Beartooth Platinum Corporation
TSX VENTURE : BTP

Beartooth Platinum Corporation

February 29, 2008 12:17 ET

Beartooth Platinum Corporation Identifies Potential Bulk Tonnage Platinum/Palladium Discovery With Contained High Grade Intercepts at Its Stillwater Project, Montana, USA

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2008) - Beartooth Platinum Corporation (TSX VENTURE:BTP) is pleased to announce assay results from the 10,000-foot (3,048-meter) 2007 drilling program at its Stillwater Project in south-central Montana. Gold (Au), Platinum (Pt), Palladium (Pd), and selected Rhodium (Rh) assays have now been received for the 2007 work program (Tables 1 & 2 attached).

- Drilling was conducted at the Iron Mountain & Chrome Mountain Target areas, within the 15 Km soil geochemical anomaly discovered in 2006 (please visit www. beartoothplatinum.com for more details of current and past exploration activities).

- All holes intercepted anomalous Gold + Platinum + Palladium mineralization.

- Iron Mountain drilling intercepted narrow, reef style mineralization similar to the 2006 drilling which intercepted grades reaching 21.72 g/t Gold + Platinum + Palladium over a drill width of 0.55 meters.

- Drilling at Chrome Mountain intercepted bulk mineralization with up to 216.4 meters at 0.5 g/t Gold + Platinum + Palladium

- All 10 Chrome Mountain holes were collared within the central part of the soil geochemical anomaly in this area, and all holes started immediately in mineralization. Several holes terminated in mineralization (Map 1 attached).

Note: To view Figure 1 Map illustrating the large Pt+Pd soil geochemical anomaly associated with the CM Zone of PGM mineralization, and the locations of the 2007 drill holes in the Chrome Mountain area, please view the following link: http://media3.marketwire.com/docs/CMZone.pdf.

- Average intercept at Chrome Mountain is 118.2 meters at a grade of 0.66 g/t Gold + Platinum + Palladium.

- Every Chrome Mountain drill hole contained at least one significant high grade (greater than 1.0 g/t Gold + Platinum + Palladium) intercept.

- Platinum : Palladium ratios average 1:1.4 indicating that the Chrome Mountain target contains relatively more Platinum than the North American average. For example, Stillwater Mining Company's JM reef has a Platinum : Palladium ratio of 1:3.4.

- Rhodium assays for select core returned up to 0.5 g/t Rhodium, but average Rhodium : Platinum ratios are approximately 8:1

- The Chrome Mountain holes were drilled on sections approximately 200 meters apart and tested an area approximately 1000 meters by 400 meters to a depth of 150 meters.

- A large part of the Chrome Mountain target remains untested.

Mike Johnson, President & CEO of Beartooth Platinum Corporation, stated "Quite frankly, we were astonished when the assay numbers started to come back from the Chrome Mountain holes. We realized we were looking at enormous volumes of rocks with elevated Platinum Group Elements (PGE) contents, within which multiple, high grade, Chromitite-associated PGE reefs occur. We clearly anticipated intersecting Chromitite reef-style PGE mineralization, but the scale of the mineralized envelope is beyond all expectations. We are actively refining our models of mineralization, and are currently embarking on another round of detailed trace element analysis to test these theories. The model is a work in progress, but is already providing some predictive capabilities to our exploration efforts. We are anxiously awaiting the opportunity to get back to Stillwater and test some of the areas that we could not reach last year".

Stillwater Geologic Discussion

BTP company geologists now believe that the Chrome Mountain area may represent a zone of active magma influx into the Stillwater chamber, essentially a feeder zone. Because the magmas will have more energy at the point of entry, the sulfides droplets again come into contact with larger amounts of magma, thus scavenging large amounts of PGM. At Chrome Mountain, the broad zones of PGM enrichment reflect the higher energies of magmas entering the chamber from conduits in this area. The very high grade chromitite associated mineralization within the mineralized envelope reflects a periodic culmination of the process in which very high energy magma pulses undergo turbulent interaction with PGM-enriched residual magmas. The fact that multiple high-grade chromitite intervals appear to be present in the Chrome Mountain area may also reflect proximity to entry points for new magmas.

This process of increasing magma energies leading to increasing PGM concentration in sulfides is also believed to be responsible for the high grade PGM mineralization of the Platreef of the Bushveld Complex, the most profitable PGM deposit in the world. Similarly, the interaction between high-energy fresh magma pulses and older, PGM enriched, residual magmas in the Bushveld magma chamber is thought to have produced the high grade PGM deposits of the UG2 chromitite layer.

