Beartooth Platinum Corporation

Beartooth Platinum Corporation

January 13, 2006 08:00 ET

Beartooth Platinum Corporation Announces Option Agreement On South African Platinum Property

TORONTO, ONTARIO--(CCNMatthews - Jan. 13, 2006) -

Conference Call Scheduled for January 17, 2006

Beartooth Platinum Corporation (TSX VENTURE:BTP) announced today that the Company has signed an option agreement to acquire a 70% interest in Desert Charm Trading 189 (Pty) Ltd. Desert Charm owns and controls approximately 27,000 hectares along a potential platinum reef, immediately to the west of Lonmin's Limpopo Division, in the Limpopo region of South Africa. (A map of the project area is included in this press release and also located on the Beartooth website: Desert Charm's property could contain up to 10 Kilometers of both the Merensky and UG2 Reefs, the two primary platinum and palladium producing reefs in South Africa.

Preliminary geophysical interpretative data indicates that a magnetite bearing horizon, associated with the Bushveld Complex, which contains both the Merensky and UG2 Reefs, is present. In addition, historic drilling of the Limpopo property, indicate reef bearing horizons in drill holes located within 150 meters of the Desert Charm Property. Lonmin's Limpopo Division consists of four project areas: Voorspoed, Doornvlei, Zebediela and Kafferskrall East. Lonmin is expanding production at the Voorspoed Operation to 75,000 ounces of platinum per annum by 2007. Lonmin is also conducting a feasilibility on the Doornvlei Property.

Beartooth has paid Desert Charm US$50,000 for a 90 day, exclusive, due-diligence period. If the due diligence is successful, Beartooth will pay Desert Charm US$950,000 and will enter into a formal joint-venture agreement with Desert Charm for a 70% interest. Beartooth will then undertake to fund up to US$5 million over a three year period to explore and develop the joint-venture property.

During the due diligence period, Beartooth will drill to intercept the potential on-strike continuation of the Bushveld Merensky and UG2 mineralization. A drill rig has been mobilized to the site and drilling is expected to commence next week. In this area, the Bushveld, Merensky and UG2 Reefs are covered with up to 500 meters of younger basalts. It is anticipated that we should be through this basalt unit by the end of January.

Michael D. Johnson, Beartooth's President and CEO, stated: "This transaction has the potential to significantly increase Beartooth's portfolio of world-class platinum group metal exploration projects and expand the Company's project development efforts into the prolific Bushveld Complex in South Africa. In addition to our exciting property in the Stillwater Complex in Montana, USA, the acquisition of Desert Charm has the potential to make Beartooth into a world class PGM company."

Corporate Update Conference Call

Michael D. Johnson will host a conference call on Tuesday, 17 January, 2006, at 11:00 AM Eastern Standard Time, to discuss both the South African and Stillwater projects and answer any questions.

Live Conference Call Information:

Date: Tuesday, 17 January, 2006
Time: 11:00 AM Eastern Standard Time
Local Callers Tel.: (416) 695-9753
North American Callers: 1-888-789-0150
International Callers: (416) 695-9753

About Beartooth Platinum Corporation

Beartooth controls 825 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 Stillwater Mining Company (SMC) operates two mines 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

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

Please note: Maps are available on CCNMatthews' website at the following link:

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