Update on Tjate

Jubilee Platinum PLC
04 August 2006


4th August 2006
AIM: JLP

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

         Borehole DT7 Intersects Consistently High-Grade Merensky Reef
                       on the Tjate Project, South Africa


Jubilee announces results for its borehole DT7 on the Dsjate farm ('Tjate
Project') in the Bushveld Complex of South Africa.  The borehole was
significantly stepped out some 200 metres further east and up dip on reef of the
most easterly boreholes DT2 and DT4.


Highlights

•    Merensky reef intersected at a depth of 722.5 metres

•    The reef showed a weighted average (mother hole plus three deflections) of 
     7.08g/t 4E (platinum, palladium, rhodium and gold) over apparent 82 
     centimetres reef thickness

•    Maximum grade of 11.75 g/t 4E in one deflection over apparent 89 
     centimetres reef  thickness

•    Average 1.73 platinum to palladium ratio

•    Average grade and reef thickness is consistent with the overall average of 
     7.00g/t 4E over apparent reef thickness of 82 centimetres established for 
     the seven holes drilled
     
•    Results confirm excellent consistency and continuity of reef dip and
     extension of reef horizon

•    Valuable average copper and nickel values of 0.21% nickel and 0.14% copper


Detailed results for borehole DT7 are shown in Table 1 below:


Table 1            DT7 Results for Merensky reef intersection

                                Apparent        4E        Pt        Pd       Rh       Au       Ni       Cu      Pt:Pd
                                thickness       g/t       g/t      g/t      g/t      g/t       %        %       ratio
                                  (cm)
Motherhole                         80          5.30      2.87      1.69     0.14     0.60     0.21     0.17      1.7
Deflection1                        89          11.75     7.20      3.50     0.29     0.76     0.20     0.13      2.1
Deflection 2                       80          4.73      2.51      1.62     0.14     0.46     0.20     0.14      1.6
Deflection 3                       77          5.95      2.98      2.27     0.17     0.53     0.24     0.13      1.3
Weighted average                   82          7.08      3.99      2.31     0.19     0.59     0.21     0.12      1.7


Colin Bird, CEO of Jubilee and Tjate Project Manager, said: 'These latest
results confirm the reef dip and provide us with the comfort of having
established to date consistent high grade results, combined with good reef
thickness, for the Tjate project.  Our scoping study, which is near completion,
will be updated to incorporate this latest important data.'

The Dsjate farm is one of three contiguous farms in the Tjate project, which
comprises a total of 5,143 hectares, with an inferred resource of 282 million
tonnes containing 66 million ounces of 5 PGE (platinum group elements: platinum,
palladium, rhodium, iridium and ruthenium) and gold, of which 22.8 million
ounces are attributable to Jubilee.

Jubilee has a 25% stake in Tjate and is currently earning in a further 10%
interest by expending ZAR14 million towards a bankable feasibility study.

SGS Lakefield Research Africa in Johannesburg carried out the analyses of the
borehole core samples.  This laboratory is SNAS TO169 accredited.


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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