Madagascar Drilling Update

Jubilee Platinum PLC
14 November 2007

14 November 2007




AIM: JLP

JSE: JBL



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


             Madagascar - Drilling Update at Londokomanana Project

       New Nickel-PGE Mineralisation Discovered In Northern Londokomanana





Highlights:



•         Initial drilling in the previously untested Mavoandro ultramafic
formation intersects mineable widths of disseminated nickel (Ni) sulphide with
platinum group element (PGE) mineralisation.



•         Borehole MAV002 intersects 2 metres at 0.48% Ni and 0.56g/t
platinum+palladium+gold (3E), 3 metres at 0.6g/t (3E) and 5 metres at 0.23% Ni
and 0.7g/t 3E   within a mineralised disseminated sulphide zone of 69 metres
(from 37m to 106m) assaying a weighted average of 0.16% Ni and 0.12 g/t 3E



•         This discovery extends significantly the aggregate strike length of
mineralised ultramafic formations in the Londokomanana/Lavatrafo licences by
some 4 kilometres to a total 16 kilometres.



•         Thick widths of shallow mineralisation confirm the Company's belief
that Londokomanana is a potential bulk-mining target.



Jubilee announces encouraging results from borehole MAV002, which was drilled in
the Mavoandro prospect, a previously untested ultramafic extension 8 kilometres
to the north of the Antsahabe prospect in Londokomanana. The borehole
intersected mineable widths of 2 metres at 0.48% Ni and 0.56g/t 3E (from 40.6m
to 43,6m), 3 metres assaying 0.6g/t 3E (from 66m to 109m) and 5 metres assaying
0.23% Ni and 0.7 g/t 3E (from 101m to 106m) at shallow depth within a 69 metre
(from 37m to 106m) run of disseminated nickel sulphide mineralisation assaying
0.16% Ni with 0.12g/t 3E.



This borehole targeted coincident electromagnetic conductivity and geochemical
copper anomalies. The Mavoandro ultramafic formation lies some 8 kilometres
north along strike of the mineralised ultramafics at Antsahabe, where previously
announced drilling intersected two zones of 48 metres and 32 metres respectively
of excellent sulphide mineralisation. Relatively high magnesium oxide levels 
( >20%) determined in whole rock analysis of drill core samples from Mavoandro
suggest a komatiitic lithology for these ultramafics and the possibility is
inferred of basal sulphide mineralisation in this formation. The mineralised
formations at Mavoandro, Antsahabe and Lavatrafo lie on a north - south striking
trend some 40 kilometres long.



Colin Bird, CEO of Jubilee commented, 'The discovery of new mineralisation in
the Mavoandro prospect, which had shown favourable coincident geochemical and
geophysical anomalies extends the aggregate strike length of mineralised
formations in the Londokomanana/Lavatrafo licence area a significant further 4
kilometres to a total of 16 kilometres.  This initial drilling result now
suggests the existence of a potentially new Ni-PGE mineralised zone and we await
the results of further assays from current drilling in the area.'



Borehole MAV002 - Selected results


  intersection          From                To              Interval              Ni                3E

                       metres             metres             metres                %                g/t
Total                    37                106                 69                0.16              0.12
       Including               41.6               43.6                 2.0              0.48              0.56
       including               65.6               68.7                 3.1              0.08              0.59
       including              101.6              106.7                 5.1              0.23              0.71





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





Note to Editors



The Londokomanana project is a joint venture with TransAsia Minerals Limited,
who has the right to earn-in 51% of the project in return for an expenditure of
US$7 million. TransAsia has an option of first right of refusal over Jubilee's
Lavatrafo prospect, which is located south of and adjacent to the Londokomanana
licence.







For further information please contact:



Colin Bird                                   Louise Goodeve /Justine Howarth
Jubilee Platinum plc                         Parkgreen Communications Ltd
Tel: [phone]                           Tel + 44 20 7851 7480




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