Advancing the Brucejack Project

ADVANCING THE BRUCEJACK PROJECT
June 9-10, 2015

1
CAUTIONARY STATEMENT
Forward Looking Information

This Presentation contains forward-looking information and forward looking statements within the meaning of applicable Canadian and United States
securities legislation. Forward-looking information may include, but is not limited to, the anticipated production and developments in our operations in future
periods, information with respect to our planned exploration and development activities, the adequacy of our financial resources, the estimation of mineral
reserves and resources including the 2013 Valley of the Kings Mineral Resource estimate, realization of mineral reserve and resource estimates and timing of
development of our Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates,
capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, 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, projects, assumes, budget, strategy,
scheduled, estimates, forecasts, anticipates, believes, intends, 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 statements and information. Statements concerning mineral reserve and 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 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, including, without limitation, those risks identified in our Annual Information Form dated March 31, 2015 filed on SEDAR at www.sedar.com and
in the United States on Form 40-F through EDGAR at the SECs website at www.sec.gov. Forward-looking information is based on the expectations and
opinions of our management on the date the statements are made. The assumptions used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise. 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 (Reports) Mineral Resources Update Technical Report dated December 19, 2013 and Feasibility Study and Technical Report on the Brucejack
Project, Stewart, BC dated June 19, 2014. We have filed the Reports and Update under our profile at www.sedar.com. Technical and scientific information
not contained within the Reports for the Projects have been prepared under the supervision of Mr. Kenneth C. McNaughton, P.Eng. and Ian Chang, P.Eng.,
each of whom is 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 NI 43-101. Investors are
cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Currency
Unless otherwise indicated, all dollar values herein are in Canadian $.
2
VALUE THROUGH GOLD
High-grade
underground gold
project
Commercial
production target
2017
Located in British
Columbia, Canada
3
AGENDA
Introduction
Joe Ovsenek, President
2015 Underground Infill Drill Program

Ken McNaughton, VP & Chief Exploration Officer
Mine Development & Operations

Jim Currie, VP & Chief Operating Officer
Finance & Cost Control

Tom Yip, Chief Financial Officer
2015 Grassroots Exploration Program

Warwick Board, Chief Geologist
Next Steps, Question & Answer

Michelle Romero, VP Corporate 4
TODAYS PRESENTERS
Joseph J. Ovsenek, B.A. Sc., P.Eng., LLB

President, Director
Mr. Ovsenek has over 20 years of international management and legal experience in the precious metals
industry. He has been responsible for building teams and leading the growth of public resource companies from
early exploration stage to production. Since joining Pretivm in January 2011, he has been responsible for a broad
scope of the companys strategic corporate functions including financing and project permitting. Prior to joining
Pretivm, he served for 15 years in senior management roles for Silver Standard Resources Inc., where he was
responsible for financings, the acquisition and sale of several assets, and was instrumental in developing
corporate strategy. Mr. Ovsenek has served as in-house and external legal counsel in corporate and securities
law practice, has served as a director on the boards of a number of publicly-traded exploration companies in
addition to providing corporate governance counsel. He holds a Bachelor of Applied Science degree from the
University of British Columbia and a Bachelor of Laws degree from the University of Toronto. Mr. Ovsenek is a
registered member of the Association of Professional Engineers and Geoscientists of British Columbia.
Kenneth C. McNaughton, M.A. Sc., P.Eng.

Vice President & Chief Exploration Officer
Mr. McNaughton is a professional geological engineer with over 30 years of global experience developing and
leading mineral exploration programs. Prior to joining Pretivm in 2011, he was Senior Vice President,
Exploration for Silver Standard Resources Inc. where he had been responsible for all exploration programs
since 1991. Prior to joining Silver Standard, he was employed by Corona Corporation and its affiliate Mascot
Gold Mines Ltd. as a project geologist and engineer for projects in British Columbia. Mr. McNaughton holds a
Bachelor of Applied Science degree and a Master of Applied Science degree in geological engineering from the
University of Windsor.
5
TODAYS PRESENTERS
James A Currie, P.Eng.

Vice President & Chief Operating Officer
Mr. Currie has over 34 years of experience in the mining industry and has held roles in senior management,
engineering and operations, on a number of projects that have progressed through feasibility to successful
operation on schedule and budget. Prior to joining Pretivm in 2014, Mr. Currie led the construction and
development of New Gold Inc.'s New Afton gold mine in B.C. which went into production ahead of schedule in
2012. During his tenure as Executive Vice President and Chief Operating Officer of New Gold Inc., Mr. Currie
was responsible for three operating gold mines in the US, Australia, and Mexico with cumulative operating
budgets of over $300 million and an operating profit of over $300 million. Mr. Currie holds a Bachelor of
Applied Science degree with honours in mining engineering from Queen's University and is a registered
professional engineer.
Tom S.Q. Yip, C.A.

