Platinum Group Metals Reports 20% Increase in Mineral Reserves and Cost Reductions 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, highlighting substantial improvements in mineral reserves and cost efficiencies. The study, prepared by leading engineering firms Stantec and DRA with project management oversight from South Africa-based Fraser McGill, represents a significant advancement from the original 2019 Waterberg DFS.

The updated study reveals a 20% increase in proven and probable mineral reserves, now totaling 23.41 million ounces of combined platinum, palladium, rhodium and gold across a projected 54-year mine life. This expansion in 4E reserves substantially enhances the project's long-term value proposition and resource sustainability. The increased reserve base provides greater certainty for investors and stakeholders regarding the project's longevity and production potential.

Beyond the reserve expansion, the updated DFS incorporates several technical enhancements that have resulted in meaningful cost reductions. Both capital and operating costs have been lowered through optimized engineering designs and improved project execution strategies. These cost efficiencies are particularly significant given the current economic environment and the capital-intensive nature of mining projects. The streamlined construction and ramp-up schedule further contributes to the project's improved economic metrics and reduced execution risk.

The Waterberg Project represents one of the largest undeveloped platinum group metal deposits globally, and these updated results reinforce its position as a strategically important asset in the global platinum and palladium supply chain. The project's scale and improved economics come at a time when the market is increasingly focused on sustainable and long-life mining operations. For more information about the company, visit https://www.PlatinumGroupMetals.net.

The latest developments at Waterberg demonstrate Platinum Group Metals' continued progress in advancing this world-class project toward production. The combination of increased reserves and reduced costs significantly enhances the project's investment appeal and positions it favorably within the competitive landscape of global platinum group metal projects. These improvements provide a stronger foundation for future development decisions and potential financing arrangements.