Platinum Group Metals Reports Significant Reserve Growth and Cost Improvements in Updated Waterberg Project Study

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) has released an updated Definitive Feasibility Study for its Waterberg Project, demonstrating substantial improvements in both reserve estimates and economic metrics. The study, prepared by leading engineering firms Stantec and DRA with project management oversight from South Africa-based Fraser McGill, represents a comprehensive update to the original 2019 Waterberg DFS.

The updated study reveals a 20% increase in proven and probable mineral reserves, bringing the total to 23.41 million ounces of combined platinum, palladium, rhodium and gold across a projected 54-year mine life. This significant reserve expansion underscores the project's long-term viability and potential contribution to global platinum group metals supply. The enhanced reserve base positions Waterberg as one of the world's substantial undeveloped platinum group metals deposits.

Beyond reserve growth, the updated DFS incorporates technical enhancements that have resulted in lower both capital and operating costs. These improvements streamline the construction and ramp-up schedule, potentially making the project more attractive to investors and partners. The cost efficiencies could translate into better financial returns and reduced execution risk during the development phase.

The Waterberg Project, located in South Africa, represents a bulk underground palladium and platinum deposit discovered by Platinum Group Metals. The project is being jointly developed with Implats, Mnombo and HJM, combining expertise and resources from multiple industry participants. For additional information about the company and its operations, visit https://www.PlatinumGroupMetals.net.

The updated feasibility study's findings have significant implications for the platinum group metals industry, particularly given the growing demand for these metals in automotive catalysts, hydrogen fuel cells, and various industrial applications. The substantial reserve increase and improved economics could position Waterberg as a key future supplier in a market where new high-quality deposits are increasingly rare.

Investors and industry observers can access the latest news and updates relating to PLG through the company's newsroom at https://ibn.fm/PLG. The improved project economics and expanded resource base demonstrated in this updated study may influence investment decisions and strategic planning within the platinum mining sector, potentially affecting global supply dynamics for these critical metals.