Chief Financial Officer
Mr. Yip has over 25 years of financial management experience in the mining industry for exploration and
development companies and producers. Most recently he was Chief Financial Officer for International Tower
Hill Mines Ltd. At his prior position as CFO of Silver Standard Resources Inc. he was a key member of the
leadership team which transitioned the company from exploration and development to production. He began
his mining career at Echo Bay Mines Ltd. before the company merged with Kinross Gold Corporation. Mr. Yip
is a Chartered Accountant and holds a Bachelor of Commerce degree in Business Administration from the
University of Alberta.
6
TODAYS PRESENTERS
Warwick Board, Ph.D., P.Geo, MAusIMM, Pr.Sci.Nat.

Chief Geologist
Dr. Board has over 17 years of global experience as a professional geologist. Prior to joining Pretivm in 2012 he
was Senior Resource Geologist at Silver Standard Resources Inc., where he was involved with the structural
assessment and initial non-linear resource modeling of the high grade gold mineralization at the Brucejack
Deposit. Prior to Silver Standard, he was Principal Consultant at Snowden Mining Industry Consultants Inc. Dr.
Board holds Bachelor of Science (Honours), Master of Science, and Doctor of Philosophy degrees in geology
from the University of Cape Town, South Africa, as well as a Citation in Applied Geostatistics from the
University of Alberta. Dr. Board is a registered professional geoscientist with the Association of Professional
Engineers and Geoscientists of British Columbia, a member of the Australasian Institute of Mining and
Metallurgy, and a registered professional with the South African Council for Natural Scientific Professions.
Michelle Romero, B.A., M.L.S.

Vice President, Corporate
Ms. Romero joined Pretivm in 2011 and previously held the roles of Vice President, Corporate Relations and
Director, Investor Relations. Prior to joining Pretivm she worked in communication and investor relations for
Silver Standard Resources Inc., serving as Communications Director. She began her career as a professional
business librarian in the US, the UK and France. Ms. Romero holds a Bachelor of Arts degree in Journalism and
a Master of Library Science degree from Rutgers University.
7
INTRODUCTION: PROJECT LOCATION
8
INTRODUCTION: GOLD RESERVES(1,2)
West Zone
Valley of the Kings
Valley of the Kings Mineral Reserve Estimate June 2014 West Zone Mineral Reserve Estimate June 2014
Contained Contained
Category Tonnes Gold Silver Gold Silver Category Tonnes Gold Silver Gold Silver
(mil) (g/t) (g/t) (mil oz) (mil oz) (mil) (g/t) (g/t) (mil oz) (mil oz)
Proven 2.1 15.6 12 1.1 0.8 Proven 1.4 7.2 383 0.3 17.4
Probable 11.5 15.7 10 5.8 3.9 Probable 1.5 6.5 181 0.3 8.6
Total P&P 13.6 15.7 11 6.9 4.6 Total P&P 2.9 6.9 279 0.6 26.0
(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014
(2) Base case metals prices of US$1,100/oz gold and US$17/oz silver
9
INTRODUCTION: BRUCEJACK MINE(1)
Mine life of 18 years producing an estimated 7.27 million

ounces of gold
Average annual production of 504,000 ounces of gold

over the first 8 years and 404,000 ounces of gold over
mine life
Gold and silver recoveries of 96.7% and 90.0% over mine

life
Production rate of 2,700 tonnes per day

(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014 10
AGENDA
Introduction





2015 UNDERGROUND INFILL DRILL PROGRAM
Plans and Objectives

40,000 meter infill underground drill program
Primary purpose is grade control, with drilling at 10-meter
centers
Targeting stope areas in years 1-3 of mine plan (1320-meter
level to 1200-meter level)
Additional benefit is infill drilling of inferred and

non-stope indicated resources in the same area
3 drill stations / 32 drill fans
3 drills at peak drilling
12
VALLEY OF THE KINGS EXPLORATION POTENTIAL
Valley of the Kings is open
N Valley of the Kings
to the East and West
Access Ramp
SU-498
0.5m @ 3,874 g/t Au
Bulk Sample
Development
VU-136
0.5m @ 1,100 g/t Au
SU-526
1.16m @ 4,195 g/t Au
Approximate surface
projection of December
Brucejack Fault 2013 Measured & Indicated
resources
200 m
13
VALLEY OF THE KINGS EXPLORATION POTENTIAL
Monzonite Dykes
N Fragmental
Volcanic Rocks S
5m @ 17.34 ppm Volcaniclastic

