Platinum Group Metals WBJV Project 1 Platinum Mine Signs Life of Mine Concentrate Off-take Agreement with Anglo American

Platinum Group Metals WBJV Project 1 Platinum Mine Signs Life of Mine 
Concentrate Off-take Agreement with Anglo American Platinum 
VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA --
(Marketwired) -- 04/24/13 -- Platinum Group Metals Ltd.
(TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") announces
that its 74% owned operating company, Maseve Investments 11 Pty Ltd
("Maseve"), has executed a binding life of mine concentrate off-take
agreement for the WBJV Project 1 Platinum Mine ("Project 1"), with
Rustenburg Platinum Mines ("RPM"), a wholly owned operating
subsidiary of Anglo American Platinum Limited ("Amplats").  
R. Michael Jones, P.Eng, President and CEO of Platinum Group Metals
said, "We are pleased to continue our long term positive relationship
with Amplats, the largest producer of platinum in the world. This is
an important material contract for Project 1. It is fitting that we
have concluded this contract as we start our surface stockpile of
Merensky ore for our mill and concentrator planned for start-up at
the end of 2014." 
The Off-Take Agreement ("Agreement") will commence on the initial
delivery of concentrate from Project 1 and covers Merensky and UG-2
ores. It is planned that the concentrate will be delivered to the
smelter nearby, about 40 kilometers to the southeast, in the city of
Rustenburg. Maseve shall sell all of its concentrate to RPM for the
life of mine and RPM shall be required to purchase and take delivery
of all concentrate in accordance with the Agreement. The Agreement
provides, as is customary, for a certain stipulated quality of
concentrate to be maintained and for concentrate to be delivered to
other locations in the case of smelter maintenance. 
The Agreement follows a competitive tender process for the off-take
and the exercise of a first right of refusal by RPM.  
The Agreement provides for a standard discount to metal pay-ability
and customary penalties for unwanted elements. The exact terms of the
Agreement are confidential however the terms are not materially
different than the terms considered in the 2009 Updated Feasibility
Study and the overall sensitivities considered therein. (Technical
Report Filed November 25, 2009 www.sedar.com)  
At Project 1 development of two twin sets of declines
 to access the
Merensky Reef initially and the construction of mine facilities are
continuing.  
About Platinum Group Metals Ltd. 
Platinum Group is building the WBJV Project 1 Platinum Mine in the
Western Limb of the Bushveld Complex, South Africa. The Company owns
74% of the WBJV Project 1 Mine and 26% is owned by Africa Wide
Prospecting and Exploration (Pty) Limited, a wholly owned subsidiary
of Wesizwe Platinum Ltd. Platinum Group is also currently drilling
with 15 machines at the Waterberg Project in partnership with JOGMEC,
a Japanese state company and a private empowerment company. Platinum
Group is listed as PLG on the NYSE MKT and PTM on the TSX in Toronto. 
On behalf of the Board of Platinum Group Metals Ltd.  
R. Michael Jones 
This press release contains forward-looking information within the
meaning of Canadian securities laws and forward-looking statements
within the meaning of U.S. securities laws ("forward-looking
statements"). Forward-looking statements are typically identified by
words such as: believe, expect, anticipate, intend, estimate, plans,
postulate and similar expressions, or are those, which, by their
nature, refer to future events. All statements that are not
statements of historical fact are forward-looking statements.
Forward-looking statements in this press release include, without
limitation, statements regarding the Company's plans to move into
full scale development in the months ahead, the timing of any
debt/financing for Project 1, the completion of account structuring
the timing of first ore production and concentrate sales, and further
exploration on the Company's properties. In addition, the results of
the UFS may constitute forward-looking statements to the extent that
they reflect estimates of mineralization, capital and operating
expenses, metal prices and other factors. Although the Company
believes the forward-looking statements in this press release are
reasonable, it can give no assurance that the expectations and
assumptions in such statements will prove to be correct. The Company
cautions investors that any forward-looking statements by the Company
are not guarantees of future results or performance, and that actual
results may differ materially from those in forward looking
statements as a result of various factors, including, but not limited
to, variations in market conditions; the nature, quality and quantity
of any mineral deposits that may be located; the Company's ability to
obtain any necessary permits, consents or authorizations required for
its activities; the Company's ability to successfully complete
hedging; the Company's ability to produce minerals from its
properties successfully or profitably, to continue its projected
growth, or to be fully able to implement its business strategies and
other risk factors described in the Company's Form 40-F annual
report, annual information form and other filings with the SEC and
Canadian securities regulators, which may be viewed at www.sec.gov
and www.sedar.com, respectively.  
The Toronto Stock Exchange and the NYSE MKT have not reviewed and do
not accept responsibility for the accuracy or adequacy of this news
release, which has been prepared by management. 
Contacts:
Platinum Group Metals Ltd., Vancouver
R. Michael Jones
President
(604) 899-5450 / Toll Free: (866) 899-5450 
Platinum Group Metals Ltd., Vancouver
Kris Begic
VP, Corporate Development
(604) 899-5450 / Toll Free: (866) 899-5450
(604) 484-4710 (FAX)
www.platinumgroupmetals.net
 
 
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