Anglo American Platinum and Platinum Group Metals Ltd. Launch New Venture to Develop Next Generation Battery Technology
838 – 1100 Melville Street
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News Release No. 19-396
July 15, 2019
Anglo American Platinum and Platinum Group Metals Ltd. Launch
New Venture to Develop Next Generation Battery Technology
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group”, “PTM” or the “Company”) reports that Anglo American Platinum Limited
(“Anglo American Platinum”) and Platinum Group have launched a new venture, Lion Battery
Technologies Inc. ( “Lion”), to accelerate the development of next -generation battery
technology using platinum and palladium. The possibility of creating additional demand for
platinum and palladium in the battery technology space is an exciting development and of
strategic importance to both parties.
The new venture, Lion, has entered into an agreement with Florida International University
to further advance a research programme that uses platinum and palladium to unlock the
potential of Lithium Air and Lithium Sulfur battery che mistries to increase their discharge
capacities and cyclability.
Under the agreement with Florida International University, Lion will have exclusive rights to
all intellectual property developed and will lead all commercialisation efforts. Lion is also
currently reviewing several additional and complementary opportunities focused on
developing next -generation battery technology using platinum and palladium. Thanks to
considerably higher energy density, Lithium Oxygen and Lithium Sulfur batteries can perform
better, by orders of magnitude, than the best-in-class Lithium-ion batteries currently on the
market or under development. This new generation of lightweight, powerful batteries has the
potential to grow to scale on the back of the attractiveness of battery electric vehicles (BEVs)
and the use of lithium batteries in other applications beyond mobility.
Benny Oeyen, Executive Head of Market Development at Anglo American Platinum,
commented: “This exciting early-stage technology aligns with our broader stra tegy to bring
new technologies to market that will help us secure future demand for the platinum group
metals we mine and pave the way to a more sustainable energy future. Our commitment to
market development is underscored by our relationship with AP Ventures, of which we are a
cornerstone investor and who is a potential investor in this technology as it matures.”
R. Michael Jones, CEO of Platinum Group Metals Ltd, commented: “Developing new
applications for platinum group metals is key to ensuring long -term sustainable demand,
demand which will be important to the future success of our large-scale Waterberg palladium
and platinum mining project in South Africa.”
PLATINUM GROUP METALS LTD. …2
About Platinum Group Metals Ltd.
Platinum Group Metals Ltd. is the operator of the Waterberg P roject, a bulk underground
palladium and platinum deposit located in South Africa. Platinum Group is listed on the NYSE
American Exchange (PLG:NYSE.A) and the Toronto Stock Exchange (PTM:TSX). Waterberg
was discovered by Platinum Group and is being jointly developed with Implats, the Japan Oil
Gas and Metals National Corporation (JOGMEC) and Hanwa Co. Ltd. Waterberg has the
potential to be a large-scale, low-cost producer of palladium, platinum, rhodium and gold.
About Anglo American Platinum Limited
Anglo American Platinum Limited is a member of the Anglo American plc Group and is the
world’s leading primary producer of platinum group metals. The company is listed on the
Johannesburg Securities Exchange (JSE). Its mini ng, smelting and refining operations are
based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in
Zimbabwe. Anglo American Platinum has a number of joint ventures with several historically
disadvantaged South African consortia as part of its commitment to the transformation of the
mining industry. Anglo American Platinum is committed to the highest standards of safety
and continues to make meaningful and sustainable difference in the development of the
communities around its operations.
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
www.platinumgroupmetals.net
Disclosure
The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept
responsibility for t he accuracy or adequacy of this news release, which has been prepared by
management.
This press release contains forward-looking information within the meaning of Canadian securities
laws and forward -looking statements within the meaning of U.S. securitie s laws (collectively
“forward-looking statements”). Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are
those, which, by their nature, refer t o future events. All statements that are not statements of
historical fact are forward-looking statements. Although the Company believes the forward-looking
statements in this press release are reasonable, it can give no assurance that the expectations
and assumptions in such statements will prove to be correct. The Company cautions investors that
any forward -looking statements by the Company are not guarantees of future results or
performance and that actual results may differ materially from those in forw ard-looking
statements. Any forward-looking statement speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward - looking statement, whet her as a result of new information,
future events or results or otherwise.