Beartooth Platinum Corporation

Beartooth Platinum Corporation

March 22, 2005 07:00 ET

Beartooth Appoints New President And CEO To Lead Major Exploration Program For Platinum/Palladium At Stillwater Complex


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BEARTOOTH PLATINUM CORPORATION

TSX VENTURE SYMBOL: BTP

MARCH 22, 2005 - 07:00 ET

Beartooth Appoints New President And CEO To Lead Major
Exploration Program For Platinum/Palladium At
Stillwater Complex

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - BEARTOOTH PLATINUM
CORPORATION (TSX VENTURE:BTP) is pleased to announce the appointment of
Michael D. Johnson, P. Geo., to the position of President and CEO of the
Company. Mr. Johnson will also join the Board of Directors of the
Company. Current President and CEO, Stan Bharti will become Beartooth's
Chairman and the current Chairman, Gerald McCarvill will become
Vice-Chairman.

Michael D. Johnson has over thirty years in exploration and mining. The
last fifteen years have been in executive and senior management
positions, evaluating, developing, constructing and mining mineral
properties located in North, Central and South America and Australia.
Most recently, Mr. Johnson was the principal of M.D. Johnson &
Associates and in that capacity, he and his team have been responsible
for the evaluation and development of numerous underground and open pit
mines across the USA, Mexico and Brazil. Mike holds a B.Sc. degree from
the University of London, England. Mr. Johnson also held various project
and senior geologist postings with mid- to large cap companies mostly in
the USA. His commodity expertise includes base and precious metals,
porphyry copper and uranium.

"We are very excited about Mr. Johnson's appointment" stated Stan
Bharti, former President and CEO. "His experience and background will
prove to be a tremendous asset as the Company moves forward in
developing its properties, particularly at the Stillwater Complex, where
the new Management Team will continue its aggressive exploration program
to outline higher grade Platinum Group Elements (PGE's). In addition,
Beartooth is also pleased to announce the hiring of Mr. Jonathan
Findlay, P. Geo., a specialist in PGE's, as Senior Geologist for the
Company."

Members of the new Management Team are:

Michael D. Johnson, P. Geo., President and CEO

Jean Lafleur, P. Geo., Vice-President Exploration

David Meyer, Vice-President Corporate Development

Dr. Jonathan Findlay, P. Geo., Senior Project Geologist

John Andrews, Technical Advisor Corporate Affairs

Dr. Reid Keays, Technical Advisor on PGE's

John Buckle, P. Geo., Technical Advisor Geophysics

Beartooth recently initiated a major program (refer to the Press Release
dated January 26, 2005) to identify of one or more zones with higher
grade PGE's. The work includes a compilation and synthesis of the
extensive historical database (1 metric tonne of documents) to
prioritize the approximately 90 sectors already permitted for
exploration work and also to generate new targets. A comprehensive
geochemical sampling program will be implemented this summer to
determine the orientation and extent of existing and new PGE's bearing
horizons, as well as corroborating the projected trends from the
airborne magnetic-electromagnetic geophysical interpretation. This will
ultimately lead to diamond drilling in the third quarter 2005. Combining
geology and geophysics has shed new light on the projected trends of
known PGE's targets, which have kilometric extents. This adds new
potential for Beartooth's Stillwater property, which according to the
Management Team could eventually translate into significant Mineral
Resources.

Stillwater Complex - A PGE's Enriched Complex

Beartooth controls 809 unpatented lode mineral claims over the exposed
50 kilometre strike length of the Stillwater Complex. The Complex hosts
the largest known resource of PGE's in North America, and includes the
Stillwater Mining Company (SMC), which operates two mines in a
mineralized rock unit known as the J-M Reef (the Stillwater and East
Boulder mines). SMC reports proven and probable reserves at the
Stillwater Mine of 15.9 million tonnes grading 22.63 g/t of combined
platinum-palladium, with a platinum to palladium ratio of 3.4:1, and
proven and probable reserves at the Boulder East Mine of 20.6 million
tonnes grading 18.17 g/t of combined platinum-palladium, with a platinum
to palladium ratio of 3.7:1 (source: Stillwater Mining Company Website).
Beartooth's mineral claims are contiguous with the SMC Property.

