Update from Ambodilafa

Jubilee Platinum PLC
22 February 2007

                              JUBILEE PLATINUM PLC

                          ('Jubilee' or 'the Company')

                   Update from Ambodilafa Project, Madagascar

               Nickel-Copper Sulphide Mineralisation Intersected


Jubilee is pleased to announce that it has intersected semi-massive to massive
nickel ('Ni') - copper ('Cu') sulphide mineralisation with its third diamond
drill hole ALF3 on the Ambodilafa prospect in Madagascar.



The large 4km wide by 14km long Ambodilafa concession lies within the extensive
Vohipaha mafic ultramafic intrusive system, 160km southeast of the Madagascan
capital Antananarivo. The prospecting licence is held 100% by Jubilee's wholly
owned Madagascan subsidiary Mineral Resources of Madagascar ('MRM'). Impala
Platinum Holdings ('Implats') has an option agreement with Jubilee to earn in a
51% interest in the project.



Highlights:



•         Massive, semi-massive, net textured and disseminated nickel-copper
sulphide mineralisation was intersected at a depth of 24m and generally
persisted, although not continuously, to a depth of some 220m



•         The intersections include at a cut-off of 0.2%Ni over 1m:



2.4m (from 24.4m to 26.8m) grading 0.76% Ni, 0.31% Cu, 0.31g/t
gold-platinum-palladium ('3E') and 0.04% cobalt ('Co'). Gross metal value ('GMV
') of US$300/t rock at current prices*

2.2m (from 50.8m to 52.9m) of 1.29% Ni, 0.76%Cu, 0.11g/t 3E and 0.05% Co (GMV
US$515/t)

5.5m (from 93.4 to 98.9m) of 0.63 % Ni, 0.16% Cu, 0.06g/t 3E and 0.03% Co (GMV
US$242/t)

6.5m (from 197.7m to 204.2m) of 0.61% Ni, 0.30% Cu, 0.12g/t 3E and 0.02%Co
(GMV US$241/t)


•               The discontinuous bands of mineralisation between 24m and 222m
total 55m with weighted average grade of 0.42 % Ni and 0.23% Cu at a cut-off of
0.20% Ni and 28m with weighted average grade of 0.61% Ni and 0.28% Cu at a
cut-off 0.3% Ni.



*Current Prices US$/oz:  Pt 1100; Pd 300; gold 600.   US$/t:  Ni 35000; Cu 5000;
Co US$20/lb

GMV does not take into account any geological and metallurgical losses.



Although earlier drillholes ALF01 and ALF02, which targeted the VTEM geophysical
anomaly announced in December 2005, did not intersect significant base metal
sulphide mineralisation, a significant value of 0.35g/t 3E was encountered at
the end of ALF01 over a 2m intersection from 198m to 200m (end of hole).
Drilling depth was limited in this early exploration phase by the equipment
available. The nature and significance of the VTEM anomaly is still being
evaluated with further downhole geophysics proposed for the coming field season.
  Historical data indicated sulphide mineralisation to the immediate west of the
VTEM anomaly and ALF03 was sited to confirm and characterise the mineralisation.



Selected mineralised intersections are summarised in Tables 1 and 2 below for
different Ni cut-off grades, namely 0.20%Ni over 1m and 0.30% Ni over 0.5m.



Table 1: ALF 3 Selected drill intersection results at a cut-off of 0.20% Ni over
1m


     From             To           Interval            3E             Cu           Ni          Co            GMV
      m*              m*              m*              g/t              %           %            %          US$/t**
     24.4            26.8            2.4              0.13           0.31         0.76        0.04           301
     50.8            52.9            2.2              0.11           0.76         1.29        0.05           515
     90.9            98.9            8.0              0.06           0.23         0.55        0.03           216
           including
          93.4             98.9      5.5              0.06           0.16         0.63        0.03           242

    104.4           112.4            8.0              0.06           0.13         0.28        0.01           111
           including
         109.9            112.4      2.4              0.12           0.21         0.54        0.02           210