Au Sediments
SU-628
Volcanic Flows
SU-630 0.5m @
17.95 ppm
Au Valley of the Kings
1.5m @ 32.5 ppm Au
1m @ 11.35 ppm Au
is open at depth
0.5m @ 11.1 ppm Au
Polylithic
Conglomerate Volcanic
10.93m @ 43.57 ppm Flows
Au
SU-629
0.5m @ 26.00 ppm
Au
Key (g/t Au)

(Assay intervals) Key (g/t Au)
1.5m @ 19.05 ppm
<0.5 Au
(Blocks)
(M&I + Inferred)
0.5-1.0 5-10
1.0-5.0 SU-627 10-20
5.0-20.0 >20
>20
200m
Section 426765E (500m wide)

14
2015 UNDERGROUND INFILL DRILL PROGRAM:
PLANNED DRILLING OF YEARS 1-3 STOPES (1)
N
As-Built
Planned
1310m Development
Drill Bay
1320m 1270m
Drill Bay Drill Bay
Grade Blocks (g/t Au) in

In Years 1-3 Stopes
Probable Reserves
5-10
Drill Fan
Azimuths
10-20
20-60
>60 100m
15
PLANNED DRILLING OF AREA LOM STOPES (1)
N
As-Built
Planned
1310m Development
Drill Bay
1320m 1270m
Drill Bay Drill Bay

Life of Mine Stopes
1320m to 1200m level
Probable Reserves
5-10
Drill Fan
Azimuths
10-20
20-60
>60 100m
16
PLANNED DRILLING OF AREA NON-STOPE (1) RESOURCES
N
As-Built
Planned
1310m Development
Drill Bay
1320m 1270m
Drill Bay Drill Bay
Grade Blocks (g/t Au)

Outside of Stopes
Indicated & Inferred
5-10 Drill Fan

10-20 Azimuths
20-60
>60 100m
17
1320 DRILL FANS
1320 Level

In Years 1-3 Stopes (1) 1260 Level
Probable Reserves
5-10
Drill Hole
10-20
20-60
>60 100m
18
1320 AND 1310 DRILL FANS
1310 Drill Bay
1320 Level

Probable Reserves
5-10
Drill Hole
10-20
20-60
>60 100m
19
1320, 1310 AND 1270 DRILL FANS
1310 Drill Bay
1320 Level
1270 Drill Bay

Probable Reserves
5-10
Drill Hole
10-20
20-60
>60 100m
20
2015 UNDERGROUND EXPLORATION PROGRAM:
VIEW WEST OF YEARS 1-3 STOPES
S N
1345 Level
1320 Level
1260 Level

In Years 1-3 Stopes (1)
Proven & Probable
Reserves
5-10
Drill Hole
10-20
20-60
100m
>60
21
AZIMUTH 151 DRILL FAN (COMPLETED)
N
As-Built
Planned
1310m Development
Drill Bay
1320m 1270m
Drill Bay Drill Bay

In Years 1-3 Stopes (1)
Probable Reserves
5-10
Drill Fan
Azimuths
10-20
20-60
100m
>60
22
2015 UNDERGROUND DRILLING RESULTS:
SECTION VIEW - 15M WIDE: AZIMUTH 151
N 1345m Development
S
Polylithic Conglomerate
Volcanic Fragmental Rocks
1320m Drill Bay
VU-412
Silica Cap
VU-413
0.5m @ 347 ppm Au
0.5m @ 448 ppm Au

VU-414
0.5m @ 1325 ppm Au

Key (g/t Au)
0.5m @ 647 ppm Au VU-415
Assay intervals
< 0.5 VU-416
0.5 1.0 Volcaniclastic Sediments

VU-418 VU-417
1.0 5.0
5.0 - 20.0
> 20.0
50m 23
VU-419
ALL DRILLING ON 15M WIDE SECTION, AZIMUTH 151
N 1345m Development
S
1320m Drill Bay
VU-412
Silica Cap
VU-413
0.5m @ 347 ppm Au
0.5m @ 448 ppm Au

VU-414
0.5m @ 1325 ppm Au

Key (g/t Au)
0.5m @ 647 ppm Au VU-415
Assay intervals
< 0.5 VU-416

VU-418 VU-417
1.0 5.0
5.0 - 20.0
> 20.0
50m 24
VU-419
MEASURED AND INDICATED GRADE BLOCKS (1) ON
15M WIDE SECTION, AZIMUTH 151
N S
1345m Development
1320m Drill Bay
VU-412
Silica Cap
VU-413
0.5m @ 347 ppm Au
0.5m @ 448 ppm Au

