# Platinum Group Metals Ltd. Announces Positive Independent Definitive Feasibility Study Update for the Waterberg Mine Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db Original source: https://money.tmx.com/en/quote/PTM/news/8645544956403368/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility- Publisher: tmx Original announcement: 2024-09-16T05:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Platinum Group Metals Ltd. - Ticker: PTM - Exchange: TSX - Region: South Africa - Primary commodity: Platinum - Secondary commodities: Palladium, Rhodium, Gold, Copper, Nickel - Document categories: Resource update, Metallurgy - Extracted: 2026-09-14 19:10:20 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Platinum Group Metals Ltd. announced positive results from an updated Definitive Feasibility Study for its Waterberg Mine, highlighting a 20% increase in Proven and Probable mineral reserves to 23.41 million 4E oz and an extended life of mine to 54 years. The study projects robust after-tax economics with an NPV of US$569 million \(8% discount rate\) and an IRR of 14.2%, positioning Waterberg as one of the lowest-cost PGM mines. Key improvements include increased resource confidence, enhanced orebody continuity, and a reduction in estimated total project capital to US$946 million. Reasoning: The 2024 DFS update for the Waterberg Mine demonstrates significantly improved project economics, increased mineral reserves and resources, and de-risking through optimized mine planning and reduced capital expenditure, validating its world-class nature and long-term viability. - Positive factor: Increased Mineral Reserve Estimate - Positive factor: Extended Life of Mine - Positive factor: Robust Economics - Positive factor: Low Cost PGM Mine - Positive factor: Strong Cash Flow Generation - Positive factor: Reduced Capital Expenditure - Positive factor: Increased Confidence in Resources - Positive factor: Increased Continuity - Positive factor: Increased Mineral Resources - Positive factor: Reduced Water Consumption - Positive factor: Reduced Risk - Negative factor: Concentrate offtake terms not yet agreed - Negative factor: Assessment of external smelter feasibility indicates potential processing uncertainty Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 230 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The 2024 DFS was prepared in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Evidence · text > within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects \(" NI 43-101 "\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The DFS was completed by Qualified Persons as defined in NI 43-101 and S-K 1300. Evidence · text > completed by the same authors and Qualified Persons \(each, a " QP "\) **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: Proven and Probable mineral reserves increased by 20% to 23.41 million 4E oz \(246.2 million tonnes\). Evidence · text > Proven and Probable mineral reserves increased by 20% to 23.41 million 4E oz \(246.2 million tonnes at an average grade of 2.96 4E g/t, 0.08% copper \(" Cu "\), and 0.17% nickel \(" Ni "\). **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Proven and Probable mineral reserves increased by 20% to 23.41 million 4E oz. Evidence · text > Proven and Probable mineral reserves increased by 20% to 23.41 million 4E oz **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The 32 hole infill drill program completed in 2023 increased the confidence level of resources in shallow mine blocks. Evidence · text > The 32 hole infill drill program completed in 2023 increased the confidence level of resources in shallow mine blocks in the T-Zone and F-Central Zone, and refined the delineation of subcrop positions, improving the overall deposit model and the shallow portion of the mine plan. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The 4E economic cut-off grade for feasibility modeling of the F-Central Zone and F-South Zone was reduced to 2.0 4E g/t, and other zones at 2.5 4E g/t. Evidence · text > The 4E economic cut-off grade for feasibility modeling of the F-Central Zone and F-South Zone was reduced by one half a gram to 2.0 4E g/t **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: Metallurgical recoveries are based on a standard South African flotation MF-2 \(Mill-Float-Mill-Float\) circuit. Evidence · text > DRA, an experienced South African engineering, procurement, construction and management firm, based the plant designs, metallurgical recoveries and costing on a standard South African flotation MF-2 \(Mill-Float-Mill-Float\) circuit. **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: Modelled recoveries were completed for the different recovered elements and zones within the Waterberg Project mining complex. Evidence · text > Modelled recoveries were completed for the different recovered elements and zones within the Waterberg Project mining complex over the 54 year LOM ## Extracted facts Stored fact records: 230. Some facts used in scoring do not have a stored record. ## Resource Estimates (227) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-0) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 0.89 - Grade Unit: g/t - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.89 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-1) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 2.01 - Grade Unit: g/t - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for palladium contributes significantly to the overall project, indicating high confidence in this portion of the resource. - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 2.01 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-2) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for rhodium, a valuable PGM, adds to the overall project value with high confidence. - Positive factor: High confidence category - Positive factor: Valuable PGM Evidence · table > 0.05 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-3) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 0.19 - Grade Unit: g/t - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for gold, a valuable byproduct, adds to the overall project value with high confidence. - Positive factor: High confidence category - Positive factor: Valuable byproduct Evidence · table > 0.19 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-4) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 3.14 - Grade Unit: g/t - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured 4E resource indicates high confidence in a substantial portion of the overall PGM resource. - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 3.14 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-5) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 0.09 - Grade Unit: % - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for copper, a valuable byproduct, adds to the overall project value with high confidence. - Positive factor: High confidence category - Positive factor: Valuable byproduct Evidence · table > 0.09 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-6) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:af3467cd4e44108ae68b - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 83320000 - Grade: 0.19 - Grade Unit: % - Contained Metal: 261389 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for nickel, a valuable byproduct, adds to the overall project value with high confidence. - Positive factor: High confidence category - Positive factor: Valuable byproduct Evidence · table > 0.19 Context: 83.32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-7) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ad18be4b5609d34bf92a - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 0.88 - Grade Unit: g/t - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.88 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-8) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ad18be4b5609d34bf92a - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 1.91 - Grade Unit: g/t - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for palladium provides good confidence for future economic studies. - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.91 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-9) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:11f8bf03372b3a6f4f4f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 0.04 - Grade Unit: g/t - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for rhodium, a valuable PGM, adds to the overall project value with good confidence. - Positive factor: Good confidence category - Positive factor: Valuable PGM Evidence · table > 0.04 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-10) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ad18be4b5609d34bf92a - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 0.18 - Grade Unit: g/t - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for gold, a valuable byproduct, adds to the overall project value with good confidence. - Positive factor: Good confidence category - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-11) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:11f8bf03372b3a6f4f4f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 3.01 - Grade Unit: g/t - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated 4E resource provides good confidence for a substantial portion of the overall PGM resource. - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 3.01 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-12) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ad18be4b5609d34bf92a - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 0.09 - Grade Unit: % - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for copper, a valuable byproduct, adds to the overall project value with good confidence. - Positive factor: Good confidence category - Positive factor: Valuable byproduct Evidence · table > 0.09 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-13) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ad18be4b5609d34bf92a - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 261720000 - Grade: 0.18 - Grade Unit: % - Contained Metal: 788532 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for nickel, a valuable byproduct, adds to the overall project value with good confidence. - Positive factor: Good confidence category - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 261.72 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-14) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 0.88 - Grade Unit: g/t - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated resource for platinum provides a strong basis for economic evaluation. - Positive factor: Combined Measured and Indicated resource - Positive factor: Significant contained metal Evidence · table > 0.88 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-15) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 1.94 - Grade Unit: g/t - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated resource for palladium provides a strong basis for economic evaluation. - Positive factor: Combined Measured and Indicated resource - Positive factor: Significant contained metal Evidence · table > 1.94 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-16) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated resource for rhodium, a valuable PGM, adds to the overall project value. - Positive factor: Combined Measured and Indicated resource - Positive factor: Valuable PGM Evidence · table > 0.05 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-17) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 0.18 - Grade Unit: g/t - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated resource for gold, a valuable byproduct, adds to the overall project value. - Positive factor: Combined Measured and Indicated resource - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-18) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 3.04 - Grade Unit: g/t - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated 4E resource provides a strong basis for economic evaluation of the PGM project. - Positive factor: Combined Measured and Indicated resource - Positive factor: Significant contained metal Evidence · table > 3.04 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-19) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 0.09 - Grade Unit: % - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated resource for copper, a valuable byproduct, adds to the overall project value. - Positive factor: Combined Measured and Indicated resource - Positive factor: Valuable byproduct Evidence · table > 0.09 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-20) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:284aa36b6691a70a4e92 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 345030000 - Grade: 0.18 - Grade Unit: % - Contained Metal: 1049921 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Measured and Indicated resource for nickel, a valuable byproduct, adds to the overall project value. - Positive factor: Combined Measured and Indicated resource - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 345.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-21) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 0.89 - Grade Unit: g/t - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.89 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-22) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 1.76 - Grade Unit: g/t - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for palladium adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.76 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-23) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 0.04 - Grade Unit: g/t - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for rhodium adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.04 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-24) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 0.26 - Grade Unit: g/t - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for gold adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.26 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-25) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 2.96 - Grade Unit: g/t - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred 4E resource adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 2.96 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-26) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 0.08 - Grade Unit: % - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for copper adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.08 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-27) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3f5ba5df882c7e159471 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 89700000 - Grade: 0.15 - Grade Unit: % - Contained Metal: 265099 - Contained Unit: kg - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for nickel adds to the overall resource base but has lower geological confidence. - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.15 Context: 89.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-28) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 0.86 - Grade Unit: g/t - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven reserve for platinum indicates high confidence and economic viability for this portion of the resource. - Positive factor: Highest confidence category - Positive factor: Demonstrated economic viability Evidence · table > 0.86 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-29) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 1.97 - Grade Unit: g/t - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven reserve for palladium indicates high confidence and economic viability for this portion of the resource. - Positive factor: Highest confidence category - Positive factor: Demonstrated economic viability Evidence · table > 1.97 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-30) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven reserve for rhodium, a valuable PGM, indicates high confidence and economic viability. - Positive factor: Highest confidence category - Positive factor: Valuable PGM Evidence · table > 0.05 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-31) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 0.18 - Grade Unit: g/t - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven reserve for gold, a valuable byproduct, indicates high confidence and economic viability. - Positive factor: Highest confidence category - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-32) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 3.06 - Grade Unit: g/t - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven 4E reserve indicates high confidence and economic viability for a substantial portion of the PGM project. - Positive factor: Highest confidence category - Positive factor: Demonstrated economic viability - Positive factor: Significant contained metal Evidence · table > 3.06 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-33) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 0.07 - Grade Unit: % - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven reserve for copper, a valuable byproduct, indicates high confidence and economic viability. - Positive factor: Highest confidence category - Positive factor: Valuable byproduct Evidence · table > 0.07 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-34) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:27d91a69f4d549ec2629 - Mining method: underground - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 64299103 - Grade: 0.17 - Grade Unit: % - Contained Metal: 196681 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Proven reserve for nickel, a valuable byproduct, indicates high confidence and economic viability. - Positive factor: Highest confidence category - Positive factor: Valuable byproduct Evidence · table > 0.17 Context: 64,299,103 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-35) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 0.84 - Grade Unit: g/t - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable reserve for platinum indicates good confidence and economic viability for this portion of the resource. - Positive factor: Good confidence category - Positive factor: Demonstrated economic viability Evidence · table > 0.84 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-36) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 1.85 - Grade Unit: g/t - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable reserve for palladium indicates good confidence and economic viability for this portion of the resource. - Positive factor: Good confidence category - Positive factor: Demonstrated economic viability Evidence · table > 1.85 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-37) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 0.04 - Grade Unit: g/t - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable reserve for rhodium, a valuable PGM, indicates good confidence