Platinum Group Metals Announces an 800 Meter Step Out on the T2 Platinum Layer Intersecting 25.5 Meters Grading 6.4 g/t

Platinum Group Metals Announces an 800 Meter Step Out on the T2 Platinum Layer 
Intersecting 25.5 Meters Grading 6.4 g/t Platinum,
Palladium and Gold 
VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA --
(Marketwired) -- 06/10/13 -- Platinum Group Metals Ltd. (TSX:PTM)
(NYSE MKT:PLG) ("Platinum Group" or the "Company") announces that
Hole WB-99 has intersected 25.5 meters of the T2 layer grading 6.4
grams per tonne 3E (1.86 g/t Platinum, 3.20 g/t Palladium and 1.37
g/t Gold, 0.34% copper, 0.17% nickel) over a core length of 25.5
metres at a depth of 681.0 metres to 706.5 metres. Included is a
higher grade intercept of 2.5 metres of 12.2 g/t 3E at 698.5 metres
to 701.0 metres. This intercept is located 800 meters northeast along
strike from the previous intercepts and 300 meters northeast of the
blocks in the current T2 layer resources. The assays from WB-99
display the distinctive T layer metal ratios of approximately 29%
Platinum, 50% Palladium and 21% Gold. WB-99 is within the JOGMEC
joint venture, where the Company holds a 49.9% effective interest. 
R. Michael Jones, P.Eng, CEO of Platinum Group Metals said, "This
intercept is important because it's high grade, thick, relatively
near surface, open up dip, is an 800 meter step out from the most
north eastern intercept and it increases the potential of the best
grade, best metallurgical recovery layer in the Waterberg deposit.
The intercept is in position, at the predicted depth, with the
signature 20% gold ratio in the precious metals basket, further
confirming it to be T2". 
Drilling is continuing with a further 1.7 kilometre northward step
out from WB-99, again targeting the T mineralized layers. The WB-99
intercept is estimated to have a true thickness of 20.1 metres and
the deposit model is open on strike, up-dip and down-dip. The T1
layer was also intersected in WB-99, adding to the confirmation of
deposit continuity. 
Prior to hole WB-99 drilling has focused on fill-in drilling on the F
layers, at 250 metre spacing, up-dip from the current area of
declared F layer mineral resource. An updated table of intercepts
from this work is expected shortly. An update to the overall
resources at Waterberg including the T and F layers is on track for
August 2013. Drill spacing has been selected to allow for potential
resource additions on both T and F layers.  
The 10.1 million ounce platinum, palladium and gold Waterberg deposit
consisting T1, T2, FP and FH layers was initially discovered by the
Company and joint venture partners including JOGMEC of Japan. The
resource has expanded significantly during 2012. (Current Inferred
Resource 93Mt 3.39 g/t 2PGE+Au, 1.03 g/t Pt, 2.02 g/t Pd, 0.34 g/t
Au, March 18, 2013 Technical Report on www.sedar.com, Ken Lomberg
QP).  
A total of 110 holes plus deflections on the mineralized layers have
been completed or are in progress to date at the Waterberg Project.
The success rate in terms of intercepting the targeted mineralized
layers so far is approximately 98%. Metallurgical test work indicates
the best flotation recoveries in the Waterberg deposit is from the T2
layer at 88%. T2 also has the best average grade in the deposit and
the layer is present from about 130 meters below surface.  
Intercept Assay Details: 


 
----------------------------------------------------------------------------
            From     To length    2PGE+    Pt    Pd    Au            Cu   Ni
WB099        (m)    (m)    (m) Au (g/t) (g/t) (g/t) (g/t) Pt:Pd:Au  (%)  (%)
----------------------------------------------------------------------------
T1-Layer  675.50 677.95   2.45     3.08  0.73  1.93  0.41 24:63:13 0.10 0.08
----------------------------------------------------------------------------
T2-Layer  681.00 706.50  25.50     6.44  1.86  3.20  1.37 29:50:21 0.34 0.17
----------------------------------------------------------------------------
including 698.50 701.00   2.50    12.22  3.33  6.35  2.53 27:52:21 0.64 0.32
----------------------------------------------------------------------------

 
Qualified Person, Quality Control and Assurance 
The non-independent qualified person for the intercepts reported in
this release is R. Michael Jones, P. Eng the Company President. He
has more than 20 years of relevant experience and he has verified the
data by ensuring that qualified geologists are involved in collection
and compilation of the data, and that a system of quality control and
chain of custody records are maintained and he has visited the
property several times and reviewed the detailed data. He is
satisfied with the verification of the data.  
Ken Lomberg is the independent qualified person for the resources on
the Waterberg Deposit and he has reviewed the references to resources
in this press release.  
Quality control and assurance was completed in the normal process for
Platinum Group Metals RSA Pty Ltd. Standards, duplicates and blanks
were inserted regularly in every assay batch. These assay results
were checked and any results outside of two standard deviations were
re-assayed. Strict control and documentation on the core from the
drill rig to the site and the assay samples to the lab were
maintained at all times under a chain of custody sign off system. The
platinum group elements were assayed by fire assay using a nickel
sulphide collection method at Setpoint Laboratories, Johannesburg, a
SANAS accredited laboratory. Base metals and other major elements
were determined by multi acid digestion with ICP finish. 
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 11 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 locate;, the Company's ability to
obtain any necessary permits, consents or authorizations required for
its activities; the Company's ability to successfully complete
hedging establishment and off-take negotiations; 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.
R. Michael Jones
President
(604) 899-5450 / Toll Free: (866) 899-5450 
Platinum Group Metals Ltd.
Kris Begic
VP, Corporate Development
(604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net