Platinum Group Metals Ltd. Reports Notice of Planned Motion for Interdict

838 – 1100 Melville Street

Vancouver, BC V6E 4A6

P: 604-899-5450

F: 604-484-4710

News Release No. 21-440

August 2, 2021

Platinum Group Metals Ltd. Reports

Notice of Planned Motion for Interdict

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

(“Platinum Group” or the “ Company”) reports the receipt of notice that the Mining and

Environmental Justice Community Network of South Africa, claiming to be a community

networking body, together with a group of residents from certain communities located near

planned surface infrastructure associated with the Waterberg Mine (the “Applicants”), intend

to apply for an order (the “Application for Motion”) in the High Court of South Africa (the

“High Court”) restraining Waterberg JV Resources (Pty) Limited (“Waterberg JV Co.”) from

carrying on mining related activities on portions of the farms Goedetrouw and Ketting pending

the finalization of the Appeals and the Review (as defined below) and the grant of various

regulatory authorizations.

A mining right for the Waterberg Project was granted by the South African Department of

Mineral Resources and Ener gy (“DMRE”) on January 28, 2021 and was notarially executed

on April 13, 2021 (the “Waterberg Mining Right”). After the grant of the mining right the

Company received notice of and reported several appeals by objecting groups to the decision

by the DMRE g ranting the Waterberg Mining Right (the “Appeals”). The Company also

received notice of an application for an order in the High Court to review and set aside the

decision by the Minister of Environment, Forestry and Fisheries to dismiss an application for

condonation for the late filing of an appeal against the environmental authorization granted

for the Waterberg Mine on November 10, 2020 (the “Review”).

The Company believes that all requirements specified under the MPRDA have been complied

with and that the DMRE correctly granted the mining right and environmental authorization.

Counsel acting for Waterberg JV Co. has filed formal rebuttals to each Appeal reported above,

is opposing the Review , and will file answering papers to the Application for Motion . The

Waterberg Mining Right currently remains in good standing.

The Company’s near-term objectives are to continue working closely with established local

community leadership to maximize the value of the Waterberg Project for all stakeholders and

to complete construction funding and concentrate offtake arrangements for the Water berg

Project.

About Platinum Group Metals Ltd. and Waterberg Project

Platinum Group Metals Ltd. is the operator of the Waterberg Project, a bulk underground

palladium and platinum deposit located in South Africa. The Waterberg Project was

discovered by Platinum Group and is being jointly developed with Impala Platinum Holdings

Ltd., Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”), Japan Oil, Gas and Metals National

Corporation and Hanwa Co. Ltd.

PLATINUM GROUP METALS LTD. …2

On behalf of the Board of

Platinum Group Metals Ltd.

Frank R. Hallam

Interim CEO and Director

For further information contact:

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, 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 forw ard-looking statements. Forward-looking statements in

this press release include, but are not limited to, future developments relating to the Appeals, the

Review and the Application for Motion , the Company’s objectives, and the development of the

Waterberg Project. 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.