and economic viability. - Positive factor: Good confidence category - Positive factor: Valuable PGM Evidence · table > 0.04 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-38) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 0.18 - Grade Unit: g/t - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable reserve for gold, a valuable byproduct, indicates good confidence and economic viability. - Positive factor: Good confidence category - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-39) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 2.92 - Grade Unit: g/t - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable 4E reserve indicates good confidence and economic viability for a substantial portion of the PGM project. - Positive factor: Good confidence category - Positive factor: Demonstrated economic viability - Positive factor: Significant contained metal Evidence · table > 2.92 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-40) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 0.08 - Grade Unit: % - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable reserve for copper, a valuable byproduct, indicates good confidence and economic viability. - Positive factor: Good confidence category - Positive factor: Valuable byproduct Evidence · table > 0.08 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-41) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:8ba1f69d9970f4fe7c02 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 181902775 - Grade: 0.17 - Grade Unit: % - Contained Metal: 531324 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Probable reserve for nickel, a valuable byproduct, indicates good confidence and economic viability. - Positive factor: Good confidence category - Positive factor: Valuable byproduct Evidence · table > 0.17 Context: 181,902,775 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-42) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 0.85 - Grade Unit: g/t - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable reserve for platinum provides a strong basis for economic evaluation and mine planning. - Positive factor: Combined Proven and Probable reserve - Positive factor: Significant contained metal Evidence · table > 0.85 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-43) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 1.88 - Grade Unit: g/t - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable reserve for palladium provides a strong basis for economic evaluation and mine planning. - Positive factor: Combined Proven and Probable reserve - Positive factor: Significant contained metal Evidence · table > 1.88 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-44) Waterberg Project · rhodium #### Identity - Project: Waterberg Project - Commodity: rhodium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 0.04 - Grade Unit: g/t - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable reserve for rhodium, a valuable PGM, adds to the overall project value. - Positive factor: Combined Proven and Probable reserve - Positive factor: Valuable PGM Evidence · table > 0.04 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-45) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 0.18 - Grade Unit: g/t - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable reserve for gold, a valuable byproduct, adds to the overall project value. - Positive factor: Combined Proven and Probable reserve - Positive factor: Valuable byproduct Evidence · table > 0.18 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-46) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 2.96 - Grade Unit: g/t - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable 4E reserve provides a strong basis for economic evaluation and mine planning of the PGM project. - Positive factor: Combined Proven and Probable reserve - Positive factor: Demonstrated economic viability - Positive factor: Significant contained metal Evidence · table > 2.96 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-47) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 0.08 - Grade Unit: % - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable reserve for copper, a valuable byproduct, adds to the overall project value. - Positive factor: Combined Proven and Probable reserve - Positive factor: Valuable byproduct Evidence · table > 0.08 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-48) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5cb3694b29c7b3d3f26 - Mining method: underground - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 246201879 - Grade: 0.17 - Grade Unit: % - Contained Metal: 728005 - Contained Unit: kg - Cutoff Grade: 2.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Combined Proven and Probable reserve for nickel, a valuable byproduct, adds to the overall project value. - Positive factor: Combined Proven and Probable reserve - Positive factor: Valuable byproduct Evidence · table > 0.17 Context: 246,201,879 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-52) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cc66cdc92ef1d329c721 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 5240000 - Grade: 1.1 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 1.10 Context: 5.24 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-53) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cc66cdc92ef1d329c721 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 5240000 - Grade: 2.06 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 2.06 Context: 5.24 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-54) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cc66cdc92ef1d329c721 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 5240000 - Grade: 0.78 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.78 Context: 5.24 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-55) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cc66cdc92ef1d329c721 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 5240000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.13 Context: 5.24 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-56) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cc66cdc92ef1d329c721 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 5240000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.07 Context: 5.24 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-57) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:e170e962f1f6beaf28cb - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12730000 - Grade: 1.41 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.41 Context: 12.73 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-58) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:e170e962f1f6beaf28cb - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12730000 - Grade: 2.42 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.42 Context: 12.73 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-59) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:e170e962f1f6beaf28cb - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12730000 - Grade: 0.93 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.93 Context: 12.73 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-60) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:e170e962f1f6beaf28cb - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12730000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.19 Context: 12.73 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-61) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:e170e962f1f6beaf28cb - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12730000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.09 Context: 12.73 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-62) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:221be12c59532c4960d7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 17580000 - Grade: 1.19 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.19 Context: 17.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-63) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:221be12c59532c4960d7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 17580000 - Grade: 2.02 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 2.02 Context: 17.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-64) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:221be12c59532c4960d7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 17580000 - Grade: 0.87 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.87 Context: 17.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-65) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:221be12c59532c4960d7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 17580000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.15 Context: 17.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-66) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:221be12c59532c4960d7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 17580000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.07 Context: 17.