Final Results

Jubilee Platinum PLC 05 November 2003 4th November 2003 JUBILEE PLATINUM PLC PRELIMINARY RESULTS FOR THE PERIOD ENDED 30 JUNE 2003 CHAIRMAN'S STATEMENT This is the first report of the company since Jubilee Platinum plc (the Company) was admitted to trading on the Alternative Investment Market of the London Stock Exchange (LSE). During the period under review, your Board has concluded that major competing Platinum Group Metal (PGM) geological environments to the South African Bushveld are unlikely to be discovered and therefore focus should be directed towards the Bushveld complex. We believe that the Mineral and Petroleum Resources Development Act promulgated in October 2002 offers new exploration and mining opportunities to emerging mining and exploration companies. The country's well established mining culture, transparent mining code and mineral abundance provides new entrants with value for money compared with regions where politics and infrastructure are challenged. Supply fundamentals for PGMs have not materially improved whilst demand becomes more positive with light diesel legislation and improving prosperity in South East Asia and China. All of the aforementioned led the Company to secure varied positions in and around the Bushveld where geological prospectively was good, title was clear and mining operations are in close proximity to the targets. I am pleased to report that considerable progress was made during the year and continues to be made. We now have prospecting options on the Eastern and Western Bushveld which includes highly prospective near surface holdings in the Brits area. The Madagascar exploration holding yielded very positive indications in the form of a gossan zone some 350 metres long and between 4 to 20 metres wide with anomalies as high as 8.8% copper, 0.89% nickel and 0.35gm PGM. During October 2003, a follow up geological reconnaissance revealed similar structures extending some 10km on strike. These structures have been sampled and assay results are pending. During the year we carried out due diligence work on joint venture options held with Golden Prospect plc. The options were for projects in Ethiopia and Sierra Leone. We elected to pursue the Sierra Leone option but relinquished the Ethiopian projects since the operating fundamentals were more suitable to a major mining company rather than an emerging explorer/developer. Drill work was carried out in the Thunder Bay area of Canada and a PGM target was defined at the southern end of the Havoc Lake. It is likely that the Canadian asset will be joint ventured with a major mining company in due course. The coming year promises to be an exciting one with multi opportunities to add significant shareholder value from our various options and holdings. Finally, I would like to thank shareholders and staff for their support in this formative and acquisitive first year of the company's life. Stephen Kearney Chairman JUBILEE PLATINUM PLC CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30 June 2003 £ Administrative expenses (367,503) Amortisation of goodwill (38,307) Operating loss (405,810) Interest receivable and similar income 24,849 Amounts written off investments (174,118) Loss on ordinary activities before taxation (555,079) Tax on loss on ordinary activities - Loss for the financial period (555,079) Basic loss per share (1.43p) JUBILEE PLATINUM PLC CONSOLIDATED BALANCE SHEET AS AT 30 June 2003 £ £ Fixed assets Intangible assets 349,317 Tangible assets 2,513 Current assets 351,830 Debtors 39,089 Investments 475,882 Cash at bank and in hand 616,703 1,131,674 Creditors: amounts falling due within one year (64,179) Net current assets 1,067,495 Total assets less current liabilities 1,419,325 Capital and reserves Called up share capital 387,500 Share premium account 1,586,904 Profit and loss account (555,079) Shareholders' funds 1,419,325 C Bird CEO JUBILEE PLATINUM PLC balance sheet AS at 30 june 2003 £ Fixed assets Intangible assets 80,314 Tangible assets 2,513 Investments 250,000 332,827 Current assets Debtors 164,645 Investments 475,882 Cash at bank and in hand 613,092 1,253,619 Creditors : amounts falling due within one year (51,983) Net current assets 1,201,636 Total assets less current liabilities 1,534,463 Capital and reserves Called up share capital 387,500 Share premium account 1,586,904 Profit and loss account (439,941) Shareholders' funds 1,534,463 C Bird CEO JUBILEE PLATINUM PLC consolidated cash flow statement For the period ended 30 June 2003 £ Net cash outflow from operating activities (329,891) Returns on investments and servicing of finance Interest received 24,849 Capital expenditure and financial investment Purchase of intangible fixed assets (194,884) Purchase of tangible fixed assets (3,351) Net cash outflow from capital expenditure and financial investment (198,235) Acquisitions Cash acquired with subsidiary 45,576 Movement in liquid resources Funds placed on deposit (600,000) Financing Issue of shares and warrants 1,550,000 Expenses of share issues (475,596) Net cash inflow from financing 1,074,404 Increase in cash 16,703 -ENDS- For further information, please contact: Colin Bird Justine Howarth /Cathy Malins Jubilee Platinum plc Parkgreen Communications Ltd Tel 020 7584 2155 Tel 020 7287 5544 This information is provided by RNS The company news service from the London Stock Exchange

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