VU-414
Key (g/t Au)
0.5m @ 1325 ppm Au
0.5m @ 647 ppm Au VU-415

< 0.5
0.5 1.0 VU-416

VU-418 VU-417
5.0 - 20.0
> 20.0
50m
25
VU-419
VU-416 (1,320 g / t Gold)
May 12, 2015
26
2015 UNDERGROUND EXPLORATION PROGRAM:
VU-418 (226 g / t Gold)
May 17, 2015
27
AGENDA
Introduction





MINE DEVELOPMENT AND OPERATIONS:
MANAGEMENT TEAM
Jim Currie
Chief Operating
Existing Camp Area
Officer
Portals
Truck Shop
Kevin Torpy Ian Chang
Camp
Brucejack General Mill VP Project
Development Rock
Disposal
Manager
Laydown &
Development
Fuel Storage West Zone
Portal
Engineering,
Mine Operations Procurement &
Construction
29
MANAGEMENT TEAM
Existing Camp Area
Portals
Truck Shop
Camp
Mill
Development Rock
Disposal Laydown &
Portal
30
TEAMS IN PLACE
VP, Project Development

Existing Camp Area
Engineering
Project controls
Construction management Portals
EPCMTruck Shop
Camp
Mill
General Manager
Development Rock
Disposal
Mine
Fuel
Laydown &
Manager
Storage West Zone
Mill Manager Portal
Technical services group
31
BRUCEJACK CONSTRUCTION SCHEDULE
2014 2015 2016 2017

PRE-CONSTRUCTION ACTIVITIES Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
EA & Permits
Detailed Engineering
Procurement for Major Equipment
STAGE 1 - EARLY CONSTRUCTION WORK

Surface Construction - Phase I
Construct Camp
Road Upgrades
Transmission Line Stage 1
STAGE 2 - FULL PROJECT EXECUTION

Mill Building Construction
Process Plant Construction
SAG & Ball Mill Installation
Transmission Line Completed & Energized
UNDERGROUND
Lateral Development
Raise Development
Underground Infrastructure
PROJECT COMPLETION
Commissioning
Start Commercial Production
32
PRE-CONSTRUCTION ACTIVITIES:
ENGINEERING CONTRACTORS
AMEC Mine EPCM
Experienced team
Red Chris, New Afton, Thompson Creek,
Pogo
Commenced work in September 2014
STANTEC Transmission Line EP

Experienced team
Numerous Projects in BC and Alberta
Commenced work in July 2014
33
DETAILED ENGINEERING - MINE
Engineering Status
30% complete
Final long lead equipment recommendations
issued
Ready to commence bulk earthworks
Procurement/Contract Status
31 RFQs Issued, Bids for 25 received
330-person camp awarded to Civeo
Construction power awarded to Finning
Development assay lab awarded to Met Solve
No change to Feasibility Study cost estimate at May

31, 2015
34
DETAILED ENGINEERING TRANSMISSION LINE
Engineering Status
Approximately 90% complete
Preparation ongoing for field geotech
investigation starting June 15
Procurement/Contract Status
Pole supplier selected
Pole engineering contract awarded
No change to Feasibility Study cost estimate at

May 31, 2015
35
WATER TREATMENT PLANT
Water Treatment Plant Installation of upgraded plant in extended building (2014)
36
Actiflow Units (2014) Baker Tanks (2014)
37
Water Treatment Plant Expansion for construction water flows (2015)
38
110-BED CAMP EXPANSION
Bunkhouse 5 Retaining Wall Blocks
Bunkhouse 6 Foundation Blocks

39
110-BED CAMP EXPANSION
Camp (2015)
40
CONSTRUCTION TO DECEMBER 31, 2015
Construction Power
5 megawatts in place for construction start-up
Earthworks
Work to commence on receipt of permits
(expected summer 2015)
330-Person Camp
Construction of modules in progress
Installation to commence in October 2015
Transmission Line
Work to commence on receipt of permits
(expected summer 2015)
41
CONSTRUCTION TO DECEMBER 31, 2015:
POWER
Existing Camp Area
Portals
Truck Shop
Camp
Mill
Development Rock
Disposal Laydown &
Portal
Genset pad construction

42
PROPOSED BRUCEJACK MINE SITE
43
EARTHWORKS
Existing Camp Area
Portals
Truck Shop
Camp
Mill
Development Rock
Disposal Laydown &
Portal
44
EARTHWORKS
Existing Camp Area
Portals
Truck Shop
Camp
Mill
Development Rock
Disposal Laydown &
Portal
45
EARTHWORKS
Existing Camp Area
Portals
Truck Shop
Camp
Mill
Development Rock
Disposal Laydown &
Portal
46
330-PERSON CAMP
Existing Camp Area
Portals
Camp
Mill
Development Rock
Disposal
Truck Shop
Laydown &
Portal
Exterior of Dorm Module ceiling panel installed and module fully insulated
47
TRANSMISSION LINE
Access Road
Proposed
Transmission
Line
Long Lake
Power Project
48
TRANSMISSION LINE
Existing Camp Area
Portals
Camp
Mill
Development Rock
Disposal
Truck Shop
Laydown &
Portal
HJT Plant (China) Visit Welding Joint Surface Preparation (2015)

