving Facility will reduce to US$200 million in June 2019 and shall be repayable as a bullet (principal and accrued interest) on the maturity date. Any unused portion of the Revolving Facility will be subject to a customary standby fee. The Loan Facility will mature December 2022.

The Loan Facility includes standard and customary finance terms and conditions including with respect to fees, representations, warranties, and covenants and provides for share repurchases and/or cash dividends starting in 2020 (subject to compliance with certain financial covenants). The Joint Lead Arrangers are The Bank of Nova Scotia, SG Americas Securities, LLC and ING Capital LLC.

In conjunction with the closing of the Loan Facility, the Company has executed on the previously announced notice to repurchase 100% of the callable 8% gold and silver stream for US$237 million (see news release dated September 24, 2018).

About Pretivm

Pretivm is a low-cost intermediate gold producer with the high-grade underground Brucejack Mine in northern British Columbia.

For further information contact:

Joseph Ovsenek
President & CEO

Troy Shultz
Manager, Investor Relations &
Corporate Communications

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)

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