2002

Defero Inc. Added to Investor Relations Team - Final Tranche of Financing Completed

Investor Relations

Platinum Group Metals Ltd., (PTG: CDNX), has contracted Defero Inc., ("Defero") to assist the Company in its investor relations efforts. Defero is a dynamic Corporate Communications firm, which combines years of Junior Equity Market experience and success with a forward-looking attitude. Jason Leikam of Defero employs technical expertise and market experience in order to effectively disseminate corporate news to the Shareholders.

Defero''s aim is to provide retail awareness and distribution, as well as to provide assistance for institutional exposure, primarily in Canada. Roth Investor Relations, based in Manalapan, New Jersey with affiliate offices in London and Johannesburg, will continue to represent the Company outside of Canada.

Defero has been engaged by the Company to arrange meetings with potential investors, maintain public relations, develop an email program, generate and follow-up with new leads and coordinate occasional road shows.

The Company has entered into a contract with a minimum three-month term, including a signing bonus of $10,000 and a monthly fee of $5,000. A separate Internet email program will be put in place for a period of 2 months at $1,000 per month. There is no stock, performance or option based compensation in the Defero contract. This contract is subject to regulatory approval.

Financing

Platinum Group Metals has closed the final tranche of the private placement financing, as previously announced, for 250,000 common shares at $0.25 per share.

Amalgamation

Platinum Group Metals Ltd. and New Millennium Metals Ltd. (CDNX: PGM) are in the final steps of completing their amalgamation. Shareholders of both companies resoundingly approved the amalgamation on January 28, 2002. The application for the amalgamation will be heard at the British Columbia Supreme Court on February 8, 2002. Provided the application is accepted, the companies are expected to be amalgamated the week of February 18, 2002.

The new Platinum Group Metals Ltd. will control a dominant position of some 350 square kilometers of mineral rights surrounding the Lac des Iles palladium mine, near Thunder Bay, Ontario; Canada''s only primary palladium mine. There are only two primary platinum group element ("PGE") mines in all of the North America, Lac des Iles near Thunder Bay, and Stillwater in Montana. The combined exploration package in the new Platinum Group Metals Ltd. is the largest known exploration land package, controlled by one company surrounding a primary PGE mine in North America.