Advancement Of Construction At WBJV Project 1 Platinum Mine

VANCOUVER - Platinum Group Metals Ltd. reported that it achieved solid performance in 2014, with a good safety record, as Project 1 reached 70% completion. Project 1 is planned to be in production in calendar Q4 2015. After a planned two year ramp up period, steady state production is scheduled at 275,000 ounces platinum, palladium, rhodium and gold.

Key accomplishments to date include the advancement of construction at the 82.9% owned WBJV Project 1 Platinum Mine in accordance with plan and cost budget estimate, and growth in the large 29 million inferred ounce new discovery at Waterberg. The Waterberg JV is in pre-feasibility and the deposit is still open for expansion.

The Company also plans to advance both the Waterberg JV Project and the Waterberg Extension Project through project and infrastructure engineering as well as modest confirmation drilling and exploration activities.

Platinum Group is based in Johannesburg, South Africa and Vancouver, Canada. The Company's business is currently focused on the construction of the Project 1 Platinum Mine and the exploration and a resource update and pre-feasibility study on the newly discovered 29 million ounce Waterberg platinum deposit, where the Company is the operator of the Waterberg JV Project with JOGMEC and Mnombo. The Company has also expanded its exploration northward on to the Waterberg Extension Project. The Company is planning initial platinum production in the fourth quarter of calendar 2015, at the WBJV Project 1 Platinum Mine.