Update on Madagascar

Jubilee Platinum PLC
21 June 2005

21 June 2005



AIM: JLP

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



 Jubilee Completes Geophysics and Commissions Drilling On Promising Targets at
                   its Londokomanana Concession in Madagascar



Jubilee announces today the results of an induced polarisation ('IP') geophysics
programme over its platinum group metals ('PGM') -nickel ('Ni') -copper ('Cu')
Lavatrafo property in the Londokomanana region of the Mahajanga province,
Madagascar.  This programme, comprising of gradient and dipole-dipole ('DPDP')
array surveys undertaken by Spectral Geophysics Ltd, is a follow-up of the
gravity survey programme over the same area announced on 28 January 2005.  The
survey commenced in May 2005 and field work terminated on 11th June 2005.



Significant highlights, indications and inferences arising from the survey were:



• a geological model is developing whereby the previously identified
  PGM-Ni-Cu mineralisation in Lavatrafo is located at the contact between zones 
  of near zero chargeability and high chargeability respectively (as derived 
  from gradient array IP);



• that the DPDP array chargeability anomaly correlates directly with the
  high PGM-Ni-Cu values obtained in trenching by Jubilee and with associated
  disseminated sulphides intersected in an earlier but believed to be incomplete
  drilling by the Bureau de Recherche Geologiques et Minieres (BRGM);



• that applying the above geological model, based on the mineralisation  
  and geophysics identified in the Antsahabe region which are now believed to be
  similar to that at Lavatrafo,  leads to a potential for some 27 kilometres of
  PGM-Ni-Cu mineralisation.



Colin Bird, CEO of Jubilee, said: 'This was a very productive geophysics
programme as we believe we now have a better understanding of the mineralisation
in Londokomanana and our analysis indicates the potential for at least 27
kilometres of PGM-nickel-copper mineralisation.  This moves the project towards
being a world-class resource.  We have reached an important stage for our first
Madagascan project and on the basis of our model have commissioned a 2000 metre
drilling programme to commence immediately.'



Cas Lotter, managing director of Spectral Geophysics, reports as follows:



'The results of an orientation DPDP array IP survey conducted over BRGM borehole
LVF C8, indicated that the intersection of high PGM grades is located at the
contact between zones of practically zero chargeability and high chargeability.
The IP response is diagnostic to the extent that gradient array IP was used to
map 5.5 kilometres of contact zone, distributed over four NNW-SSE striking
ultramafic 'packages' or lenses.



'The disseminated sulphides intersected at the bottom of LVF C8 correlate
directly with high DPDP chargeability values.  Quantitative modelling of the
DPDP data indicates that the borehole did not completely penetrate the
chargeable body.  The high Cu-Ni values obtained in a trench dug along the trace
of LVF C8 can be directly correlated with the derived body of high
chargeability.



'Similar DPDP array responses were obtained over the contact zones of all four
of the ultramafic lenses investigated.  In some cases both the western and
eastern contact zones appear to be prospective for disseminated sulphides.



'A number of isolated zones of high chargeability were detected at depth,
outside the ultramafic lenses.  The sources of these anomalies will be drill
tested during the forthcoming drilling project.



'The results at Lavatrafo have also led to a better understanding of the
geophysical response obtained in the MAB* area.  A number of areas, which were
previously not considered for follow-up, have been selected for more detailed
investigation, based on the Lavatrafo results.'



* MAB  Mavoandro-Antsahabe-Borokely



Spectral Geophysics, a geophysical consulting and contracting company based in
Gaborone, Botswana, has more than 20 clients, including Rio Tinto, BHP Billiton
and Barrick Gold, and extensive experience throughout Africa.



The Londokomanana project is located approximately 150 kilometres north of the
Madagascan capital Antananarivo.



For further information please contact:


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


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