Beartooth Provides Project Update At Its Stillwater Complex Property.

TORONTO -- BEARTOOTH PLATINUM CORPORATION (TSX VENTURE:BTP) continues to make good progress with the exploration program that has been planned for 2005 (refer to a previous press release dated January 26, 2005). Beartooth has focused on advancing compilation work on significant historical data in anticipation of an upcoming field geochemical sampling and platinum-palladium target validation programs, and diamond drilling.

"We are extremely pleased with the progress made to date at the 800 plus claim and 50 kilometer strike length Stillwater land package," commented Mike Johnson, President and CEO of Beartooth Platinum Corporation. "We are tracking to the plan developed in January 2005 by the highly experienced management team, geologists and compilation consultants, and are confident that we can delineate a platinum-palladium resource in the area surrounding SMC's operating mines (Stillwater, East Boulder Mines) at the Stillwater Complex."

Beartooth will hold an investor conference call at 10 A.M. (EST) on Wednesday May 42005.

Conference Call Details
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Date: Wednesday May 4, 2005
Time: 10:00 am EST
Local callers: 416-640-3404
North American callers: 1-866-337-9164
International callers: [phone]

Beartooth controls 826 unpatented lode mineral claims over the exposed 50 kilometre strike length of the Stillwater Complex. The Complex hosts the largest known resource of PGE's in North America, and includes the Stillwater Mining Company (SMC), which operates two mines in a mineralized rock unit known as the J-M Reef (the Stillwater and East Boulder mines). SMC reports proven and probable reserves at the Stillwater Mine of 15.9 million tonnes grading 22.63 g/t of combined platinum-palladium, with a platinum to palladium ratio of 3.4:1, and proven and probable reserves at the Boulder East Mine of 20.6 million tonnes grading 18.17 g/t of combined platinum-palladium, with a platinum to palladium ratio of 3.7:1 (source: Stillwater Mining Company Website). Beartooth's mineral claims are contiguous with and surround SMC operating mines.

Project Update

Beartooth initiated a major program in January 2005 to identify of one or more zones with higher-grade platinum-palladium. The work includes:

- a compilation and synthesis of the extensive historical database to prioritize the approximately 90 sectors already permitted for exploration work and also to generate new targets. Preliminary results indicate a significant continuity of the geology and sulphide-rich zones than previously thought based on the current drilling and re-interpretation of the original structural data;

- a comprehensive geochemical sampling program will be implemented in earlysummer to determine the orientation and extent of existing and new PGE's bearing horizons, as well as corroborating the projected trends from the airborne magnetic-electromagnetic geophysical interpretation; which will

- ultimately lead to diamond drilling in the third quarter 2005.

Combining geophysics to geology has shed new light on the projected trends of known platinum-palladium targets, which have kilometric extents. This adds new potential for Beartooth's Stillwater property, which according to the Management Team could eventually translate into significant Mineral Resources.

Previous work by Beartooth has defined a number of platinum-palladium targets that lie within its claim group, particularly within at least one "reef" (Picket Pin) similar to the J-M Reef, and a 2,000 metre thick ultramafic unit that hosts numerous chromite horizons and nickel-copper sulphide mineralization (Camp zone), both of which carry platinum-palladium anomalies.

There are two major chromite units enriched in platinum-palladium on Beartooth's ground in the Iron Mountain area. Historical drilling by Beartooth returned significant values of 1.24 g/t platinum and 2.75 g/t palladium over 2.8 metres, and 1.36 g/t platinum and 2.57 g/t palladium over 7.1 metres from chromite units. The main mineralized sector at Iron Mountain is the nickel-copper Camp Zone, containing anomalous platinum-palladium. The Camp Zone hosts a historic mineral inventory estimated by AMAX (prior to NI43-101 standards) at 5.45 million tonnes grading 0.43% nickel and 0.25% copper (the mineral inventory was previously reported by Beartooth in press releases dated October 12, 2004 and November 19, 2004). However, the assaying of the original AMAX core did not include platinum-palladium analysis.

Previously reported diamond drilling (4 holes for 500 metres) by Beartooth in 2004 on the Camp Zone and one other Iron Mountain target identified a number of anomalous intervals for future testing. One of two holes at the Iron Mountain grid (DDH-IMC04-01) returned 0.50 g/t platinum and 1.42 g/t palladium over 3.1 metres. Two holes at the Camp Zone grid intersected (DDh-CZ04-01) 1.39 g/t platinum over 1.1 metres, 0.25% copper and 0.35% nickel over 21.2 metres (including a 0.5 metre interval with 1% nickel and an additional 0.9 metre interval with 0.70% copper) and in the second, hole (DDH-04-02) 1.51 g/t platinum and 0.52 g/t gold over 0.7 metres, 0.51% copper and 0.40% nickel over 3.9 metres (including a 0.6 metre interval containing 1% copper and 0.54% nickel), and finally, 1.80 g/t platinum and 0.51 g/t gold over 1.0 metres.

Mr. Jean Lafleur, P. Geo., Beartooth's Vice-President Exploration, is the Qualified Person (under NI 43-101 guidelines) responsible for reviewing the technical information in the press release.

In addition, the Company has received approval from the TSX Venture Exchange for its previously announced settlement of an outstanding debt owed to Tomasovich 1999 Revocable Trust (see press release dated March 22, 2005). The amount of the debt is US$40,000 with US$4,458 owed in interest. The Company will issue 445,480 common shares to Tomasovich 1999 Revocable Trust as settlement for the entire amount owing, thus extinguishing the debt in its entirety. The common shares issued will be subject to a hold period expiring on August 1, 2005.

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 staements 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.

Beartooth Platinum Corporation (TSX VENTURE:BTP)