|Platinum Group Metals Ltd. | 800
      - 409 Granville Street,Vancouver BC, V6C 1T2
      T: (604) 899-5450 F: (604) 484-4710
      E:
      info@platinumgroupmetals.net W: www.platinumgroupmetals.net
|-------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------

April 21, 2003



OFFICE SERVICES TERM SHEET

between

PLATINUM GROUP METALS LTD. (the
"Company" or PTM) and

MAG SILVER CORP. ("MAG")





PTM to Provide to MAG

- Office space
    - approximately 250 square feet;
- Storage space, shelving and filing;
- Office furniture to include but not limited to: desk, desk chair, small board table, 4 guest chairs & cabinet;
- Access to a secure server network for computer needs;
- Access to common area and kitchen;
- Use of printers and photocopier;
- Access to a boardroom;
- Secretarial services to include book-keeping and general administration



Compensation to PTM

RENT
- $1,500 which includes:

- approximately 250 sq ft corner office furnished (R. Michael Jones' former office)
- kitchen and common area
- computer network space and secure server
- printers, photocopier & fax machine
- storage and filing space as needed
- office furniture (desk, chairs, cabinet)



ADMINISTRATION
-$200/day, ~7.5 days a month (one person's time) = $1,500 includes:

- manning the phones
- general correspondence
- typing/word processing
- organization and filing



FINANCIAL ACCOUNTING SERVICES
- $4,000/month includes:

Bookkeeping, Accounting and Accounts Payable Administration

- payment and maintenance of corporate accounts payable
- printing cheques
- maintaining general ledger
- data entry and bookkeeping



.../2

---

Preparation of Financial Statements

- services of qualified accountant for preparation of a draft of financial statements for management approval on a quarterly and annual basis.
- review of management's draft of Discussion and Analysis on a quarterly and annual basis.



REGULATORY FILING SERVICES
- $1,000/month includes:

- assistance with filing statements
- news and material change reports on SEDAR and with the Exchange and Commissions

*outside costs in addition to this



TOTAL RETAINER CHARGE = $8,000



Additional Costs

UTILITIES and GENERAL OFFICE EXPENSE
- per usage, includes:

- phone line (one with a roll over lines and voice messaging) and long distance
- stationary (individual items purchased by MAG and stored accordingly, larger quantity items i.e. paper, will be split based on percentage of users)



OVERHEAD CHARGE
- 5% on top of monthly invoice based on:

- monitoring inventory and billing for whole office items
- maintenance of work environment
- coordination of shared staffing/associates



Duration, Termination and Adjustments

The initial service for April will include Rent and Administration for $2,000. May and June will be discounted $1,000 from the Financial Accounting Services for a total of $7,000. As of July 1, 2003 the agreement fee will be $8,000 per month.

This arrangement will endure on a month-to-month basis. If time or charges are found to be inequitable to either party, they will negotiate amendments in good faith. MAG is not authorized to order or authorize expenditures in PTM's name for PTM to bill later.



In the event that either PTM or MAG wishes to terminate the arrangement, 3-month notice must be submitted to the other party in writing.





Agreed and accepted this 2nd day, May 2003.



Platinum Group Metals Ltd.

MAG Silver Corp.



/s/ R. Michael Jones

/s/ George Young

________________________________                               
________________________________

R. Michael Jones

George Young

President

President





|Platinum Group Metals
Ltd
      800
      - 409 Granville Street, Vancouver BC, V6C 1T2 | 2 of 2
|--------------------------------------------------------------------------------------- | ------

---

|Platinum
      Group Metals Ltd. | 800
      - 409 Granville Street,Vancouver BC, V6C 1T2
      T:
      (604) 899-5450 F: (604) 484-4710
      E:
      info@platinumgroupmetals.net W: www.platinumgroupmetals.net
|-------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



August
12, 2003



AMMENDED

OFFICE
SERVICES TERM SHEET

between

PLATINUM
GROUP METALS LTD. (the "Company" or PTM) and

MAG
SILVER CORP. ("MAG")





PTM
to Provide to MAG

- Office
    space - approximately 250 square feet;
- Storage
    space, shelving and filing;
- Office
    furniture to include but not limited to: desk, desk chair, small board
    table, 4 guest chairs & cabinet;
- Access
    to a secure server network for computer needs;
- Access
    to common area and kitchen;
- Use
    of printers and photocopier;
- Access
    to a boardroom;
- Secretarial
    services to include book-keeping and general administration



Compensation
to PTM

RENT
- $1,500 which includes:

- approximately
    250 sq ft corner office furnished (R. Michael Jones' former office)
- kitchen
    and common area
- computer
    network space and secure server
- printers,
    photocopier & fax machine
- storage
    and filing space as needed
- office
    furniture (desk, chairs, cabinet)



ADMINISTRATION
-$200/day, ~17.5 days a month (one person's time) = $3,500 includes:

- manning
    the phones
- general
    correspondence
- typing/word
    processing
- organization
    and filing



FINANCIAL
ACCOUNTING SERVICES - $5,000/month includes:

Bookkeeping,
Accounting and Accounts Payable Administration

- payment
    and maintenance of corporate accounts payable
- printing
    cheques
- maintaining
    general ledger
- data
    entry and bookkeeping



.../2



---

Preparation
of Financial Statements

- services
    of qualified accountant for preparation of a draft of financial statements
    for management approval on a quarterly and annual basis.
- review
    of management's draft of Discussion and Analysis on a quarterly and annual
    basis.



REGULATORY
FILING SERVICES - $2,000/month includes:

- assistance
    with filing statements
- news
    and material change reports on SEDAR and with the Exchange and Commissions

*outside
costs in addition to this



TOTAL
RETAINER CHARGE = $12,000



Additional
Costs

UTILITIES
and GENERAL OFFICE EXPENSE - per usage, includes:

- phone
    line (one with a roll over lines and voice messaging) and long distance
- stationary
    (individual items purchased by MAG and stored accordingly, larger quantity
    items i.e. paper, will be split based on percentage of users)



OVERHEAD
CHARGE - 5% on top of monthly invoice based on:

- monitoring
    inventory and billing for whole office items
- maintenance
    of work environment
- coordination
    of shared staffing/associates



Duration,
Termination and Adjustments

This
arrangement will endure on a month-to-month basis. If time or charges are found
to be inequitable to either party, they will negotiate amendments in good faith.
MAG is not authorized to order or authorize expenditures in PTM's name for PTM
to bill later.



In
the event that either PTM or MAG wishes to terminate the arrangement, 3-month
notice must be submitted to the other party in writing.





Agreed
and accepted this 1st day, august 2003.





Platinum
Group Metals Ltd.

MAG
Silver Corp.



/s/
R. Michael Jones

/s/
George Young

________________________________                               
________________________________

R.
Michael Jones

George
Young

President

President





|Platinum
      Group Metals Ltd
      800
      - 409 Granville Street, Vancouver BC, V6C 1T2 | 2 of 2
|--------------------------------------------------------------------------------------------- | ------