49
TRANSMISSION LINE
Existing Camp Area
Portals
Camp
Mill
Development Rock
Disposal
Truck Shop
Laydown &
Portal
HJT Plant (China) Visit Seam Joint Welded by Automatic Welding Machine (2015)
50
CONSTRUCTION:
TIMELINE FOR TRANSMISSION LINE
Period Activity
2015 Tree clearing
Q3 & Q4 Pole foundations for northern portion of the line
2016 Pole installation for northern portion of the line

Q1 & Q2 Pole foundations for southern portion of the line
Substation installation
2016 Pole installations for southern portion of the line

Q3 Conductor installation
Commissioning
51
BRUCEJACK MINE:
VALLEY OF THE KINGS MINERALIZATION
N
S
~0.5 m
Domain 20
52
Cleo West Drift 615L West Raise
BRUCEJACK MINE:
VALLEY OF THE KINGS MINING METHOD
LONGHOLE STOPING 30-meter level spacing

Maximum of 45-meter stope
lengths
15-meter widths
Dilution Factors
Primary Stopes: 7%
Secondary Stopes: 15%
Mining Recovery Factors

Primary Stopes: 97.5%
Secondary Stopes: 92.5%
30 M
SPACING
Average 12 stopes in the
mining and backfill cycle at
any time
53
BRUCEJACK MINE:
MINE DEVELOPMENT REQUIREMENTS
2015 2016 2017
H2 H1 H2 H1 Total
Lateral Waste Development (m) 2,691 3,552 3,182 2,463 11,887
Lateral Ore Development (m) - - 44 217 261
Bulk Excavation (meq) - 70 99 - 168
Raise Development (m) 63 53 1,000 499 1,616
Total 2,754 3,675 4,325 3,179 13,933
54
BRUCEJACK MINE:
UNDERGROUND DEVELOPMENT: JUNE 2015
Ventilation Raise
VR1
Valley of the Kings

1345 level
West Zone Portal
West Zone Historical

Workings
55
BRUCEJACK MINE:
UNDERGROUND DEVELOPMENT: JUNE 2016
Ventilation Raise
VR1
Ventilation Raise
VR2
Valley of the Kings
1345m level West Zone Portal
Valley of the Kings

1260m level
Conveyor Portal
56
BRUCEJACK MINE:
START OF PRODUCTION: JUNE 2017
Ventilation Raise
VR3
Ventilation Raise
VR1
Valley of the Kings
1410m level
Valley of the Kings

Valley of the Kings

1230m level 1300m level Shops
Conveyor Portal
57
BRUCEJACK MINE:
YEAR 1 OF PRODUCTION: JUNE 2018
Ventilation Raise
VR3
Ventilation Raise
Valley of the Kings VR1
1410m level
Valley of the Kings

Valley of the Kings

1230m level Shops
Conveyor Portal
Valley of the Kings
1140m level
58
BRUCEJACK MINE:
YEAR 5 OF PRODUCTION: JUNE 2022
Valley of the Kings
Ventilation Raise 1500m level
VR4
Ventilation Raise
VR1
Ventilation Raise
VR3
Valley of the Kings

Valley of the Kings

1230m level Shops
Conveyor Portal
Valley of the Kings
990m level
59
BRUCEJACK MINE:
LIFE OF MINE
Valley of the Kings
1500m level
Ventilation Raise
VR4 Ventilation Raise
VR1
Ventilation Raise
VR3
Valley of the Kings

Ventilation Raise
VR5
Valley of the Kings

1230m level
Shops
Conveyor Portal
Valley of the Kings
990m level
West Zone
990m level
60
BRUCEJACK MINE: PROJECT FLOW SHEET
61
BRUCEJACK MINE: PROCESSING
Gold and silver recoveries of

96.7% and 90.0% over mine life
Gravity (43.3% LOM) and

flotation (53.4% LOM)
concentration
Bulk sample gravity concentrate at Contact Mill, Montana (2013)
Producing dor and gold/silver
concentrate
Bulk sample processing with

single stage gravity and
flotation concentration yielded
gold recoveries averaging 98%
Bulk sample flotation concentrate at Contact Mill, Montana (2013) 62

