Beartooth Platinum Corporation
TSX VENTURE : BTP

Beartooth Platinum Corporation

June 07, 2007 08:45 ET

Beartooth Platinum Corporation Announces Joint Venture with Premium Exploration Inc. on Stillwater Claims

TORONTO, ONTARIO--(Marketwire - June 7, 2007) - Beartooth Platinum Corporation (TSX VENTURE:BTP) is pleased to announce the signing of a joint venture agreement with Premium Exploration Inc. (TSX VENTURE:PEM) covering mining claims owned by Premium on the Stillwater Complex, Montana, USA. Under the terms of the agreement, Beartooth will acquire a 50% interest in Premium's Chrome Mountain property by incurring aggregate exploration expenditures of $3,000,000.00 over a three-year period that commenced with the signing of the Beartooth-Premium joint venture agreement on May 11th, 2007. Beartooth may increase their interest to 80% in the Chrome Mountain property by incurring aggregate exploration expenditures of Canadian $5,000,000.00 by January 1, 2011. At the conclusion of the five year vesting period, Premium shall retain a 20% carried interest in the property, and a 1% NSR (Net Smelter Royalty). The agreement specifically excludes exploration of Gold targets associated with the Pine Claim Shear Zone.

The new joint venture agreement follows the successful completion of the 2006 exploration program undertaken on the Chrome Mountain property under the Beartooth-Premium strategic exploration alliance announced in October of 2006 (please visit www.beartoothplatinum.com for details). The 2006 work documented a major Copper-Nickel-Platinum Group Metals (PGM) anomaly in soil samples above the basal part of the Stillwater Complex. Drilling by Beartooth in 2006 confirmed that this soil anomaly is associated with PGM mineralization in the B-Chromitite layer of the Complex. Results of the 2006 drilling program included intersections of up to 21.7 g/t Gold+Platinum+Palladium+Rhodium over 0.55 meters.

Michael D. Johnson, P.Geo, President and CEO, commented "This agreement is an important step in the exploration and development of the B-Chromitite PGM zone. The agreement increases the total strike length of the prospective horizon available for exploration by Beartooth to 20 kilometers, of which 15 kilometers has now been covered by soil geochemical surveys. The resultant soil anomaly is clearly reflective of continuous bedrock PGM mineralization, which we believe is associated with the B Chromitite. We are extremely excited by the results of last year's work, and we look forward to this year's drilling campaign where we will test this high quality target along much of its strike length and which we expect to commence at the end of June. Beartooth anticipates 20,000 feet of drilling which is double that accomplished in 2006."

Please click the link attached to view details on the joint venture property

http://www.ccnmatthews.com/docs/beartooth%20map.pdf

Technical information in this press release has been prepared and reviewed by Mr. Michael D. Johnson, P.Geo, a qualified person under National Instrument 43-101.

About Beartooth Platinum Corporation

Beartooth controls 872 unpatented lode mineral claims over the exposed 50-kilometer strike length of the Stillwater Complex, North America's largest known resource of PGM, where there are two operating mines of the Stillwater Mining Company (SMC) from the J-M Reef. Beartooth's mineral claims are contiguous with these significant resource properties.

Additional information about the Company and its properties is available on the Company's website at www.beartoothplatinum.com.

If you would like to receive press releases via email please contact Catarina@chfir.com.

Please specify "Beartooth press releases" in the subject line.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

Contact Information