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**UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION**
  Washington, D.C. 20549

FORM 10-QSB

(Mark One)

x QUARTERLY
  REPORT PURSUANT TO SECTION 13 OR l5 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
  
  For the quarterly period ended September 30, 2003.

 ̈ TRANSITION
  REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the transition period from ________ to ________

Commission File Number _____________

BEARTOOTH PLATINUM CORPORATION(Exact name of small business issuer as specified in its charter)

|Yukon Territory, Canada         | 82-0465571            
|------------------------------- | ----------------------
|(State or other jurisdiction of | (I.R.S. Employer      
|incorporation or organization)  | Identification Number)

910  885 Dunsmuir Street
  Vancouver, B.C.V6C 1N5(Address of principal executive offices) (Zip Code)

(604) 484-2191
  (Issuers telephone number, including area code)

________________________________________________
  (Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the issuer: (1) has filed all
  reports required to be filed by Section 13 or 15(d) of the Securities Exchange
  Act of 1934 during the preceding 12 months (or for such shorter period that
  the registrant was required to file such reports), and (2) has been subject
  to such filing requirements for the past 90 days.

Yes x No
   ̈

The number of shares of the issuer's Common Stock outstanding
  at September 30, 2003 was 46,732,580 common shares.

Transitional Small Business Disclosure Format: Yes  ̈
  No x

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TABLE OF CONTENTS

|                               |                                                     | Page | 
|------------------------------ | --------------------------------------------------- | ---- | 
|                               |                                                     |      | 
|PART I  BUSINESS AND PROPERTY | 3                                                   |     
|                               |                                                     |      | 
|PART II -- OTHER INFORMATION   | 3                                                   |     
|                               |                                                     |      | 
|Item 1.                        | Legal Proceedings                                   | 3    | 
|                               |                                                     |      | 
|Item 2.                        | Changes in Securities and Use of Proceeds           | 3    | 
|                               |                                                     |      | 
|Item 3.                        | Defaults Upon Senior Securities                     | 5    | 
|                               |                                                     |      | 
|Item 4.                        | Submission of Matters to a Vote of Security Holders | 5    | 
|                               |                                                     |      | 
|Item 5.                        | Other Information                                   | 6    | 
|                               |                                                     |      | 
|Item 6.                        | Exhibits and Reports on Form 8-K                    | 6    | 
|                               |                                                     |      | 
|Signatures                     | 6                                                   |     
|                               |                                                     |      | 
|Certifications                 |                                                     |     

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PART I

The Company is not required to file this part pursuant to Rule 13a-13(c)(2)
  of the Securities Exchange Act of 1934.

PART II

Item 1.     Legal Proceedings

On July 11, 2002 we commenced an action in the British Columbia
  Supreme Court against First Choice Industries Ltd. ("First Choice") under No.
  S023888, Vancouver Registry, by filing a Writ and Statement of Claim. These
  documents have been served on First Choice. The Statement of Claim references
  the Stillwater West PGM Agreement (the "Agreement") of November 1, 2001 between
  us and First Choice and the notice of termination of the Agreement provided
  by First Choice to us on June 3, 2002. The Statement of Claim does not contest
  the termination of the Agreement but does seek the specific performance of obligations
  owed to us by First Choice, which accrued prior to any termination and remain
  outstanding pursuant to the terms of the Agreement. Specifically we seek an
  order that First Choice pay to us $137,000 (U.S.) and issue 200,000 shares of
  First Choice's unrestricted, registered common stock to us in substitution for
  the shares provided to date, or, in the alternative, damages in lieu of specific
  performance and interest and costs. Beartooth Platinum continues to assess its
  position on this action.

Item 2.     Changes in Securities and Use of Proceeds

Sales of Unregistered Securities

Options Granted

The following stock options were granted during the quarter ended September
  30, 2003.

|Optionee        | Grant
      Date  | Expiry
      Date | Exercise
      Price ($CDN) | Number
      of
      Shares
|--------------- | ----------------- | ----------------- | --------------------------- | ----------------------------
|Directors:      |                   |                   |                             |                             
|John Andrews    | September 8, 2003 | September 7, 2008 | $0.10                       | 50,000                      
|Jim Clucas      | September 8, 2003 | September 7, 2008 | $0.10                       | 50,000                      
|Reid Keays      | September 8, 2003 | September 7, 2008 | $0.10                       | 50,000                      
|Delbert Steiner | September 8, 2003 | September 7, 2008 | $0.10                       | 50,000                      
|Ted Tomasovich  | September 8, 2003 | September 7, 2008 | $0.10                       | 50,000                      
|                |                   |                   |                             |                             
|Officers:       |                   |                   |                             |                             
|Craig Smith     | September 8, 2003 | September 7, 2008 | $0.10                       | 100,000                     
|                |                   |                   |                             |                             
|                |                   |                   | Total                       | 350,000                     

All options granted above will vest over an 18 month period as follows:

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| | a) | 25% of the initial aggregate number of common shares vest on allocation;                                                            
| | -- | ------------------------------------------------------------------------------------------------------------------------------------
| | b) | 25% of the initial aggregate number of common shares vest on the date
      which is 6 calendar months after the date of grant;     
| | c) | 25% of the initial aggregate number of common shares vest on the date
      which is 12 calendar months after the date of grant; and
| | d) | 25% of the initial aggregate number of common shares vest on the date
      which is 18 calendar months after the date of grant.    

