Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”)
announces that, further to its news release dated March 9, 2020,
announcing an updated Mineral Reserve and Mineral Resource and Life
of Mine Plan for the Brucejack Mine which highlight the continued
robust economics of the long-life underground operation, the
Company filed a National Instrument 43-101 Standards of Disclosure
for Mineral Projects (“NI 43-101”) technical report entitled
“Technical Report on the Brucejack Gold Mine, Northwest British
Columbia”, with an effective date of March 9, 2020 (the “Technical
Report”). The Technical Report is available under the Company’s
profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and
on the Company’s website at www.pretivm.com.
The Technical Report was prepared by Ivor W.O.
Jones, M.Sc., P.Geo., FAusIMM of Ivor Jones Pty Ltd., Maureen
Phifer, B.Sc., P.Eng. of Tetra Tech Canada Inc. (“Tetra Tech”),
Jianhui (John) Huang, Ph.D., P.Eng. of Tetra Tech, Hassan Ghaffari,
M.A.Sc., P.Eng. of Tetra Tech, Calvin Boese, M.Sc., P.Eng. of SRK
Consulting (Canada) Inc. (“SRK”), Rolf Schmitt, M.Sc., P.Geo. of
Environmental Resources Management Ltd., Alison Shaw, Ph.D., P.Geo.
of Lorax Environmental Services Ltd. (“Lorax”), Mauricio Herrera,
Ph.D., P.Eng. of SRK, Laura-Lee Findlater, B.Sc., P.Geo. of Lorax,
Tim Coleman, M.Sc. DIC, P.Eng., ACSM of SRK and Colin Fraser,
M.Sc., P.Geo. of Lorax, each of whom is a “Qualified Person” as
defined by NI 43-101 and independent of Pretivm.
There are no material differences in the Mineral
Reserves or the Mineral Resources in the Technical Report and those
contained in the March 9, 2020 news release.
First Quarter 2020 Operational and
Financial Results – Webcast and Conference Call
Pretivm plans to release its first quarter 2020
operational and financial results after market close on Thursday,
April 30, 2020. The webcast and conference call to discuss these
results will take place Friday, May 1, 2020 at 8:00 am PT (11:00 am
ET) and can be accessed at www.pretivm.com.
First Quarter 2020 Webcast and
Conference Call Details:
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Friday, May 1, 2020 at 8:00 am PT (11:00 am ET) |
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Webcast |
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www.pretivm.com |
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Toll Free (North America) |
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1-800-319-4610 |
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International and Vancouver |
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604-638-5340 |
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About Pretivm
Pretivm is an intermediate gold producer with
the high-grade gold underground Brucejack Mine.
For further information contact:
Joseph Ovsenek |
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Troy Shultz |
President & CEO |
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Manager, Investor Relations &Corporate Communications |
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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.)
Forward-Looking Information
This news release contains “forward-looking
information”, “forward looking statements”, “future oriented
financial information” and/or “financial outlooks” within the
meaning of applicable Canadian and United States securities
legislation (collectively herein referred to as “forward-looking
information”), including the “safe harbour” provisions of Canadian
provincial securities legislation and the U.S. Private Securities
Litigation Reform Act of 1995, Section 21E of the U.S. Securities
Exchange Act of 1934, as amended, and Section 27A of the U.S.
Securities Act of 1933, as amended. The purpose of disclosing
future oriented financial information and financial outlooks is to
provide a general overview of management’s expectations regarding
the anticipated results of operations and costs thereof and readers
are cautioned that future oriented financial information and
financial outlook may not be appropriate for other purposes.
Wherever possible, words such as “plans”,
“expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”,
“scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”,
“intends”, “modeled’, “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 information.
