Lavatrafo Update

Jubilee Platinum PLC
05 February 2007


                              JUBILEE PLATINUM PLC

                          ('Jubilee' or 'the Company')

                 Madagascar - Lavatrafo Project Drilling Update

            Nickel-Copper-PGM mineralisation intersected on Ranomena


Jubilee announces very pleasing results from its first borehole RAN1 drilled in
the Ranomena ultramafic intrusion, which intersected some 49 metres of
continuous sulphide mineralisation. This intrusion occurs some 3.4 kilometres
south of its main Lavatrafo ultramafic intrusion, which lies within the southern
Lavatrafo licence area in Londokomanana. This licence is held by Mineral
Resources of Madagascar Sarl, Jubilee's 85% owned operating subsidiary, and is
located approximately 150km north of the Madagascan capital Antananarivo.

A second borehole RAN2, some 400 metres north of and along strike of RAN1, has
been drilled and results are expected later this month.


Highlights:

• 49m continuous platinum group metals ('PGM'), nickel ('Ni') and copper
  ('Cu') sulphide mineralisation intersected from 119m down hole (84m vertical
  depth from surface)

• The intersection includes:

  • 3.7m grading 1.10g/t platinum, palladium and gold ('3E'), 0.56% Ni and
    0.13% Cu (gross metal value ('GMV') of $114/t rock at current prices)*; and

  • 9m of 0.89g/t 3E, 0.49% Ni, and 0.16%Cu (GMV: $198/t)

• Total 49m (119m to 168m) assaying 0.43g/t 3E, 0.28% Ni and 0.08% Cu
   (GMV:$111/t)

• Average platinum to palladium ratio 0.7 to 1


*Prices US$/oz:  Pt 1100;  Pd 300;  gold 600.   US$/t:   Ni 35000;  Cu  5000


The results are summarised in the table below, with detailed results shown in
the table as appended.



        Mineralised             From          To         Total          3E         Ni        Cu      GMV**
       Intersection              m*           m*           m*          g/t          %        %     $/t rock

           Total                119          168           49          0.43       0.28      0.08      111

         including              123          145           22          0.62       0.35      0.10      141
         including              129          138           9           0.89       0.49      0.16      198
         including              135          138          3.7          1.10       0.56      0.13      226


  * Apparent thickness  **GMV = gross metal value

3E = platinum palladium & gold   *Prices US$/oz:  Pt 1100; Pd 300; gold 600.
US$/t:   Ni 35000; Cu  5000


Colin Bird, CEO of Jubilee commented, 'We are very pleased with these excellent
results from this first borehole as we believe that they could be indicative of
a major extension to the mineralisation we have already seen in Lavatrafo. We
have now identified mineralisation occurring over some 12km of strike within the
project area, meaning that there is the potential for a large resource.'


Ranomena Ultramafic Formation

As previously announced (21 September 2006) four trenches in Ranomena were
recovered and sampled and reported high PGMs and Ni mineralisation values across
lengths of up to 60m. Of particular interest was Trench C3 which included a run
of 8m @ 0.92g/t 3E and 0.36% Ni and two 1m intervals assaying 1.38 g/t 3E and
1.68 g/t 3E.

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 comprises of standards, blanks and check samples
making between 10% and 20% 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

