PLATINUM GROUP METALS LTD

For the period ended Aug 31, 2024. Filed Nov 27, 2024.

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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.

FY2024 · Filed Nov 27, 2024

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Contents

EX-99.1 · Fiscal 2023 Developments

PLATINUM GROUP METALS LTD.

August 2022	South African High Court Rules Against Africa Wide Appeal
	On August 1, 2022, the High Court dismissed Africa Wide's application for leave to appeal the June 14, 2022, High Court Ruling dismissing their case seeking to reverse the Maseve Sale Transaction. Africa Wide was ordered to pay costs.
	Africa Wide Petitions South African Supreme Court of Appeal
	On August 31, 2022, Africa Wide filed a petition to the South African Supreme Court of Appeal for leave to appeal to that court, alternatively a full bench of the High Court, the June 14, 2022, High Court Ruling dismissing their case seeking to reverse the Maseve Sale Transaction. The Company and RBPlat filed answering affidavits opposing Africa Wide's petition. The petition was dismissed on November 10, 2022 (see below).

Fiscal 2023 Developments

October 2022	Lion Battery Granted Fourth Patent
	On October 4, 2022, the U.S. Patent and Trademark Office issued Patent No. 11,462,743 B2 entitled "Battery comprising a metal interlayer" to FIU. The patent involves the use of palladium as interlayer in batteries to stabilize and enable lithium metal anodes in various existing and emerging lithium battery technologies.
	DMR Dismisses Appeals to the Grant of Waterberg Mining Right
	On October 13, 2022, the Minister of the DMR ruled to dismiss a series of appeals filed in 2021 against the grant of the Waterberg Mining Right. In his ruling the Minister provided the regulatory reasons why each appeal was denied and also confirmed the DMR's assessment that Waterberg JV Co. has complied with BEE requirements and Social and Labour Plan community consultation processes.
	Waterberg JV Co. Approves Pre-Construction Work Program and Budget
	On October 18, 2022, the board of directors of Waterberg JV Co. unanimously approved the Pre-Construction Work Program amounting to approximately $21.0 million over a planned 23-month period ending August 31, 2024. Specific work items under the Pre-Construction Work Program included a 32-hole infill drill program, the Waterberg DFS Update, initial road access, water supply, essential site facilities, a first phase accommodation lodge, a site construction power supply from state utility ESKOM and advancement of the Waterberg SLP. The board of directors of Waterberg JV Co. also approved the Initial Budget, being the first component of the Pre-Construction Work Program, consisting of approx. $2.49 million scheduled to be spent by March 31, 2023.

Annual Information Form for the year ended August 31, 2024	27

PLATINUM GROUP METALS LTD.

November 2022	South African Supreme Court of Appeal Dismisses Africa Wide's Application for Leave to Appeal
	On November 10, 2022, the South African Supreme Court of Appeal dismissed Africa Wide's application with costs on the grounds that there was no reasonable prospect of success in an appeal and there was no other compelling reason why an appeal should be heard. (See July 2023 below).
January 2023	Waterberg Project Infill Drill Program Update
	On January 26, 2023, the Company reported results from the infill drill campaign at the Waterberg Project. Assay results for sixteen planned T Zone boreholes and one of sixteen planned F Zone boreholes were sent for assay by Intertek Genalysis Minerals and disclosed.
February 2023	Lion Battery Granted Fifth Patent
	On February 21, 2023, the U.S. Patent and Trademark Office issued FIU a fifth patent, No. 11,588,144 B2, entitled "Battery Cathodes for Improved Stability". The patent involves the fabrication of cathodes using palladium as a catalyst in carbon nanotubes. The carbon structure provides a barrier between the catalyst and the electrolyte, thereby increasing the stability of the electrolyte during charging and discharging of a battery. Further patents are currently applied for. Under the SRA, Lion Battery has exclusive rights to all intellectual property being developed by FIU including the patents granted.
March 2023	Waterberg JV Co. Approves Stage Two Budget
	On March 24, 2023, the directors, and shareholders of Waterberg JV Co. approved the Stage Two Budget consisting of $3.6 million for continued work on the Waterberg Project. The Stage Two Budget, covering the period from April 1, 2023, to August 31, 2023, is a subcomponent of the Pre-Construction Work Program approved in principle on October 18, 2022.
	Waterberg Project Infill Drill Program Results
	On March 30, 2023, the Company reported positive results from a completed infill drill campaign at the Waterberg Project. Assay results for sixteen planned F Zone boreholes were disclosed. Results were incorporated into the Waterberg DFS Update as described more fully below.
May 2023	Waterberg Project Drill Intercept Update
	On May 17, 2023, the Company reported that exploration borehole WE153 had intercepted platinum group metals mineralization consistent with both the T Zone and F Zone as found within the mineral resources and reserves of the Waterberg Project. Borehole WE153 was collared on prospecting rights owned by Waterberg JV Co. located adjacent to the north of the Waterberg Mining Right.
June 2023	JOGMEC and Hanwa Ownership Update
	On June 9, 2023, the Company reported that JOGMEC and Hanwa had established special purpose company HJM, to hold and fund their future equity interests in the Waterberg Project, with JOGMEC to fund 75% of future equity investments into HJM and Hanwa the remaining 25%.

Annual Information Form for the year ended August 31, 2024	28

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