Platinum Group Metals Ltd.: $1.4 Million Received From Warrant Exercises

VANCOUVER, BRITISH COLUMBIA AND JOHANNESBURG, SOUTH AFRICA -- (MARKET WIRE) -- 03/07/08 -- Platinum Group Metals Ltd. (TSX: PTM)(AMEX: PLG) ("Platinum Group") announced today that it received a total

Following the exercise of the warrants Platinum Group now has
62,452,747 shares issued and outstanding and 66,436,622 shares fully
diluted. For full details of the Company's share structure:
http://www.platinumgroupmetals.net/main/?investor_share_structure.

About Platinum Group Metals Ltd.

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

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

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, President and Director

The warrants and the underlying common shares have not been and will
not be registered under the U.S. Securities Act of 1933, as amended,
or any state securities laws, and may not be offered or sold in the
United States or to a U.S. person absent such registration or
available exemptions therefrom.

Certain of the statements made herein, including statements regarding
the Company's plans and the adequacy of its cash reserves, constitute
forward-looking statements. Forward-looking statements are based on a
number of estimates and assumptions that are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward-looking
statements. Such factors include, among others: metals price
volatility; additional fundraising requirements; defective title to
mineral claims or property; discrepancies between actual and
estimated reserves and resources, between actual and estimated
development and operating costs, between actual and estimated
metallurgical recoveries and between estimated and actual production;
changes in national and local government legislation, taxation,
controls, regulations and political or economic developments in
Canada, South Africa or other countries in which the Company does or
may carry out business in the future; success of exploration
activities and permitting time lines; the speculative nature of
mineral exploration, development and mining, including the risks of
obtaining necessary licenses and permits; exploration, development
and mining risks, including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, mine
collapses, cave-ins or flooding (and the risk of inadequate insurance
or inability to obtain insurance, to cover these risks), as well as
the factors described or referred to in the section entitled "Risk
Factors" in the Company's Annual Information Form for the year ended
August 31, 2007 which is available on SEDAR at www.sedar.com, and is
included as part of the Company's Form 40-F annual report filed with
the SEC at www.sec.gov. You are advised to review these risk factors,
and not to place undue reliance on forward-looking statements. The
Company undertakes no obligation to update publicly or release any
revisions to forward-looking statements to reflect events or
circumstances after the date of this presentation or to reflect the
occurrence of unanticipated events.

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

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

Platinum Group Metals Ltd., Vancouver
John Foulkes
Manager Corporate Development
(604) 899-5450 or Toll Free: 1-866-899-5450
(604) 484-4710 (FAX)
Website: www.platinumgroupmetals.net

Roth Investor Relations, NJ
Larry Roth
(732) 792-2200

2008-03-07 19:25:10 0307574 MARKETWIRE