Other News

The initial hole on the Doornfontein Property in South Africa was stopped at 786 meters due to hole collapse. The hole was terminated within the lowest formation of the Karoo Supergroup -the Eccla Formation shale. No magnetic units were identified in the lithological units encountered in the drill hole, and the Company believes the source of the anomaly lies deeper beneath the Karoo sequence. The drill is provisionally scheduled to return to the property in March to complete a new hole.

For a complete discussion of the developing Stillwater Geologic Model and additional information on the 2007 exploration program, please visit www.beartoothplatinum.com.

About Beartooth Platinum Corporation

Beartooth Platinum Corporation is focused on the exploration for Platinum Group Metals (PGE) globally. The Company is currently active in two of the world's most significant PGE camps: the Stillwater and Bushveld intrusive complexes. In Montana, USA, Beartooth controls 1054 unpatented lode mineral claims over the exposed 50-km strike length of the Stillwater Intrusive Complex. The Stillwater Complex hosts the JM-Reef, the world's highest-grade primary PGE deposit. Stillwater Mining Company (SMC) currently operates two mines on the J-M Reef. Beartooth's mineral claims are contiguous with these significant resource properties.

In Limpopo Province of South Africa, Beartooth has an option to earn a 70%-interest in the approximately 7,500 hectare Doornfontein property. The Doornfontein property overlies a regional scale magnetic anomaly situated between the North and East Limbs of the Bushveld Intrusive Complex. The anomaly is thought to reflect the westward extension of the East Limb of the complex beneath younger cover rocks. The East Limb of the intrusion hosts the Merensky and UG2 platiniferous reefs, two of the most significant repositories of Platinum Group Metals in the world.

Regulatory Footnotes

Michael D. Johnson, President, CEO and Director of Beartooth Platinum Corporation (BTP), is a Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has reviewed the technical disclosure in this press release. Field work in the Stillwater Complex, Montana, USA, has been performed under Mr Johnson's supervision.

All analytical work is being completed by SGS Mineral Services of Toronto, ON, Canada; and Actlabs, Ancaster, ON, Canada. Both SGS and Actlabs are respected international analytical services which are accredited with NATA and comply with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes.

Samples are transported from the project area to the SGS sample preparation facility in Elko, Nevada by FedEx. The samples are dried and pulverized at this facility and an assay split is sent to the SGS facility in Toronto, ON, Canada. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (i) SGS Analytical Code 37350, FAI313 Gold, platinum and palladium by fire assay lead collection, (ii) SGS Analytical Code 37339, ICP90A Sodium Peroxide Fusion / ICP-OES. All core drill samples were geologically logged and sampled by BTP's geologists in various sample lengths, depending on the geology. The core was then split using a diamond tipped core saw, with one half sent for assay and the other half retained and securely stored at BTP's facility in Nye, Montana, USA. The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis.

Additional information about the Company and its properties is available on the Company's website at www.beartoothplatinum.com.

If you would like to receive press releases via email please contact Catarina@chfir.com Please specify "Beartooth press releases" in the subject box.

Forward Looking Information

This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, estimates regarding the geology of the Company's properties, timing of future exploration activities and the impact of additional work on the progress of the program. Forward-looking information is subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking information is made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

Table 1: Selected assay results from 2007 drill holes in the Chrome Mountain and Iron Mountain West areas, Stillwater Project. Intersection intervals represent apparent widths. Holes were drilled at inclinations of -45 degrees. Mapping in the areas indicates stratigraphic units are dipping vertically. Au equals Gold, Pt equals Platinum, Pd equals Palladium, ppb equals parts per billion (1000 ppb equals 1 gram per tonne). Intercepts greater than 1.0 g/t in Bold



2007 Chrome Mountain Drill Holes
Inter- Inter- Au+Pt
Hole Number From To val val Au Pt Pd +Pd Pt/Pd
(feet) (feet) (feet) (meters) (ppb) (ppb) (ppb) (g/t)
CM2007-01 26 426 400 121.9 9 269 236 0.513 1.14
includes 50 54 4 1.2 6 1660 818 2.484 2.03
includes 78 79 1 0.3 108 940 3880 4.928 0.24
includes 198 200 2 0.6 41 1460 1360 2.861 1.07
includes 205 206 1 0.3 33 590 2510 3.133 0.24
includes 242 243 1 0.3 42 430 1800 2.272 0.24
includes 390 398 8 2.4 26 600 457 1.083 1.31

