Platinum Group Metals Announces 1:10 Reverse Split

Platinum Group Metals Ltd. (NYSE MKT:

) today announced a consolidation of its common shares on the basis of one new share for ten old shares (1:10), and the Company's consolidated common shares are expected to begin trading on the Toronto Stock Exchange ("TSX") and NYSE MKT when the markets open on January 28, 2016. The purpose of the consolidation is to increase the Company's common share price to meet the minimum share price requirements of the NYSE MKT.Each ten (10) common shares issued and outstanding immediately prior to January 26, 2016 will automatically be reclassified, without any action of the holder thereof, into one common share. The share consolidation will affect all of the Company's common shares outstanding immediately prior to the market opening on January 26, 2016. As a result of the share consolidation, the number of issued and outstanding common shares will be reduced from 775,914,708 to 77,591,471 (subject to fractional treatment). Each shareholder's percentage ownership in the Company and proportional voting power remained unchanged after the share consolidation, except for minor changes and adjustments resulting from the treatment of