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-67) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0feba35772616933fdde - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 0 - Grade: 0 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-68) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0feba35772616933fdde - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 0 - Grade: 0 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-69) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0feba35772616933fdde - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 0 - Grade: 0 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-70) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0feba35772616933fdde - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 0 - Grade: 0 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-71) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0feba35772616933fdde - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 0 - Grade: 0 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-72) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d64e69d5e019a1594aec - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1890000 - Grade: 1.1 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.10 Context: 1.89 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-73) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d64e69d5e019a1594aec - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1890000 - Grade: 1.91 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.91 Context: 1.89 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-74) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d64e69d5e019a1594aec - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1890000 - Grade: 0.57 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.57 Context: 1.89 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-75) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d64e69d5e019a1594aec - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1890000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.17 Context: 1.89 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-76) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d64e69d5e019a1594aec - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1890000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.08 Context: 1.89 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-77) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:da26f74e82e8d37c9dd3 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 640000 - Grade: 0.99 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.99 Context: 0.64 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-78) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:da26f74e82e8d37c9dd3 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 640000 - Grade: 1.51 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.51 Context: 0.64 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-79) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:da26f74e82e8d37c9dd3 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 640000 - Grade: 0.36 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.36 Context: 0.64 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-80) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:da26f74e82e8d37c9dd3 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 640000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.17 Context: 0.64 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-81) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:da26f74e82e8d37c9dd3 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 640000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.07 Context: 0.64 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-82) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:5cf935bdddb48b4a8c52 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 14620000 - Grade: 1.37 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.37 Context: 14.62 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-83) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:5cf935bdddb48b4a8c52 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 14620000 - Grade: 2.35 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.35 Context: 14.62 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-84) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:5cf935bdddb48b4a8c52 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 14620000 - Grade: 0.88 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.88 Context: 14.62 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-85) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:5cf935bdddb48b4a8c52 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 14620000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.19 Context: 14.62 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-86) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:5cf935bdddb48b4a8c52 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 14620000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.09 Context: 14.62 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-87) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b357c913e29f1d37cb0f - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 18230000 - Grade: 1.18 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.18 Context: 18.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-88) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b357c913e29f1d37cb0f - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 18230000 - Grade: 2 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 2.00 Context: 18.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-89) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b357c913e29f1d37cb0f - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 18230000 - Grade: 0.85 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.85 Context: 18.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-90) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b357c913e29f1d37cb0f - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 18230000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.15 Context: 18.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-91) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b357c913e29f1d37cb0f - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 18230000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.07 Context: 18.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-92) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ab04515e767c3a5bebef - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 51600000 - Grade: 1.3 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 1.3 Context: 51.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-93) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ab04515e767c3a5bebef - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 51600000 - Grade: 19.5 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 19.5 Context: 51.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-94) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0165a6b0ee4c09bc8167 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 50700000 - Grade: 0.7 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.7 Context: 50.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-95) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0165a6b0ee4c09bc8167 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 50700000 - Grade: 19 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 19.0 Context: 50.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-96) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:792b4830d279504412a0 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 49200000 - Grade: 0.9 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.9 Context: 49.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-97) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:792b4830d279504412a0 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 49200000 - Grade: 20.9 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 20.9 Context: 49.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-98) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d6b3753f1378e4a241a6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 18600000 - Grade: 0.87 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.87 Context: 18.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-99) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d6b3753f1378e4a241a6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 18600000 - Grade: 2.1 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 2.10 Context: 18.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-100) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d6b3753f1378e4a241a6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 18600000 - Grade: 0.17 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.17 Context: 18.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-101) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d6b3753f1378e4a241a6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 18600000 - Grade: 0.11 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.11 Context: 18.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-102) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d6b3753f1378e4a241a6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 18600000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.21 Context: 18.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-103) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ed8cc585c90cdd1de402 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 43860000 - Grade: 0.91 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.91 Context: 43.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-104) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ed8cc585c90cdd1de402 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 43860000 - Grade: 2.16 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.16 Context: 43.