Beartooth Platinum Corporation
TSX VENTURE : BTP

Beartooth Platinum Corporation

October 16, 2006 08:00 ET

Beartooth Platinum Corporation Announces Completion of Field Work Portion of 2006 Program at Stillwater Property

TORONTO, ONTARIO--(CCNMatthews - Oct. 16, 2006) - Beartooth Platinum Corporation (TSX VENTURE:BTP) has completed their 2006 field season with the onset of winter into their Stillwater project area in South Central Montana.

The 2006 field season which started in mid-June, consisted of geophysical surveys, soil geochemistry, geologic mapping and drilling. The program was designed to dramatically add to the understanding of the Platinum Group Metal (PGM) mineralization of the B Chromitite Reef and to define the full extent of the B Chromitite reef on ground controlled by BTP.

Consequently, during the summer, BTP collected approximately 275 line kilometers of ground magnetic geophysical data; 9,312 soil samples on 25 meter spacing, providing approximately 233 line kilometers of coverage; and followed the geophysical and soil sampling crews with detailed geologic mapping. These programs have significantly extended the previously know extent of the B Chromitite. Finally, 10,071 feet was drilled in 11 holes, to dissect the anomalous zone of PGM's associated with the surface exposure of the B Chromitite.

Assay results are arriving slowly and intermittently. The next six to eight weeks will be dedicated to receiving the remaining assays and compiling the data into the Arc View ™ data base. At that point we will be ready to plan the 2007 field program.

Mr. Michael D. Johnson, President & CEO of Beartooth Platinum Corporation noted "the more exploration we do, the more we understand the layered igneous complex at Stillwater and the more similarities we see to the Bushveld complex in South Africa."

The Bushveld contains two reefs, each about 1 meter wide, the Merensky and the UG2. These reefs are in the form of pancakes approximately 350 kilometers in diameter and separated vertically by just a few hundred meters.

The Stillwater Complex in Montana has a similar geologic history, except for a younger granitic intrusion which has steeply tilted the original pancake shaped reefs to the northeast. At the Stillwater Complex, the reefs are represented by the JM reef, which extends for at least 26 miles and is currently being mined by Stillwater Mining Company (SMC) at a annual rate of 600,000 ounces of PGM's; and the B Chromitite reef. The B Chromitite reef occurs both on BTP - controlled and Premium Exploration ground. BTP recently announced a Strategic Alliance with Premium to continue exploration on the Premium property. This enables BTP to control a similar strike length to SMC.

The major difference between the Bushveld and Stillwater reefs is grade. In the Bushveld, both the Merensky and UG2 reefs average about 4 to 7 g/t PGM. At Stillwater, the JM reef averages 20 to 22 g/t PGM. BTP has collected similar grades from surface outcrop and expects a similar tenor to the mineralization at depth.

About Beartooth Platinum Corporation

Beartooth Platinum Corporation controls 872 unpatented lode mineral claims over the exposed 50 kilometer strike length of the Stillwater Complex, North America's largest known resource of PGE's where currently two mines are being operated by the Stillwater Mining Company (SMC) located on 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 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."

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