BRUCEJACK MINE: MILL LAYOUT
Coarse ore bin
Ball, SAG mills
Flotation tanks
Tailings thickener
63
BRUCEJACK MINE: TAILINGS MANAGEMENT
Approximately 50% of tailings from mine operations go

back underground as paste backfill, with the remaining
deposited at the bottom of Brucejack Lake
Brucejack Lake is not a fish habitat
Brucejack Lake Section View
64
BRUCEJACK MINE: CONSTRUCTION SCHEDULE
2014 2015 2016 2017

PRE-CONSTRUCTION ACTIVITIES Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
EA & Permits
Detailed Engineering
Procurement for Major Equipment
STAGE 1 - EARLY CONSTRUCTION WORK

Surface Construction - Phase I
Construct Camp
Road Upgrades
Transmission Line Stage 1
STAGE 2 - FULL PROJECT EXECUTION

Mill Building Construction
Process Plant Construction
SAG & Ball Mill Installation
Transmission Line Completed & Energized
UNDERGROUND
Lateral Development
Raise Development
Underground Infrastructure
PROJECT COMPLETION
Commissioning
Start Commercial Production
65
BRUCEJACK MINE CAPITAL COSTS (1,2)
Capital Cost Summary
US$746.9 million
Mine
Underground
$179.5m
2014 Feasibility Study
Contingency
$69.0m estimated costs
Owners
Costs $71.0m
Mine Site
$210.8m
Total Direct Costs
US$479.4 million
Indirect
Costs Total Indirect Costs
$127.5m Offsite
Infrastructure US$267.5 million
$89.1m
(2) Mine Site Capital Costs Include; mine site, mine site process, mine site utilities, mine site facilities, tailings facilities, mine
site temporary facilities and surface mobile equipment.
66
BRUCEJACK MINE OPERATING COSTS (1,2,3)
Surface
Services &
Others $21.15
2014 Feasibility Study

estimated costs
General &
Admin $30.87
Operating Cost Summary
Mining $91.34
C$163.05 / tonne
All-In Sustaining Cash Costs

Processing
$19.69
(Life of Mine): US$448/oz (2)
(2) Total cash costs (net of silver credits at Base Case silver price of US$17/oz) and Reclamation Cost Accretion + Sustaining Capital Expenditure / gold sales of
(3)
7.067million oz. See news release dated June 19, 2014.
Mining Operating Costs Include; LOM ore milled; if excluding the ore mined during preproduction, the estimated cost is C$91.78/t. 67
AGENDA
Introduction





BRUCEJACK FINANCE AND COST CONTROL:
ROBUST PROJECT IN ALL GOLD SCENARIOS
Project Economic Results by Metal Price (1)
Low Case Base Case High Case

Gold / Silver Price
$800 / $15 $1,100 / $17 $1,400 / $21
(US$/ounce)
Internal Rate of 20.3% (pre-tax) 34.7% (pre-tax) 47%(pre-tax)

Return 16.5% (post-tax) 28.5% (post-tax) 38.7% (post-tax)
$2.02 billion (pre-tax) $4.16 billion (pre-tax) $6.35 billion (pre-tax)

Net Cash Flow (US$)
$1.34 billion (post-tax) $2.72 billion (post-tax) $4.13 billion (post-tax)
Net Present Value (2) $985 million (pre-tax) $2.25 billion (pre-tax) $3.54 billion (pre-tax)
(5.0% discount) (US$) $620 million (post-tax) $1.45 billion (post-tax) $2.28 billion (post-tax)
Payback (from start of 4.4 years (pre-tax) 2.7 years (pre-tax) 2.0 years (pre-tax)
production period) 4.5 years (post-tax) 2.8 years (post-tax) 2.1 years (post-tax)
Capex
$746.9 $746.9 $746.9
(US$ million)
Exchange Rate
0.92 0.92 0.92
(US$:C$)
(2) NPV is discounted to July 2014.
69
CAPITAL COSTS (1,2)
Capital Cost Summary
US$746.9 million
Mine
Underground
$179.5m
USD sourced construction spend
Contingency
$69.0m ~ 30%
Owners
Costs $71.0m CAD sourced construction spend
Mine Site
$210.8m ~ 70%
Indirect
Costs Feasibility Study US$ Exchange
$127.5m
Offsite Rate - C$0.92
Infrastructure
$89.1m
Total Indirect Total Direct
Costs Costs
US$267.5m US$479.4m
(2) Mine Site Capital Costs Include; mine site, mine site process, mine site utilities, mine site facilities, tailings facilities, mine
site temporary facilities and surface mobile equipment.
70
FINANCING
Capital cost to construct the Brucejack Mine is

estimated at US$746.9 million
Finance structure a potential combination of:

