Platinum Group Metals, Anglo Platinum and Wesizwe Platinum Purchase Hoisting Equipment for Platinum Mine Project 1

VANCOUVER, BRITISH COLUMBIA AND JOHANNESBURG, SOUTH
AFRICA, Apr 10 (MARKET WIRE) --
Platinum Group Metals Ltd. (TSX: PTM)(AMEX: PLG) ("Platinum Group")
announces that it, along with Anglo Platinum (JSE: AMS) and Wesizwe
Platinum (JSE: WEZ) have entered into agreements to purchase three used
mine hoists for a total delivered cost of 21 million Rand (C$2.6
million). The cost will be shared pro-rata by the members of the Western
Bushveld Joint Venture ("WBJV") as to 37% Platinum Group, 37% Anglo
Platinum, and 26% Wesizwe. The hoists are an important mine component
used to wind cable for the ascent and descent of men, materials,
equipment and rock to and from surface in vertical shafts.

The WBJV project area is located 40 kilometres north of Rustenburg, South
Africa and consists of three potential platinum mining areas identified
as Projects 1, 2 and 3. The hoists were recommended for purchase by
engineering and shaft sinking firm Grinaker LTA as part of ongoing
feasibility work for WBJV Project 1.

Peter Busse, Chief Operating Officer of Platinum Group, operator of the
WBJV, said, "We are nearing completion of our bankable feasibility study
("BFS") on Project 1. Final modeling and optimization is now underway
based on cost estimates and various current metals price assumptions. We
are reviewing a number of potential sequences with a combination of
declines and vertical shafts for access over the life of the mine.
Hoisting equipment includes large steel fabricated components and such
items have a long lead time from order to delivery. The hoist purchase
allows for an accelerated project development schedule in the early
vertical shaft options. This purchase keeps our project options open for
best value as we determine the final sequence of access and mining.
Completion of the BFS is on track for the end of the second calendar
quarter 2008."

If under the WBJV agreement, Anglo Platinum elects, after the feasibility
study, to reduce to a non-contributory interest in the WBJV they will be
repaid their share of the winder purchase with interest.

Qualified Person

Peter Busse, P. Eng is the non independent qualified person for this
release. Peter is a mining engineer with mine operation and construction
experience spanning some 29 years including operations in Canada and
Zimbabwe. Mr. Busse was appointed COO of Platinum Group Metals Ltd. in
October 2007. This news release includes certain forward looking
statements and investors are cautioned that the projects of Platinum
Group Metals contain resources and that resources do not have
demonstrated viability. Please see more complete technical disclosure
including risk factors available on SEDAR or EDGAR.

About Platinum Group Metals Ltd.

Platinum Group is based in Vancouver BC, Canada and Johannesburg, South
Africa. Platinum Group has a management team in both Canada and South
Africa, which have successful track records of more than 20 years in
exploration, mine discovery, mine construction and mine operations. The
Company was formed in 2000 and is focused on the development of platinum
operations. It holds significant mineral rights in the Northern and
Western Bushveld Igneous Complex of South Africa.

Platinum Group is also a significant mineral rights holder in the area
surrounding Canada's only primary platinum and palladium mine near
Thunder Bay, Ontario Canada.

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, President and Director

This press release contains forward-looking statements within the meaning
of Canadian and U.S. securities laws. Such statements include, without
limitation, statements regarding the timing of future activities by the
Company, future anticipated exploration and development programs, the
review of technical information, the discovery and delineation of mineral
deposit and resources, business plans, potential mining scenarios,
business trends and future operating factors. Although the Company
believes that such statements are reasonable, it can give no assurance
that such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or are
those, which, by their nature, refer to future events. All statements
that are not statements of historical fact are forward-looking
statements. The Company cautions investors that any forward-looking
statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those in
forward looking statements as a result of various factors, including, but
not limited to, variations in the nature, quality and quantity of any
mineral deposits that may be located, the Company's ability to obtain any
necessary permits, consents or authorizations required for its
activities, the Company's ability to produce minerals from its properties
successfully or profitably, to continue its projected growth, or to be
fully able to implement its business strategies.

In addition, forward-looking statements are subject to various risks,
including that data is incomplete and considerable additional work will
be required to complete further evaluation, including but not limited to
drilling, engineering and socio-economic studies and investment; no firm
quotes for costs have been received; the legal right to mine the project
discussed has not been confirmed or applied for and the process for such
application is new in South Africa; the potential capital cost of the
project is beyond the current means of the Company and there can be no
assurance that financing for further work will be available. There are
significant risks with respect to grade estimation, metallurgical
recovery and mining plans that may result in over estimation or failure
to meet targets. Availability of grid electrical power is completely
outside the company control. Any estimates, plans or studies prepared by
or on behalf of other companies with respect to the project have not been
prepared or reviewed by the Company or the Company's QPs and such
disclosure can't and should not be in any way be attributed to the
Company or the Company's QPs, independent or non-independent. Any
reference to Project 2 does not imply that this is a stand alone area for
any potential mine plan. The reader is referred to the Company's filings
with the SEC and Canadian securities regulators for disclosure regarding
other risk factors. There is no certainty that any forward looking
statement will come to pass and investors should not place undue reliance
upon forward-looking statements.

TSX Exchange and the American Stock Exchange have
not reviewed and do not accept responsibility for the accuracy or
adequacy of this news release, which has been prepared by management.

Contacts:
Platinum Group Metals Ltd.
R. Michael Jones
President
(604) 899-5450 or Toll Free: 1-866-899-5450

Platinum Group Metals Ltd.
John Foulkes
Manager Corporate Development
(604) 899-5450 or Toll Free: 1-866-899-5450
Website: www.platinumgroupmetals.net

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