WBJV Project 1 Site Visit -...

WBJV Project 1

Site Visit

February 12, 2015

PLG: NYSE MKT PTM: TSX 1

Site Visit Itinerary February 12th (WBJV Site Visit)

8:00 am – Arrive at O.R. Tambo Airport in Johannesburg

8:10 am – Group Congregate at Café Nescafe at Domestic Departures, Terminal B

8:30/9:00 am – Charter Flights from O.R Tambo to Pilanesberg

9:30/10:00 am – Charter Flights Arrive at Pilanesberg

10:15 am – Busses to Sundown Ranch

11:00 am – Lunch and Presentations at Ranch

12:30 pm – Busses from Sundown Ranch to Site

12:45 pm – WBJV Project 1 Site Tour – Underground

2:00 pm – Surface Site Tour

2:45 pm – Busses from Site to Sundown Ranch

3:00 pm – Check in at Sundown Ranch

4:00 pm – Transport to Game Drive

4:20 pm – Pilanesberg Game Drive

6:45 pm – Transport to Game Farm View Point for Dinner

7:15 pm – Dinner (Braai) at Game Farm View Point

Overnight at Sundown Ranch

Disclosure

TECHNICAL AND SCIENTIFIC INFORMATION This presentation has been prepared by Platinum Group Metals Ltd. (“Platinum Group” or the “Company”). Information included in this presentation regarding the Company’s mineral properties has been compiled by R. Michael Jones, P.Eng, the President and Chief Executive Officer of the Company, and a non-independent Qualified Person for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), based on the independent technical reports, and other information filed by the Company with the Canadian securities regulators and the U.S. Securities and Exchange Commission (“SEC”).

For more detailed information regarding the Company and its mineral properties, you should refer to the Company’s independent technical reports and other filings with the Canadian securities regulators and the SEC, which are available at www.sedar.com and www.sec.gov, respectively. Scientific or technical information contained herein is derived from the Company’s technical reports, including the “Updated Technical Report (Updated Feasibility Study Western Bushveld Joint Venture Project 1 (Elandsfontein and Frischgewaagd)” dated November 20, 2009 with an effective date of October 8, 2009 (the “2009 UFS”) prepared by Gordon I. Cunningham, Charles J. Muller, Timothy V. Spindler and Byron Stewart. Reference is made to such reports for more detailed information with respect to the Company’s properties, including details of quality and grade of each resource, details of the key assumptions, methods and parameters used in the resource estimates and the 2009 UFS and a general discussion of the extent to which the resource estimates and the other estimates and projections included in the reports may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. Scientific or technical information contained herein related to the Waterberg Projects is derived from the Company’s technical reports including the “Amended and Restated Technical Report for the Update on Exploration Drilling at the Waterberg Joint Venture and Waterberg Extension Projects, South Africa” dated December 16, 2014 prepared by Ken Lomberg which includes more detailed information.

CAUTIONARY NOTE TO UNITED STATES INVESTORS As a Canadian issuer that is eligible to use the U.S./Canada Multijurisdictional Disclosure System (MJDS), the Company is permitted to prepare its public disclosures and this presentation in accordance with Canadian securities laws, which differ in certain respects from U.S. securities laws. In particular, this presentation uses the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”. While these terms are recognized and required by Canadian securities laws, they are not recognized by the SEC. In addition, “reserves” reported by the Company under Canadian standards may not qualify as reserves under SEC standards. U.S. investors are cautioned not to assume that any part of a “measured mineral resource” or an “indicated mineral resource” will ever be converted into a “reserve.” Under U.S. standards, mineralization may not be classified as a “reserve” unless the mineralization can be economically and legally produced or extracted at the time the reserve determination is made. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. U.S. investors are urged to read the statement in the Offering Circular under the heading “Cautionary Note to United States Investors” for further information. Historical results or feasibility models presented herein are not guarantees or expectations of future performance. Information included in this presentation, the Company’s independent technical reports and the Company’s other public statements related to its mineral properties has been prepared in accordance with securities laws in effect in Canada, which differ from U.S. securities laws. The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms in this presentation, such as “resources,” that the SEC’s guidelines strictly prohibit U.S. public companies from including in their filings with the SEC.

This presentation also contains information about adjacent properties on which the Company has no right to explore or mine. The Company advises you that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Companies properties. This presentation is not an offer to sell, or a solicitation to buy, any securities in any jurisdiction. The Toronto Stock Exchange and the NYSE MKT LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by the Company.


