Platinum Group Metals Ltd. press release

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Eyeing Response to U.S. Recommendation to Impose Sanctions on Russian Titanium, Palladium

2024-10-28

TSX - Toronto Stock Exchange · Platinum · Palladium · Rhodium · Gold · Copper · Nickel · Canada

The Biden administration aims to weaken Russia’s financial stability through sanctions, limiting its ability to sustain its war efforts in Ukraine. Imposing sanctions on Russian titanium and palladium would create several strategic advantages for the U.S. Sanctions on Russian palladium and titanium could be especially advantageous for existing producers and emerging palladium mining projects outside of Russia.

The United States recently called on its Group of Seven (“G7”) allies to consider imposing sanctions on Russian titanium and palladium supplies, a move that, if approved, could have a profound impact on global metals markets as well as on Russia’s economy (https://ibn.fm/Q9sHS). Companies operating in the metals sector, including Platinum Group Metals (NYSE American: PLG) (TSX: PTM), majority owner and operator of the Waterberg PGM Project in South Africa, are watching closely to see what action the G7 might take.

“Biden administration officials floated the [sanction] possibility during a meeting of G7 deputy finance ministers on Tuesday in Washington,” a Bloomberg article reported. “Finance officials from around the world have...

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NOTE TO INVESTORS:The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG

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