Platinum Group Metals Ltd. announced that its 82.9% owned WBJV Project 1 Platinum Mine (Maseve) located near Rustenburg, South Africa is approximately 90% complete and is on track for planned production in 2015. The company expects to complete final conditions for the draw-down of the previously announced Sprott working capital facility for USD 40 million in the fall of 2015. Mineral Resources are 3.9 million ounces 4E on the Merensky Reef (21.82 million tonnes grading 5.51 g/t 4E) and 2.8 million ounces on the UG2 Reef (22.68 million tonnes grading 3.8 g/t 4E). These Mineral Resources have been calculated based on a thicker resource cut (146cm versus 109cm) and they incorporate recent detailed drilling and underground work to date. The total Merensky and UG2 Reserves are 4.1 million ounces as detailed below (500,000 ounces 4E less than at the 2009 updated fea sibility study) and in the current mine plan are sufficient for an updated annual production target of 250,000 ounces 4E at steady state.

Production guidance for fiscal 2016 is 116,000 ounces platinum, palladium, rhodium and gold (100% Project basis) and 185,000 ounces 4E in fiscal 2017 in concentrate. Steady State has been estimated to be 250,000 ounces 4E per year.