Beartooth Provides Update On Historical Resources At
Its Stillwater Complex Property
TORONTO, ONTARIO--(CCNMatthews - May 4, 2005) - BEARTOOTH PLATINUM
CORPORATION (TSX VENTURE:BTP), at the request of the TSX Venture
Exchange, wishes to clarify statements made in the press release dated
April 27, 2005, in regards to a historical resource estimate on the Camp
Zone mineralization. It was previously reported that the main
mineralized sector at Iron Mountain is the nickel-copper Camp Zone. The
Camp Zone hosts a historic resource estimated by AMAX Ltd. (prior to NI
43-101 standards) at 5.45 million tonnes grading 0.43% nickel and 0.25%
copper. The inventory is based on approximately 50 diamond drill. The
resource estimate provided in the April 27, 2005 press release is
historical in nature, and has not been verified by the issuer's
Qualified Person, and should not be relied upon.
The information was provided by Mr. Alistair Turner who was directly
involved in exploration and development of mineral deposits in the
Stillwater Complex since 1977. He was instrumental in finding and
developing the platinum-palladium bearing "JM" Reef. This reef is now
being actively mined by the Stillwater Mining Company. Mr. Turner is a
member of the American Institute of Professional Geologists (Certified
Professional Geological Scientist - CPG #7052) and is an independent
qualified person as defined by NI 43-101. The Camp Zone information is
already summarized in a press release dated November 19, 2004.
In 1969 AMAX Ltd. conducted an aeromagnetic survey over the basal
portions of the Complex which identified areas of iron formation within
ultramafic lithologies. Between 1970 and 1977 AMAX, and eventually with
its joint venture partner AMOCO, completed induced polarization (IP)
geophysical and geochemical surveys which outlined a series of anomalies
related to transverse fault zones. These fault zones provide avenues for
the emplacement of late stage discordant dunite/serpentinite bodies and
slump breccias. Drilling of the IP and coincident Ni, Cu soil
geochemical anomalies resulted in the discovery of the Iron Mountain
mineralization. In an area named by AMAX as the Camp Deposit over 50
diamond drill holes tested IP anomalies.
This work formed the basis for estimation by the AMAX - AMOCO joint
venture of an inferred resource of 6 million tons (5.45 million tonnes)
grading 0.43% Ni and 0.25% Cu. The Ni and Cu is reported to occur
predominantly in sulphides, principally pentlandite and chalcopyrite,
respectively. Beartooth has copies of AMAX-AMOCO diamond drill hole logs
and assay data (Ni, Cu, Co) for the majority of holes drilled in the
Camp zone. In addition, it has copies of diamond drill hole relogs of
selected holes completed by the Anaconda Company and by Dr. Michael
Zientek of the United States Geological Survey (USGS), Spokane,
Washington. To date the Company has been unable to locate specifics of
AMAX - AMOCO's documentation related to its resource estimate although
cross sections showing the geological interpretation and distribution of
grades are available. This resource estimate has also been quoted in
USGS publications. Mr. Turner confirms that the drilling data is
reliable and is of the opinion that the resource estimate is reasonable
and would be considered as an inferred resource under the CIM mineral
resource classification of NI 43-101.
Just a reminder that Beartooth will hold an investor conference call at
10 A.M. (EDT) on Wednesday May 4, 2005. Dial-in numbers can be found on
the Beartooth Platinum website at www.beartoothplatinum.com in the
investor section under news:
/T/
Conference Call Details
Date: Wednesday May 4, 2005
Time: 10:00 A.M. (EDT)
Local callers: 416-640-3404
North American callers: 1-866-337-9164
International callers: +1-416-640-3404
/T/
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."
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FOR FURTHER INFORMATION PLEASE CONTACT:
Beartooth Platinum Corporation
Mike Johnson
President and CEO
(775) 721-7966
www.beartoothplatinum.com.