Borehole RAN1 - Detailed results from the 49-m mineralised intersection


   Sample ID       From         To        Interval      Au        Pt        Pd        Cu       Ni       Co      Cr2O3
                     m           m           m          ppm       ppm       ppm      ppm      ppm      ppm       ppm
     M6899        118.70      119.70         1           <0.01      0.05      0.06      399     1950       85      8782
     M6900        119.70      120.70         1           <0.01      0.07      0.09      295     1613       65      8720
     C0102        120.70      121.90        1.2           0.04      0.06      0.05      190      944       44      9760
     C0103        121.90      123.15        1.25         <0.01      0.07      0.16      438     2211       99     10261
     C0104        123.15      124.15         1           <0.01      0.23      0.23      331     2019       80     18748
     C0105        124.15      125.15         1           <0.01      0.22      0.34      546     2998      105     18536
     C0106        125.15      126.15         1            0.01      0.11      0.18      482     2057       75      9073
     C0107        126.15      127.15         1            0.03      0.16      0.38      974     3467      115      9833
     C0108        127.15      128.20        1.05          0.01      0.04      0.06      243     1366       56     37110
     C0109        128.20      129.30        1.1           0.02      0.11      0.15      527     1927       69     61406
     C0110        129.30      130.55        1.25          0.12      0.43      0.71     3633     6369      180     15260
     C0112        130.55      131.55         1            0.03      0.22      0.31     1021     3705      102     29675
     C0113        131.55      132.55         1            0.03      0.21      0.31      960     3490       95     34959
     C0114        132.55      133.50        0.95          0.02      0.30      0.40     1194     3949      101     93593
     C0115        133.50      134.60        1.1           0.04      0.18      0.34     1710     4066      105     40936
     C0116        134.60      135.30        0.7           0.02      0.17      0.87     1828     9536      241     31838
     C0117        135.30      136.30         1            0.03      0.61      0.52      972     5013      144     13726
     C0118        136.30      137.30         1            0.05      0.43      0.63     1317     4464      103     48535
     C0119        137.30      138.30         1            0.04      0.50      0.50     1118     4670      100     19848
     C0120        138.30      139.30         1            0.02      0.20      0.35      995     4094       96     24612
     C0122        139.30      140.30         1            0.01      0.07      0.08      333     1326       37      7248
     C0123        140.30      141.80        1.5           0.02      0.12      0.13      423     1790       46     53585
     C0124        141.80      142.75        0.95          0.08      0.40      0.48      644     2456       66     13267
     C0125        142.75      143.80        1.05          0.03      0.15      0.22     1532     4132      109     28560
     C0126        143.80      144.72        0.92          0.04      0.17      0.31      764     3183       92      7460
     C0127        144.72      145.72         1            0.02      0.10      0.12      307     1303       46      7709
     C0128        145.72      146.72         1            0.02      0.10      0.17      764     2589       79      9372
     C0129        146.72      147.70        0.98          0.06      0.15      0.31     1378     4212      120      6652
     C0130        147.70      148.70         1            0.02      0.09      0.13      374     1810       52     19341
     C0132        148.70      149.70         1            0.03      0.17      0.26      906     4051      109      9599
     C0133        149.70      150.70         1            0.06      0.12      0.17     1439     2414       72     10132
     C0134        150.70      151.90        1.2           0.04      0.15      0.21      522     2223       64     10691
     C0135        151.90      152.95        1.05          0.02      0.18      0.20      495     2103       61     11155
     C0136        152.95      153.88        0.93          0.49      0.16      0.26     1282     3538       97      8792
     C0137        153.88      154.95        1.07          0.03      0.08      0.17      539     2161       65      7301
     C0138        154.95      155.95         1            0.02      0.15      0.16      357     1444       50     29816
     C0139        155.95      156.95         1            0.04      0.03      0.05      643     2346       76      7080
     C0140        156.95      158.00        1.05          0.01      0.04      0.06      295     1384       41     23499
     C0142        158.00      158.75        0.75         <0.01      0.01      0.02       58     1369       72     26860
     C0143        158.75      159.75         1            0.02      0.03      0.06      290     1170       47      6692
     C0144        159.75      160.75         1            0.02      0.07      0.09      447     1720       61      7300
     C0145        160.75      161.75         1            0.04      0.13      0.19     1455     3959      135      4888
     C0146        161.75      162.90        1.15          0.04      0.13      0.28     1802     5334      182      6706
     C0147        162.90      164.10        1.2           0.03      0.09      0.14      733     2510       95      6411
     C0148        164.10      164.90        0.8           0.01      0.03      0.06      235      970       40      8126
     C0149        164.90      165.70        0.8          <0.01      0.03      0.04      123      576       27      7938
     C0150        165.70      166.70         1            0.02      0.13      0.21      600     2581       92     58208
     C0152        166.70      167.70         1            0.01      0.06      0.09      403     1624       68      6310




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