Other sales

In connection with a private placement completed in the quarter
  ended March 31, 2002, the Company also issued a convertible debenture payable
  in the amount of $1,000,000 (C$1,587,000). The debenture bears interest at 6%
  per annum. The debenture is convertible, at the option of the holder, into units
  of the Companys common shares at C$0.35 per unit for a maximum number
  of units of 4,535,149 until February 7, 2004. Each unit consists of one common
  share and one-half of a common share purchase warrant. The holder can acquire
  one additional common share for one full warrant and C$0.70 per share for two
  years from the date of conversion. The holder of the debenture is a related
  party. The issuance of these common shares will be exempt from registration
  by virtue of Section 4(2) of the Securities Act.

On January 6, 2003 the holder converted $450,000 of this debenture
  into 2,021,150 common shares of the Company. During the quarter ended September
  30, 2003 draws in the amount of $235,000 on the convertible debenture were made
  and the Company expects to draw down the remaining $55,000. As at September
  30, 2003, the Company has received cumulative advances of $945,000 of the maximum
  amount under the debenture of $1,000,000.

On May 1, 2003, the Company announced the termination of the
  Platinum Fox property joint venture agreement. In order to terminate the agreement
  the Company made a payment of $4,300, issued 100,000 common shares and quit
  claimed 65 claims from the area of interest to the other parties
  to the joint venture. These costs along with other estimated termination costs
  and the capitalized resource property costs were written-off in the year ended
  December 31, 2002 in the amount of $546,893. The Platinum Fox property was dropped
  as a result of an analysis by the Company of its exploration priorities within
  the overall Montana property area. On the basis of that analysis, it was determined
  that the potential of the Platinum Fox did not justify the future costs associated
  with maintaining the property.

Exemption Relied Upon

With respect to all of the foregoing stock and option issuances
  without registration under the Securities Act of 1933, as amended (Securities
  Act), the Company relied upon exemptions from the registration requirement
  of the Securities Act contained in Section 4(2), Regulation D or Regulation
  S. In each instance, the securities were taken by the investor for investment
  and not with a view to subsequent resale or distribution, the securities were
  issued with appropriate restrictions on transfer and the certificates contained
  restrictive legends required by the appropriate exemption.

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Working Capital Restrictions

The Company has had negative cash flows from operating activities
  since inception, and expects that negative cash flows from operating activities
  will continue, which will have a material negative impact on liquidity.

The Company is dependent on the proceeds of debt and equity
  financings such as private placements, issuances of convertible securities,
  the exercise of stock options or warrants, and optioning or selling its properties
  or other assets to fund its general and administrative expenditures and its
  mineral exploration and development costs. Without such proceeds, the Company
  may not continue as a going concern. The Company will need funding to continue
  its operations and there can be no assurance that such funding will be available.

Limits on Dividends

The Company has never paid any dividends on its common stock
  and the Company does not expect to pay dividends on its common stock in the
  foreseeable future.

Item 3.     Defaults Upon Senior Securities

Not applicable.

Item 4.     Submission of Matters to a Vote of
  Security Holders

There were no matters submitted to a vote of security holders during the quarter
  ended September 30, 2003.

Item 5.     Other Information

On July 3, 2003, the Company announced that it had appointed
  a new Chief Financial Officer, Craig C. Smith, C.A. and moved its office location
  to Vancouver, B.C.

On July 9, 2003, the Company announced that it had once again
  extended its precious metals focus to include gold. The management of Beartooth
  stated that it had re-evaluated its existing gold properties given the increase
  in gold prices over the past eighteen months and believed that these assets
  provide an excellent opportunity to create value for its shareholders. The Company
  intends to raise capital for the advancement of both its PGM and Gold properties
  and/or seek qualified joint-venture partners.

On September 2, 2003, it was announced that Mr. Theodore Tomasovich
  was appointed as interim President and CEO of the Company. Mr. Tomasovich replaced
  Mr. John Andrews who will continue as a director and as a consultant to the
  Company.

Item 6.     Exhibits And Reports On Form 8-K [SB
  601]

(a) Exhibits

| | 31.1 | Certification of Chief Executive Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002                                                                                 
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 31.2 | Certification of Chief Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002                                                                                 
| | 32   | Certification of Chief Executive Officer and Chief Financial Officer pursuant
      to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
      Act of 2002

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(b) Reports filed during the quarter ended September 30, 2003 on Form 8-K.

None.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act
  of 1934, the registrant has duly caused this report to be signed on its behalf
  by the undersigned, thereunto duly authorized.

|                          | BEARTOOTH PLATINUM CORPORATION
|------------------------- | ------------------------------
|                          |                               
|Date    November 19, 2003 | By                            
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|Date    November 19, 2003 | By                            
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