Forward Looking Statements

Certain of the statements made herein, including statements regarding the potential terms, net proceeds and use of proceeds of the offering; the Company’s business

plans and objectives; potential exploration, development and other activities; the achievement, timing and potential ramp-up and scale of production; other economic

and operational projections, estimates and assumptions, including, without limitation, revenues, costs, margin, metal prices, currency exchange rates, peak funding,

cost curves, metal split, mine life, future market conditions and the adequacy of capital; growth potential; planned studies and reports; and the potential for a new Black

Empowerment (“BEE”) partner, constitute “forward looking statements” and “forward looking information” within the meaning of applicable U.S. and Canadian securities

legislation (collectively, “forward looking statements”). In addition, resource estimates and feasibility study results constitute forward-looking statements to the extent

that they represent, respectively, estimates of mineralization that may be encountered upon additional exploration and estimates of the capital and operating expenses,

metals and currency prices and other operating conditions that may be encountered in the future.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual events or results to differ materially from those discussed in

the forward-looking statements, and even if events or results discussed in the forward-looking statements are realized or substantially realized, there can be no

assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from

current expectations include, among other things: the inability of the Company to find an additional and suitable joint venture partner for WBJV Project 1 and Project 3;

failure of the Company or its joint venture partners to fund their respective pro-rata share of funding obligations; additional financing requirements; the Company’s

history of losses and ability to continue as a going concern; the Company’s negative cash flow; no known mineral reserves on most of the Company’s properties; delays

in, or inability to achieve, planned commercial production; discrepancies between actual and estimated mineral reserves and mineral resources, development and

operating costs, metallurgical recoveries and production; fluctuations in the relative values of the Canadian dollar as compared to the South African Rand and the U.S.

dollar; volatility in metal prices; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; any

disputes or disagreements with the Company’s joint venture partners; the costs of increasing BEE requirements in the Company's mining and prospecting operations;

exploration, development and mining risks and the inherently dangerous nature of the mining industry, including environmental hazards, industrial accidents, unusual or

unexpected formations, safety stoppages (whether voluntary or regulatory), pressures, mine collapses, cave-ins or flooding and the risk of inadequate insurance or

inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property;

changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, South Africa or other countries

in which the Company does or may in the future carry out business; equipment shortages and the ability of the Company to acquire the necessary access rights and

infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations;

extreme competition in the mineral exploration industry; risks of doing business in South Africa, including but not limited to labor, economic and political instability and

potential changes to legislation; and the other risks disclosed in the Company’s Annual Information Form for the year ended August 31, 2014, which is available on

SEDAR at www.sedar.com and is included as part of the Company’s Form 40-F annual report filed with the SEC at www.sec.gov. You are advised to review these risk

factors, and not to place undue reliance on forward-looking statements.

The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this

presentation or to reflect the occurrence of unanticipated events except as required by law.


http://www.sedar.com/





http://www.sec.gov/

http://www.sec.gov/

http://www.sec.gov/

http://www.sec.gov/

http://www.sec.gov/

WBJV Project 1: Surface Layout

PLG: NYSE MKT PTM: TSX

WBJV Project 1: Surface Construction – Nov 2014

4

WBJV Project 1: Surface Construction – Nov 2014 WBJV Project 1: Surface Construction – Nov 2014

Maseve Owners Team

Peter Busse COO

Pran Maharaj Project Manager

DRA as EPCM Concentrator &

Surface Infrastructure Build

David Ngubane General Manager

Rowan Ray (Production Manager)

Mining with JIC as main Contractor

Curt von Graevenitz Engineering

Manager

Engineering Support

TMM Maintenance Infrastructure

Leon Lewis SHE Manager

Safety Environmental

Human Resources

Len Backhouse Technical Manager

Mine Planning &

Technical Services

Francois Vermeulen Chief Geologist

Geology


Organogram

Maseve Owners Team

DRA as EPCM

Concentrator Build Surface Infrastructure Build Major Underground Infrastructural Build

JIC Mining as Mining Contractor

All Underground Mining Activities

(Excl. major infrastructural construction)


Safety Statistics


Safety Performance

Performance Area Achievement

Lost Time injury Free Hours Maseve Mine 1 805 632

Lost Time Injury Free Days Maseve Mine 229

Lost Time Injury Free Days North Shaft 325

Lost Time Injury Free Days South Shaft 229

Lost Time Injury Free Days Construction 499


Labour Strength


Information up to December, 2014

Labour Complement

Total Labour Complement 1717

PTM 48

Technical Services & Security 101

Human Capital 15

JIC 852

DRA 701

Primary Union on site is NUM

Currently operating with a 2 year contract

Due care and attention is the focus by site management to maintain good relations

