Beartooth Platinum Corporation
TSX VENTURE : BTP

Beartooth Platinum Corporation

June 16, 2005 16:22 ET

Beartooth Closes $1 Million Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - June 16, 2005) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES

BEARTOOTH PLATINUM CORPORATION (TSX VENTURE:BTP) is pleased to announce that has completed a private placement financing. A total of 10,550,000 Units were issued pursuant to the financing for gross proceeds of $1,055,000.

Each Unit consists of one Common Share and one Common Share purchase warrant ("Warrant") at a price of $0.10 per Unit. Each Warrant entitles the holder to acquire one Common Share, exercisable at a price of $0.10 per share until June 16, 2007. Each of Common Shares and the shares issued upon the exercise of the Warrants will be subject to a hold period that will expire on October 17, 2005.

The proceeds will be used by the Company for exploration purposes on its properties as well as for general corporate purposes.

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.

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