Update from Madagascar

Jubilee Platinum PLC
06 October 2005

6th October 2005

AIM: JLP

                              JUBILEE PLATINUM PLC

                          ('Jubilee' or 'the Company')



     Second Borehole Confirms Continuity of Recent Discovery in Madagascar



Jubilee announces the results of its second borehole LAV2A, drilled on the
Lavatrafo property (Londokomanana Project) in Madagascar. The Lavatrafo deposit
is the southern unit of two currently disparate nickel-copper-platinum-palladium
deposits that fall within the Londokomanana concession held by Mineral Resources
of Madagascar Sarl, Jubilee's 85% owned subsidiary. This borehole was stepped
out 150 metres southeast of borehole LAV1. The Londokomanana project is located
approximately 150 kilometres north of the Madagascan capital Antananarivo.



Highlights



•      Multi-metal intersection in the second borehole confirms continuity
       along strike of formation



•      The 75-metre true width of mineralization lends itself to low cost
       bulk mining



•      Mineralization is consistent with that identified in borehole LAV1 -
       as reported on 5th September 2005



•      In-situ gross metal value (GMV) of the intersection is US$52/t rock or
       1.32% Cu equivalent at current metal prices



•      Intersections of higher GMV include 20 metres at US$98 per tonne rock
       and 43.8 metres at $77/tonne rock.



•      These results compare favourably with bulk mining projects currently
       being developed world-wide



Results of the full 92 metres (from 72 to 164 metres) apparent width of
mineralised intersection are appended and selected intercepts summarised below:




  From metres         To          Intercept       Nickel        Copper          3E*          % Cu      In-situ GMV $/
                                                                                                       t (at current
                    metres          metres           %             %            g/t         equiv.        prices)


     72.35          164.05           91.7          0.26          0.14          0.66          1.32            52
     82.35          162.05           79.7          0.29          0.16          0.73          1.46            57
     115.0           158.8           43.8          0.40          0.25          0.80          1.95            77
     136.1           156.2           20.1          0.52          0.33          0.92          2.49            98

*3E platinum, palladium, gold





The continuity of the formation, its strike direction and the lithology of the
host and contact rocks generally correlate well with the geophysical data
generated in our earlier exploration. A stratigraphic sequential pattern of
lithologies is emerging, and it is anticipated that this pattern will direct the
drilling in several formations in the vicinity, showing similar geophysics
further to the south and to the north of the current drilling programme.



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



Colin Bird, CEO of Jubilee, said: 'The results of this step out hole have
confirmed our prediction of the continuity of a wide mineralised package at
Lavatrafo. Assuming this formation continues, we are potentially looking at a
large open-pit mineable bulk deposit, at an $11/t cut-off. Our immediate
objective is to delineate the strike of the formation and then prove up the
model. We believe that the results could lead to Lavatrafo becoming a
significant mining region and we will report further on our drilling programme
as soon as possible.'





Ends







For further information please contact:

Colin Bird                                      Cathy Malins / Annabel Leather
Jubilee Platinum plc                            Parkgreen Communications Ltd
Tel: [phone]                              Tel [phone]