9

Safety

PTMSafe Culture

All underground teams trained and coached in continuous risk assessment

process by the participation of all team members called safeCREWS

Teams are recognised on a monthly basis

Safety day with all employees at Maseve Mine

Empowers each individual worker

Quarterly Safety interventions (PTM Safe day)

Health awareness (HIV, TB)


Current Project Status – December 2014

Description Rand’s Million USD Million

Sunk Phase 1 777 91

Sunk Phase 2 2,766 266

Total Sunk Cost 3,543 357

Average Exchange Rate ZAR 9.93 : USD 1.00

Physical construction completion is at 83% and 73% of budget committed and contracted.

Peak Funding

Description Rand’s Million USD Million Average FX

Total Sunk Cost (Dec 2014) 3,543 357 9.93

Cash to Completion 1,595 145 11.00

Peak Funding Estimate 5,138 502 10.24

Financial Model Inputs

Units Current Guidance Spot

Jan 30, 2015

Metal Prices and Exchange Rates*

Platinum US$/oz 1 500 1 231

Palladium US$/oz 712 781

Rhodium US$/oz 1 202 1 145

Gold US$/oz 1 489 1 268

Copper US$/tonne 7 479 5 390

Nickel US$/tonne 16 705 14 705

Rand/US$ ZAR:USD 11.00 11.54

* Current guidance metal pricing is based on 3 year trailing prices to 30 Sept 2014.

4E Basket Price - Merensky US$/oz $ 1 275 $ 1 108

4E Basket Price - UG2 US$/oz $ 1 265 $ 1 106

4E Basket Price - Merensky ZAR/oz R 14 022 R 12 785

4E Basket Price - UG2 ZAR/oz R 13 917 R 12 761

Geology: Regional Map


Waterval Smelter Delivery Centre for Concentrator

Geology: Maseve

Geologists (2)

Geology

Chief Geologist

Samplers (3)

