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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, 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 March 31, 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)

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

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

n/a
  (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 March 31, 2003 was 46,330,580 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                     | 4   
|                               |                                                     |     
|Item 4.                        | Submission of Matters to a Vote of Security Holders | 4   
|                               |                                                     |     
|Item 5.                        | Other Information                                   | 4   
|                               |                                                     |     
|Item 6.                        | Exhibits and Reports on Form 8-K                    | 4   
|                               |                                                     |     
|Signatures                     | 5                                                  

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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 is currently assessing
  its position on this action.

Item 2.     Changes in Securities and Use of Proceeds

Sales of Unregistered Securities

Options Granted

None.

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 March
  31, 2003 draws in the amount of $100,000 on the convertible debenture were made
  and the Company expects to continue to draw

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on the funds as the Company proceeds with its exploration
  programs. As at March 31, 2003, the Company has received cumulative advances
  of $550,000 of the maximum amount under the debenture of $1,000,000.

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

None.

Item 5.     Other Information

During the quarter ended there were no share purchase warrants expired unexercised.

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

(a) Exhibits

| | 32.1 | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section
      1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------
| | 32.2 | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section
      1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(b) 	Reports on Form 8-K [SB 601]

None.

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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 | October 22, 2003 | By | /s/ Theodore Tomasovich
|---- | ---------------- | -- | -------------------------
|     |                  |    | Theodore Tomasovich      
|     |                  |    | President and Chief      
|     |                  |    | Executive Officer        
|     |                  |    |                          
|Date | October 22, 2003 | By | /s/ Craig C. Smith     
|     |                  |    | Craig C. Smith           
|     |                  |    | Chief Financial Officer  
|     |                  |    | & Corporate Secretary    

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