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-105) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ed8cc585c90cdd1de402 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 43860000 - Grade: 0.16 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.16 Context: 43.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-106) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ed8cc585c90cdd1de402 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 43860000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.09 Context: 43.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-107) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ed8cc585c90cdd1de402 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 43860000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.20 Context: 43.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-108) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6ab287514a6397cc476e - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 62460000 - Grade: 0.9 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.90 Context: 62.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-109) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6ab287514a6397cc476e - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 62460000 - Grade: 2.14 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.14 Context: 62.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-110) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6ab287514a6397cc476e - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 62460000 - Grade: 0.16 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.16 Context: 62.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-111) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6ab287514a6397cc476e - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 62460000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.10 Context: 62.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-112) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6ab287514a6397cc476e - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 62460000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.20 Context: 62.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-113) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0cd16b81558708e09c5a - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8000000 - Grade: 0.78 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.78 Context: 8.00 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-114) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0cd16b81558708e09c5a - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8000000 - Grade: 1.9 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.90 Context: 8.00 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-115) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0cd16b81558708e09c5a - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8000000 - Grade: 0.15 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.15 Context: 8.00 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-116) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0cd16b81558708e09c5a - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8000000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.09 Context: 8.00 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-117) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:0cd16b81558708e09c5a - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8000000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.19 Context: 8.00 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-118) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:892d5d9dbbe157383192 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6520000 - Grade: 1 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 1.00 Context: 6.52 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-119) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:892d5d9dbbe157383192 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6520000 - Grade: 2.08 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 2.08 Context: 6.52 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-120) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:892d5d9dbbe157383192 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6520000 - Grade: 0.17 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.17 Context: 6.52 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-121) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:892d5d9dbbe157383192 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6520000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.10 Context: 6.52 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-122) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:892d5d9dbbe157383192 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6520000 - Grade: 0.23 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.23 Context: 6.52 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-123) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:077de555d02f17a8278d - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 17640000 - Grade: 1.05 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.05 Context: 17.64 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-124) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:077de555d02f17a8278d - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 17640000 - Grade: 2.03 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.03 Context: 17.64 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-125) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:077de555d02f17a8278d - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 17640000 - Grade: 0.18 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 17.64 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-126) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:077de555d02f17a8278d - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 17640000 - Grade: 0.24 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.24 Context: 17.64 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-127) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:077de555d02f17a8278d - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 17640000 - Grade: 0.24 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.24 Context: 17.64 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-128) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:83ad960712ce856667f6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 24160000 - Grade: 1.04 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.04 Context: 24.16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-129) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:83ad960712ce856667f6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 24160000 - Grade: 2.04 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.04 Context: 24.16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-130) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:83ad960712ce856667f6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 24160000 - Grade: 0.18 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 24.16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-131) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:83ad960712ce856667f6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 24160000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.20 Context: 24.16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-132) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:83ad960712ce856667f6 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 24160000 - Grade: 0.24 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.24 Context: 24.16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-133) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:38bc1c6ddb20a66a2439 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3260000 - Grade: 1.07 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.07 Context: 3.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-134) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:38bc1c6ddb20a66a2439 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3260000 - Grade: 2.14 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 2.14 Context: 3.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-135) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:38bc1c6ddb20a66a2439 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3260000 - Grade: 0.18 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.18 Context: 3.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-136) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:38bc1c6ddb20a66a2439 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3260000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.09 Context: 3.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-137) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:38bc1c6ddb20a66a2439 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3260000 - Grade: 0.22 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.22 Context: 3.