Mr. Frank Hallam reports

PLATINUM GROUP METALS LTD. FILES WATERBERG INDEPENDENT DEFINITIVE FEASIBILITY STUDY UPDATE TECHNICAL REPORT

Further to the news release dated Sept. 16, 2024, announcing an independent definitive feasibility study on Platinum Group Metals Ltd.'s Waterberg project located in the Bushveld igneous complex, South Africa, Platinum Group has filed the associated technical report in compliance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

The DFS technical report, entitled "Waterberg Definitive Feasibility Study Update, Bushveld Igneous Complex, Republic of South Africa," is dated Oct. 9, 2024, with an effective date of Aug. 31, 2024, and was prepared by Michael Murphy, PEng, of Stantec Consulting International Ltd., Charles Muller, BSc (honours) geology, PriSciNat of Protek Consulting Pty. Ltd., and Gordon Cunningham, BEng (chemical), PrEng, FSAIMM of Turnberry Projects Pty. Ltd., each being a qualified person within the meaning of NI 43-101 and Subpart 1300 and Item 601 of the U.S. Securities and Exchange Commission's Regulation S-K. The team of specialists included international engineering firm Stantec and South African engineering firm DRA Projects SA Pty. Ltd. Engineering oversight and project management were provided by South African engineering firm Fraser McGill Pty. Ltd. The DFS technical report also supports the disclosure of an updated independent mineral resource estimate, effective Aug. 31, 2024.

A copy of the DFS technical report can be found at SEDAR+ and on the company's website.

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