Platinum Group Metals Ltd. Subsidiary Lion Battery Technologies Granted Second US Patent New Provisional Patent Filed for PGMs in Lithium Batteries
838 – 1100 Melville Street
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News Release No. 21-428
January 19, 2021
Platinum Group Metals Ltd. Subsidiary Lion Battery Technologies
Granted Second US Patent
New Provisional Patent Filed for PGMs in Lithium Batteries
(Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American)
(“Platinum Group” “PTM” or the “Company”) and subsidiary Lion Battery Technologies Inc.
(“Lion”) reports that the U.S. Patent and Trademark Office has issued a second patent to
Florida International University (“FIU”) related to platinum group metals (“PGMs”) being used
in lithium batteries. Under a sponsored research agreement (“SRA”), Lion has exclusive rights
to all technology being developed by FIU with Lion funding, including granted patents.
The new patent, the second one granted to FIU relating to Lion’s research , was issued on
December 8, 2020 entitled "Battery Cathodes for Improved Stability" with patent number US
10,862,103 B2. The patent covers a preparation method using PGM catalysts in carbon
materials for use as cathodes in lithium batteries , including lithium-ion, lithium -air, and
lithium-sulfur batteries. The new patent broadens protection for US patent 10,734,636 B2
issued to FIU on August 4, 2020 cover ing the composition of carbon cathodes containing
PGMs. Both patents are assigned to FIU and licensed by Lion.
In addition to th e above new patent, a further provisional patent application has also been
filed for specific application of PGMs in most lithium batteries, including current lithium ion
chemistries.
As a result of the advancement in PGM battery research work conducted by FIU and Lion, the
Company and Anglo American Platinum Limited , Lion’s co -founder, have each approved
additional investment in Lion. After this further investment, the Company will own a 53.7%
interest in Lion.
Dr. Bilal El Zahab , the project leader at FIU commented, “ We are pleased to receive the
second, broader method patent for our research work and we are excited about our new
innovations having potential application to most current, state of the art lithium ion battery
chemistry on the market.”
R. Michael Jones CEO of Platinum Group said , “PGMs have many applications in green
technologies, including clean emissions equipment for internal combustion engines, hydrogen
fuel cell applications for power generation in cars and trucks, and now the potential to improve
the performance of battery electric vehicles. It makes sense that PGMs can play an important
role in innovative energy technology as we seek more efficient energy reactions. This is what
the PGMs palladium, platinum and rhodium do – they are powerful catalysts that accelerate
chemical reactions. The potential of PGMs in batteries is obvious; it stares at us from the
periodic table.“
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Lion is a private company formed jointly in 2019 by Anglo American Platinum and the
Company to accelerate the development of next -generation battery technology using
platinum and palladium. Under the SRA, research and patent applications are being funded
in battery innovations utilizing platinum and palladium to unlock the potential of higher power
to weight ratios in new generation lithium air and lithium sulfur battery chemistries . This
work may now potentially have application to most commercial lithium batteries. Dr. Bilal El-
Zahab, with prior battery research and development experience and p ost-doctoral work
completed at the Massachusetts Institute of Technology, is the head of the Lion battery
research team.
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, bulk underground palladium, platinum and gold deposit located
in South Africa. The Waterberg Project was discovered by PTM and is being jointly developed
with Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gas and Metals National
Corporation, Mnombo Wethu Consultants (Pty) Ltd. and Hanwa Co. Ltd.
Platinum Group Metals is invest ing in energy efficiency innovation where PGMs can play an
important role. As the majority owner of the Waterberg Project, t he Company views the
innovative use of PGMs in new technology as an opportunity.
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 Exchan ge 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 Comp any’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 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 research innovations having potential
application to most current, state of the art lithium ion battery chemistry on the ma rket, the
potential of PGMs in batteries to improve the performance of battery electric vehicles, the
development of the Waterberg Project, the market for PGMs, Lion securing future patent rights
and the acceleration of developments of next generation batt ery technology . Although the
PLATINUM GROUP METALS LTD. …3
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 t hat 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 fin ancing
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 d efault 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 brought into a state of commercial prod uction;
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, be tween 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
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 a nd 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 necessary 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 t o 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 Company’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
changes in the mineral law in South Africa if implemented as proposed would h ave 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 as 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 technical information referred to or included herein have
been prepared in accordance with NI 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
PLATINUM GROUP METALS LTD. …4
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. In addition, the terms “mineral resource”, “measured
mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and
required to be disclosed by NI 43 -101; however, these terms are not defined terms under SEC
Industry Guide 7 and historically have not been permitted to be used in reports and registration
statements filed with the SEC pursuant to SEC Industry Guide 7. Mine ral resources that are not
mineral reserves do not have demonstrated economic viability. Investors are cautioned not to
assume that any part or all of the mineral deposits in these categories will ever be converted into
reserves. In particular, “inferred mineral resources” have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed
that all or any part of an “inferred mineral resource” will ever be upgraded to a higher categ ory.
Disclosure of “contained ounces” in a resource is permitted disclosure under NI 43-101; however,
SEC Industry Guide 7 normally only permits issuers to report mineralization that does not
constitute “reserves” by SEC Industry Guide 7 standards as in -place tonnage and grade without
reference to unit measures. Accordingly, descriptions of the Company’s mineral deposits in this
press release may not be comparable to similar information made public by U.S. companies
subject to the reporting and disclosure requirements of SEC Industry Guide 7.