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Platinum Group Metals files National Instrument 43-101 Technical Report on Waterberg Project

Platinum Group Metals Ltd. ("Platinum Group Metals" or the "Company") reports that further to its news release dated April 19, 2016 announcing an updated independent resource estimate on the Company's 58.62% interest in the Waterberg Project located in the Bushveld Igneous Complex, South Africa, it has today filed the associated National Instrument 43-101 technical report.

The report is on a 100% Project basis resource estimate. The report, entitled "Mineral Resource Update on the Waterberg Project Located in the Bushveld Igneous Complex, South Africa" is dated April 29, 2016 and was prepared by Charles J Muller (B. Sc. (Hons) Geology) Pri. Sci. Nat., of CJM Consulting (Pty) Ltd., supporting the disclosure of the independent mineral resource estimate effective April 18, 2016. A copy of the report can be found at and on the Company's website.

The Waterberg deposit is open for expansion and drill results continue to be compiled on the shallow F zones and the deeper parts of the T zone. Pre-feasibility engineering is continuing as planned with completion scheduled for the end of July 2016. Drilling and engineering work is being funded 100% at this time by the Japan Oil, Gas and Metals National Corporation ("JOGMEC") under a US$ 20 million firm commitment to the Joint Venture.

On behalf of the Board of

Platinum Group Metals Ltd.

R. Michael Jones, CEO and Co-founder


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