Beartooth Platinum Updates Stillwater Exploration Program.

TORONTO -- Beartooth Platinum Corporation (TSX VENTURE:BTP) is pleased to provide an update on the Company's ongoing Stillwater PGE project located in the world-class Stillwater PGE complex in south-central Montana.

Numerous exploration targets were identified during the three month compilation of available historic data from the Stillwater Intrusive Complex. A summer field program, which commenced in late June, has focused on three specific areas identified by the compilation work that are thought to have the most significant economic potential.

Based on interpretations of a 1900 line kilometer airborne magnetic and electromagnetic survey completed by Beartooth Platinum Corporation (BTP) in 2000, the JM reef appears to continue onto BTP's Fishtail Creek area of unpatented mining claims at the east end of the complex.

A second target area, Iron Mountain, is prospective for three styles of mineralization: (1) possible offsets of the JM reef, (2) a strong, geophysical target named the Volatile-Enriched Zone (VEZ), which may represent the lateral continuation of the Platinum Group Metals (PGM)-enriched Coors 602 and Janet 50 zones, and (3) an extensive, PGM-bearing chromitite layer.

A third target area, Blakely Creek, lies in the western part of the complex and may contain offsets of the JM reef. The geophysical signature of the VEZ is also present in the Blakely Creek claim block.

The summer program consists of two stages of exploration. The first, to be completed this month, consists of a high-resolution ground magnetic survey of the three targets areas, coupled with a geochemical soil-sampling program. The second stage, commencing in mid-August, will consist of drilling anomalies determined by ground magnetics and soil geochemistry.

The high-resolution ground magnetometer survey currently underway at the three target locations along the JM Reef trend will enhance previously interpreted geophysical data collected from a helicopter-borne geophysical survey in 2000. To date approximately 80 kilometers of ground data have been collected in steep, rugged and genuinely inhospitable terrain.

The objective of the survey is to accurately locate the JM Reef for follow-up diamond drilling and to determine the location and depth of the projected extension of the Stillwater Complex to the east of Fishtail Creek. Coincident with the ground magnetic survey, to date 1,075 soil geochemical samples have been collected from the Fishtail Creek area and 244 from Iron Mountain. It is anticipated that the ground magnetic and soil survey at Iron Mountain and Blakely Creek areas will be completed by late August.

The results of the ground magnetic survey confirm that, at the locations tested, the JM Reef has a recognizable magnetic signature. This signature can be traced by magnetics to the east of the interpreted Fishtail graben and Paleozoic cover, where a magnetic signature typical of near surface Stillwater Complex rocks can be seen. Results from the soil geochemical-sampling program, which could confirm the ground magnetic data, are expected soon.

About Beartooth Platinum Corporation

Beartooth controls 809 unpatented lode mineral claims over the exposed 50 kilometre strike length of the Stillwater Complex, North America's largest known resource of PGE's 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.

NOTE: There is a Map available on CCN Matthews' website at:

http://www2.ccnmatthews.com/database/fax/2000/Beartooth.pdf

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Beartooth Platinum Corporation (TSX VENTURE:BTP)