Debt
Callable Gold Stream / Royalty
Equity - Common Share Issue
Convertible Debenture
71
CASH FLOW FIRST 10 YEARS AT BASE CASE
Base Case Metal Prices and Cash Flow (1)

($1,100/oz Au; $17/oz Ag; C$/US$ 0.92)
Year 1 2 3 4 5 6 7 8 9 10
Operating Cash Flow
270 341 394 354 390 412 411 408 327 346
($ million)
Pre-tax Net Cash Flow
193 310 366 336 367 392 384 392 308 329
($ million)
Post-tax Net Cash Flow
188 303 326 234 241 256 248 255 200 213
($ million)
Cumulative Post-tax NCF
188 492 818 1,052 1,294 1,550 1,798 2,054 2,254 2,467
($ million)
(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014 72
CASH FLOW - FIRST 8 YEARS
Cumulative Post Tax Net Cash Flow

$3,000
(Year 5:)
$2,500
$1.3B @ $1100/oz Au
$1.4B @ $1200/oz Au
$1.7B @ $1400/oz Au
$2,000
US $million
Gold Price
$1,500 1,100
1,200
1,400
$1,000
$500
$0
1 2 3 4 5 6 7 8
Year
(1) Source: Feasibility Study and Technical Report Update on the BruceJack Project, dated June 19, 2014 73
FINANCING
Considerations:
Minimize overall cost / Maintain flexibility
Debt finalized coincident with receipt of permits
74
ORGANIZATION
Construction controls Pretivm and Contractors

Project expenditure and scheduling controls
Experienced personnel
Enterprise resource planning software
75
AGENDA
Introduction





2015 GRASSROOTS EXPLORATION:
REGIONAL EXPLORATION
Regional Exploration Potential
Large-scale systems
Large land package in metals-rich area
Pretivm Regional Exploration

(2012-2014)
Surface geological mapping
Surface sampling
Age dating
Structural Interpretation
Airborne geophysics (2014)
1,185 line km Magnetic/
Radiometric Survey
350 line km Electromagnetic
(EM) Survey
77
2015 GRASSROOTS EXPLORATION
78
2015 GRASSROOTS EXPLORATION
Inset: Valley of the Kings
79
PLANNED PROGRAM
Target optimization
Airborne EM and Magnetic Survey
Additional approximately 2,300 Brucejack
line kilometers Lake
Surface mapping and sampling
Surface drilling
10,000 to 15,000 m targeting porphyry
/epithermal-style mineralization
Kitchenview
Flow Dome Zone Zone
Kitchenview Zone
Additional drill targets results-based
Brucejack Lake 80
FLOW DOME ZONE
S N
Valley of
the Kings
West Zone
Brucejack
Latite Flow Lake
Dome
81
ALTERATION DIRECTION
West
Zone
Valley of
the
Kings
82
STRUCTURAL DIRECTION
83
BRECCIA DIRECTION TO SOURCE
Hydrothermal Breccia
N
Intersections in Drillholes
Valley of
the Kings Brucejack
Zone Camp
Brucejack
Lake
Hydrothermal Breccia 84
Surface Outcrop
GEOPHYSICAL AEROMAGNETIC ANOMALY MODELLING
Access
N Road
Kitchenview
Zone
Flow Dome
Brucejack
Zone
Lake
Valley of Property
the Kings Boundary
West Bridge
Brucejack Fault
Zone Zone
2 km
85
Access
N Road
LEGEND
Magnetic Susceptibility Index
S.I. = -0.003
Kitchenview
Zone
Flow Dome
Zone
Valley of
the Kings
West Bridge
Brucejack Fault
Zone Zone
2 km
86
NE Snowfield Valley of SW
the Kings Bridge
Zone
Pipe-like
Pipe-like
Feature
Feature
Deep-seated LEGEND
dome feature
S.I. = -0.003
Vertical Scale: 5,000 m
87
NE Snowfield Kitchenview Flow Valley of SW

Zone Dome the Kings Bridge
Zone Zone
Pipe-like
Pipe-like
Feature
Feature
Deep-seated LEGEND
dome feature
S.I. = -0.003
Vertical Scale: 5,000 m
88
PORPHYRY POTENTIAL TO THE EAST
NE
Kitchenview
Zone
Flow Dome Zone

