Platinum Group Metals Ltd. Added to the S&P/TSX SmallCap Index
838 – 1100 Melville Street
Vancouver, BC V6E 4A6
P: 604-899-5450
F: 604-484-4710
News Release No. 20-420
September 30, 2020
Platinum Group Metals Ltd. Added to the S&P/TSX SmallCap
Index
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group”, “PTM” or the “Company”) is pleased to announce that it has been added
to the S&P/TSX SmallCap Index as of September 21, 2020 . The S&P/TSX SmallCap Index
provides an investable index for the Canadian small cap market and was developed with
industry input as the ideal ben chmark for those with small cap exposure to the Canadian
equity market. Platinum Group Metals is listed on the TSX as PTM and on the NYSE.A as PLG.
The Company’s main asset is the controlling interest in the Waterberg palladium deposit in
South Africa (“Waterberg”, or the “Waterberg Project”).
Commenting on the addition, Platinum Group’s President and CEO, R. Michael Jones, stated,
“The key outcome of the 2019 Definitive Feasibility Study for Waterberg is the development
of one of the largest and potentially lowest cash cost underground PGM mines globally and
the deposit is dominated by palladium. We are pleased to be added to the S&P/TSX SmallCap
Index as our business advances. We are excited about the months ahead as we work towards
securing a Mining Right and a development plan with the Waterberg Joint Venture partners.”
About Platinum Group Metals Ltd.
Platinum Group Metals Ltd. is the operator of the Waterberg Project, a 19.5 million ounce
proven and probable reserve 1 (using 2.5 g/t 4E cut -off), bulk underground palladium and
platinum deposit located in South Africa (please refer to the technical report entitled
“Independent Technical Report, Waterberg Project Definitive Feasibility Study and Mineral
Resource Update, Bushveld Complex, South Africa” dated October 4, 2019 and filed on
SEDAR). The Waterberg Project was discovered by Platinum Group and is being jointly
developed with Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation
(JOGMEC), Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”). The
Company also founded Lion Battery Technologies Inc. in partnership with Anglo American
Platinum Limited to support the use of palladium and platinum in lithium battery applications.
1 Proven 48.3 million tonnes at 3.28 g/t 4E and Probable 139.2 million tonnes at 3.22 g/t 4E.
PLATINUM GROUP METALS LTD. …2
R. Michael Jones, P.Eng., the Company’s President and CEO, is a non -independent qualified
person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects
(“NI 43-101”) and he has approved of the scientific and technical information contained in
this news release.
For further information contact:
R. Michael Jones, President and CEO
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 TSX 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.
The recent COVID-19 pandemic and related measures taken by government create uncertainty
and have had, and may continue to have, an adverse impact on many aspects of the Company’s
business, including employee health, workforce productivity and availability, travel restrictions,
contractor availability, supply availability, the Company’s ability to maintain its controls and
procedures regarding financial and disclosure matters and the availability of capital and insurance
and the costs thereof, some of which, individually or when aggregated with other impacts, may
be material to the Company.
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. Forward-looking statements in
this press release include, but are not limited to, statements regarding the results of the Waterberg
Definitive Feasibility Study and the Waterberg Project becoming one of the largest and potentially
lowest cash cost underground PGM mines globally. Estimates of mineral reserves and mineral
resources are also forward -looking statements. Although the Company believes any forward -
looking s tatements 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 possible adverse
impacts due the global outbreak of COVID -19 (as described above), the Compan y’s inability to
generate sufficient cash flow or raise sufficient additional capital to make payment on its
indebtedness, and to comply with the terms of such indebtedness; additional financing
requirements; the US $20 million senior secured facility with the Sprott Private Resource Lending
II (Collector), LP (“Sprott”) entered into August 21, 2019 (the “2019 Sprott Facility”) is, and any
new indebtedness may be, secured and the Company has pledged its shares of P latinum Group
Metals (RSA) Proprietary Limited (“PTM RSA”), and PTM RSA has pledged its shares of Waterberg
JV Resources (Pty) Limited (“Waterberg JV Co.”) and Mnombo Wethu Consultants (Pty) Ltd.
(“Mnombo”) to Sprott under the 2019 Sprott 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
2019 Sprott 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
PLATINUM GROUP METALS LTD. …3
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 in the relative values of the
U.S. Dollar, the Rand and the Canadian Do llar; volatility in metals prices; the uncertainty of
alternative funding sources for Waterberg JV Co.; the Company may become subject to the U.S.
Investment Company Act; 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 disagreements with
the other shareholders of Waterberg JV Co. or Mnombo; 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; 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 other 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 min eral 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 t o obtain, permits necessary for current or future operations or
failures to comply with the terms of such permits; risks of doing 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 Toronto Stock Exchange if it cannot maintain compliance with the applicable
listing requirements; and other risk factors described in the Compa ny’s most recent Form 20 -F
annual report, annual information form and other filings with the U.S Securities and Exchange
Commission (“SEC”) and Canadian securities regulators, which may be viewed at www.sec.gov
and www.sedar.com, respectively. Proposed cha nges 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 forward-looking statement speaks only as of the date on which
it is made and, except a s 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.
Estimates of mineralization and other t echnical information referred to or included herein have
been prepared in accordance with N I 43-101. The definitions of proven and probable reserves
used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide
7 standards, mineralization may not be classified as a “reserve” unless the mineralization can be
economically and legally extracted or produced at the time the “reserve” determination is made.
As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify
as “reserves” under SEC Industry Guide 7.