Mr. Frank Hallam reports

PLATINUM GROUP FILES FINAL BASE SHELF PROSPECTUS

Platinum Group Metals Ltd. has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada and a corresponding registration statement on Form F-10 with the U.S. Securities and Exchange Commission under the multijurisdictional disclosure system established between Canada and the United States.

The shelf prospectus and the registration statement, when made effective, will enable the company to make offerings of up to $250-million (U.S.) of common shares, debt securities, warrants, subscription receipts or a combination thereof of the company from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the shelf prospectus and registration statement remain effective.

Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used to advance the company's business objectives and for general corporate purposes. The company filed the shelf prospectus and the registration statement to replace the Form F-10 registration statement previously filed by the company with the SEC in 2022, which has expired, and to enhance the company's financial flexibility. The company's 2022 at-the-market common share offering terminated upon the expiration of the 2022 registration statement on July 21, 2024. The specific terms of any future offering will be established in a prospectus supplement to the shelf prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities and the SEC.

About Platinum Group Metals Ltd.

Platinum Group is the operator of the Waterberg project, a bulk underground platinum group metal 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. and HJ Platinum Metals Company Ltd.

We seek Safe Harbor.