Appendix


                                 Lavatrafo drill results - Borehole LAV2A
                                                                                Grade
     Sample           From           To        Interval      Au        Pt        Pd        Ni        Cu
       no.           metres        metres       metres       ppm       ppm       ppm       ppm       ppm
      S7469           72.35        73.35         1.00       0.01      0.16      0.12       856       94
      S7471           73.35        74.35         1.00      <'0.01     0.23      0.14       961       46
      S7472           74.35        75.35         1.00      <'0.01     0.11      0.07      1244       38
      S7473           75.35        76.35         1.00      <'0.01     0.07      0.06      1168       42
      S7474           76.35        77.35         1.00      <'0.01     0.03      0.05      1120       47
      S7475           77.35        78.35         1.00      <'0.01     0.05      0.06      1065       38
      S7476           78.35        79.35         1.00      <'0.01     0.05      0.04      1078       38
      S7477           79.35        80.35         1.00      <'0.01     0.10      0.17      1258       96
      S7478           80.35        81.35         1.00      <'0.01     0.01      0.01      1327       45
      S7479           81.35        82.35         1.00       0.01      0.13      0.17      1302       92
      S7481           82.35        83.24         0.89       0.06      0.38      0.40      1932       241
      S7482           83.24         83.7         0.46      <'0.01     1.51      1.72      1877       396
      S7483           83.70        85.78         2.08       0.02      0.10      0.09       291       112
      S7484           85.78        86.83         1.05      <'0.01    <'0.01    <'0.01      236       47
      S7485           86.83        87.83         1.00      <'0.01     0.58      0.04       340       47
      S7486           87.83        88.83         1.00      <'0.01     0.36      0.04       165       39
      S7487           88.83        89.83         1.00      <'0.01     0.44      0.24       259       39
      S7488           89.83        90.62         0.79      <'0.01     0.18      0.16       293       65
      S7489           90.62        91.69         1.07      <'0.01     0.37      0.23      1187      1051
      S7491           91.69        92.71         1.02      <'0.01     0.08      0.09       133       74
      S7492           92.71        93.71         1.00       0.02      0.12      0.15      1814       285
      S7493           93.71         94.6         0.89       0.07      0.36      0.36      1735       393
      S7494           94.60         95.6         1.00       0.09      0.38      0.41      1795       412
      S7495           95.60         96.6         1.00       0.11      2.35      1.02      1716       483
      S7496           96.60         97.2         0.60       0.25      0.36      0.39      1672       225
      S7497           97.20        98.46         1.26       0.18      0.33      0.36      1503       307
      S7498           98.46        99.46         1.00       0.12      0.31      0.40      6908       627
      S7499           99.46        100.46        1.00       0.17      0.38      0.38      1930       208
      S7001          100.46        101.21        0.75       0.07      0.50      0.60       173       85
      S7002          101.21        101.54        0.33       0.02      0.12      0.11      2475      1276
      S7003          101.54        101.89        0.35       0.07      0.28      0.36      2010       997
      S7004          101.89        102.24        0.35       0.02      0.17      0.20      2874      1650
      S7005          102.24        102.77        0.53       0.02      0.17      0.16      3006      2262
      S7006          102.77        103.66        0.89       0.03      0.11      0.10      2840      1612
      S7007          103.66        104.42        0.76       0.03      0.17      0.13      2035       943
      S7008          104.42        105.52        1.10       0.03      0.14      0.15      1713       809
      S7009          105.52        105.96        0.44       0.03      0.13      0.13      1720       444
      S7011          105.96        106.96        1.00       0.09      0.23      0.25       64        43
      S7012          106.96        107.96        1.00       0.07      0.35      0.38      2224      1678
      S7013          107.96        108.96        1.00       0.16      0.56      0.37      1022       74
      S7014          108.96        109.96        1.00       0.02      0.12      0.12       266       53
      S7015          109.96        110.44        0.48       0.11      0.09      0.08       705       121
      S7016          110.44        110.79        0.35       0.02      0.14      0.05       911       341
      S7017          110.79        111.72        0.93      <'0.01     0.03     <'0.01      352       50
      S7018          111.72        112.31        0.59       0.02      0.44      0.44      4175      1251
      S7019          112.31        112.68        0.37       0.21      0.16      0.17      2331      2033
      S7021          112.68        113.31        0.63       0.13      0.21      0.21      2342      1483
      S7022          113.31        114.11        0.80       0.11      0.26      0.26      2044      1412
      S7023          114.11        114.95        0.84       0.17      0.17      0.18       516       397
      S7024          114.95        115.82        0.87       0.10      0.20      0.21      2764      1408
      S7025          115.82        116.62        0.80       0.15      0.18      0.20      2935      1953
      S7026          116.62        117.45        0.83       0.10      0.16      0.19      2461      1129
