Drilling Update – Madagascar

 Drilling Update from Antsahabe Prospect, Madagascar

          Nickel-Copper Mineralisation Intersected in Borehole ANT014


Jubilee announces further encouraging drill results from the Antsahabe prospect
in the northern area of its Londokomanana nickel-copper property in Madagascar.

Borehole ANT014 intersected two zones of continuous nickel (Ni) and copper (Cu)
sulphide mineralization in medium to coarse-grained pyroxenite.


Highlights:

•  Drilling intersected two wide zones of nickel (Ni) and copper (Cu) sulphide 
   mineralisation at depths of 155 metres and 205 metres respectively in
   Borehole ANT014.


•  Zone 1 intersected 4.4 metres assaying a weighted average of 0.69% Ni
   (at cut off 0.2% Ni) and 0.16% Cu including 3.5 metres assaying 0.75% Ni and
   0.18% Cu.

•  Zone 2 intersected 11.4 metres assaying 0.39% Ni and 0.10% Cu including 9.3 
   metres assaying 0.44% Ni and 0.11% Cu.


The summarised selected results for borehole ANT014 are given in Table 1 below.


Table 1            Borehole ANT014 selected drilling results

    From                  To                Interval               Ni                 Cu                 3E
   metres               metres               metres                %                  %                 g/t
   154.62               159.02                4.4                 0.69               0.16               0.10
    Including 154.62                158.2                 3.58               0.75               0.18               0.11
   204.61               215.96               11.35                0.39               0.10               0.07
    Including 206.66               215.96                 9.30               0.44               0.11               0.07



Detailed results for the two zones are appended in Table 2 below.

Colin Bird, CEO of Jubilee commented; 'Following the positive results from
borehole ANT009 (announced 3rd October 2007), we are very pleased with the
excellent nickel results for this borehole ANT014, which lies 1.13 kilometres
northwest of ANT009, so giving a potential strike of mineralisation in excess of
1 kilometre and it remains open ended. During the latter part of the current
rainy season we are modelling all of our Londokomanana data with a view to
moving aggressively towards lifting the status of the project drilling from
exploration to infill.'


Borehole ANT014

Location: 8070186N 737121S
Total Depth: 300.10m
Azimuth: 240degrees, dip -50degrees

Borehole ANT014 was collared towards the north-eastern margin of the Antsahabe
ultramafic-mafic intrusion, and is stepped out some 160 metres north of borehole
ANT001 (as previously announced 4 January 2006 - 0.64% Ni over 27.3 metres at 15
metres depth (down-hole) and 0.60%Ni over 17.3 metres at 54 metres) and some 100
metres to the north east of a line of strike running northwest - southeast
through boreholes ANT001 and ANT009.

The mineralisation is hosted in medium- to coarse-grained pyroxenite and occurs
as disseminated and net-textured Ni and Cu sulphides (commonly pyhrrotite,
pentlandite, chalcopyrite). Borehole ANT014 represents a step-out from ANT001,
and together targets part of the Cu-Ni-Cr in-soil anomaly associated with the
Antsahabe ultramafic-mafic body.

Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, South
Africa, carried out analyses of the samples. Quality control and assurance in
place currently comprises of standards, blanks and check samples making between
10% and 20% of samples submitted.

The Londokomanana project is a joint venture with TransAsia Minerals Limited,
who have the right to earn-in 51% of the project for an expenditure of US$7
million.



For further information please contact:

Colin Bird                       Louise Goodeve/ Justine Howarth           Jan Bosch / Paul Brett
                                                                           Investec Bank (UK) Limited
Jubilee Platinum plc             Parkgreen Communications Ltd              Tel + 44 (0) 20 7597 5000
Tel: + 44 (0) 7768 397 627       Tel + 44 (0) 20 7851 7480




Table 2 Borehole ANT014 - Detailed results of the two zones of mineralised
intersections