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-138) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:a9a8fe15a75577d0d722 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6280000 - Grade: 1.06 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 1.06 Context: 6.28 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-139) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:a9a8fe15a75577d0d722 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6280000 - Grade: 2.35 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 2.35 Context: 6.28 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-140) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:a9a8fe15a75577d0d722 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6280000 - Grade: 0.18 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 6.28 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-141) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:a9a8fe15a75577d0d722 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6280000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.07 Context: 6.28 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-142) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:a9a8fe15a75577d0d722 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 6280000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.19 Context: 6.28 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-143) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:58744728f42114a7788f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12860000 - Grade: 0.95 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.95 Context: 12.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-144) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:58744728f42114a7788f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12860000 - Grade: 1.95 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.95 Context: 12.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-145) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:58744728f42114a7788f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12860000 - Grade: 0.14 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.14 Context: 12.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-146) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:58744728f42114a7788f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12860000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.07 Context: 12.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-147) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:58744728f42114a7788f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 12860000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.19 Context: 12.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-148) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:61f96b295ddc2fe008ac - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 19150000 - Grade: 0.99 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.99 Context: 19.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-149) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:61f96b295ddc2fe008ac - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 19150000 - Grade: 2.08 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 2.08 Context: 19.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-150) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:61f96b295ddc2fe008ac - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 19150000 - Grade: 0.15 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.15 Context: 19.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-151) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:61f96b295ddc2fe008ac - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 19150000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.07 Context: 19.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-152) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:61f96b295ddc2fe008ac - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 19150000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.19 Context: 19.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-153) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f228abba3d4bc1b98ead - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4100000 - Grade: 1.02 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.02 Context: 4.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-154) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f228abba3d4bc1b98ead - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4100000 - Grade: 2.06 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 2.06 Context: 4.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-155) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f228abba3d4bc1b98ead - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4100000 - Grade: 0.16 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.16 Context: 4.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-156) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f228abba3d4bc1b98ead - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4100000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.07 Context: 4.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-157) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f228abba3d4bc1b98ead - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4100000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.18 Context: 4.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-158) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:729a00c1597fd907a854 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 46670000 - Grade: 0.83 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.83 Context: 46.67 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-159) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:729a00c1597fd907a854 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 46670000 - Grade: 1.92 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 1.92 Context: 46.67 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-160) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:729a00c1597fd907a854 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 46670000 - Grade: 0.13 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.13 Context: 46.67 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-161) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:729a00c1597fd907a854 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 46670000 - Grade: 0.06 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.06 Context: 46.67 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-162) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:729a00c1597fd907a854 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 46670000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 46.67 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-163) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ec2eed3f9e7763a40a9f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 139630000 - Grade: 0.77 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.77 Context: 139.63 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-164) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ec2eed3f9e7763a40a9f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 139630000 - Grade: 1.78 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.78 Context: 139.63 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-165) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ec2eed3f9e7763a40a9f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 139630000 - Grade: 0.12 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.12 Context: 139.63 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-166) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ec2eed3f9e7763a40a9f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 139630000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.07 Context: 139.63 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-167) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:ec2eed3f9e7763a40a9f - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 139630000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 139.63 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-168) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6a8c27b923e1a1a8c0e9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 186300000 - Grade: 0.79 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.79 Context: 186.30 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-169) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6a8c27b923e1a1a8c0e9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 186300000 - Grade: 1.82 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.82 Context: 186.30 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-170) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6a8c27b923e1a1a8c0e9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 186300000 - Grade: 0.12 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.12 Context: 186.30 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-171) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6a8c27b923e1a1a8c0e9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 186300000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.07 Context: 186.30 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-172) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:6a8c27b923e1a1a8c0e9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 186300000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 186.30 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-173) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f91ee0f31f079b6e1a53 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 31580000 - Grade: 0.77 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.77 Context: 31.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-174) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f91ee0f31f079b6e1a53 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 31580000 - Grade: 1.66 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.66 Context: 31.