Platinum Group Metals Announces Positive Results of Annual General Meeting of Shareholders

788 – 550 Burrard Street

Vancouver, BC V6C 2B5

P: 604-899-5450

F: 604-484-4710

News Release No. 17-337

February 24, 2017

Platinum Group Metals Announces Positive Results of

Annual General Meeting of Shareholders

(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM-TSX; PLG-NYSE MKT)

(“Platinum Group” or the “Company”) is pleased to announce the positive results from

its Annual General Meeting held on February 23, 2017 in Vancouver, BC.

The meeting had an impressive turnout of shareholders representing o ver 75% of its

issued shares eligible to vote at the meeting. The shareholders strongly supported the

appointment of the Board and the resolutions proposed.

R. Michael Jones, President, CEO and co-founder of Platinum Group Metals said “We are

as always pleased to see the vast majority of shareholders actively and supportively

engaged, following our progress and voting their stock. We look forward to a pivotal

year in 2017 with the ramp up of production to positive cash flow at the Maseve Mine

and the continued advancement on the Waterberg Project.”

The number of directors is fixed at seven and on a show of hands the shareholders at

the meeting elected management’s seven nominees for directors. Details of the proxy

voting are as follows:

MOTIONS

NUMBER OF

SHARES

PERCENTAGE OF

VOTES CAST

FOR FOR

WITHHELD/

ABSTAIN

R. MICHAEL JONES 72,733,681 99.13% 0.87%

FRANK R HALLAM 72,547,538 98.88% 1.12%

ERIC H CARLSON 71,414,768 97.34% 2.66%

BARRY W SMEE 71,648,829 97.65% 2.35%

IAIN D C MCLEAN 71,611,045 97.60% 2.40%

TIMOTHY D MARLOW 72,883,710 99.34% 0.66%

DIANA J WALTERS 72,849,685 99.29% 0.71%

The Board of Directors is unchanged from the previous year.

Shareholders voted 79.87% in favour of a new Share Compensation Plan. The plan was

closely modelled on another approved plan for a major mining company. The Company

engaged with its major shareholders directly regarding the Share Compensation Plan and

the positive vote is contrary to a rating agency negative recommendation. The Company

elected not to pay approximately $30,000 in fees requested by the rating agency to

review the plan in advance of publication. Shareholders also voted 98.56% in favour of

PLATINUM GROUP METALS LTD. …2

re-appointing PricewaterhouseCoopers LLP as auditors, and to authorize the Directors to

fix the auditor’s remuneration for the ensuing year.

At a meeting of the Board of Directors following the shareholders meeting , the current

officers were ratified for the following year except for Mr. Peter Busse. As previously

planned and disclosed, the Company confirms the retirement of Mr. Peter Busse as Chief

Operating Officer (“COO”) of the Company.

Mr. Busse joined Platinum Group Metals in 2007 and has served as the Company’s COO

since that time. The Board and management team thanks Mr. Busse for his dedicated

service and stalwart efforts to successfully and safely construct the Maseve Mine.

The functions and appointments that were formerly the responsibility of the COO will be

assumed by the Company’ s senior management team in South Africa. Mr. Leon Lewis,

the former Safety Officer at the Maseve Mine , has been appointed as General Manager

and the Company welcomes Gawie De Wet as head of Mine Engineering.

A replacement COO will be appointed in due course.

For more information on these matter s, please refer to Platinum Group’s information

circular, available on SEDAR ( www.sedar.com) or visit our website at

www.platinumgroupmetals.net.

About Platinum Group Metals Ltd.

Platinum Group, based in Johannesburg, South Africa and Vancouver, Canada, has a

successful track record with more than 20 years of experience in exploration, mine

discovery, mine construction and mine operations. The Company holds strategic large

scale reserves in platinum, palladium, rhodium and gold with associated nickel and

copper.

Formed in 2002, Platinum Group holds significant mineral rights in the Bushveld Igneous

Complex of South Africa, which is host to over 70% of the world's primary platinum

production. The Company is currently focused on ramping up the Maseve Mine, its first

near-surface platinum mine, to commercial production.

Platinum Group has delineated new reserves on the North Limb of the Bushveld Complex

on the Waterberg Project. Waterberg represents a new bulk type of large scale, shallow

low cost platinum, palladium and gold deposit.

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

PLATINUM GROUP METALS LTD. …3

Disclosure

The Toronto Stock Exchange and the NYSE MKT LLC have not reviewed and do not accept

responsibility for the accuracy or adequacy of this news release, which has been prepared

by management.

This press release may contain 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. Although the Company believes any 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. The Company directs readers to the

risk factors described in the Company’s Form 40 -F annual report, annual information

form and other filings with the Securities and Exchange Commission and Canadian

securities regulators, which may be viewed at www.sec.gov and www.sedar.com,

respectively.