Drill Update from Madagascar

Jubilee Platinum PLC
04 January 2006


                                                                       
                            JUBILEE PLATINUM PLC
                          ('Jubilee' or 'the Company')

    Drilling and Exploration Update from Londokomanana project in Madagascar

   Jubilee reports significantly higher nickel grades in northern section of
                                 Londokomanana


Jubilee announces the results of its first borehole ANT1 drilled in the
Antsahabe property, in the northern part of the Londokomanana concession ('
Londokomanana') in Madagascar.



Highlights


•    Borehole ANT1 intersects 48 metres total (apparent thickness) of
     multi-layered high-grade nickel-copper sulphide mineralisation close to 
     surface (estimated to be 15 metres below surface)


•    Bulk mining weighted average grades up to 0.64% nickel and 0.13%
     copper (total copper equivalent of 2.0%) with in situ gross metal values 
     ('GMVs') (nickel plus copper) from US$70 to U$90/tonne of rock. (Nickel 
     values previously reported in Lavatrafo were between 0.26% to 0.52% )


•    Intersections include 5 metres at 1.0% nickel, 1.7 metres and 1.0
     metre both at 2.1% nickel with total copper equivalents ranging from 3.3% 
     to 6.2% and GMVs from US$146 to US$278/tonne of rock (at today's prices*)


The full results from the drill core from collar to 122 metres below surface are
appended and the results of the significant mineralised intercepts are shown in
Table 1 below:


Table 1            Grade of mineralised intercepts borehole ANT1


   From metres           To            Intercept                                          Copper        In-situ GMV US$
                                                                                                              /t
                       Metres      (apparent) metres     Nickel          Copper          Equivalent

                                                            %               %                %
      17.2              44.5             27.3             0.64            0.13              2.0               91
      54.2              71.8             17.6             0.60            0.12              1.9               85
      76.6              80.9              4.3             0.53            0.11              1.6               74
      21.5              26.5              5.0             1.05            0.20              3.3               146
      33.6              34.6              1.0             2.09            0.14              6.2               278
      60.1              61.8              1.7             2.06            0.09              6.1               273

*Prices used:  Nickel - US$13,000/t   Copper - US$4,500/t


Colin Bird, CEO of Jubilee, said: 'This is a very pleasing result and the nickel
grades are strong for a bulk mining target. These base metal values compare
favourably with similar projects world-wide.  Our objective is now to confirm a
significant strike length in order to establish a resource to support a large
bulk mining operation.'



The Antsahabe property includes some 22 kilometres of geophysical and
geochemical anomalies, which were identified through previous geochemical and
geophysical exploration by Jubilee in the area. The Company undertook test
drilling at Antsahabe in order to confirm the continuity of mineralisation in
the estimated total 35 kilometres of formations at Londokomanana (north and
south).



Jubilee also updates on the drill programme at its Lavatrafo property. The
Antsahabe deposit is part of the northern unit, whilst Lavatrafo lies in the
southern part.



The drilling programme in the Lavatrafo formation included several lithological
boreholes, the results from which closes the northern end of this formation and
has delineated to date a 360-metre strike length of
copper-nickel-platinum-palladium mineralisation to the south.



Further south, the Company carried out detailed dipole-dipole geophysics
followed with more extensive geochemical sampling over potential new formations
in the area, which the Company had identified from earlier trench sampling.
These results will be reported as soon as they become available.



The Londokomanana concession is held by Jubilee's 85% owned subsidiary Mineral
Resources of Madagascar Sarl, and is located approximately 150 kilometres north
of the Madagascan capital Antananarivo.



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



For further information please contact:


Colin Bird                                  Cathy Malins / Annabel Leather
Jubilee Platinum plc                        Parkgreen Communications Ltd
Tel: [phone]                          Tel [phone]


