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November 2011
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Page 1: Pretivm november 2011 web

November 2011

Page 2: Pretivm november 2011 web

1

Forward Looking Information This Presentation contains ‘‘forward-looking information’’ within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to the anticipated production and developments in our operations in future periods, our planned exploration and development activities, the adequacy of our financial resources, the estimation of mineral resources, realization of mineral resource estimates, costs and timing of development of the projects we currently intend to acquire (the “Projects”), costs and timing of future exploration, results of future exploration and drilling, timing and receipt of approvals, consents and permits under applicable legislation, our executive compensation approach and practice, the composition of our board of directors and committees, and adequacy of financial resources. Wherever possible, words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, ‘‘forecasts’’, ‘‘anticipate’’ or ‘‘does not anticipate’’, ‘‘believe’’, ‘‘intend’’ and similar expressions or statements that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will’’ be taken, occur or be achieved, have been used to identify forward-looking 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 (often, but not always, using words or phrases such as ‘‘expects’’, ‘‘anticipates’’, ‘‘plans’’, ‘‘projects’’, ‘‘estimates’’, ‘‘assumes’’, ‘‘intends’’, ‘‘strategy’’, ‘‘goals’’, ‘‘objectives’’, ‘‘potential’’ or variations thereof, or stating that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will’’ be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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. Many of these risks are listed and described in our final short-form prospectus dated April 4, 2011 (the “Prospectus”), which is available for review on SEDAR at www.sedar.com under our profile. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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 the Prospectus under the heading ‘‘Risk Factors’’. Our forward-looking information is based on the beliefs, expectations and opinions of management on the date the statements are made, and 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. National Instrument 43-101 Technical and scientific information contained herein relating to the Projects is derived from National Instrument 43-101 (“NI 43-101”) compliant technical reports “Technical Report and Updated Resource Estimate on the Snowfield Property” and “Technical Report and Updated Resource Estimate on the Brucejack Property” dated February 18, 2011, a preliminary economic assessment entitled ‘‘Technical Report and Preliminary Economic Assessment of the Snowfield Brucejack Project’’ dated October 28, 2010 (the “Preliminary Assessment”) and a preliminary economic assessment dated June 3, 2011 on the Brucejack Project and news release dated November 28, 2011. We have filed the Technical Reports, Preliminary Assessment and news release under our profile at www.sedar.com. Technical and scientific information not contained within the Preliminary Assessment and Technical Reports for the Projects have been prepared under the supervision of Mr. Kenneth C. McNaughton, an independent “qualified person” under NI 43-101. This presentation uses the terms “measured resources”, “indicated resources” (together “M&I”) and “inferred resources”. Although these terms are recognized and required by Canadian regulations (under NI 43-101), the United States Securities and Exchange Commission does not recognize them. 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, title, taxation, socio-political, marketing, or other relevant issues. There is no guarantee that all or any part of the mineral resource will be converted into mineral reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre feasibility studies, or economic studies, except for a Preliminary Assessment as defined under NI43 101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. U.S. Securities Law Disclaimer Our securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and, subject to certain exceptions, may not be offered or sold within the United States. Investors resident in the United States will be required to acknowledge that the securities are "restricted securities" within the meaning of Rule 144, and that if in the future an investor decides to offer, resell, pledge or otherwise transfer any of the securities, it may do so only (a) to the Corporation; (b) outside the United States in accordance with Rule 904 of Regulation S under the Securities Act and in compliance with applicable Canadian and provincial laws and regulations; (c) within the United States in accordance with Rule 144, if available, and in compliance with any applicable state securities laws of the United States; or (d) in another transaction that does not require registration under the Securities Act or any applicable state securities laws of the United States. Our securities have not been approved or disapproved by the United States Securities and Exchange Commission or by any state securities commission or regulatory authority, nor have any of the foregoing authorities passed on the accuracy or adequacy of any offering document provided in connection with the offering of these securities. Currency Unless otherwise indicated, all dollar values herein are in Canadian $.

DISCLAIMER

Page 3: Pretivm november 2011 web

2

Brucejack: High-grade Gold Opportunity Catalyst for near-term production

Brucejack: Bulk-tonnage Gold Opportunity Surrounding high-grade core zones

Snowfield: Bulk-tonnage Gold Opportunity Long-term call option

WHY PRETIVM? Our exploration projects in British Columbia offer

Page 4: Pretivm november 2011 web

BRUCEJACK AND SNOWFIELD PROJECTS

3

Page 5: Pretivm november 2011 web

BRUCEJACK HIGH-GRADE: HISTORY

4

Exploration

West Zone discovery and definition

Underground development of West Zone – 5.3 meters.

