Platinum Group Metals Ltd. Provides Correction to Comparison in Press Release

VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwired - March 17, 2016) - Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") provides a correction to the press release issued earlier today. The example comparisons to a typical Merensky reef are corrected to 3,000 cmg/t. All drill results, assays and other information in the news release are correct.

Qualified Person and Quality Assurance and Control

R. Michael Jones, P.Eng., the Company's President, Chief Executive Officer and a significant shareholder of the Company, is a non-independent qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects and is responsible for preparing the technical information contained in this news release. He has verified the data by ensuring experienced qualified personnel are working with the core and data, reviewing selected core, core logs and assay data, visiting the site and drill rigs and ensuring that the Independent Qualified Person is updated in the project progress and plans. Assay results are part of an extensive quality control program including chain of custody, insertion of blanks and standards, carefully reviewing data on company standards and checking accuracy with independent lab checks. The assays have been completed at Bureau Veritas Inspectorate and Set Point accredited laboratories by standard fire assay and ICP finish methods.

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, CEO and Co-Founder

Disclosure

The Toronto Stock Exchange and the NYSE MKT LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management. This press release may contain forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "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. Although the Company believes any 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. The Company directs readers to the risk factors described in the Company's Form 40-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.