Appendix 1      Antsahabe drilling results - Borehole ANT1


      Sample                From                  To                Interval             Nickel            Copper

        no.                metres               metres               metres                %                 %
       A1401                0.00                 2.05                 2.05                0.06              0.02
       A1402                2.05                 4.02                 1.97                0.04              0.02
       A1403                4.02                 4.7                  0.68                0.02              0.01
       A1404                4.70                 5.26                 0.56                0.03              0.01
       A1405                5.26                 6.79                 1.53                0.02              0.01
       A1406                6.79                 7.79                 1.00                0.04              0.01
       A1407                7.79                 8.79                 1.00                0.03              0.01
       A1408                8.79                 9.79                 1.00                0.04              0.01
       A1409                9.79                10.79                 1.00                0.05              0.01
       A1411               10.79                11.79                 1.00                0.04              0.02
       A1412               11.79                12.62                 0.83                0.04              0.01
       A1413               12.62                13.32                 0.70                0.05              0.00
       A1414               13.32                13.79                 0.47                0.05              0.02
       A1415               13.79                14.96                 1.17                0.13              0.03
       A1416               14.96                15.69                 0.73                0.14              0.03
       A1417               15.69                16.65                 0.96                0.14              0.04
       A1418               16.65                17.18                 0.53                0.08              0.03
       A1419               17.18                17.88                 0.70                0.34              0.06
       A1421               17.88                18.62                 0.74                0.14              0.03
       A1422               18.62                19.51                 0.89                0.32              0.07
       A1423               19.51                20.86                 1.35                0.04              0.01
       A1424               20.86                21.47                 0.61                0.69              0.12
       A1425               21.47                22.47                 1.00                1.00              0.18
       A1426               22.47                23.47                 1.00                1.00              0.22
       A1427               23.47                24.47                 1.00                1.01              0.19
       A1428               24.47                25.47                 1.00                1.10              0.25
       A1429               25.47                26.47                 1.00                1.15              0.23
       A1431               26.47                27.47                 1.00                0.70              0.18
       A1432               27.47                28.47                 1.00                0.28              0.05
       A1433               28.47                29.47                 1.00                0.47              0.03
       A1434               29.47                30.47                 1.00                0.46              0.14
       A1435               30.47                31.47                 1.00                1.29              0.09
       A1436               31.47                32.47                 1.00                0.82              0.09
       A1437               32.47                33.58                 1.11                0.87              0.32
       A1438               33.58                34.58                 1.00                2.09              0.14
       A1439               34.58                35.58                 1.00                0.77              0.18
       A1441               35.58                36.58                 1.00                0.07              0.13
       A1442               36.58                37.55                 0.97                0.52              0.00
       A1443               37.55                38.39                 0.84                0.42              0.01
       A1444               38.39                38.62                 0.23                0.99              0.09
       A1445               38.62                39.62                 1.00                0.32              0.15
       A1446               39.62                40.76                 1.14                0.22              0.37
       A1447               40.76                41.36                 0.60                1.30              0.05
       A1448               41.36                 42.2                 0.84                0.31              0.03
       A1449               42.20                43.02                 0.82                0.09              0.20
       A1451               43.02                43.52                 0.50                0.08              0.01
       A1452               43.52                44.52                 1.00                0.52              0.00
       A1453               44.52                45.52                 1.00                0.07              0.01
       A1454               45.52                46.52                 1.00                0.07              0.09
       A1455               46.52                47.52                 1.00                0.05              0.02
       A1456               47.52                48.55                 1.03                0.05              0.02
       A1457               48.55                48.76                 0.21                0.03              0.01
       A1458               48.76                 49.7                 0.94                0.13              0.01
       A1459               49.70                50.53                 0.83                0.33              0.01
       A1461               50.53                51.43                 0.90                0.05              0.09
       A1462               51.43                52.18                 0.75                0.04              0.00
       A1463               52.18                52.82                 0.64                0.04              0.01
       A1464               52.82                53.11                 0.29                0.03              0.01
       A1465               53.11                54.33                 1.22                0.06              0.01
       A1466               54.33                54.81                 0.48                0.04              0.01
       A1467               54.81                56.14                 1.33                0.15              0.01
       A1468               56.14                56.41                 0.27                0.07              0.01
       A1469               56.41                56.88                 0.47                0.13              0.03
       A1471               56.88                57.69                 0.81                0.10              0.03
       A1472               57.69                58.25                 0.56                0.27              0.00
