Madagascar Drilling Update


   Exploration Borehole RAN003 Intersects Additional Nickel, Copper and PGE
 (platinum group element) Mineralisation In The Ranomena Formation  (Lavatrafo
                             Project) In Madagascar

Jubilee Platinum, the AIM listed mining exploration and development Company with
a focus on nickel/copper and platinum group metals in Madagascar, is pleased to
announce that its borehole RAN003 intersected 13 metres of oxidised nickel,
copper and PGE mineralisation from surface collar. The intersection assayed a
weighted average of  0.49% nickel (Ni) 0.16% copper (Cu) and 0.31 g/t combined
platinum, palladium and gold (3PGE) using a cut-off of 0.2% Ni.

Borehole RAN003 is located 505 metres northwest of borehole RAN-001 that
returned mineralization over 49 metres grading 0.28 % Ni, 0.08% Cu and 0.43 g/t
3PGE (previously announced 5 February 2007).


•         Borehole RAN003 intersects nickel copper PGE mineralisation (second
such intersection) in Ranomena from surface.

•         The mineralised intersection runs 12.9 metres assaying 0.49% Ni, 0.16%
Cu and 0.31 g/t 3PGE (implying an in situ gross metal value (GMV*) of  US$163/t
* rock) including a peak assay of 0.69% Ni, 0.24% Cu and 0.65g/t 3E (implying an
in situ GMV* of US$238/t rock) over a  2 metre interval

* Metal prices used: US$/oz: Pt 2000, Pd 440, Au 905; US$/t: Ni 28 175, Cu 8590

Selected results for RAN003 are summarised in table 1 below

Table 1            Borehole RAN003       Selected results
Intersection               From              to       Interval            Ni           Cu          3E   In situ*
                              m              m               m             %            %          g/t GMV US$/t
Total                       0.8            13.7           12.9          0.49         0.16         0.31       163
         including          3.2            11.2            8.0          0.56         0.21         0.45       193
         including          3.2             7.2            4.0          0.58         0.23         0.41       200
         including          8.2            13.7            5.5          0.56         0.15         0.42       185
         including          8.2            12.2            4.0          0.63         0.18         0.53       211
         including          8.2            11.2            3.0          0.69         0.25         0.65       238

3E:  platinum, palladium and gold    GMV: gross metal value

* Prices US$/oz: Pt 2000, Pd 440, Au 905; US$/t: Ni 28 175, Cu 8590

Borehole RAN-003 was collared within the central part of the Ranomena ultramafic
intrusion, and drilled towards the southwest.  Mineralization within RAN003 is
hosted in medium grained peridotite and dunite. The rock types are highly
weathered and any original sulphide has weathered to iron oxide.

Pertinent details of borehole RAN003 are as follows:

East                            735,457m

North                           8,038,032m

Elevation                       989m

Azimuth                         230 degrees

Inclination                     -60 degrees

RAN-003 is located approximately 505 metres northwest from borehole RAN-001
that, as previously announced on 5 February 2007, returned 49 metres of
mineralization grading 0.28 % Ni, 0.08% Cu and 0.43 g/t 3E, from 119 metres to
168 metres down hole depth. Both RAN-001 and RAN-003 targeted copper, nickel and
3PGE soil anomalies associated with the Ranomena ultramafic intrusion.


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

Colin Bird, CEO of Jubilee commented, 'This 500m-stepped-out borehole is the
second on the Ranomena formation to show significant nickel copper
mineralisation. This hole would suggest there is strike extension and we will be
testing the Ranomena prospect for both depth and strike extension.'

For further information please contact:

Colin Bird                                 Nick Rome/Michael Kinirons
Jubilee Platinum plc                       Bishopsgate Communications Ltd
Tel +44 (0) 20 7584 2155                   Tel +44 (0) 20 7562 3350

Andrew Sarosi                              Jan Bosch / Paul Brett

Jubilee Platinum plc                       Investec Bank (UK) Limited
Tel +44 (0) 1752 221937                    Tel +44 (0) 20 7597 5000

Notes to Editors:

About Ranomena

The Ranomena prospect is one of several ultramafic formations within the
Lavatrafo Project concession, for which the ten-year exploration license is held
by Mineral Resources of Madagascar Sarl, a wholly owned subsidiary of Jubilee.

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 is 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;