Forward-looking information may include, but is not limited to,
information with respect to: the estimation of Mineral Reserves and
Mineral Resources, including the 2020 updates thereto; parameters
and assumptions used to estimate Mineral Reserves and Mineral
Resources; realization of Mineral Reserve and Mineral Resource
estimates; our estimated life of mine and life of mine plan for the
Brucejack Mine; production and processing estimates and estimated
rates; production and gold recovery rates; capital, sustaining and
operating cost estimates and timing thereof; estimated economic
results of the Brucejack Mine, including net cash flow and net
present value; expectations around grade of gold and silver
production; predicted metallurgical recoveries for gold and silver;
geological and mineralization interpretations; capital
modifications and upgrades, underground development and anticipated
benefits thereof, and estimated expenditures and timelines in
connection therewith, including with respect to maintaining a
steady state production rate of 3,800 tonnes per day; our mining
(including mining methods), expansion, exploration and development
activities, including the reverse circulation drill program, our
infill, expansion and underground exploration drill programs and
our grassroots exploration program, and the results, costs and
timing thereof; timelines and similar statements relating to the
economic viability of the Brucejack Mine, including mine life,
total tonnes mined and processed and mining operations; production
and cost guidance and our expectations around achieving such
guidance; our grade control program and plans with respect to our
infill drill program and our local grade control model; grade
reconciliation, updated geological interpretation and mining
initiatives with respect to the Brucejack Mine; our operational
plans and strategy; our future operational and financial results,
including estimated cash flows and the timing thereof; payment of
our debt, operating and other obligations and commitments,
including the source of funds and timing thereof; the future price
of gold and silver; our liquidity and the adequacy of our financial
resources; our intentions with respect to our capital resources;
results, analyses and interpretations of explorations and drilling
programs; timing, receipt, and anticipated effects of, and
anticipated capital costs in connection with approvals, consents
and permits under applicable legislation; litigation matters;
environmental matters; our effective tax rate and the recognition
of our previously unrecognized income tax attributes statements
regarding United States dollar cash flows, currency fluctuations
and the recurrence of foreign currency translation
adjustments. 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 results, actions, events, conditions,
performance or achievements to materially differ from those
expressed or implied by the forward-looking information, including,
without limitation, those related to: the accuracy of our Mineral
Resource and Mineral Reserve estimates (including with respect to
size, grade and recoverability) and the geological, operational and
price assumptions on which they are based; uncertainties relating
to inferred Mineral Resources being converted into Measured or
Indicated Mineral Resources; commodity price fluctuations,
including gold price volatility; general economic conditions; the
inherent risk in the mining industry; significant governmental
regulations, including environmental regulations; currency exchange
rate fluctuations; future impacts of the COVID-19 pandemic and
government response to such pandemic; our ability to continue
operations at Brucejack in lieu of the pandemic and the risk of
future shut downs as a result thereof; the
effectiveness of preventative actions and contingency plans put in
place by the Company to respond to the COVID-19 pandemic;
escalation of travel restrictions on people or products;
uncertainty as to the outcome of legal proceedings; the effect of
indebtedness on cash flow and business operations; the effect of
restrictive covenants in our loan documents; assumptions regarding
expected capital costs, operating costs and expenditures,
production schedules, economic returns and other projections; our
production, grade of gold and silver, cash flow and cost estimates,
including the accuracy thereof; our ability to maintain or increase
our annual production of gold at Brucejack or discover, develop or
acquire Mineral Reserves for production; dependency on Brucejack
for our future operating revenue; the development of our properties
and expansion of our operations; our need or ability to raise
enough capital to mine, develop, expand or complete further
exploration programs on our mineral properties; our ability to
generate operating revenues and cash flow in the future; failure of
counterparties to perform their contractual obligations; the
commercial viability of our current and any acquired mineral
rights; availability of suitable infrastructure or damage to
existing infrastructure; transportation and refining risks;
maintaining satisfactory labour relations with employees and
contractors; non-compliance with permits that are obtained or delay
in obtaining or renewing, or failure to obtain or renew permits
required in the future; increased costs and restrictions on
operations due to compliance with health, safety and environmental
laws and regulations; compliance with emerging climate change
regulation and the detrimental effects of climate change; adequate
internal control over financial reporting; various tax-related
matters; potential opposition from non-governmental organizations;
uncertainty regarding unsettled First Nations rights and title in
British Columbia; uncertainties related to title to our mineral
properties and surface rights; land reclamation and mine closure
requirements; our ability to identify and successfully integrate
any material properties we acquire; competition in the mining
industry for properties, qualified personnel and management; our
ability to attract and retain qualified management and personnel;
disruption from changes in management team or failure to
successfully transition new hires or promoted employees into their
roles; some of our directors’ and officers’ involvement with other
natural resource companies; potential inability to attract
development partners or our ability to identify attractive
acquisitions; compliance with foreign corrupt practices regulations
and anti-bribery laws; changes to rules and regulations, including
accounting practices; limitations in our insurance coverage and the
ability to insure against certain risks; risks related to ensuring
the security and safety of information systems, including cyber
security risks; our anti-takeover provisions could discourage
potentially beneficial third-party takeover offers; significant
growth could place a strain on our management systems; share
ownership by our significant shareholders and their ability to
influence our operations and governance and, in case of sales of
our shares by such significant shareholders, our share price;
failure to comply with certain terms of the convertible notes;
reputational risks; future sales or issuances of our debt or equity
securities; the trading price of our common shares is subject to
volatility due to market conditions; we are limited in our ability
to, and may not, pay dividends in the foreseeable future; and
certain actions under United States federal securities laws may be
unenforceable. This list is not exhaustive of the factors that may
affect any of our forward-looking information. Although we have
attempted to identify important factors that could cause actual
results, actions, events, conditions, performance or achievements
to differ materially from those contained in forward-looking
information, there may be other factors that cause results,
actions, events, conditions, performance or achievements to differ
from those anticipated, estimated or intended.
