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Rule 13a-14(a) Certification

I, R.
Michael Jones, certify that:

1.      I have reviewed this annual report on Form 40-F
of Platinum Group Metals Ltd.;

2.      Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;

3.     
Based on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the issuer as of, and for,
the periods presented in this report;

4.      The issuers
other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f))for the issuer and have:

(a)      Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the issuer, including its consolidated subsidiaries, is
made known to us by others within those entities, particularly during the period
in which this report is being prepared;

(b)      Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles;

(c)      Evaluated the
effectiveness of the issuers disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report
based on such evaluation; and

(d)      Disclosed in
this report any change in the issuers internal control over financial reporting
that occurred during the period covered by the annual report that has materially
affected, or is reasonably likely to materially affect, the issuers internal
control over financial reporting; and

5.      The issuers other certifying
officer and I have disclosed, based on our most recent evaluation of internal
control over financial reporting, to the issuers auditors and the audit
committee of the issuers board of directors (or persons performing the
equivalent functions):

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(a)      All significant
deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely affect
the issuers ability to record, process, summarize and report financial
information; and

(b)      Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the issuers internal control over financial reporting.

Date: November 26, 2013

| | /s/R. MICHAEL JONES                            
| | -----------------------------------------------
| | R. Michael Jones                               
| | President, Chief Executive Officer and Director

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