Platinum Group Metals Ltd. Hosts Webcast for Update WBJV Platinum Project 1 Independent Feasibility Study

VANCOUVER, BRITISH COLUMBIA AND JOHANNESBURG, SOUTH
AFRICA, Oct 08 (MARKET WIRE) --
Platinum Group Metals Ltd. (TSX: PTM)(NYSE Amex: PLG) will conduct a
teleconference in conjunction with today's announcement of the
Feasibility Study Update. The teleconference begins at 1:00PM Eastern
Standard Time today, Thursday, October 8th, 2009. Members of the news
media, investors and the general public are invited to access a live
webcast of the conference call via a link on the Platinum Group Metals
Ltd.'s website at www.platinumgroupmetals.net. The event will be archived
and available for replay through to October 8th, 2010.

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 each in
exploration, mine discovery, mine construction and mine operations. The
Company was formed in 2000 and is focused on the development of platinum
operations.

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, President and CEO

This press release contains forward-looking statements within the meaning
of Canadian and U.S. securities laws. 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.
Forward-looking statements in this press release include, without
limitation, statements regarding the timing, size and use of proceeds of
the proposed private placement and the potential to increase the
Company's interest in certain of its projects. In addition, the results
of the feasibility study may constitute forward-looking statements to the
extent that they reflect estimates of mineralization, capital and
operating expenses, metal prices and other factors. Although the Company
believes the forward-looking statements in this press release are
reasonable, it can give no assurance that the expectations and
assumptions in such statements will prove to be correct. 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
market conditions, 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 and other risk factors
described in the Company's Form 40-F annual report, annual information
form and other filings with the SEC and Canadian securities regulators,
which may be viewed at www.sec.gov and www.sedar.com, respectively.

The Toronto Stock Exchange and the New York Stock Exchange - AMEX 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 / Toll Free: (866) 899-5450

Platinum Group Metals Ltd.
Kris Begic
Corporate Development
(604) 899-5450 / Toll Free: (866) 899-5450
(604) 484-4710 (FAX)
www.platinumgroupmetals.net

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