Beartooth's Stillwater Mineral Claims and Diamond Drilling Campaign in
2004

Previous work by Beartooth has defined a number of PGE's targets that
lie within its claim group, particularly within at least one "reef"
(Picket Pin) similar to the J-M Reef, and a 2,000 metre thick ultramafic
unit that hosts numerous chromite horizons and nickel-copper sulphide
mineralization (Camp zone), both of which carry PGE's.

There are two major chromite units enriched in PGE's on Beartooth's
ground in the Iron Mountain area. Historical drilling by Beartooth
returned significant values of 1.24 grams platinum per tonne (g Pt/t)
and 2.75 grams palladium per tonne (g Pd/t) over 2.8 metres, and 1.36 g
Pt/t and 2.57 g Pd/t over 7.1 metres from chromite units (refer to Press
Release dated January 26, 2005). The main mineralized sector at Iron
Mountain is the nickel-copper Camp Zone, containing anomalous PGE's. The
Camp Zone hosts a historic mineral inventory estimated by AMAX (prior to
NI43-101 standards) at 5.45 million tonnes grading 0.43% nickel and
0.25% copper. This historic mineral inventory was previously reported by
Beartooth in press releases dated October 12, 2004 and November 19,
2004). Limited diamond drilling (4 holes for 500 metres) by Beartooth's
in 2004 (refer to the Press Release dated January 26, 2005) on the Camp
Zone and one other Iron Mountain target identified a number of anomalous
intervals for future testing as follows:

- One hole at the Iron Mountain grid (DDH-IMC04-01) returned 0.50 g Pt/t
and 1.42 g Pd/t over 3.1 metre

- Two holes at the Camp Zone grid intersected:

i) 1.39 g Pt/t over 1.1 metres, 0.25% Cu and 0.35% Ni over 21.2 metres
(including a 0.5 metre interval with 1% Ni and an additional 0.9 metre
interval with 0.70% Cu) from DDH-CZ04-01, and

ii) 1.51 g Pt/t and 0.52 grams gold per tonne over 0.7 metres, 0.51% Cu
and 0.40% Ni over 3.9 metres (including a 0.6 metre interval containing
1% Cu and 0.54% Ni), and finally, 1.80 g Pt/t and 0.51 g Au/t gold over
1.0 metres from DDH-CZ04-02.

Mr. Jean Lafleur, P. Geo., Beartooth's Vice-President Exploration, is
the Qualified Person (under NI 43-101 guidelines) responsible for
reviewing the technical information in the press release.

Beartooth Platinum - Exploring to Develop the Next Platinum-Palladium
Mine

Beartooth Platinum Corporation is a Platinum Group Metals Company that
has secured a large land position with advanced exploration targets in
the Stillwater Complex of Montana, U.S.A., and is well positioned for
responsible mineral development. The Company also holds a very promising
gold exploration project in Idaho, U.S.A., which is joint ventured with
Valencia Ventures Inc. Additional information about the Company and its
properties is available on the Company's website at
www.beartoothplatinum.com.

In other matters, the Company has entered into an agreement to settle an
outstanding note owed to Tomasovich 1999 Revocable Trust. The amount of
the note is US$40,000 with US$4,458 owed in interest. Under the terms of
the agreement, which remain subject to regulatory approval, the Company
would issue 445,480 common shares to Tomasovich 1999 Revocable Trust as
settlement for the entire amount owing, being US$44,458 which represents
a conversion rate of debt for shares at US$0.10 per share.

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 staements are not guarantees of future performance and that actual
developments or results may vary materially from those in these
"forward-looking statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Beartooth Platinum Corporation
    David Meyer
    Vice President Corporate Development
    (416) 861-5891
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release."