Re Joint Venture

Jubilee Platinum PLC
05 December 2003

Press Release: 5 December 2003


Jubilee enters into a JV with Noranda Inc. and East West Resource Corporation on
                         its Canadian Havoc Lake option


           - Jubilee also announces results of Annual General Meeting

Jubilee Platinum plc ('Jubilee' or 'the Company'), the AIM listed platinum
exploration company (AIM: JLP),  is pleased to announce that the Havoc Lake
property, including the Company's 74 claims unit group (optioned from East West
Resource Corporation) in the Thunder Bay Mining Division, Ontario (EWR:TSX) has
been optioned to NORANDA Inc. ('Noranda').

The Company, having decided to focus its exploration on the South African
Bushveld Complex and Madagascar, has elected to joint venture its Canadian
properties with a major and has concluded a deal with Noranda Inc. Noranda are
to take over the Company's options with East West Resource Corporation, in
consideration for which Jubilee will be deemed to hold a 15% interest, which may
be bought out for CDN$ 1,500,000 by Noranda. The Company has spent approximately
CDN$150,000 on the property to date.

Colin Bird, Chief Executive of Jubilee, comments, 'We are delighted to have
confirmed this deal with Noranda, having stated previously that we wished to
joint venture the Havoc Lake property with a major mining company.  The choice
to partner with Noranda is based upon the fact that the company has an
operational presence and an excellent team already established within this area.
We believe this joint venture will offer optimum value to shareholders by
enabling the Company to concentrate its efforts upon its prospective assets in
South Africa and Madagascar, without losing its interest in the potential of the
Havoc Lake property.'

This decision is consistent with the Company's pursuit of platinum dominant PGM
(platinum group metals) targets in the Bushveld, as opposed to the predominantly
palladium enriched North American targets, and hence its strategy is to maximise
its resources on the South African Bushveld and Madagascar.

Noranda has commenced drilling the claims unit to test previously located
potential copper-nickel-PGM targets in the area; the plan being to drill the
base of gabbroic sills, where mafic rocks (picrite-pyroxenite) have been
intersected and a geophysical EM (electromagnetic) conductor has been outlined.

The Havoc Lake project is located 200 km north of Thunder Bay and 35 km south of
Armstrong.

The Company looks forward to participation with its new partner Noranda, a well
established mining group with smelter facilities in Ontario and Quebec.


AGM

The directors of Jubilee Platinum plc are also pleased to announce that all the
ordinary and special resolutions proposed at the Annual General Meeting held on
2 December 2003 were passed unanimously.


Ends


For further information please contact:

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




                      This information is provided by RNS
            The company news service from the London Stock Exchange