Beartooth Drill Program Update.

Business Editors

BURNABY, British Columbia--(BUSINESS WIRE)--Nov. 18, 2002

BEARTOOTH PLATINUM CORPORATION (TSX:BTP)("the Company") announces that the drilling program on the Stillwater Complex of Montana continues to be plagued with extreme weather conditions. The extreme cold temperatures are significantly below normal for this time of year and have created substantial challenges with respect to the freezing of water that is used in the drilling process.

Based on the extensive delays and the associated costs which have been experienced over the past three weeks, the Company has decided to suspend the drilling program for the year and to conserve its cash position. The Company completed 42 meters in the first hole on the VEZ horizon and has sent the core to ACME Analytical Laboratories Ltd. in Vancouver, Canada. The Company will report the results as they become available.

John Andrews, President and CEO states: "This has been an unusual year with respect to weather conditions - the Company was delayed at the start of the drill program due to a late, heavy snowfall and we have now been hindered in our ability to complete the program due to extreme cold temperatures. However, we are pleased that the 2002 drill program identified four significant zones of PGM mineralization that have continuity along strike and which are open both at depth and along strike. Within these zones are areas of high grade values (8 meters grading 3.58 grams per tonne in drill hole IM2002-07 and 35.66 meters grading greater than 1 gram per tonne, including 2.75 meters of 4.3 gram per tonne in drill hole IM2002-12). The drill holes were sited to test a prominent geochemical anomaly and coincident geophysical anomaly, with drill holes placed in four fences (sections) spaced 15 meters apart along the long axis of the geochemical anomaly. Although the drill holes only tested 15% of the 300 meter strike length of the open-ended anomaly, PGM mineralization was encountered in every section. Based on this limited drilling, the grade of the PGM mineralization increases toward the northwest in the direction of the VEZ anomaly. The Company has commissioned additional analysis on the core and pulp samples which will greatly assist in the interpretation of the results and development of high quality targets for the next phase of drilling. The Company will announce the results from these analyses when they become available."

The Company's land position is very large (over 20,000 acres) and to date, the Company has tested less than 10% of its land holdings and only one of several potential targets identified through geophysics. Due to the size of the Company's land position, the minimal amount of exploration work completed to date, and promising drill results from the 2002 program, the Company will be reviewing several strategic alternatives over the next few months which include additional financing for next year's drilling program and potentially seeking a joint-venture partner to advance the property on a larger scale."

The Company's qualified person on the 2002 drill program is Mr. Wilf Struck, Vice President of Beartooth Platinum Corporation.

Beartooth Platinum Corporation is a Canadian company that explores for Platinum Group Metals (PGM) in the Stillwater Complex of Montana, USA. The Company's core asset is a significant land holding of over 20,000 acres with several advanced stage exploration targets and numerous untested PGM zones. The Company's shares trade on the TSX Venture Exchange under the symbol "BTP."

Disclaimer:

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission.

Some of our press releases contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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