       A1473               58.25                58.83                 0.58                0.43              0.03
       A1474               58.83                60.12                 1.29                0.36              0.05
       A1475               60.12                  61                  0.88                2.13              0.11
       A1476               61.00                61.78                 0.78                2.00              0.06
       A1477               61.78                  62                  0.22                0.27              0.60
       A1478               62.00                62.38                 0.38                0.64              0.72
       A1479               62.38                63.19                 0.81                0.57              0.09
       A1481               63.19                63.92                 0.73                0.73              0.10
       A1482               63.92                64.46                 0.54                0.68              0.00
       A1483               64.46                65.43                 0.97                0.93              0.18
       A1484               65.43                66.61                 1.18                0.39              0.13
       A1485               66.61                67.66                 1.05                0.08              0.23
       A1486               67.66                68.09                 0.43                1.26              0.12
       A1487               68.09                68.56                 0.47                0.11              0.02
       A1488               68.56                69.98                 1.42                0.51              0.29
       A1489               69.98                70.29                 0.31                0.10              0.03
       A1491               70.29                70.83                 0.54                1.47              0.30
       A1492               70.83                71.78                 0.95                0.33              0.07
       A1493               71.78                72.78                 1.00                0.05              0.01
       A1494               72.78                73.78                 1.00                0.04              0.01
       A1495               73.78                74.61                 0.83                0.04              0.01
       A1496               74.61                75.61                 1.00                0.03              0.01
       A1497               75.61                76.61                 1.00                0.06              0.01
       A1498               76.61                77.23                 0.62                0.18              0.05
       A1499               77.23                78.23                 1.00                0.31              0.07
       A1501               78.23                79.14                 0.91                0.81              0.14
       A1502               79.14                80.37                 1.23                0.27              0.06
       A1503               80.37                80.91                 0.54                1.43              0.32
       A1504               80.91                82.06                 1.15                0.09              0.02
       A1505               82.06                 83.3                 1.24                0.06              0.01
       A1506               83.30                84.52                 1.22                0.61              0.15
       A1507               84.52                85.52                 1.00                0.17              0.04
       A1508               85.52                86.52                 1.00                0.07              0.02
       A1509               86.52                87.55                 1.03                0.06              0.01
       A1511               87.55                88.53                 0.98                0.28              0.07
       A1512               88.53                89.53                 1.00                0.09              0.02
       A1513               89.53                90.53                 1.00                0.07              0.01
       A1514               90.53                91.45                 0.92                0.08              0.02
       A1515               91.45                92.45                 1.00                0.19              0.05
       A1516               92.45                93.45                 1.00                0.12              0.03
       A1517               93.45                94.45                 1.00                0.17              0.04
       A1518               94.45                95.45                 1.00                0.21              0.05
       A1519               95.45                96.45                 1.00                0.13              0.03
       A1521               96.45                97.45                 1.00                0.10              0.02
       A1522               97.45                98.45                 1.00                0.24              0.06
       A1523               98.45                99.45                 1.00                0.11              0.03
       A1524               99.45                100.45                1.00                0.11              0.03
       A1525               100.45               101.45                1.00                0.08              0.02
       A1526               101.45               102.45                1.00                0.07              0.02
       A1527               102.45               103.45                1.00                0.08              0.02
       A1528               103.45               104.45                1.00                0.08              0.02
       A1529               104.45               105.45                1.00                0.08              0.02
       A1531               105.45               106.45                1.00                0.07              0.02
       A1532               106.45               107.45                1.00                0.08              0.02
       A1533               107.45               108.45                1.00                0.08              0.02
       A1534               108.45               109.61                1.16                0.08              0.02
       A1535               109.61               110.61                1.00                0.07              0.02
       A1536               110.61               111.98                1.37                0.03              0.01
       A1537               111.98               112.98                1.00                0.04              0.01
       A1538               112.98               113.98                1.00                0.03              0.01
       A1539               113.98               115.74                1.76                0.02              0.00
       A1541               115.74               116.16                0.42                0.02              0.00
       A1542               116.16               117.55                1.39                0.03              0.01
       A1543               117.55               118.56                1.01                0.02              0.00
       A1544               118.56               118.93                0.37                0.02              0.00
       A1545               118.93               119.8                 0.87                0.03              0.01
       A1546               119.80               120.71                0.91                0.04              0.01
       A1547               120.71               122.34                1.63                0.04              0.01







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