Beartooth Platinum Corporation
TSX VENTURE : BTP

Beartooth Platinum Corporation

May 08, 2007 08:00 ET

Beartooth Platinum Closes $3 Million Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - May 8, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. WIRE SERVICES

BEARTOOTH PLATINUM CORPORATION (TSX VENTURE:BTP) is pleased to announce that it has completed its private placement financing in full. A total of 27,272,727 Units were issued pursuant to the financing for gross proceeds of $3 million.

Each Unit, which consisted of one common share and one common share purchase warrant ("Warrant"), was sold at a price of $0.11. Each Warrant entitles the holder to acquire one common share at a price of $0.15 per share until May 7, 2009. Each of the common shares, the Warrants and the shares issued upon the exercise of the Warrants will be subject to a hold period that will expire on September 8, 2007.

The proceeds from the private placement will be used by the Company for exploration and development of its properties as well as for general corporate purposes. The Company paid various finder's fees in connection with the placement of portions of the financing.

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.

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Statements in this release that are not historical facts are "forward-looking information" within the meaning of applicable securities law. Readers are cautioned that any such statements, including statements regarding the use of proceeds, are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking information". Investors are cautioned not to put undue reliance on "forward-looking information".

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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