CM2007-02 44 359 315 96.0 31 368 562 0.961 0.65
includes 79 243 164 50.0 56 493 919 1.468 0.54
includes 127 187 60 18.3 108 724 1585 2.418 0.46
includes 139 140 1 0.3 172 1800 2970 4.942 0.61
includes 150 151 1 0.3 226 2300 5390 7.916 0.43
includes 219 220 1 0.3 97 1550 2040 3.687 0.76

CM2007-03 0 156 156 47.5 127 306 441 0.873 0.69
includes 34 138 104 31.7 133 359 519 1.011 0.69
includes 133 137 4 1.2 173 1170 1382 2.725 0.85
Hole abandoned @ 156'

CM2007-04 5 764 759 231.3 55 271 371 0.696 0.73
includes 5 388 383 116.7 94 361 568 1.022 0.64
includes 5 62 57 17.4 146 398 520 1.065 0.76
includes 71 73 2 0.6 76 650 786 1.511 0.83
includes 146 147 1 0.3 152 2130 5330 7.612 0.40
includes 255 256 1 0.3 397 1650 4460 6.507 0.37
includes 289 290 1 0.3 749 4370 6790 11.909 0.64
includes 304 308 4 1.2 249 1430 3160 4.839 0.45
includes 356 372 16 4.9 168 483 316 0.966 1.53
includes 580 584 4 1.2 106 2880 3270 6.256 0.88

CM2007-05 212 679 467 142.3 49 172 288 0.509 0.60
includes 309 321 12 3.7 134 470 542 1.147 0.87
includes 400 406 6 1.8 97 290 1123 1.51 0.26
includes 546 554 8 2.4 144 396 746 1.285 0.53
includes 638 646 8 2.4 12 420 1045 1.477 0.40

CM2007-06 29 284 255 77.7 75 211 262 0.549 0.81
includes 29 48 19 5.8 64 305 1107 1.476 0.28
includes 36 37 1 0.3 181 1080 4730 5.991 0.23
includes 72 76 4 1.2 47 420 817 1.284 0.51
includes 156 204 48 14.6 143 389 260 0.792 1.50

CM2007-07 5 715 710 216.4 53 158 324 0.534 0.49
includes 116 120 4 1.2 41 290 1390 1.721 0.21
includes 142 146 4 1.2 67 550 1560 2.177 0.35
includes 174 182 8 2.4 114 275 853 1.241 0.32
includes 224 236 12 3.7 103 348 1486 1.938 0.23
includes 224 230 6 1.8 133 517 2303 2.953 0.22
includes 254 262 8 2.4 56 323 942 1.32 0.34
includes 270 272 2 0.6 98 260 758 1.116 0.34
includes 282 286 4 1.2 233 610 690 1.533 0.88
includes 488 518 30 9.1 88 181 342 0.611 0.53
includes 536 542 6 1.8 107 355 739 1.202 0.48
includes 546 566 20 6.1 113 521 1700 2.333 0.31
includes 554 555 1 0.3 179 1090 4240 5.509 0.26
includes 611 623 12 3.7 77 273 822 1.172 0.33
includes 651 667 16 4.9 156 453 990 1.598 0.46

CM2007-08 130 540 410 125.0 95 280 379 0.754 0.74
includes 130 155 25 7.6 147 465 616 1.228 0.75
includes 141 142 1 0.3 319 1340 1590 3.249 0.84
includes 283 326 43 13.1 105 380 621 1.106 0.61
includes 302 306 4 1.2 126 660 1260 2.046 0.52
includes 342 472 130 39.6 123 392 566 1.081 0.69
includes 421.5 422.1 0.6 0.2 90 2030 4250 6.37 0.48

CM2007-09 12 75 63 19.2 104 366 596 1.066 0.61
includes 27 47 20 6.1 211 410 899 1.52 0.46
includes 43 47 4 1.2 228 730 1980 2.938 0.37
includes 51 75 24 7.3 60 480 628 1.168 0.76
Hole abandoned @ 75' 0

CM2007-10 11 355 344 104.9 50 265 371 0.686 0.72
includes 35 58 23 7.0 133 457 924 1.514 0.49
includes 52 58 6 1.8 181 847 1982 3.009 0.43
includes 67 127 60 18.3 57 389 507 0.953 0.77
includes 83 87 4 1.2 71 940 1280 2.291 0.73
includes 131 147 16 4.9 30 600 771 1.401 0.78
includes 191 207 16 4.9 12 320 499 0.831 0.64
includes 303 343 40 12.2 85 383 525 0.993 0.73