      S7027          117.45        118.5         1.05       0.16      0.36      0.41      3198      2386
      S7028          118.50        119.3         0.80       0.04      0.19      0.23      2551       869
      S7029          119.30        120.1         0.80       0.08      0.25      0.27      2969      1308
      S7031          120.10        121.01        0.91       0.09      0.41      0.44      3813      1707
      S7032          121.01        121.3         0.29       0.39      0.15      0.16      1618      5090
      S7033          121.30        122.1         0.80       0.14      0.31      0.31      3492      2028
      S7034          122.10        122.86        0.76       0.14      0.31      0.35      3940      2057
      S7035          122.86        123.5         0.64       0.17      0.57      0.49      3907      2757
      S7036          123.50        124.7         1.20       0.11      0.24      0.28      3142      1568
      S7037          124.70        125.97        1.27       0.08      0.21      0.25      2859      1154
      S7038          125.97        126.74        0.77       0.10      0.23      0.28      3122      1566
      S7039          126.74        127.23        0.49       0.16      0.33      0.40      3668      2167
      S7041          127.23        128.28        1.05       0.11      0.23      0.29      2786      2143
      S7042          128.28        129.66        1.38       0.08      0.22      0.23      2660      1052
      S7043          129.66        130.63        0.97       0.05      0.26      0.28      2366       715
      S7044          130.63        130.96        0.33       0.04      0.09      0.10      2119       544
      S7045          130.96        131.96        1.00       0.12      0.43      0.48      3124      1421
      S7046          131.96        132.96        1.00       0.08      0.38      0.42      3178      1182
      S7047          132.96        133.96        1.00       0.15      0.40      0.47      3557      2029
      S7048          133.96        134.96        1.00       0.14      0.24      0.33      2988      1213
      S7049          134.96        135.66        0.70       0.10      0.21      0.27      2811      1118
      S7051          135.66        136.11        0.45       0.02      0.20      0.24      2672       551
      S7052          136.11        136.73        0.62       0.09      0.40      0.55      4061      1772
      S7053          136.73        137.75        1.02       0.02      0.22      0.29      2820       618
      S7054          137.75        138.62        0.87       0.07      0.24      0.29      2833      1036
      S7055          138.62        139.97        1.35       0.09      0.40      0.44      2972      1069
      S7056          139.97        140.55        0.58       0.13      0.51      0.48      3887      1746
      S7057          140.55        140.98        0.43       0.09      0.43      0.47      3824      1762
      S7058          140.98        142.05        1.07       0.09      0.29      0.27      3265      1718
      S7059          142.05        143.38        1.33       0.07      0.40      0.28      3389      1360
      S7061          143.38        144.03        0.65       0.03      0.22      0.24      3792       942
      S7062          144.03        144.72        0.69       0.02      0.26      0.26      3013       800
      S7063          144.72        145.72        1.00       0.20      0.37      0.32      4130      2972
      S7064          145.72        146.72        1.00       0.45      0.36      0.33      5028      5841
      S7065          146.72        147.72        1.00       0.10      0.42      0.36      5943      3852
      S7066          147.72        148.72        1.00       0.06      0.32      0.29      5195      2290
      S7067          148.72        149.72        1.00       0.09      0.41      0.37      5443      2684
      S7068          149.72        150.72        1.00       0.16      0.44      0.48      5136      4374
      S7069          150.72        151.72        1.00       0.13      0.33      0.54      6919      3437
      S7071          151.72        152.72        1.00       0.36      0.21      0.50      7958      4736
      S7072          152.72        153.72        1.00       0.08      0.50      0.53      14071     4852
      S7073          153.72        154.37        0.65       0.05      0.35      0.49      8823      5504
      S7074          154.37        155.42        1.05       0.41      0.67      0.40      6642      6638
      S7075          155.42        156.2         0.78       0.14      0.89      0.45      4676      13235
      S7076          156.20        156.79        0.59       0.43      0.11      0.17      1717      5997
      S7077          156.79        157.72        0.93       0.47      0.33      0.25      3781      4752
      S7078          157.72        158.82        1.10       0.08      0.08      0.11      2193      1940
      S7079          158.82        159.93        1.11       0.09      0.18      0.16       859      1742
      S7081          159.93        161.05        1.12       0.04      0.22      0.21      1808       878
      S7082          161.05        162.05        1.00       0.04      0.20      0.17      2292       711
      S7083          162.04        163.05        1.00       0.04      0.16      0.16      1642       679
      S7084          163.05        164.05        1.00       0.08      0.10      0.10      1109       754
      S7085          164.05        165.05        1.00       0.04      0.03      0.04       323       281
      S7086          165.05        166.16        1.11       0.06      0.05      0.06       276       347




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