Platinum Group Metals Reports 2014 Annual Results

VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwired - Nov. 25, 2014) - Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") reports the Company's financial results for the year ended August 31, 2014. For details of the consolidated financial statements (the "Financial Statements"), Management's Discussion and Analysis, Annual Information Form and Annual Report on Form 40-F for the year ended August 31, 2014, please see the Company's filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at www.platinumgroupmetals.net. Shareholders may request a copy of the complete Financial Statements from the Company free of charge.

The Company's cash position at August 31, 2014 was $108 million while at present the Company holds approximately $78 million in cash. The Company holds cash in Canadian dollars, United States dollars and South African Rand and changes in exchange rates may create variances in the cash holdings reported in Canadian dollars. All amounts herein are reported in Canadian dollars unless otherwise specified.

Platinum Group is focused on the construction of the Project 1 platinum mine ("Project 1") located near Rustenburg, South Africa and on further exploration and engineering on the newly discovered Waterberg platinum deposit located north of Mokopane, South Africa.

Phase 2 development at Project 1 began in January 2013 and will continue to utilize a majority of the Company's cash on hand and planned financing proceeds until positive cash flow is achieved. First production at Project 1 is planned for Q4 of calendar 2015, subject to the Company raising sufficient capital to complete remaining Phase 2 construction. Project 1 is operated by subsidiary company Maseve Investments 11 (Pty) Ltd. ("Maseve"). The Company's owners' team oversees engineering, procurement, construction and management firm DRA Mineral Projects (Pty) Ltd. and underground mining contractor JIC Mining Services. Including subcontractors there were approximately 1,631 persons on site at October 31, 2014 involved in underground development, mining and surface construction activities at Project 1. Approximately 24% of the people working on site are from the local community. Project 1 is now approximately 64% complete.