West Zone Feasibility study completed

Mine Development Certificate issued.

Acquisition by Silver Standard Resources Inc.

Exploration resumes. Discovery of Valley of the Kings Zone.

PEA on Brucejack high-grade. 73,000-meter drill program.

120,000 meters of drilling in 908 holes from 1980-1994

5.3 kilometers of underground development 1986-1990

Previously permitted for mine development in 1993

1960-1980

1980-1985

1986-1989

1990

1993

1999-2000

2009-2010

2011

SU-115 intersects gold grading 18,754 grams per

tonne over 0.60 meters

Page 6: Pretivm november 2011 web

BRUCEJACK EXPLORATION

5

>0.3 g/t gold

500m Existing 5km underground workings

Historical drilling: M&I: 421,000 oz Au Inferred: 82,700 oz Au

2009 drilling: M&I: 4.0M oz Au Inferred: 4.9Moz Au

2010 drilling: M&I: 8.2M oz Au Inferred: 12.6Moz Au

2011 drilling: (176 DDH/72,144m) M&I: 12.9M oz Au Inferred: 18.2M oz Au

Historical drilling

2009/2010 drilling

2011 drilling

West Zone

Valley of the Kings Zone

North – South

Page 7: Pretivm november 2011 web

VALLEY OF THE KINGS: TOP HITS

6

In 2011, a total of 24 intersections with uncut grades over 1,000 g/t gold were intersected in 17 holes, all in Valley of the Kings Zone

Hole

No. From

(meters) To

(meters) Interval (meters)

Gold (g/t)

Silver (g/t)

SU-115

60.60 61.20 0.6 18,754 9,312

SU-260

65.84 66.34 0.50 17,750 7,780

SU-266

343.69 344.25 0.56 13,600 6,910

SU-230

305.73 306.73 1.00 7,420 3,800

SU-150

76.38 76.88 0.50 6,670 3,630

SU-269

295.08 295.76 0.68 6,110 2,220

SU-195

349.39 349.89 0.50 5,740 2,750

SU-115

76.10 76.61 0.51 4,209 2,039

SU-132

57.68 58.18 0.50 4,060 1,660

SU-249

115.59 116.09 0.50 3,880 1,745

2011 Top Ten Highest-Grading Gold Intersections at Brucejack:

Page 8: Pretivm november 2011 web

VISIBLE GOLD

7

SU-230 (2011) 7,420 g/t Au

1.0 m

SU-195 (2011) 5,740 g/t Au

0.5 m

SU-115 (2011) 18,755 g/t Au

0.6 m

SU-84 (2010) 5,480 g/t Au

0.4 m

SU-29 (2009) 5,344 g/t Au

0.5 m

SU-12 (2009) 16,948 g/t Au

1.5 m

SU-260 (2011) 17,750 g/t Au

0.5 m

Page 9: Pretivm november 2011 web

8

(3) The Underground Sensitivity is a sensitivity study of the Brucejack underground potential and is not meant to supercede or replace the results of the bulk-tonnage mineral resource estimate. Sensitivity results are not reported within a constraining Whittle pit shell.

BRUCEJACK – HIGH-GRADE

High-Grade PEA update underway

High-Grade Feasibility Study underway

Brucejack Project Underground Sensitivity to the Resource Estimate – November 2011(1)(3) (Based on a cut-off of 5.0 grams of gold-equivalent/tonne)

(1) Metal price and recoveries assumptions are: Au US$1,200/oz. (71%); Ag US$22/oz. (70%)

Category

Tonnes

(millions)

Gold (g/t)

Silver (g/t)

Contained

Gold (million oz)

Silver (million oz)

Measured 2.4 7.93 236.1 0.60 18.0 Indicated 6.9 19.99 60.9 4.46 13.6 M+I 9.3 16.92 105.6 5.06 31.6 Inferred 4.0 25.67 20.6 3.33 2.7

Brucejack Project 5.0 g/t Grade & Tonnage Estimate – November 2011

(1)(2)

(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne

Category

Tonnes

(millions)

Gold (g/t)

Silver ( g/t)

Contained

Gold (million oz)

Silver (million oz)

Measured 2.4 7.29 241.2 0.57 18.9 Indicated 6.1 24.13 53.3 4.76 10.5 M+I 8.6 19.35 106.7 5.33 29.4 Inferred 4.0 25.73 22.0 3.29 2.8

