Major Discovery in Madagascar

Jubilee Platinum PLC
05 September 2005

5 September 2005



AIM: JLP

                              JUBILEE PLATINUM PLC

                          ('Jubilee' or 'the Company')



                 Jubilee Makes a Major Discovery in Madagascar



Drilling Intersects 70 metres of Nickel-Copper-Platinum-Palladium Mineralisation



Jubilee is pleased to announce the results of its first borehole LAV1 drilled on
the Lavatrafo property (Londokomanana Project) in Madagascar. The Londokomanana
Project is located approximately 150 kilometres north of the Madagascan capital
Antananarivo.



Highlights



•   Drilling intersects a 70 metre-wide multi-metal 
    (nickel-copper-platinum-palladium) formation at shallow depth (37metres)

•   Intersection over the entire width (from 38metres to 108metres) grades 0.23% 
    nickel (Ni); 0.11% copper (Cu) and 1.05g/t 3E (platinum (Pt), palladium
    (Pd) and gold (Au))

    (The full results are appended below)

•   Pt to Pd ratio is 1 to 1

•   Copper equivalent of the total intersection is 1.56% at current metal
    prices as of 2nd September 2005

•   In-situ value of total intersection is US$56/t rock at those metal
    prices


Intersection includes


•   6.2 metres (from 55.6m to 61.8m) grading 2.47 g/t 3E and


  From metres         To           Interval                                                  % Cu      In-situ value
                                                                                                          $/t (at
                    metres          metres         % Ni          % Cu         g/t 3E        equiv.        current
                                                                                                          prices)
     72.8            108.4           35.7          0.31          0.19          0.99           1.9            69
     89.4            108.4           19.1          0.34          0.20          1.05           2.1            74
     75.3            83.5            8.3           0.32          0.23          1.15           2.1            75
     102.3           108.4           6.1           0.47          0.24          1.02           2.6            95



•   Wide intercept and shallow depth ideal for open pit mining

•   Intersection proves recently established geophysics model

•   Potential for large regional development since the combination of 
    geophysics and sampling in the area suggests the system may extend over 35
    kilometres.


An industry accepted model for a bulk mining operation producing not less than 8
million tonnes per year is believed to be approximately US$20/tonne production
cost made up of approximately US$11 per tonne as direct operating cost and US$9
per tonne for capital recovery.


Set Point Laboratories (ISO 17025 Accredited and SANAS Accredited to 223) in
Johannesburg, South Africa carried out the analyses of the drill core samples.


Colin Bird, CEO of Jubilee, said 'The size and scope of this discovery bears all
the fundamentals required for a world-class resource combining good grades with
a suite of metals sought after in the market. The thickness of the intersection
provides the potential for large-scale mining and the confirmation of our
evolving model from the recent geophysics programme, suggests that Londokomanana
could develop into a regional, as opposed to a local situation, with some 35
kilometres of ground, some of which has been tested with similar geophysics.
Further drilling, some 180 metres south and along strike, is confirming
continuity of the formation. Results will be released as soon as these become
available.


Hennie Blignault, Consulting Geologist to Jubilee said 'This discovery outside
the South African Bushveld Complex is extremely significant in world terms.'


Mr. Blignault is a former group geologist for Gold Fields of South Africa and
was a lecturer and research associate at the University of the Orange Free State
and the University of Cape Town.



For further information please contact:


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





Appendix 1


                               Londokomanana Project  - Drill results for Borehole LAV1

                                                                                Grade
     Sample         From         To          Interval        Au        Pt         Pd        Ni        Cu        3E
      no.             m           m             m           ppb       ppb        ppb        ppm       ppm       g/t
     S7180          36.50        37            0.50         <10        90         60       1184       81       0.15
     S7181          37.00       37.72          0.72         <10       540        495        408       38       1.04
     S7182          37.72       38.06          0.34         145       185        265       1900      1449      0.60
     S7183          38.06       39.06          1.00         175       140        195       2040      1462      0.51
     S7184          39.06       39.86          0.80         175       190        180       2041      1518      0.55
     S7185          39.86       40.8           0.94         130       335        315       1724       720      0.78
     S7186          40.80       41.8           1.00          90       125        150       2516      1855      0.36
     S7187          41.80       42.38          0.58         155       155        160       2644      1787      0.47
     S7188          42.38       42.93          0.55          95       190        235       1852       803      0.52
     S7189          42.93       43.69          0.76          60       1120       995       1963       418      2.18
     S7190          43.69       44.49          0.80         115       890        965       1755       494      1.97
     S7191          44.49       44.87          0.38          50       155        200       1810       335      0.40
     S7192          44.87       45.63          0.76         135       740        780       1784       898      1.66
     S7193          45.63       46.57          0.94         130       980        515       1721       558      1.63
     S7194          46.57       47.57          1.00          30       1310       1020      1673       158      2.36
     S7195          47.57       48.6           1.03          20       615        400       1474       94       1.04
     S7196          48.60       49.6           1.00          20       110         90       1174       111      0.22
     S7197          49.60       50.6           1.00         <10        80         50       1347       14       0.13
     S7198          50.60       51.6           1.00         <10        85         80       1321       15       0.16
     S7199          51.60       52.6           1.00         <10       270        165       1311       13       0.44
     S7200          52.60       53.6           1.00         <10        50         35       1303       29       0.08
     S7201          53.60       54.6           1.00         <10       115         90       1287       21       0.21
     S7202          54.60       55.6           1.00         <10       325        230       1366       24       0.56
     S7203          55.60       56.6           1.00         <10       625        400       1390       46       1.03
     S7204          56.60       57.6           1.00          15       2130       1550      1391       65       3.70
     S7205          57.60       57.83          0.23          35       4335       2730      1337       23       7.10
     S7206          57.83       58.83          1.00         <10       850        745       1362       40       1.60
     S7207          58.83       59.83          1.00          15       935        880       1414       37       1.83
     S7208          59.83       60.83          1.00         <10       435        530       1382       26       0.97
     S7209          60.83       61.83          1.00          25       1785       2805      1474       70       4.62
     S7210          61.83       62.36          0.53         <10       135        185       1396       <10      0.32
     S7211          62.36       62.8           0.44          15       885        915       1505       10       1.81
     S7212          62.80       63.8           1.00         <10       165        175       1312       16       0.34
     S7213          63.80       64.12          0.32         <10       415        180       1137       <10      0.60
     S7214          64.12        65            0.88         <10       160        215       1213       <10      0.38
     S7215          65.00        66            1.00         <10       240        380       1454       13       0.62
     S7216          66.00       67.08          1.08         <10       780        700       1439                1.48
     S7217          67.08       67.75          0.67          25       1965       3005      1328       31       5.00
     S7218          67.75       68.75          1.00          10       540        885       1626       57       1.44
     S7219          68.75       69.75          1.00         <10        25         20       1520       44       0.04
     S7220          69.75       70.75          1.00         <10        10         10       1495       13       0.02
     S7221          70.75       71.75          1.00          60        30         20       1692       255      0.11
     S7222          71.75       72.75          1.00          55        15         15       1636       264      0.08




