Beartooth Platinum Corporation is Pleased to Announce 2008 Drilling Program for Platinum and Palladium on the Stillwater Complex

Market Wire, May, 2008

Beartooth Platinum (TSX VENTURE: BTP) is pleased to announce that it has received United States Forest Service (USFS) approval for the proposed drilling on the joint venture property held by Beartooth and Premium Exploration Inc., (TSX VENTURE: PEM), located on the Stillwater Complex, south central Montana, USA.

The 2008 drilling is designed to further delineate the zone of mineralization encountered by last year's drill program (Please see news release dated February 29th, 2008).

The 2008 drill program will be located in the Chrome Mountain target, located on the north-western portion of the Stillwater Complex in Sweet Grass County, in the Gallatin National Forest. The program will consist of 10 to 15 NQ Core holes, totaling approximately 10,000 feet. The 2008 drill program is designed to follow up the successful 2007 drill program.

The 2007 drilling encountered high-grade reef-style mineralization that Beartooth management believes is associated with chromitite layers occurring within a much thicker envelope of PGM enrichment. For example, in drill hole CM2007-02, chromitite-associated mineralization reaches grades of 7.9 g/t Au Pt Pd over a drill width of 0.3 meters. The chromitite reef is enclosed by a halo of mineralization grading 1.5 g/t Au Pt Pd over a drill width of 50.0 meters. Similarly, chromitite associated mineralization in hole CM2007-04 reaches grades of 11.9 g/t Au Pt Pd over 0.3 meters, within a mineralized halo grading 1.0 g/t Au Pt Pd over 116.7 meters. Interestingly, high grade, chromitite associated PGM mineralization occurs at multiple locations within the PGM-enriched halo. Five such intervals occur in hole CM2007-04. (see the February News Release for interval details as documented in Table), with the individual intervals having Au Pt Pd grades of 7.6 g/t over 0.3 meters, 6.5 g/t over 0.3 meters, 11.9 g/t over 0.3 meters, 4.8 g/t over 1.2 meters, and 6.3 g/t over 1.2 meters.

The drilling only tested a small portion (approximately 30%) of the large geochemical anomaly discovered in 2006. The geochemical anomaly is 15 kilometers in length, but broadens dramatically to 800 meters near Chrome Mountain. All ten of the 2007 Chrome Mountain drill holes were collared within the central part of the soil geochemical anomaly in this area, and all holes started immediately in mineralization and several holes terminated in mineralization. Average intercept at Chrome Mountain is 118.2 meters at a grade of 0.66 g/t Gold Platinum Palladium, with platinum: palladium ratios averaging 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

At Chrome Mountain, the broad zones of PGM enrichment may reflect the higher energies of magmas entering the chamber from conduits (feeder zones) in this area. Because the magmas will have more energy at the point of entry, the sulfides droplets come into contact with larger amounts of magma, thus scavenging large amounts of PGM. 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.

The very high grade chromitite associated mineralization within the mineralized envelope at Chrome Mountain 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 this area may also reflect proximity to entry points for new magmas. The lithology is also disrupted and lacks continuity between drill holes indicating turbulent conditions during crystallization. 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.

A large part of the Chrome Mountain target remains untested and the 2008 drill program will delineate the mineralization encountered last year and will also test additional geochemical and geophysical anomalies located on the Chrome Mountain target.

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 was 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.