(2) 5.0 g/t cutoff within the 0.30 grams of au-equiv /tonne optimized pit shell

Page 10: Pretivm november 2011 web

WEST ZONE

9

Page 11: Pretivm november 2011 web

WEST ZONE SECTION

10

Page 12: Pretivm november 2011 web

VALLEY OF THE KINGS

11

Page 13: Pretivm november 2011 web

VALLEY OF THE KINGS

12

Page 14: Pretivm november 2011 web

West Zone VOK Zone

N S

5x5x5 blocks >5.0 g/t Au-equiv

HIGH-GRADE RESOURCE AREAS

13

Page 15: Pretivm november 2011 web

Average processing rate of 1,500 tonnes/day producing gold-silver doré

Average gold recovery of 93% over life of mine

Capital cost of US$281.7 million; operating costs of C$158.36/t milled(3)

Total life of mine (16 years) production of 2.16 million ounces of gold and 14.72 million ounces of silver

JUNE 2011 BRUCEJACK HIGH-GRADE PEA(1,2)

Base Case

Spot Price Case

Gold Price (US$/oz) 1,100 1,536.30

Silver Price (US$/oz) 21.00 37.86

NPV @ 5% (US$ mm) 662 1,416

IRR (%) 27.1 48.3

Payback (yrs) 4.2 2.5

Exchange rate (US$:C$) 0.93 1.02

(1) Source: Technical Report and Preliminary Economic Assessment of the Brucejack Project, effective date June 3, 2011. (2) Underground mining for first 12 years followed by small-scale open pit mining. (3) Operating cost for underground operation. Open pit operating cost estimated at C$68.77/tonne milled.

Pre-Tax Economic Results

Years 1 – 10

Life of Mine

Average Annual Production

Gold (oz) 173,200 135,000

Silver (oz) 1.1 million 918,000

Total Production

Gold (oz) 1.73 million 2.16 million

Silver (oz) 11.15 million 14.72 million

Production Summary

14

Page 16: Pretivm november 2011 web

LARGE-SCALE NORTH AMERICAN GOLD PROJECTS

15

Sn

ow

fie

ld

B

ruce

jack

(SEA)

(PVG)

(NG/ABX)

(DGC) (OSK)

(ITH)

(NDM)

40.4

9.0 14.5

4.4 5.1 0.9

4.9

66.9

25.9

45.3

37.9

20.5 22.5 15.3

18.2

12.9

0

20

40

60

80

100

120

Go

ld R

eso

urc

es

(mm

oz.)

Inferred Resources Measured + Indicated Resources

Page 17: Pretivm november 2011 web

16

Gold/silver vein systems within lower grade envelopes

Mineralization remains open

(1) Metal price and recoveries assumptions are: Au US$1,200/oz. (71%); Ag US$22/oz. (70%)

BRUCEJACK PROJECT

(2)@ 1.25 g/t cut-off within the 0.30 grams of au-equiv/tonne optimized pit shell.

Category

Tonnes

(millions)

Gold (g/t)

Silver ( g/t)

Contained

Gold (million oz)

Silver (million oz)

Measured 12.2 2.50 81.6 0.99 32.1 Indicated 293.0 1.26 10.5 11.91 99.3 M+I 305.3 1.31 13.4 12.89 131.5 Inferred 813.7 0.70 7.7 18.20 201.2

Category

Tonnes

(millions)

Gold (g/t)

Silver (g/t)

Contained

Gold (million oz)

Silver (million oz)

Measured 9.3 3.08 102.2 0.92 30.6 Indicated 64.8 3.62 23.7 7.53 49.4 M+I 74.1 3.55 33.6 8.46 80.0 Inferred 78.5 2.68 16.3 6.76 41.2

Brucejack Project Bulk-Tonnage Mineral Resource Estimate – November 2011

(1)

(Based on a cut-off grade of 0.30 grams of gold-equivalent/tonne)

Brucejack Project 1.25 Grade & Tonnage Estimate – November 2011

(1),(2)

Page 18: Pretivm november 2011 web

17

FOCUSED ON OBJECTIVES

Q1 2011

IPO raises US$285M

Resource Updates

Projects Acquired

Brucejack High-grade PEA

173,200 oz gold per/year for first 10 years

One of first holes encounters 18, 755 g/t gold, a record grade for project

Management appointments

Q2 2011 Dec. 2010 Q3 2011 Q4 2011 Q1 2012

Joint engineering study with Seabridge examining Snowfield + KSM

Brucejack Resource Update

Update Brucejack H-G PEA

+72,000-meter Brucejack drill program

Brucejack Integrated PEA

Brucejack H-G Feasibility

Page 19: Pretivm november 2011 web

COMMUNITY RELATIONS & SUSTAINABILITY

18

Pretivm’s Social Responsibility Policy reflects our commitment to establishing positive, trusting relationships with local communities and key stakeholders