                               Londokomanana Project  - Drill results for Borehole LAV1

                                                                                      Grade
           Sample                From         To        Interval      Au       Pt      Pd       Ni       Cu       3E
            no.                   m           m            m          ppb     ppb      ppb     ppm      ppm      g/t

           S7223                72.75       73.37         0.62        85       30      30      2086     700      0.14
           S7224                73.37       73.84         0.47        135      95      75      2040     1065     0.31
           S7225                73.84       74.52         0.68        65      110      90      2308     748      0.27
           S7226                74.52       75.26         0.74        25       25      25      1061     242      0.08
           S7227                75.26       75.88         0.62        215     785      525     1778     2829     1.53
           S7228                75.88       77.35         1.47        535     535      405     3540     1610     1.48
           S7229                77.35       78.35         1.00        220     340      390     2904     2970     0.95
           S7230                78.35       79.31         0.96        320     345      385     3555     2649     1.05
           S7231                79.31       80.05         0.74        305     525      540     3131     2244     1.37
           S7232                80.05       80.85         0.80        200     445      475     3429     2156     1.12
           S7233                80.85        81.1         0.25        160     495      485     2298     1157     1.14
           S7234                81.10       81.51         0.41        90      315      310     3121     2050     0.72
           S7235                81.51       82.51         1.00        135     320      375     3086     2033     0.83
           S7236                82.51       83.51         1.00        210     435      475     3732     2825     1.12
           S7237                83.51       84.79         1.28        140     365      365     2919     1800     0.87
           S7238                84.79       85.24         0.45        115     560      525     2338     1522     1.20
           S7239                85.24       85.77         0.53        60      230      265     2671     1104     0.56
           S7240                85.77       86.72         0.95        75      245      280     2783     1333     0.60
           S7241                86.72       87.78         1.06        200     600      850     2626     1804     1.65
           S7242                87.78        88.6         0.82        70      175      215     1384     708      0.46
           S7243                88.60       89.35         0.75        160     450      535     2363     1549     1.15
           S7244                89.35       90.43         1.08        365     1060     980     3575     3467     2.41
           S7245                90.43       91.41         0.98        135     525      735     3540     1782     1.40
           S7246                91.41       92.11         0.70        375     700      810     2934     2121     1.89
           S7247                92.11       92.85         0.74        135     660      745     3586     2490     1.54
           S7248                92.85       93.85         1.00        75      230      295     2320     916      0.60
           S7249                93.85       94.85         1.00        155     440      505     3510     2150     1.10
           S7250                94.85       95.85         1.00        85      205      305     2540     989      0.59
           S7251                95.85       96.85         1.00        115     470      430     2690     1316     1.02
           S7252                96.85       97.42         0.57        70      200      285     2530     1471     0.56
           S7253                97.42       98.42         1.00        130     390      460     3000     1668     0.98
           S7254                98.42       99.42         1.00        90      445      580     3150     2090     1.11
           S7255                99.42       100.42        1.00        75      265      245     1970     993      0.58
           S7256                100.42      101.39        0.97        160     245      370     2755     2098     0.78
           S7257                101.39      101.64        0.25        190     315      415     2865     1969     0.92
           S7258                101.64      102.35        0.71        20       60      35      230      503      0.11
           S7259                102.35      103.35        1.00        145     655      745     6935     3100     1.55
           S7260                103.35      104.35        1.00        140     430      555     5665     3070     1.13
           S7261                104.35      105.35        1.00        270     530      500     4575     2881     1.30
           S7262                105.35      106.01        0.66        120     875      595     5180     2808     1.59
           S7263                106.01      106.76        0.75        160     325      380     4000     2563     0.87
           S7264                106.76      107.71        0.95        10       10      30      470      722      0.05
           S7265                107.71      108.42        0.71        65      260      365     6170     1522     0.69
           S7266                108.42      108.8         0.38        <10     <10      <10     235      355
           S7277                108.8       109.8         1.00        25       60      105     1605     165      0.19
           S7278                109.8       110.8         1.00        <10     <10      <10     175      210




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