Name and Location
Waterberg joint venture (JV) platinum project, Limpopo, South Africa.

Client
Platinum Group Metals (PTM) holds a 49.9% effective interest in the Waterberg JV, with the Japan Oil, Gas and Metals National Corporation holding 37% and the balance being owned by a private empowerment company in South Africa.

Project Description
The Waterberg deposit on the JV property covers about 5.5 km of strike length. The shallowest edge of the deposit thus far is on the T layer, about 140 m from surface, with a current inferred resource of 93-million tonnes grading 3.39 g/t platinum, palladium and gold, 1.03 g/t, 2.02 g/t and 0.34 g/t respectively.

Value
Too early to state.

Duration
Too early to state.

Latest Developments
PTM has confirmed an important new platinum deposit at its Waterberg JV discovery, in South Africa’s Bushveld Igneous Complex. Drilling results have returned 52 new platinum intercepts, which have expanded the previous resource estimate of ten-million ounces. PTM is nearing the end of the planned drilling and deposit definition work on the JV property. A total of 111 holes, totalling 129 000 m of core, with about 350 mineralised layer intercepts and 85 000 assay results, are being compiled for a resource update.

Engineering firm WorleyParsonsTWP has been tasked to complete the detailed work for a preliminary economic assessment (PEA) of the Waterberg deposit. The resource update will be used for this work. The PEA is on target for completion by year-end.

Key Contracts and Suppliers
WorleyParsonsTWP (detailed work for PEA).

On Budget and on Time?
Not stated.

Contact Details for Project Information
PTM, tel +27 11 782-2186, fax +27 11 782 4338 or email info@platinumgroupmetals.net
WorleyParsonsTWP, tel +27 11 218 3000 , fax +27 11 218 3100 or email twpinfo@twp.co.za.