INTN'L PLATINUM, DEGUSSA IN JOINT VENTURE TALKS

  International Platinum Corp said it
  signed a letter of intent to enter into further negotiations on
  a joint venture exploration agreement with Degussa A.G., of
  West Germany, regarding several North American platinum
  properties.
      Conclusion of the agreement is subject to completion of
  further detailed examination by Degussa, as well as board and
  regulatory approvals.
      Under terms of the letter of intent, Degussa would
  contribute substantially to a three year exploration budget of
  4.5 mln dlrs in return for a 50 pct interest in the venture.
      Degussa's contribution to the exploration budget will be
  based on it matching International Platinum's past exploration
  and acquisition costs, estimated at about two mln dlrs, and
  then contributing on a pro rata basis, International Platinum
  said.
      Degussa's contribution would provide a major portion of
  International Platinum's exploration budget, especially during
  the first and second year of the proposed joint venture, the
  company said.
  