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-175) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f91ee0f31f079b6e1a53 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 31580000 - Grade: 0.1 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.10 Context: 31.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-176) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f91ee0f31f079b6e1a53 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 31580000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.05 Context: 31.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-177) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:f91ee0f31f079b6e1a53 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 31580000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.17 Context: 31.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-178) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:697b6ff316f08a478c44 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 33110000 - Grade: 0.99 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.99 Context: 33.11 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-179) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:697b6ff316f08a478c44 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 33110000 - Grade: 1.86 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.86 Context: 33.11 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-180) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:697b6ff316f08a478c44 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 33110000 - Grade: 0.13 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.13 Context: 33.11 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-181) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:697b6ff316f08a478c44 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 33110000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.04 Context: 33.11 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-182) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:697b6ff316f08a478c44 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 33110000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.13 Context: 33.11 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-183) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:be18778dd7062dd99c3b - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 20310000 - Grade: 0.82 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.82 Context: 20.31 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-184) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:be18778dd7062dd99c3b - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 20310000 - Grade: 1.52 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.52 Context: 20.31 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-185) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:be18778dd7062dd99c3b - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 20310000 - Grade: 0.1 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.10 Context: 20.31 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-186) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:be18778dd7062dd99c3b - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 20310000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.04 Context: 20.31 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-187) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:be18778dd7062dd99c3b - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 20310000 - Grade: 0.12 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.12 Context: 20.31 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-188) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:12e11dd5e36e90f83c6c - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 0 - Grade: 0 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-189) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:12e11dd5e36e90f83c6c - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 0 - Grade: 0 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-190) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:12e11dd5e36e90f83c6c - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 0 - Grade: 0 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-191) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:12e11dd5e36e90f83c6c - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 0 - Grade: 0 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-192) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:12e11dd5e36e90f83c6c - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 0 - Grade: 0 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.00 Context: 0.00 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-193) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:202a331777dc2da523a9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4230000 - Grade: 0.76 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.76 Context: 4.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-194) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:202a331777dc2da523a9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4230000 - Grade: 1.85 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.85 Context: 4.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-195) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:202a331777dc2da523a9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4230000 - Grade: 0.15 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.15 Context: 4.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-196) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:202a331777dc2da523a9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4230000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.09 Context: 4.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-197) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:202a331777dc2da523a9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4230000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.19 Context: 4.23 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-198) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b7d92b646b78654f803a - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 78080000 - Grade: 0.87 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.87 Context: 78.08 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-199) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b7d92b646b78654f803a - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 78080000 - Grade: 2.01 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 2.01 Context: 78.08 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-200) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b7d92b646b78654f803a - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 78080000 - Grade: 0.15 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.15 Context: 78.08 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-201) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b7d92b646b78654f803a - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 78080000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.08 Context: 78.08 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-202) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:b7d92b646b78654f803a - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 78080000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 0.20 Context: 78.08 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-203) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:9609281fa48bcc3fe231 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 247100000 - Grade: 0.85 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.85 Context: 247.10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-204) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:9609281fa48bcc3fe231 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 247100000 - Grade: 1.88 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.88 Context: 247.10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-205) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:9609281fa48bcc3fe231 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 247100000 - Grade: 0.13 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.13 Context: 247.10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-206) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:9609281fa48bcc3fe231 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 247100000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.08 Context: 247.10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-207) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:9609281fa48bcc3fe231 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 247100000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.18 Context: 247.10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-208) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:68cb87f176e7e6738cd9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 325170000 - Grade: 0.86 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.86 Context: 325.17 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-209) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:68cb87f176e7e6738cd9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 325170000 - Grade: 1.92 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.92 Context: 325.17 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-210) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:68cb87f176e7e6738cd9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 325170000 - Grade: 0.14 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.14 Context: 325.17 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-211) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:68cb87f176e7e6738cd9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 325170000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.08 Context: 325.17 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-212) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:68cb87f176e7e6738cd9 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 325170000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 0.19 Context: 325.17 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-213) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:2dd5d1df89f1d248d9b2 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 71470000 - Grade: 0.81 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.81 Context: 71.