2004

Significant Platinum Palladium Drill Intersection At Tweespalk Project Northern Limb Bushveld Complex

Platinum Group Metals Ltd. (PTM: TSX-V) reports an initial drill intersection of 1.09 grams per tonne Platinum, Palladium and Gold over 27.99 meters, including an interval of 4.40 grams per tonne over 4.04 meters. Additional platinum and palladium analyses are pending for 21 meters of drill core immediately adjacent and below this mineralized intercept. The mineralization encountered so far occurs above the basal contact of the Bushveld Intrusion. The next 21 meters at the bottom of this hole includes the basal contact.

Copper-Nickel and Rhodium values for Hole TW-1 are also pending. PTM''s phase one drilling at Tweespalk consisted of 3 holes for 1260 meters as an initial test of the layered Bushveld Intrusion rocks that cross the property for approximately 3.6 kilometers of strike length. These initial 3 vertical holes at Tweespalk were drilled 425 meters to 800 meters apart as a broad stratigraphic test. Hole TW-2 was drilled 800 meters north along strike from TW-1. TW-3 was drilled 425 meters up dip of Hole TW-1.

The results of this first phase of drilling have confirmed the presence of a traditional Bushveld layered sequence on the property with potential to host economic PGE mineralization. PTM now intends to complete additional follow-up drilling on the property in order to fully explore this potential.

The Tweespalk property is located 60 kilometers Northwest of the town of Mokopane (formally know as Potgietersrust) on the outcrop of the Northern Limb of the Bushveld Igneous Complex in the Republic of South Africa. Anglo American Platinum Corporation Limited ("Amplats") in joint venture with Anooraq Resources Corporation (ARQ-TSXV) holds the properties adjacent to the south of the Tweespalk property. Further to the south, about 30 kilometers, is Amplats'' PPRust Mine. South of PPRust is the exploration area being developed by Africa Minerals. The Nonnenwerth Platinum Deposit and the Aurora property are located to the north of Tweespalk and are operated by Pan Palladium.

Qualified Person and Quality Control and Assurance
R. Michael Jones BA.Sc, P.Eng, acted as the qualified person for this release. Mr. Jones supervised the work of contracted geologists and Mr. John Gould, geologist, and Managing Director of Platinum Group Metals RSA Pty Ltd. Samples were analyzed for Au, Pt and Pd by standard fire assay with an ICP-MS finish and for base metal elements by ICP-MS. The samples were assayed at Anglo American Research Laboratories Pty Ltd, Johannesburg, South Africa. PTM employs a rigorous quality control program which includes insertion of blanks, duplicates and certified reference materials in the assay stream once in every 24 or fewer samples. This is in addition to internal quality control measures undertaken by the contracted analytical facilities.

About PTM
Platinum Group Metals Ltd. is based in Vancouver BC, Canada and has active exploration programs in Canada and South Africa. PTM, as the name suggests, is focused on exploration and development of platinum, palladium, and other platinum group element resources. The Company sees both platinum and palladium as important in its vision and mission. The Company''s large portfolio of PGE projects across Canada and South Africa distinguishes the Company from its competitors.

PTM continues to be the largest mineral rights holder in the area surrounding Canada''s only primary platinum and palladium mine near Thunder Bay, Ontario. The Company has also recently announced the successful completion of a Phase 1 drilling program on the Lakemount Ni-Cu-PGE Property near Wawa, Ontario.

PTM holds significant mineral rights on the Northern and Western Limbs of the Bushveld Complex in South Africa and is continuing to acquire additional mineral rights in the world''s premier platinum producing district. PTM was recently granted an exploration permit for its War Springs Platinum Project on the Northern Limb, South of the PPRust Mine and African Minerals'' Project and phase one exploration programs at War Springs are now underway.


On behalf of the Board of
Platinum Group Metals Ltd.
"R. Michael Jones"
R. Michael Jones
President, Director
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For further information on Platinum Group Metals visit our website www.platinumgroupmetals.net or contact:
R. Michael Jones, President
John Foulkes, Manager Corporate Development (604) 899-5450

Platinum Group Metals Ltd.

Larry Roth (732) 792-2200
Roth Investor Relations

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Note to U.S. Investors: Investors are urged to consider closely the disclosure in our Form 20F, File No. 0-30306, available at our office: Suite 800 -- 409 Granville Street, Vancouver BC, Canada, V6C 1T2 or from the SEC: 1(800) SEC-0330.