Equity Financing TSX British Columbia Platinum NYSE American South Africa

Platinum Group Metals secures US $3.2M financing with Hosken Consolidated Investments (HCI)

News Release

Platinum Group Metals Ltd. Announces US$3.19 million Strategic Investment

(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group”, “PTM” or the “Company”) announces that Hosken Consolidated Investments Limited (“HCI”) has agreed to make a strategic investment in the Company which will result in HCI owning, through a subsidiary, 10.0% of PTM’s issued and outstanding shares. HCI has entered into a subscription agreement with the Company, on a private placement basis, for the purchase of 16,767,778 units (the “Units”) at a price of US$0.19 per unit for gross proceeds of US$3,185,878 (the “Private Placement”). Each Unit will consist of one common share and one-half common share purchase warrant, with each full common share purchase warrant allowing HCI to purchase one further common share of the Company at a price of US$0.24 per share for a period of three years from the date of closing of the Private Placement.

HCI is a South African black empowerment investment holding company with a US$1.1 billion market capitalization, listed on the JSE Securities Exchange. HCI’s major shareholder is the Southern African Clothing and Textile Workers’ Union. The group is involved in a diverse group of investments including hotel and leisure; interactive gaming; media and broadcasting; transport; mining; clothing; and properties.

Closing of the Private Placement is subject to customary closing conditions, including stock exchange approvals. Pursuant to the subscription agreement and upon completion of the Private Placement, HCI will be entitled to nominate one person to be appointed to the board of directors of the Company and will have a right to participate in future equity financings of the Company to maintain approximately a 10.0% interest.

HCI’s nominee to the board of directors of Platinum Group will be Mr. John Anthony Copelyn, B.A. Hons, B.Proc., Chief Executive Officer of HCI. Mr. Copelyn joined HCI in 1997. Prior to this he was a member of the South African parliament and general secretary of the Southern African Clothing and Textile Workers’ Union. He is also Chairman of E Media Holdings Ltd., Tsogo Sun Holdings Ltd., Deneb Investments Ltd. and Niveus Investments Ltd.

The Company intends to use the net proceeds of the Private Placement: (i) for repayment of debt due to Liberty Metals & Mining Holdings, LLC; and (ii) as permitted, for general corporate and working capital purposes. A finder’s fee amounting to US$191,153 is to be paid in connection with the Private Placement.

Securities purchased by HCI pursuant to the Private Placement may not be traded for a period of four months plus one day from the closing of the Private Placement. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933 (the “Act”), as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of such Act.

About Platinum Group Metals Ltd.

Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in northern South Africa. Waterberg was discovered by the Company.

On behalf of the Board of
Platinum Group Metals Ltd.
R. Michael Jones
President, CEO and Director

For further information contact:
R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450

The Toronto Stock Exchange and the NYSE American LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

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