Platinum Group Metals Ltd. Reports Further Appeal
838 – 1100 Melville Street
Vancouver, BC V6E 4A6
P: 604-899-5450
F: 604-484-4710
News Release No. 21-434
April 14, 2021
Platinum Group Metals Ltd. Reports Further Appeal
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM-TSX; PLG-NYSE American)
(“Platinum Group” or the “Company”) reports that a further notice to appeal the decision
granting Waterberg JV Resources (Pty) Ltd. a mining right was received by the Company on
April 14, 2021. The notice is reported to be filed by a local community in the area of the
proposed mine infrastructure. The Department of Mineral Resources and Energy ( “DMRE”)
granted the mining right on January 28, 2021. The Company believes that all requirements
specified under the Mineral and Petroleum Resources Development Act (“MPRDA”) have been
complied with and that Minister Gwede Mantashe’s office correctly issued the notice of the
granting of the mining right. Waterberg JV Resources (Pty) Ltd is accordingly opposing the
appeal. According to the MPRDA, an appeal can be considered by the Minister for
determination within a 130-business day timeframe. The mining right currently remains
active and was notarially executed by the DMRE on April 13, 2021.
Platinum Group has completed well-documented, extensive and meaningful consultations with
recognized representatives in local communities, the DMRE and government. The consultation
includes the group claiming an appeal. The Waterberg Project is proj ected to be a large
palladium, platinum, rhodium and gold mine and the Company anticipates that its
development will result in significant positive spin-offs in terms of investments, exports, jobs
and skills development.
The Company intends to continue our consultation with the DMRE and recognized local
authorities and community representatives on our plans for the Waterberg site.
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 being jointly a dvanced 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”).
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.
R. Michael Jones
President and CEO
PLATINUM GROUP METALS LTD. …2
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.
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 contains forward-looking information within the meaning of Canadian securities
laws and forward -looking stateme nts within the meaning of U.S. securities laws (collectively
“forward-looking statements”), including statements regarding the appeal of the mining right; the
applicable procedures, timeline and potential results of such appeal; the development of the
Waterberg project and the potential benefits and results thereof; the Company’s intentions for
future consultations; the potential use of palladium and platinum in lithium battery applications;
and the Company’s other future plans and expectations. 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, including possible adverse
impacts due the global outbreak of COVID -19 (as described above), the Company’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 PTM RSA, and PTM
RSA has pledged its shares of Waterberg JV Co. 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 properties may not be broug ht 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 d evelopment 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 Dollar; 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
PLATINUM GROUP METALS LTD. …3
fund their pro rata share of funding obligations for the Waterberg Pro ject; 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,
including the appeal of the mining right ; an adverse decision on the appeal on the Mining Right
could delay or prevent the Company from having the mining right reinstated and developing the
Waterberg Project; 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 mineral properties; environmental regulations and the ability to obtain and
maintain ne cessary 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 w ith 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 f rom the NYSE American or the Toronto Stock Exchange if it
cannot maintain compliance with the applicable listing requirements ; and the other 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.