Madagascar Update

Jubilee Platinum PLC
20 August 2004


20 August 2004


AIM: JLP


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

  Update On Exploration Programme - Pachoud/Lanjanina Concession in Madagascar

          High Anomalous Geochemical Copper & Nickel Values Identified


Jubilee announces significant results from its geochemical soil and stream
sediment sampling programme covering a number of target areas, including
Lanjanina, Belanitra and Pachoud, within its recently acquired Pachoud/Lanjanina
concession in Madagascar. The target areas were identified following Jubilee's
previous reconnaissance programme (announced 1 July 2004) and utilising other
data from previous exploration carried out on the concessions.


Highlights:


  • Soil sampling shows encouraging anomalous high geochemical values with up
    to 2800 ppm copper and 550 ppm nickel in Jubilee's Pachoud/Lanjanina
    concession


  • A related iron-gossan cap, 5km in strike length and 500m wide, identified
    as target for trenching and drilling in Lanjanina


  • A potential continuous 3km copper-nickel geochemical anomaly, covering the
    area from the Pachoud mine to Belanitra, is indicated


Lanjanina

Soil sampling at 20m intervals along a 540m traverse line over the location of a
previous drill hole showed a 280m long section with anomalous values of up to
2300 ppm copper and 550 ppm nickel.  Samples, taken from a pit on this line at
20m deep intervals from surface to 160m, assayed up to 5000 ppm copper and 860
ppm nickel.  Samples from a cutting at the edge of a previous drill platform
peaked at 3500 ppm copper and 1100 ppm nickel.

Lanjanina is an area of low relief, flat topped hills and moderately incised
drainage. Outcrop is absent but iron-gossan-rock float is common on hills and
from the topography would appear to indicate the presence of an extensive iron
cap over a potential 5km strike length from the south to the north licence
boundary.  The maximum width of this cap is estimated at 500m.  An iron gossan
rock sample, taken 1km north of the sampling line, assayed 370 ppm nickel.
Previous BRGM copper-nickel geochemical data, covering ground to the north of
Jubilee's sampling, support the associated iron-gossan cap extension.

These anomalous results are encouraging and suggest the area is a highly
prospective target for further exploration involving trenching and drilling.


Pachoud - Belanitra

Two areas, Belanitra and Pachoud mine, were targeted for soil sampling to
delineate broadly the disseminated copper mineralisation identified in two small
quarries in Belanitra during the previous reconnaissance sampling, and establish
potential continuity of mineralisation between Belanitra  and the Pachoud mine
some 3.5 km to  the southwest.

Two soil sample lines, southwest and northeast of the Belanitra quarries were
sampled at 20m intervals.

Line1, 1020m long and southwest of the quarries, was positioned to intersect and
establish extension of potential mineralisation towards the Pachoud mine.
Assays of the soil samples showed anomalous high copper values peaking at 784
ppm copper and nickel at 235 ppm suggesting potential mineralisation continuity
towards the Pachoud mine.

Line 2, 840m long, was located 500m northeast of the Belanitra quarries to
establish extension of potential mineralisation in the opposite direction from
line 1. Assays of soil samples peaked at significantly lower values of 102 ppm
copper and 94ppm nickel suggesting potential mineralisation attenuates to the
northeast.

Stream sediment samples, taken concurrently in the Belanitra area, confirmed
generally the uni-directional mineralisation potential with samples from the
southwest drainage peaking at 1180 ppm Cu and 80 ppm Ni, whilst those taken from
the northeast drainage showed poor values.

Similarly, in the Pachoud mine area, two soil sample lines positioned northeast
and southwest of the mine were sampled at 20 m intervals.

Samples from line 1, 1300m long and northeast of Pachoud, peaked at  150 ppm
copper and 230 ppm nickel whilst samples from line 2, 1120m long, positioned at
a change in topography from the Pachoud ridge to low lying ground showed
significantly lower copper and nickel assays. The results   suggest potential
continuity of mineralisation towards Belanitra and attenuation of potential
mineralisation away from Pachoud towards the southwest.

Overall, the results from the Pachoud-Belanitra area indicate a potential 3km
strike length of anomalous geochemical copper-nickel values from Pachoud mine to
Belanitra. This is a potential target for further exploration involving
trenching and drilling.

Colin Bird, Chief Executive Officer of Jubilee, said 'We appear to be making
significant progress with our recent Pachoud acquisition. The results show that
the area of mineralisation is not confined to Pachoud and that there exists
multi opportunities for copper and nickel mineralisation in and around the area
of our concessions.'


For further information please contact:


Colin Bird                                        Justine Howarth / Cathy Malins
Jubilee Platinum plc                              Parkgreen Communications Ltd
Tel [phone]                                 Tel [phone]
www.jubileeplatinum.com


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