Drilling Report

Jubilee Platinum PLC
10 September 2002

                              JUBILEE PLATINUM PLC

                       7-8 Kendrick Mews, London, SW7 3HG
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10 September 2002



                  COPPER AND RARE EARTH ELEMENT MINERALIZATION
                 INTERSECTED AT HAVOC NEAR BLACK STURGEON FAULT
                          Thunder Bay Mining Division

Jubilee Platinum, the AIM listed platinum exploration company, has discovered
copper and rare earth element mineralization deposits at its Thunder Bay Mining
Division in Ontario, Canada.  This project is a joint venture with East West
Resource Corporation of Vancouver.  The discovery was made following the
completion of an initial 4 hole reconnaissance program on the central part of
the 318 claim unit Havoc property, 180 km north of Thunder Bay.

Two important styles of mineralization were located.  Pyroxenite-gabbro and
picrite rocks beneath the Nipigon diabasic sills have been identified which
contain native copper and malachite (copper) in fractures.  The picrite olivine
bearing rocks are considered to be most favourable host for Noril'sk type
Cu-Ni-PGE sulphide deposits.  A number of priority drill targets at the base of
the sills have now been classified as a result of this initial drilling and
earlier soil sampling and IP-EM surveys.  These targets fall in a down dropped
rift block on the west side of the main Black Sturgeon Fault which itself has
been confirmed for the first time in this area.  Noril'sk sulphide deposits in
Siberia occur at the base of picrite sills adjacent to major deep mantle tapping
faults.

Red hematite (iron oxide) alteration was also discovered in the basement rocks
beneath the sills at the contact of the Sibley sediments.  Highly elevated rare
earth elements (REE's) occur in the red hematite including Tantalum (Ta),
Niobium (Nb), Cerium (Ce), Thorium (Th) and Uranium (U), and Tin (Sn).  Two
sections in HAV02-03 assayed as follows.

Depth            Length      Ag         Ce          Nb         Ta         Sn         Th         U
m                m           ppm        ppm         ppm        ppm        ppm        ppm        ppm
71.0 - 72.5      1.5         9          21.5        600        534        1075       1          2.0
72.5 - 74.0      1.5         10         35.0        651        548        597        1          1.0
74.0 - 75.5      1.5         2          42.0        171        74.5       26         4          1.5

132.5 - 134.0    1.5         4          108.0       96         6.0                   8          7.0
134.0 - 135.5    1.5         4          141.0       154        8.0                   11         8.0
135.5 - 137.0    1.5         1          113.0       6          0.5                   1          3.5

Chalcopyrite (copper) mineralization was also noted in the basement country
rocks to the side of the red hematite (iron oxide) alteration.  All of the above
noted alteration and elevated rare earths (REE's) suggest the presence of an
Olympic Dam style of mineralization.  Given the fact that the company is
exploring a major Proterozoic Rift structure and the proximity of the 1540 my
English Bay alkali 'granite' intrusion which is the same age as the Olympic Dam
deposit in Australia, and the similar style mineralization now found to occur on
the Havoc property, all future holes that will be drilled to test PGE sulphide
targets in the mafic-ultramafic rocks will be extended into the red oxidized
rocks below.

The Olympic Dam deposit in Australia is over 4 billion tonnes containing REE's,
Cu, Au, U, and other trace elements and is associated with hematited (iron
oxide) structures in alkali 'granite'.  Other deposits in this class occur
peripheral to the alkali granites but all of the deposits in Australia are
Proterozoic in age and are situated in a major Rift system and are classified as
World Class 'Giant Ore Deposits'.

Additional staking has been completed and expanded soil and geological mapping
will be carried out prior to resumption of drilling.

Colin Bird, Chief Executive of Jubilee Platinum, commented, 'We are very
encouraged with this positive result of our initial reconnaissance programme.'

ON BEHALF OF THE BOARD

                                     -ENDS-

For further information, please contact:

Colin Bird - Chief Executive               Justine Howarth / Cathy Malins
Jubilee Platinum                           Parkgreen Communications
Tel: [phone]                          Tel: [phone]


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