Resource Geologist

Geotechnician

Evaluation

U/G Contractor

Exploration

Surface Contractor

Core yard

Independent Q.P. Charles Muller


20141015_Maseve Bhole Collars

Geology – Exploration Surface drilling


Geology: West-East Section, Middling Increases Towards East


MR Trace

UG2 Trace

Block 11 Block 9 &12 Block 7

<---WEST EAST--->

60m Middling

Mining Right Boundary

329m BS 187m BS

518m BS

Surface

17

Geology: Merensky Domains and Early Ore targets


Merensky Reef Facies Model


2009 2014


Geology: Development Merensky Reef Intersections

20



21



22



23

Mining

• Nth - Mr Blk 6

• Nth - Mr Blk 12

• Nth - Mr Blk 10 & 11

• Sth – Mr Blk 16

Early Ore

• 300 000t by Sept 2015

• Main Target Merensky

• Supplement with UG2

Reef Stockpile • Commissioning - Sept

2015

Plant


North Shaft

South Shaft

Mining

BRPM – North Shaft

Maseve

North Shaft

South Shaft

Mining Method Scattered Breast Mining

26

Mining – Merensky Reef

Life of Mine Design


Mining – Life of Mine Production


0

20 000

40 000

60 000

80 000

100 000

120 000

140 000

160 000

180 000

Mar

-14

Jun

-14

Sep

-14

De

c-1

4

Mar

-15

Jun

-15

Sep

-15

De

c-1

5

Mar

-16

Jun

-16

Sep

-16

De

c-1

6

Mar

-17

Jun

-17

Sep

-17

De

c-1

7

Mar

-18

Jun

-18

Sep

-18

De

c-1

8

Mar

-19

Jun

-19

Sep

-19

De

c-1

9

Mar

-20

Jun

-20

Sep

-20

De

c-2

0

Mar

-21

Jun

-21

Sep

-21

De

c-2

1

Mar

-22

Jun

-22

Sep

-22

De

c-2

2

Mar

-23

Jun

-23

Sep

-23

De

c-2

3

Mar

-24

Jun

-24

Sep

-24

De

c-2

4

Mar

-25

Jun

-25

Sep

-25

De

c-2

5

N1M N2M N3M N5M N6M N7M N8M N9M N11M N10M B1M B2M B3M B4M

B5M B9M B10M B11M B12M B13M B14M B15M B16M B17M B18M B19M B20M B21M

BLK

Date

Sum of Mill Tonnes_bcr

Mining – North Mine


Reef Drive North – 683m

Mining – North Development


0.00

100.00

200.00

300.00

400.00

500.00

600.00

700.00

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13

Jul-

13

Au

g-1

3

Sep

-13

Oct

-13

No

v-1

3

De

c-1

3

Jan

-14

Feb

-14

Mar

-14

Ap

r-1

4

May

-14

Jun

-14

Jul-

14

Au

g-1

4

Sep

-14

Oct

-14

No

v-1

4

De

c-1

4

North Shaft Total Metres

Decline Waste Infrastructure Waste Reef Drive Reef Raise

Mining – South Mine


Mining- South Development


0.00

50.00

100.00

150.00

200.00

250.00

South Shaft Total Metres

Decline Waste

Mining – Value Engineering

o Mining

• PTM, DRA, JIC, Worleyparsons & Australian Specialists

o Rock Engineering

• OHMS & Worleyparsons

o Ventilation & Environment

• PTM, BBE & Bateleur Consultants

o Geology

• PTM, Minxcon & Specialist consultants

o Survey

• African Land Surveyors

o Underground infrastructure

• DRA

o Trackless

• PTM, Sandvik, Caterpillar, Fermel & International Master drillers


Mining – Milestones

o March 2015

• South shaft declines intersect Merensky reef horizon

o June 2015

• North shaft decline to mining block 10 and 11 Merensky reef

intersection

• Commissioning of second generator

o July 2015

• Start stoping Merensky reef in mining block 12

o September 2015

• Cold commissioning of plant

o October 2015

• Start stoping Merensky reef in mining block 10 and 11

o April 2016

• Start of steady state (160 Ktpm)


Engineering – OEM’s

o Sandvik

o Fermel

o Caterpillar


Power and Water

Power

o Eskom Power

• Power approved for 40MVA

• At full capacity will use about 20MVA

• Current usage is 3.2MVA

• Power cuts: we will cut off the fans and use

generator, that will be a saving up to 20%

Water

o Magalies Water

• Current water supply adequate


WBJV PROJECT 1 (MASEVE MINE)

SOCIAL AND LABOUR PLAN


Social and Labour Plan Progress Update

Community Stakeholder Engagement

Skills Development- training for external community

members

Local Economic Development (LED) Projects


Community Stakeholder Engagement Meetings

Meetings are held quarterly and progress update

regarding the mine is presented. Communities are

engaged on the following matters:

o Social and Labour Plan progress update

o Procurement and SMME development/opportunities

o Employment opportunities


Skills Development - Programme


Learnerships Internships

Skills Developments - Learnerships

• Twenty six (26) unemployed recruited from the local

communities

• Ten (10) registered and trained through Artisan

Training Institute (ATI) and ten (10) through Mankwe

FET College

• Learnerships - Boilermaker; Fitting and turning;

Diesel Mechanic; Instrument Mechanic



Maseve mine committed to nine (9) community

projects

Four (4) have been successfully implemented

Two (2) are still in the process of implementation




Tswaidi Secondary School Itumeleng Secondary School



Donation of 32 houses to the destitute families in Ledig community

Donation for health out reach programme to Moses Kotane Hospital

Black Economic Empowerment (“BEE”)

• Maseve Mining Right awarded in 2012

• Dilution of Wesizwe was filed with the DMR when it occurred

• Mining Charter scorecard was filed as required in May 2014

• Further review anticipated in March 2015

• DMR have inspected and no notices of non-compliance have

been issued

• We have a plan for increased BEE if required


Platinum Group Metals

Limited

Canada

Platinum Group Metals

(RSA)

(Pty) Limited

Maseve Investments

11

(Pty) Limited

Wesplats Holdings

(Pty)

Limited

Mnombo Wethu

Consultants (Pty)

Limited

Waterberg JV

100%

100% 49.9% 82.9%

Waterberg Extension

& Early Dawn

26%

37% 74%

Japan Oil, Gas and

Metals National

Corporation (JOGMEC)

26%

37%

Africa Wide Mineral

Prospecting and

Exploration (Pty) Ltd

17.1%

Platinum Group Metals – Holding Structure


Conclusions

Management team in place

Current schedule and costing is solid

Plans to be in MR in Blocks 10/11 Q4 2015

Stockpile build is underway


Platinum Group Metals Ltd. Suite 788 – 550 Burrard Street Vancouver, BC V6C 2B5 Canada +1 604-899-5450 [email protected] _____________________________ Platinum Group Metals RSA (Pty) Ltd. 1st Floor, Platinum House 24 Sturdee Avenue Rosebank, Johannesburg 2196 SA

mailto:[email protected]

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