Madagascar Update

Jubilee Platinum PLC
08 December 2005

8 December 2005

                              Jubilee Platinum Plc
                         ('Jubilee' or 'the Company')

        Airborne VTEM Geophysics Survey Identifies a Significant Anomaly
                         over Ambodilafa in Madagascar


Jubilee is pleased to announce the completion of the large-scale helicopter
Versatile Time-Domain Electromagnetics ('VTEM') Airborne survey, commissioned
and funded by BHP Billiton, over the Company's Mananjary Block on its Ambodilafa
concession in Madagascar and the issuance of an independent preliminary
interpretive report. This event is the first milestone pursuant to a
collaborative agreement with BHP Billiton dated 27 October 2005.



Highlights:



   •  An airborne geophysical survey, covering 195.3 line kilometres, has
      been completed over the Mananjary block on Jubilee's Ambodilafa concession



   •  The independent report has identified within the block a strong
      anomaly 'consisting of a flat lying circular feature 'with an estimated
      thickness of up to 40 metres



   •  The independent report highlights that 'work to date has indicated a
      worthy target for drill testing' and recommends completion of 
      interpretation prior to drill testing



Colin Bird, chief executive officer of Jubilee, said: 'We are pleased to have
achieved such a positive and exciting anomaly result from the survey.  We will
continue aggressively with further interpretation of the results to define
targets for drill testing as soon as possible.'



Jubilee's Ambodilafa concession forms a large 190km(2) property, which is part
of an extensive ultrabasic system. The property is located some 160 kilometres
southeast of the Madagascan capital Antananarivo.



The report notes that the particularly strong responses obtained in the survey
are derived from flat lying targets. The VTEM method is state-of-the-art and is
acknowledged as being an excellent prospecting tool for identifying anomalies
related to massive sulphides.



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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