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

Shareholder Meetings

838 – 1100 Melville Street

Vancouver, BC V6E 4A6

P: 604-899-5450

F: 604-484-4710

News Release No. 21-431

February 18, 2021

Platinum Group Metals Announces Positive Results of

Annual General Meeting of Shareholders

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

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

General Meeting held on February 18, 2021 in Vancouver, BC.

The meeting had a turnout of shareholders representing 62.30% of its issued shares eligible

to vote at the meeting. Shareholders strongly supported the appointment of the Board and

the resolutions proposed.

The number of directors is fixed at six and on a show of hands the Shareholders elected

management’s six nominees for directors. Details of the proxy voting are as follows:

DIRECTOR

NUMBER

OF SHARES

PERCENTAGE

OF VOTES CAST

FOR FOR WITHHELD

R Michael Jones 39,006,439 99.64% 0.36%

Frank Hallam 38,252,553 97.72% 2.28%

Diana Walters 39,016,071 99.67% 0.33%

Timothy Marlow 38,200,364 97.58% 2.42%

John Copelyn 38,283,454 97.80% 2.20%

Stuart Harshaw 38,004,279 97.08% 2.92%

The re -appointment of PricewaterhouseCoopers LLP as auditors of the Company for the

ensuing year at a remuneration to be fixed by the directors was voted in favour by 99.24%

of the Shareholders.

For more information on these matters, 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. and Waterberg Project

Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a

bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. The

Waterberg Project was discovered by Platinum Group and is bei ng jointly advanced with the

shareholders of Waterberg JV Resources (Pty) Ltd. (“Waterberg JV Co.”), being Platinum

Group, Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation, Hanwa

Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”).

PLATINUM GROUP METALS LTD. …2

In 2019, the Company founded Lion Battery Technologies Inc. in partnership with Anglo

American Platinum Limited to support the use of palladium and platinum in lithium battery

applications.

On behalf of the Board of

Platinum Group Metals Ltd.

Frank R. Hallam

CFO, Corporate Secretary 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 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, anticipa te, 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 20 -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.