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Platinum Group Metals Ltd.: Drilling Results Update-Canada and South Africa


Business Wire, Feb 18, 2005 VANCOUVER, British Columbia -- Platinum Group Metals Ltd. (TSX VENTURE:PTM)(OTCBB:PTMQF) announces the following results and program details from four active platinum group metals focussed projects in Canada and South Africa;

Seagull Property - Thunder Bay, Ontario - PTM 70% Option Interest

Assays have been received for a further significant intercept from the Seagull Project located near Thunder Bay, Ontario. The latest assays have returned the best grade detected to date of 7.42 grams per tonne 3E (3.52 g/t platinum, 3.92 g/t palladium, 0.25 g/t gold) along with 0.39% Nickel and 0.80% Copper over 0.57 metres. A wider interval of the same intercept returned 3.77 grams per tonne 3E over 1.55 metres (1.66 g/t platinum, 1.98 g/t palladium, 0.13 g/t gold). These results were returned from an intercept previously not recognized as a reef interval and which was sampled over 2.0 metre systematic sample widths. An additional 45 centimetres of mineralized peridotite from immediately above this intercept had been previously removed for sulphur isotope determinations and was not available for re-sampling. This intercept is contained within hole WM00-05 at a depth of 734.45 metres and is hosted within a peridiotite unit in the basal portion of the Seagull Intrusion. Hole WM00-05 is located 650 metres to the southwest of Hole WM05-17, reported by PTM on January 19, 2005, which hosted an intercept of 6.21 g/t 6E + Au over 0.65 metres, also within the basal peridiotite sequence. Assays for rhodium, osmium, iridium and ruthenium for the new intercept are pending.

Drilling at Seagull is continuing with one drill rig and several additional new sulphide-bearing intercepts are in for assay. The peridiotite layer mineralization has now been recognized in Holes WM01-10 and WM01-09 and new assays have been returned grading 0.47 g/t 3E over 2.0 metres in hole 10 and 0.12 g/t 3E over 4 metres in hole 9. As further intercepts are completed a representative average of the grades for the four known and targeted PGE bearing layers should emerge.

War Springs, North Limb of the Bushveld Complex - South Africa - 70% PTM

Drilling on 500 metre spaced sections, geophysics, mapping and geochemistry at the War Springs property has confirmed the lateral continuity of platinum bearing reef units over 2500 metres. This level of continuity for such reef layers is unusual for the Platreef in the North Limb. Initial drilling has outlined an area of approximately 1250 metres in length that is being targeted for its higher reef grade and thickness. This area is the subject of fill-in drilling now underway with one drill rig drilling 80 to 100 metre deep holes spaced 125 metres apart along the C and B reefs. One step out Hole, ORL-11, 500 metres to the south on the remaining untested 3 kilometres of the North Limb strike length has been completed and assays are pending.

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WAR SPRINGS DETAILS MINERALIZED INTERSECTIONS
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BHID Inter- Len- 2PGE+
cept gth Re- Pt Pd Au Au Cu Ni Cu+Ni
(m) (m) ef (g/t) (g/t) (g/t) (g/t) (%) (%) (%)
ORL-1 64 5 C 0.12 0.55 0.03 0.70 0.013 0.032 0.046
B No significant value intersected
600 10 A 0.33 0.74 0.09 1.16 0.229 0.283 0.512
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ORL-2 C Not intersected
B No significant value intersected-faulted
A Stopped short
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ORL-3 69 7 C 0.37 1.85 0.14 2.35 0.099 0.128 0.227
326 5 B 0.52 1.03 0.16 1.71 0.299 0.379 0.680
A Stopped short-drilling problem
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ORL-4 70 4 C 0.24 2.25 0.26 2.76 0.126 0.133 0.258
390 9 B 0.56 1.26 0.18 1.99 0.356 0.393 0.749
602 5 A 0.30 0.30 0.03 0.63 0.037 0.069 0.106
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ORL-5 90 12 C 0.14 0.58 0.04 0.77 0.025 0.035 0.060
377 4 B 0.16 0.38 0.06 0.60 0.145 0.177 0.322
596 5 A 0.40 0.45 0.12 0.97 0.057 0.111 0.168
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ORL-6 C Not Targeted
42 8 B 0.17 0.39 0.07 0.63 0.180 0.190 0.370
305 2 A 0.26 0.51 0.04 0.80 0.070 0.130 0.200
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ORL-7 C Not Targeted
B No significant value intersected
209 2 A 0.10 0.47 0.06 0.63 0.027 0.095 0.121
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ORL-8 C Not Targeted
46 2 B 0.20 0.35 0.04 0.60 0.062 0.121 0.183
257 1 A 0.20 0.66 0.04 0.89 0.059 0.142 0.201
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ORL-9 C Not Targeted
101 10 B 0.19 0.35 0.05 0.59 0.13 0.15 0.28
A ND ND ND ND ND ND ND
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ORL-10 C Not Targeted
B ND ND ND ND ND ND ND
377 2 A 0.54 0.28 0.02 0.85 0.049 0.097 0.146
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"ND" signifies Reef having not been developed

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