Platinum Group Metals' DFS for the Waterberg project is advancing according to plan. The target date for the completion of the DFS is the end of calendar Q1, 2019.

An updated resource model to be used in the DFS is in the final stages of calculations and peer review.

Three-dimensional models have been provided to independent project engineer for mine design, Stantec Consulting International.

The mine design involves bulk underground fully mechanised methods. Optimisation of the methods utilised for Platinum Group Metals October 2016, Waterberg Pre-feasibility Study is in progress.

Metallurgical test work and infrastructure designs are also progressing well, led by independent project engineer for plant design and metallurgy DRA Projects SA, who are an experienced platinum and palladium plant, engineering and construction firm.

The DFS is looking at two potential scales for the project as previously announced, including a 600,000 tonne per month option and a 250,000 -350,000 tonne per month option.

A Mining Right Application for Platinum Group Metals' Waterberg Project, endorsed by all of the Waterberg Joint Venture partners, including Impala Platinum, Japan Oil, Gas and Metals National Corporation and Mnombo Wethu Consultants, was filed in early September 2018.

The detailed consultation process in the area of the mine has commenced as required under Environmental Assessment and Mining Right regulations and specialist consultants have been engaged to manage and document this process.

Co-operation with the Capricorn Municipality surrounding the mine has been active and positive including work on regional water supply plans and infrastructure under a recently signed co-operation agreement.

Work on the planned national electrical grid connection for the project is also progressing well. Consultation on powerline servitudes and permits are advancing on plan as part of the DFS.

Platinum Group Metals is the Waterberg project operator and currently holds an effective 50.02% interest in the project.

Platinum Group Metals notes that the Waterberg project is dominated by palladium and there are very few deposits of this type in the world.

Palladium has been gaining market interest based on continued demand in the auto sector, due to a growing trend towards gasoline engines and hybrids that use palladium dominant catalysts.

Platinum Group Metals is focused on completing the DFS for Waterberg on time and on budget with the assistance of its project partners.