2007 Iron Mountain West Drill Holes
Inter- Inter- Au+Pt
Hole Number From To val val Au Pt Pd +Pd Pt/Pd
(feet) (feet) (feet) (meters) (ppb) (ppb) (ppb) (g/t)
IM2007-01 216 228 12 3.7 30 147 569 0.746 0.26
567 574 7 2.1 173 159 480 0.812 0.33
654 662 8 2.4 241 405 441 1.087 0.92
866 878 12 3.7 42 207 350 0.599 0.59
1024 1052 28 8.5 61 221 372 0.654 0.60
1104 1116 12 3.7 54 220 842 1.116 0.26

IM2007-02 446 450 4 1.2 43 430 594 1.067 0.72

IM2007-03 181 200 19 5.8 31 114 458 0.602 0.25
228 240 12 3.7 37 130 463 0.629 0.28
284 303 19 5.8 40 272 421 0.733 0.65


Table 2. Full suite PGM analysis for selected samples from the 2007
drilling program. Analyses were completed by Actlabs using NiS collection
NAA. (ppb equals parts per billion); Os equals Osmium, Ir equals
Iridium, Ru equals Ruthenium, Rh equals Rhodium, Re equals Rhenium)

----------------------------------------------------------------------------
Os Ir Ru Rh Pt Pd Au Re
----------------------------------------------------------------------------

Sample ppb ppb ppb ppb ppb ppb ppb ppb
----------------------------------------------------------------------------
146830 less than 2 10.1 8 29.4 396 695 103 less than 5
----------------------------------------------------------------------------
146831 less than 2 6.3 9 less than 0.2 176 220 107 less than 5
----------------------------------------------------------------------------
146832 less than 2 6.6 9 less than 0.2 286 492 73.9 less than 5
----------------------------------------------------------------------------
146834 15 18.1 16 less than 0.2 748 1660 201 less than 5
----------------------------------------------------------------------------
146835 18 8.9 7 42.4 594 1400 133 less than 5
----------------------------------------------------------------------------
less
146836 less than 2 5.9 than 5 22.8 561 1570 52.5 less than 5
----------------------------------------------------------------------------
146844 18 42.3 44 149 2120 6140 134 less than 5
----------------------------------------------------------------------------
146857 less than 2 30.5 36 113 671 2480 241 less than 5
----------------------------------------------------------------------------
146858 less than 2 23.3 28 125 605 1850 134 less than 5
----------------------------------------------------------------------------
146886 21 25.9 29 96.3 1160 3970 295 less than 5
----------------------------------------------------------------------------
146891 less than 2 10.4 22 less than 0.2 561 1320 295 less than 5
----------------------------------------------------------------------------
146896 54 12.9 29 less than 0.2 253 564 268 less than 5
----------------------------------------------------------------------------
146897 less than 2 12.7 25 25 462 1250 241 less than 5
----------------------------------------------------------------------------
146898 39 18.1 29 88.5 517 2180 349 less than 5
----------------------------------------------------------------------------
146903 less than 2 4.1 7 less than 0.2 275 276 121 less than 5
----------------------------------------------------------------------------
146904 less than 2 5.4 9 less than 0.2 176 427 174 less than 5
----------------------------------------------------------------------------
146905 less than 2 9.2 13 less than 0.2 451 1060 268 less than 5
----------------------------------------------------------------------------
146906 less than 2 2.8 6 less than 0.2 88 324 57.8 less than 5
----------------------------------------------------------------------------
146907 less than 2 7.5 7 less than 0.2 308 720 57.8 less than 5
----------------------------------------------------------------------------
146908 69 110 140 416 2530 7760 255 less than 5
----------------------------------------------------------------------------
146909 less than 2 6.8 7 less than 0.2 209 1050 76.6 less than 5
----------------------------------------------------------------------------
146910 less than 2 10.6 11 64.8 352 1360 134 less than 5
----------------------------------------------------------------------------
146911 less than 2 30.5 35 156 1180 3430 188 less than 5
----------------------------------------------------------------------------
146917 less than 2 12.9 12 67 1130 3060 174 less than 5
----------------------------------------------------------------------------
146987 less than 2 6.6 6 less than 0.2 308 2830 147 less than 5
----------------------------------------------------------------------------
146988 less than 2 8.7 8 54.7 473 516 30.8 less than 5
----------------------------------------------------------------------------
146989 18 25.9 18 111 1990 2540 64.3 less than 5
----------------------------------------------------------------------------
146996 21 25.9 36 128 429 294 129 less than 5
----------------------------------------------------------------------------
147048 15 23.5 30 150 528 456 24.1 less than 5
----------------------------------------------------------------------------
147051 30 68.2 48 507 825 449 24.1 less than 5
----------------------------------------------------------------------------


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

Contact Information