Our forward-looking information is based on the
assumptions, beliefs, expectations and opinions of management on
the date the statements are made, many of which may be difficult to
predict and beyond our control. In connection with the
forward-looking information made in this news release, we have made
certain assumptions about, among other things: our business and
operations and that no significant event will occur outside of our
normal course of business and operations (other than as expressly
set out herein); planned exploration, development and production
activities and the results, costs and timing thereof; future price
of gold and silver and other metal prices; the accuracy of our
Mineral Resource and Mineral Reserve estimates and related
information, analyses and interpretations (including with respect
to any updates or anticipated updates); the geology and
mineralization of the Brucejack deposit; operating conditions;
capital and operating cost estimates; production and processing
estimates; the results, costs and timing of future exploration and
drilling; timelines and similar statements relating to the economic
viability of the Brucejack Mine; timing and receipt of
governmental, regulatory and third party approvals, consents,
licenses and permits; obtaining required renewals for existing
approvals, consents, licenses and permits; the geopolitical,
economic, permitting and legal climate that we operate in; the
adequacy of our financial resources, and our ability to raise any
necessary additional capital on reasonable terms; our ability to
satisfy the terms and conditions of our debt obligations; commodity
prices; currency exchange rates and interest rates; political and
regulatory stability; requirements under applicable laws; market
competition; sustained labour stability and availability of
equipment; positive relations with local groups; favourable equity
and debt capital markets; and stability in financial capital
markets. Although we believe that the assumptions inherent in
forward-looking information are reasonable as of the date of this
news release, these assumptions are subject to significant
business, social, economic, political, regulatory, competitive and
other risks and uncertainties, contingencies and other factors that
could cause actual actions, events, conditions, results,
performance or achievements to be materially different from those
projected in the forward-looking information. The Company cautions
that the foregoing list of assumptions is not exhaustive. Other
events or circumstances could cause actual results to differ
materially from those estimated or projected and expressed in, or
implied by, the forward-looking information contained in this news
release.
Additional information about the risks and
uncertainties concerning forward-looking information and material
factors or assumptions on which such forward-looking information is
based is provided in our Annual Information Form and From 40-F,
each dated February 21, 2020, for the year ended December 31, 2019,
our MD&A for the years ended December 31, 2019 and 2018, and
our other disclosure documents as filed in Canada on SEDAR at
www.sedar.com and in the United States through EDGAR at the SEC’s
website at www.sec.gov (collectively, “the Pretivm Disclosure
Documents”).
Forward-looking information is not a guarantee
of future performance. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Forward-looking information
involves statements about the future and is inherently uncertain,
and our actual achievements or other future events or conditions
may differ materially from those reflected in the forward-looking
information due to a variety of risks, uncertainties and other
factors, including, without limitation, those referred to in this
news release and the Pretivm Disclosure Documents. For the reasons
set forth above, readers should not place undue reliance on
forward-looking information. 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, readers should
not place undue reliance on forward-looking information. Neither
the TSX nor the NYSE has approved or disapproved of the information
contained herein.
Cautionary Note to United States
Investors
Disclosure regarding our mineral properties,
including with respect to Mineral Reserve and Mineral Resource
estimates, in this news release was prepared in accordance with NI
43-101. NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects. NI 43-101 differs significantly from the
disclosure requirements of the Securities and Exchange Commission
(“SEC”) generally applicable to United States companies. For
example, the terms “mineral reserve”, “proven mineral reserve”,
“probable mineral reserve”, “mineral resource”, “measured mineral
resource”, “indicated mineral resource” and “inferred mineral
resource” are defined in NI 43-101. These definitions differ from
the definitions in the disclosure requirements promulgated by the
SEC. Accordingly, information contained in this news release will
not be comparable to similar information made public by United
States companies reporting pursuant to SEC disclosure
requirements.
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