Hosken Consolidated Investments Limited Increases Position in Platinum Group Metals Ltd. to 19.89%

838 – 1100 Melville Street

Vancouver, BC V6E 4A6

P: 604-899-5450

F: 604-484-4710

News Release No. 19-389

February 11, 2019

Hosken Consolidated Investments Limited Increases Position in

Platinum Group Metals Ltd. to 19.89%

(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)

(“Platinum Group” “PTM” or the “Company”) reports that Hosken Consolidated Investments

Limited ("HCI") announced on February 4, 2019 it had acquired, on a private placement

basis through its subsidiary Deepkloof Limited, 2,141 ,942 common shares of Platinum

Group Metals Ltd. ("PTM") at a price of US$1.33 per share for total consideration of

US$2,848,783.

Immediately before the acquisition, HCI held 4,383,447 common shares of PTM,

representing 14.77% of PTM's issued and outstandi ng common shares, and 3,999,999

common share purchase warrants. This acquisition brings HCI's total holdings in the

common shares of PTM to 6,525,389, or 19.89%.

R. Michael Jones, CEO of Platinum Group said, “ HCI’s investment has been important in

advancing the Waterberg palladium project. We are working closely with our joint venture

partners Implats, JOGMEC, Hanwa and Mnombo on the completion of the Waterberg

Definitive Feasibility Study later this year.”

HCI is a South African black empowerment investment holding company with a US$750

million market capitalization, listed on the JSE Securities Exchange. It is incorporated under

the laws of South Africa and its head office is located in Cape Town. HCI’s major

shareholder is the South African Cloth ing 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 and properties.

The PTM securities were purchased and are presently being held by HCI for investment

purposes. In the future, HCI or its affiliates may acquire additional securities of PTM or

dispose of such securities subject to a number of factors, including general market and

economic conditions and other investment and business opportunities available.

About Platinum Group Metals Ltd.

Platinum Group is focused on, and is the operator of , the Waterberg Project, a bulk

mineable underground palladium deposit in northern South Africa. Waterberg was

discovered by the Company. Waterberg has potential to be a low cost dominantly palladium

mine and Implats, a smelter and refiner of platinum group metals, recently made a strategic

investment in the Waterberg Project.

PLATINUM GROUP METALS LTD. …2

On behalf of the Board of

Platinum Group Metals Ltd.

“R. Michael Jones”

President and CEO

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 the accuracy or adequacy of this news releas e, 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. securities 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 to future events. All statements that are

not statements of historical fact are forward-looking statements. Forward-looking statements in

this press release include, without limitation, statements regarding the size, participation in,

receipt of regulatory approvals for, and the completion and amou nt and use of proceeds of the

Private Placement. 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 forward -looking statements as a result of various

factors, including the Company’s inability to obtain subscriptions for and complete the Private

Placement on the terms disclosed above, or at all, to obtain required regulatory approvals for

the Private Placement, and to maintain and extend the waivers of Lib erty Metals & Mining

Holdings, LLC (“LMM”), a subsidiary of Liberty Mutual Insurance, under the Company’s credit

facility (the “ LMM Facility ”) necessary to permit the use of proceeds contemplated above;

additional financing requirements; the LMM Facility with LMM is, and any new indebtedness may

be, secured and the Company has pledged its shares of Platinum Group Metals (RSA) Proprietary

Limited (“ PTM RSA ”), and PTM RSA has pledged its shares of Waterberg JV Resources (Pty)

Limited (“Waterberg JV Co. ”) to LMM, under the LMM Facility, which potentially could result in

the loss of the Company’s interest in PTM RSA and the Waterberg Project in the event of a

default under the LMM Facility or any new secured indebtedness; the Company’s history of

losses and negative cash flow; the Company’s ability to continue as a going concern; the

Company’s properties may not be brought into a state of commercial production ; uncertainty of

estimated production, development plans and cost estimates for the Waterberg Project;

discrepancies between actual and estimated mineral reserves and mineral resources, between

actual and estimated development and operating costs, between actual and estimated

metallurgical recoveries and between estimated and actual production; fluctuations i n the

relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices;

the failure of the Company or the other shareholders to fund their pro rata share of funding

obligations for the Waterberg Project; any disputes or di sagreements with the other

PLATINUM GROUP METALS LTD. …3

shareholders of Waterberg JV Co., Mnombo Wethu Consultants (Pty) Ltd. or Maseve; completion

of a DFS for the Waterberg Project is subject to economic analysis requirements; the ability of

the Company to retain its key management employees and skilled and experienced personnel;

conflicts of interest; litigation or other administrative proceedings brought against the Company;

actual or alleged breaches of governance processes or instances of fraud, bribery or corruption;

the Company may become subject to the U.S. Investment Company Act; exploration,

development and mining risks and the inherently dangerous nature of the mining industry, and

the risk of inadequate insurance or inability to obtain insurance to cover these risks and oth er

risks and uncertainties; property and mineral title risks including defective title to mineral claims

or property; changes in national and local government legislation, taxation, controls, regulations

and political or economic developments in Canada and South Africa; equipment shortages and

the ability of the Company to acquire necessary access rights and infrastructure for its mineral

properties; environmental regulations and the ability to obtain and maintain necessary permits,

including environmental authorizations and water use licences; extreme competition in the

mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for

current or future operations or failures to comply with the terms of such permits; risks of d oing

business in South Africa, including but not limited to, labour, economic and political instability

and potential changes to and failures to comply with legislation; the Company’s common shares

may be delisted from the NYSE American or the TSX if it ca nnot maintain or regain compliance

with the applicable listing requirements; and other risk factors described in the Company’s most

recent Form 20 -F annual report, Annual Information Form and other filings with the SEC and

Canadian securities regulators, w hich may be viewed at www.sec.gov and www.sedar.com,

respectively. Proposed changes in the mineral law in South Africa if implemented as proposed

would have a material adverse effect on the Company’s business and potential interest in

projects. Any forwar d-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, whether as a result of new information ,

future events or results or otherwise.