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.