    133.2           139.3            6.0              0.06           0.13         0.28        0.01           144
           including
         138.0            139.3      1.3              0.08           0.17         0.54        0.03           210

    163.6           169.3            5.7              0.09           0.24         0.28        0.01           119
           including
         163.6            165.4      1.7              0.08           0.24         0.34        0.02           141
         166.5            169.4      2.9              0.10           0.27         0.30        0.01           126

    180.2           186.5            6.3              0.08           0.21         0.34        0.02           139
           including
         185.0            186.5      1.5              0.11           0.25         0.49        0.02           197

    191.8           196.9            5.1              0.09           0.19         0.25        0.01           104
    197.7           204.2            6.5              0.12           0.30         0.61        0.02           241
    222.0           226.7            4.7              0.12           0.19         0.20        0.01            86
           including
         222.0            224.2      2.2              0.13           0.22         0.24        0.01           101





Table 2:   ALF3 Selected drill intersection results at a cut-off of 0.3% Ni over
0.5m


    From           To          Interval           3E            Cu         Ni         Co           GMV
     m*            m*             m*             g/t            %          %          %          US$/t**
    24.4          25.9            1.5            0.20          0.46       1.11       0.05          437
    50.8          52.4            1.6            0.14          0.99       1.64       0.06          654
    94.4          98.9            4.5            0.06          0.17       0.72       0.03          276
         including
        95.4            96.0      0.6            0.10          0.21       1.04       0.04          394
        98.0            98.9      0.9            0.10          0.22       1.16       0.06          444

   109.9          112.4           2.4            0.08          0.15       0.39       0.02          153
   134.4          139.2           4.8            0.06          0.16       0.38       0.02          150
         including
       134.4           136.7      2.3            0.07          0.16       0.39       0.02          154
       138.4           139.2      0.8            0.11          0.19       0.69       0.03          267

   164.5          165.4           0.9            0.10          0.30       0.47       0.02          194
   166.5          167.7           1.3            0.09          0.31       0.39       0.02          161
   180.3          185.9           5.9            0.08          0.22       0.35       0.02          143
         including
       182.7      183.8           1.1            0.10          0.24       0.48       0.02          190
       185.0      185.9           0.8            0.12          0.30       0.69       0.04          275

   192.7          193.7           1.0            0.09          0.17       0.34       0.01          136
   197.7          202.1           4.4            0.11          0.35       0.80       0.03          312



* Apparent thickness

**Prices US$/oz:  Pt 1100; Pd 300; gold 600   US$/t: Ni 35000; Cu  5000; Co
US$20/lb



Colin Bird, CEO of Jubilee commented, 'These significant drilling results
confirm our belief that the Ambodilafa project has substantial nickel and copper
mineralisation. We have now identified a highly prospective target and in the
coming season we will embark on continued exploration work focussing on further
regional mapping, soil sampling, geophysics and drilling.'



Ambodilafa JV Project



Jubilee/MRM have granted Implats, the world's second largest platinum producer
and one of the most efficient platinum group metal metal producers in the world,
the sole exclusive right and option to acquire incrementally an undivided 51%
interest in the Ambodilafa property by funding, in four phases, a total of US$5
million towards exploration. Implats may accelerate this expenditure if it
elects.



Mineralisation is associated with massive, semi-massive, net textured and
disseminated pyrrhotite and chalcopyrite, hosted by pyroxenite, olivine
pyroxenite, peridotite and olivine gabbro lithologies. The textures observed
suggest an orthomagmatic origin to the mineralisation due to primary magmatic
sulphide segregation within an ultrabasic intrusive body.



Borehole ALF3 was sited to confirm and characterise mineralisation previously
reported by the Bureau de Recherches Geologiques et Minieres ('BRGM') during
their 1960's drilling campaign. The original BRGM drill logs and drill core for
this area are not available.



Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, South
Africa, carried out the analyses of the borehole samples. Quality control and
assurance in place currently comprises of standards, blanks and check samples
accounting for between 10% and 20% of samples submitted.



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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