     From             To         Interval       Au         Pt         Pd         3E          Cu         Ni
    metres          metres        metres       g/t        g/t        g/t        g/t         ppm         ppm
    Zone 1
    154.62          154.93         0.31        0.02       0.03       0.06       0.11        1324       6498
    154.93          155.13          0.2        0.02       0.03       0.06       0.11        2081       7940
    155.13          155.33          0.2        0.02       0.04       0.05       0.11        2070       7776
    155.33          155.53          0.2        0.02       0.05       0.05       0.12        2260       7949
    155.53          155.73          0.2        0.03       0.04       0.06       0.13        2276       7631
    155.73          155.93          0.2        0.03       0.03       0.05       0.11        1686       6657
    155.93          156.13          0.2        0.01       0.03       0.05       0.09        2268       7682
    156.13          156.33          0.2        0.02       0.04       0.06       0.12        1777       7705
    156.33          156.53          0.2        0.02       0.05       0.06       0.13        1982       8134
    156.53          156.76         0.23        0.02       0.05       0.06       0.13        1724       8056
    156.76          156.96          0.2        0.01       0.02       0.04       0.07        1553       6372
    156.96          157.17         0.21        0.03       0.05       0.06       0.14        1713       7785
    157.17          157.37          0.2        0.03       0.03       0.06       0.12        1896       7960
    157.37          157.57          0.2        0.01       0.04       0.05       0.1         1807       7359
    157.57          157.77          0.2        0.01       0.03       0.05       0.09        1298       7330
    157.77          157.97          0.2        0.02       0.04       0.05       0.11        1285       7287
    157.97          158.20         0.23        0.02       0.03       0.05       0.1         1256       7289
    158.20          158.48         0.28        0.01       0.02       0.04       0.07        1060       5324
    158.48          158.68          0.2        0.02       0.02       0.03       0.07        1057       4000
    158.68          159.02         0.34        0.02       0.02       0.03       0.07        890        4483

    Zone 2
    204.61          205.62         1.01        0.01       0.01       0.02       0.04       596.4       2618
    205.62          205.905        0.285       0.01       0.01       0.03       0.05       707.8       2822
    205.905         206.66         0.755       0.01       0.01       0.01       0.03       137.9        755
    206.66          207.365        0.705       0.01       0.01       0.04       0.06       1068.0      4567
    207.365         207.975        0.61        0.01       0.03       0.04       0.08       1006.0      3483
    207.975         208.795        0.82        0.01       0.02       0.03       0.05       1143.0      4231
    208.795         209.795        1.00        0.02       0.06       0.04       0.12       1050.0      3704
    209.795         209.82         0.025       0.01       0.04       0.03       0.07       925.0       3813
    209.82          210.82         1.00        0.01       0.03       0.03       0.07       1273.0      4862
    210.82          211.82         1.00        0.01       0.03       0.04       0.07       1092.0      4639
    211.82          212.105        0.285       0.01       0.01       0.03       0.05       677.0       2937
    212.105         212.61         0.505       0.01       0.04       0.03       0.07       845.8       4406
    212.61          212.89         0.28        0.01       0.13       0.06       0.20       2585.0      7408
    212.89          213.89         1.00        0.01       0.02       0.04       0.08       1172.0      4785
    213.89          214.235        0.345       0.01       0.01       0.03       0.04       959.3       4186
    214.235         214.515        0.28        0.01       0.01       0.02       0.04       904.8       3689
    214.515         214.985        0.47        0.01       0.01       0.03       0.05       986.2       3825
    214.985         215.955        0.97        0.01       0.03       0.03       0.06       924.8       4309


About Jubilee Platinum

Jubilee Platinum plc is a mining exploration and development company with a
focus on platinum group metal (PGM) and nickel/copper.

Jubilee has developed a prospective portfolio of platinum projects,
strategically placed within South Africa's Bushveld Complex, a geological system
unmatched worldwide which produces 80% of the World's platinum.

The Company's prime asset in South Africa is the Tjate project which has an
inferred resource of some 65m oz of PGMs and gold, and is contiguous to existing
mining operations: Anglo Platinum's Twickenham and Impala Platinum's Marula
mines.

Jubilee is also looking to capitalise on the vast untapped mineral wealth of
Madagascar where it is developing three potentially world-class nickel/copper/
PGM assets. Having been operating in Madagascar prior to listing in 2002,
Jubilee Platinum is a forerunner in a country that is proving to be of
increasing interest to the majors. Jubilee is dedicated to sustainable
development and adhering to the highest environmental standards.

For more information please visit; www.jubileeplatinum.com