Platinum Group Metals Ltd.
OTC Bulletin Board : PTMQF
TSX : PTM

Platinum Group Metals Ltd.

January 17, 2007 20:43 ET

Platinum Group Metals Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Platinum Group Metals Ltd. (TSX:PTM)(OTCBB:PTMQF) announces that in compliance with its stock option plan approved at its Annual General Meeting on January 10, 2007 it has granted 1,015,000 incentive stock options to officers, directors, and employees of the Company. The options may be exercised at a price of $2.57 per common share, for a period of up to five years from the date of grant. The common shares underlying the options will bear a four month resale restriction from January 16, 2007. Officers and Directors of the Company were lasted granted options in February 2005. The Company currently has 4,417,875 incentive stock options outstanding under its stock option plan including the current grant.

The Company option plan provides long term incentive to the Company's personnel.

Platinum Group Metals Ltd. (www.platinumgroupmetals.net)

PTM is based in Vancouver, BC, Canada and Johannesburg, South Africa, with a dual-continent management team who provide successful track records of more than 20 years in exploration, mine discovery, mine construction, and mine operations.

Formed in 2000, PTM is focused on the development of platinum operations in both countries. PTM holds significant mineral rights in the Northern and Western Limbs of the Bushveld Igneous Complex of South Africa including a joint venture with Anglo Platinum Limited on the Western Limb of the Bushveld Complex. PTM has earned a 37% interest in the Western Bushveld Joint Venture. Further areas are under drilling investigation.

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, President and Director

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 328-550 Burrard Street, Vancouver BC, Canada, V6C 2B5 or from the SEC: 1(800) SEC-0330.

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.

Contact Information

  • Platinum Group Metals Ltd.
    R. Michael Jones
    President
    (604) 899-5450 or Toll Free: 1-866-899-5450
    or
    Platinum Group Metals Ltd.
    John Foulkes
    Manager Corporate Development
    (604) 899-5450 or Toll Free: 1-866-899-5450
    or
    Platinum Group Metals Ltd.
    Erin Airton
    Manager Communications & Strategic Planning
    (604) 899-5450 or Toll Free: 1-866-899-5450
    (604) 484-4710 (FAX)
    Website: www.platinumgroupmetals.net
    or
    Roth Investor Relations, NJ
    Larry Roth
    (732) 792-2200