The Company has been informed by its joint venture partner, FACOR, that the
Indian federal authorities believe that the Boula property lies within a
designated wildlife zone and that they have therefore requested termination of
any mining activities at the mine site. FACOR is disputing this assertion.
Since PMCI has not yet commenced mining for Platinum Group Metals at Boula, this
decision has not had any impact on its current operations.  FACOR has requested
the authorities to initiate a joint survey. Furthermore, the matter is being
reviewed in the Civil Court which is allowing FACOR to continue operations until
the Court gives further orders.

Further information will be provided to shareholders in due course.

Enquiries:

PMCI:  Charles Zorab   +44 (0) 20 7340 0970

W H Ireland:  James Joyce    +44 (0) 20 7220 1698
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