Knipple
Glacier
Valley of
the Kings
Brucejack Zone
Lake SW
West
Zone
89
PORPHYRY POTENTIAL TO THE EAST
NE
Kitchenview
Zone Flow dome:
same geochemical signature as older
flows and dykes
same age as dykes and mineralization
Flow Dome Zone
(age dates range from 184 to 180 Ma)
Knipple
Glacier
Valley of
the Kings
Brucejack Zone
Lake SW
West
Zone
90
GEOPHYSICAL AEROMAGNETIC ANOMALY SECTION 1
NE
Kitchenview
Zone
Flow Dome Zone
Valley of
Brucejack the Kings
Lake Zone
SW
NE-SW Section 1
91
NE
Kitchenview
Zone
Flow Dome Zone
Valley of
Brucejack the Kings
Lake Zone
SW
NE-SW Section 2
92
NE
Kitchenview
Zone
Flow Dome Zone
Valley of
Lake the Kings
Zone
SW
NE-SW Section 3
93
NE
Kitchenview
Zone
Flow Dome Zone
SW
NE-SW Section 4
94
Kitchenview
Zone
Flow Dome Zone
Possible links from

pipe-like feature
to flow dome
NE-SW Section 5
95
Kitchenview
Zone Flow dome:
same geochemical signature as older
flows and dykes
same age as dykes and mineralization
Flow Dome Zone
(age dates range from 184 to 180 Ma)
Possible links from

pipe-like feature
to flow dome
NE-SW Section 5
96
FLOW DOME ZONE
S N
Valley of
the Kings
West Zone
Brucejack
Latite Flow Lake
Dome
97
PLANNED SURFACE DRILLING FLOW DOME ZONE
Proposed
Drillhole
98
KITCHENVIEW ZONE
N S WNW ESE
Kitchenview
Zone
Latite Flow
Knipple
Dome
Glacier
W E
Kitchenview Zone Kitchenview Zone 99

PLANNED SURFACE DRILLING KITCHENVIEW ZONE
SW NE
500 m
Proposed
Drillholes
Knipple Glacier
100
PLANNED GEOPHYSICAL SURVEY
Proposed
Geophysical
A6 Survey Area N
A5
KV
Z
A4
A1 A3
A2
N
Brucejack Z
Zones KL Gossan
Knipple
Lake
Surface Gossan/Geochemical
Sample Anomaly
101
PLANNED GEOPHYSICAL SURVEY
A6
Proposed 2015
Geophysical
N
Survey Area
A5
KV
Z
A4
A1 A3
A2
Brucejack
Zones KL Gossan
Knipple
Lake
2014
Aeromagnetic Gossan/Geochemical
Survey Anomaly
102
PROPERTY WIDE POTENTIAL
103
KL Gossan
AGENDA
Introduction





Q&A
105

Advancing the Brucejack Project

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ADVANCING THE BRUCEJACK PROJECT

June 9-10, 2015

Forward Looking Information

2015 Underground Infill Drill Program

Mine Development & Operations

Finance & Cost Control

2015 Grassroots Exploration Program

Next Steps, Question & Answer

Joseph J. Ovsenek, B.A. Sc., P.Eng., LLB

Kenneth C. McNaughton, M.A. Sc., P.Eng.

James A Currie, P.Eng.

Tom S.Q. Yip, C.A.

Warwick Board, Ph.D., P.Geo, MAusIMM, Pr.Sci.Nat.

Michelle Romero, B.A., M.L.S.

Valley of the Kings

Mine life of 18 years producing an estimated 7.27 million

Average annual production of 504,000 ounces of gold

Gold and silver recoveries of 96.7% and 90.0% over mine

Production rate of 2,700 tonnes per day

2015 Underground Infill Drill Program

Mine Development & Operations

Finance & Cost Control

2015 Grassroots Exploration Program

Next Steps, Question & Answer

Plans and Objectives

Additional benefit is infill drilling of inferred and

5m @ 17.34 ppm Volcaniclastic

Key (g/t Au)

Section 426765E (500m wide)

Grade Blocks (g/t Au) in

Grade Blocks (g/t Au) in

Grade Blocks (g/t Au)

Indicated & Inferred

5-10 Drill Fan

Grade Blocks (g/t Au) in

1310 Drill Bay

Grade Blocks (g/t Au) in

1310 Drill Bay

1270 Drill Bay

Grade Blocks (g/t Au) in

Grade Blocks (g/t Au) in

Grade Blocks (g/t Au) in

1320m Drill Bay

0.5m @ 448 ppm Au

0.5m @ 1325 ppm Au

< 0.5 VU-416

0.5 1.0 Volcaniclastic Sediments

1320m Drill Bay

0.5m @ 448 ppm Au

0.5m @ 1325 ppm Au

< 0.5 VU-416

1320m Drill Bay

0.5m @ 448 ppm Au

0.5m @ 647 ppm Au VU-415

0.5 1.0 VU-416

May 12, 2015

May 17, 2015

2015 Underground Infill Drill Program

Mine Development & Operations

Finance & Cost Control

2015 Grassroots Exploration Program

Next Steps, Question & Answer

Existing Camp Area