We are working to ensure that communication with local communities is open and continuous, and that the benefits of our exploration success can extend to them

Pretivm’s management team has been cooperatively engaging with local community leaders in the Stewart, BC region for over 10 years

We have begun the consultation process with community leaders concerning the Brucejack high-grade opportunity

Page 20: Pretivm november 2011 web

19

RESOURCE COMPARISON: BRUCEJACK HIGH-GRADE

Brucejack gold resources based on a cut-off grade of 5.0 grams of gold-equivalent/tonne within the 0.30 grams of gold-equivalent/tonne optimized pit shell. Source: Intierra Ltd.

0.0

5.0

10.0

15.0

20.0

25.0

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

Measu

red

& I

nd

icate

d +

In

ferr

ed

Go

ld G

rad

e (

g/t

)

Measured & Indicated + Inferred Gold Resources (mm oz)

Brucejack (2011)

Kensington

Red Lake

Eleonore

Quimsacocha

El Penon

Casa Berardi

Jerritt Canyon

Kirkland Lake

Brucejack (2010)

Cerro Negro

Page 21: Pretivm november 2011 web

20

SHAREHOLDING AND ANALYST COVERAGE

Capital Structure(1,2)

Public Float 68.0 Silver Standard Shares 18.9 Total Issued & Outstanding Shares 86.9

Incentive Options 5.1 Total Fully Diluted Shares Outstanding 92.6

(1)Assumes the exercise of 5,750,000 share purchase warrants each exercisable to purchase one share of Pretivm owned by Silver Standard at $12.50 until April 7, 2012. (2)As of July 15, 2011; ownership calculated on an undiluted basis. (3)As of November 24. Source: IPREO, SEDI

(millions)

Institutions, 50%

Retail, 23%

Management, 5%

Silver Standard,

22%

Analyst Coverage

CIBC Brian Quast Citibank Alex Hacking Dahlman Rose Adam Graf

Top Five Shareholders(1,3) (shares in millions)

Silver Standard Resources 18.913 Royce & Associates 6.346 Carmignac Gestion 6.150 Robert Quartermain 2.876 Norges Bank Investment 2.094

Working Capital (at September 30) C$33.0 million

Page 22: Pretivm november 2011 web

21

MANAGEMENT TEAM & BOARD(1)

Robert Quartermain, B.Sc., M.Sc, P.Geo, D.Sc. President & Chief Executive Officer, Director

Peter de Visser, CA Chief Financial Officer

Joseph Ovsenek, B.A. Sc., P.Eng, LLB Vice President & Chief Development Officer, Director

Ken McNaughton, M.A. Sc., P.Eng. Vice President & Chief Exploration Officer

Ken Konkin, P.Geo. Project Manager

(1)All senior management and directors are shareholders of Pretivm

Ian I Chang, M.A. Sc., P.Eng. Vice President, Project Development

Ross Mitchell, CA Director Former CFO, Silver Standard Resources Inc.

John Smith Director Chief Executive Officer, Silver Standard Resources Inc.

Noel Dunn Lead Director Managing Director, Liberty Metals & Mining Liberty Mutual Group Asset Management Inc.

Tom Yip, CA Director Chief Financial Officer, International Tower Hill Mines Ltd

Page 23: Pretivm november 2011 web

22

High-grade Gold Opportunity: Brucejack

Quicker path to production; can be financed without a partner

PEA update underway – targeted for completion in Q1 2012

Feasibility Study – targeted for completion in Q4 2012

Integrated High-grade /Bulk-tonnage: Brucejack

High-grade gold contained in lower-grade envelope

Scale-up from high-grade opportunity

PEA targeted for completion Q2 2012

Bulk tonnage Gold Opportunity: Snowfield

One of the largest undeveloped gold deposits in the world

Joint engineering study with SEA for Snowfield + KSM expected Q1 2012

WHY PRETIVM?

We have three opportunities to add

Page 24: Pretivm november 2011 web

Head office

Pretium Resources Inc.

570 Granville St. Suite 1600

Vancouver, BC Canada V6C 3P1

Contact

Phone: 604-558-1784

Fax: 604-558-4784 Toll-free: 1-877-558-1784

[email protected] www.pretivm.com

Common Shares

TSX:PVG

Issued: 86.9 million Fully diluted: 92.0 million

52-week hi/low: $14.19/$5.75 Market capitalization (at November 24, 2011)

$742 million


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