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-214) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:2dd5d1df89f1d248d9b2 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 71470000 - Grade: 1.7 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.70 Context: 71.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-215) Waterberg Project · gold #### Identity - Project: Waterberg Project - Commodity: gold - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:2dd5d1df89f1d248d9b2 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 71470000 - Grade: 0.12 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.12 Context: 71.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-216) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:2dd5d1df89f1d248d9b2 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 71470000 - Grade: 0.06 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.06 Context: 71.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-217) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:2dd5d1df89f1d248d9b2 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 71470000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 0.15 Context: 71.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-218) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:934133ce313c41e8bc71 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 65300000 - Grade: 1.6 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 1.6 Context: 65.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-219) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:934133ce313c41e8bc71 - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 65300000 - Grade: 4.8 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 4.8 Context: 65.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-220) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:684a8a7a7e7fd4489a23 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 64599999.99999999 - Grade: 1.5 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 1.5 Context: 64.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-221) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:684a8a7a7e7fd4489a23 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 64599999.99999999 - Grade: 4.6 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 4.6 Context: 64.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-222) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5e1a3295298e6309059 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 63700000 - Grade: 1.5 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 1.5 Context: 63.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-223) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:c5e1a3295298e6309059 - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 63700000 - Grade: 4.3 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 4.3 Context: 63.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-224) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d08df11d542089f7570d - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 28300000 - Grade: 5.95 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 5.95 Context: 28.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-225) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:d08df11d542089f7570d - Mining method: underground - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 28300000 - Grade: 5.95 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Measured resource for platinum contributes significantly to the overall project, indicating high confidence in this portion of the resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence category - Positive factor: Significant contained metal Evidence · table > 5.95 Context: 28.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-226) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cbfdc35cac497590ede7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 29300000 - Grade: 5.83 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 5.83 Context: 29.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-227) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:cbfdc35cac497590ede7 - Mining method: underground - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 29300000 - Grade: 5.83 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Indicated resource for platinum provides good confidence for future economic studies. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category - Positive factor: Significant contained metal Evidence · table > 5.83 Context: 29.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-228) Waterberg Project · platinum #### Identity - Project: Waterberg Project - Commodity: platinum - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3563f6deb5fb7783a2bc - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 30000000 - Grade: 8.95 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 8.95 Context: 30.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-resource-facts-229) Waterberg Project · palladium #### Identity - Project: Waterberg Project - Commodity: palladium - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Michael Murphy, Charles Muller, Gordon Cunningham - Resource group id: resource:3563f6deb5fb7783a2bc - Mining method: underground - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 30000000 - Grade: 8.95 - Grade Unit: g/t - Cutoff Grade: 2 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2024-08-31 #### Lab - Laboratory: Set Point Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Inferred resource for platinum adds to the overall resource base but has lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Negative factor: Lower confidence category Evidence · table > 8.95 Context: 30.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (3) ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-metallurgical-facts-49) Waterberg Project · 4e #### Identity - Project: Waterberg Project - Commodity: 4e - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard South African flotation MF-2 \(Mill-Float-Mill-Float\) circuit #### Recovery - Recovery: 78 % - Recovery Basis: actual\_test - Head Grade: 2.96 - Head Grade Unit: g/t - Conc. Grade: 80 - Conc. Grade Unit: g/t #### Lab - Laboratory: XPS Expert Process Solutions and Set Point Laboratories - Consultant: DRA Projects SA \(Pty\) Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Estimated 4E recovery of 78% using a standard flotation circuit is a positive indicator for the project's metallurgical performance. - Positive factor: Good recovery for PGM flotation - Positive factor: Standard processing route Evidence · text > an average 4E recovery of 78% is estimated #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-metallurgical-facts-50) Waterberg Project · copper #### Identity - Project: Waterberg Project - Commodity: copper - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard South African flotation MF-2 \(Mill-Float-Mill-Float\) circuit #### Recovery - Recovery: 81 % - Recovery Basis: actual\_test - Head Grade: 0.08 - Head Grade Unit: % #### Lab - Laboratory: XPS Expert Process Solutions and Set Point Laboratories - Consultant: DRA Projects SA \(Pty\) Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Forecasted copper recovery of 81% is strong and contributes positively to byproduct credits. - Positive factor: Strong recovery for copper - Positive factor: Standard processing route Evidence · text > Cu recoveries are forecast at 81% #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/platinum-group-metals-ltd-announces-positive-independent-definitive-feasibility--8b5311fb-1d1b-4b5b-aaaf-8de3782773db#fact-metallurgical-facts-51) Waterberg Project · nickel #### Identity - Project: Waterberg Project - Commodity: nickel - Region: south\_africa - Reported Region: South Africa - Ticker: PTM #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard South African flotation MF-2 \(Mill-Float-Mill-Float\) circuit #### Recovery - Recovery: 44 % - Recovery Basis: actual\_test - Head Grade: 0.17 - Head Grade Unit: % #### Lab - Laboratory: XPS Expert Process Solutions and Set Point Laboratories - Consultant: DRA Projects SA \(Pty\) Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-16T00:00:00.000Z Reasoning: Modelled nickel recovery of 44% is moderate but still contributes to byproduct credits. - Positive factor: Adds to byproduct credits - Negative factor: Moderate recovery for nickel Evidence · text > Ni recovery is modelled at 44% #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 44% is below the weak band \(75%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.