Intercepted Platinum Group Metals Mineralization At Near Bushveld Complex

VANCOUVER - Platinum Group Metals Ltd. announced that exploration borehole WE153 has intercepted platinum group metals mineralization consistent with both the T Zone and F Zone as found within the mineral resources and reserves of the proposed Waterberg Mine, located on the Northern Limb of the Bushveld Complex in South Africa, (Waterberg Project). Borehole WE153 was collared on prospecting rights owned by Waterberg JV Resources (Pty) Ltd. ("Waterberg JV Co.") located adjacent to the north of the Waterberg Project mining right. The borehole collar was positioned along a projected strike line approximately 16 kilometers north from the area of delineated T Zone mineral resources and approximately 8 kilometers north from the area of delineated F Zone mineral resources.

Borehole WE153 intercepted 7.02 meters of mineralized T Zone beginning at a depth of 1,272.98 meters. The mineralized interval displayed approximately 2% to 4% blebby copper, nickel, and iron sulphides. The drill core was logged, and the mineralized intercept recovered was sampled and sent for assay by Intertek Genalysis Minerals in Australia.

Borehole WE153 had been drilled to a depth of 1,990.35 meters. At a depth of 1,757.94 meters the borehole intercepted olivine-rich lithologies consistent with the F Zone and at a depth of 1,972.19 meters the borehole intercepted the felspathic pyroxenite top contact of the F Zone. An F Zone intercept of 9.42 meters of approximately 2% to 4% blebby copper, nickel, and iron sulphides has been observed. After a depth of 1,981.61 only sporadic sulphides were observed. Drilling is expected to continue for only a short distance further.