Jubilee Metals Regulatory News (JLP)

13 October 2011

AIM: JLP

JSE: JBL

Registration number: 4459850

ISIN: GB0031852162

JUBILEE PLATINUM PLC

("Jubilee" or the "Company")

Issue of Equity

The Company is pleased to announce a placing of 31,585,714 new ordinary shares of 1 pence each in the Company (the "Placing Shares") to raise GBP 4.422 million. The Placing Shares have been placed jointly by Shore Capital Stockbrokers Limited and finnCap Limited as agents to the Company, subject to the admission of the shares to trading on AIM market of the London Stock Exchange ("AIM") and the JSE Limited ("JSE"), with major institutional investors at a price of 14.00 pence per share (ZAR1.72).

The proceeds of the placing will be used, together with existing cash resources, to support growth within the Company's strategic business areas, through which Jubilee is implementing its mine-to-metals strategy.

The Company expects the Placing Shares to be admitted to trading on AIM and the JSE on 18 October 2011. Following the placing, the total issued share capital of the Company will be 288,121,806. The Company holds no ordinary shares in treasury. Therefore, following the placing, the total number of voting rights in the Company will be 288,121,806. 

The Placing shares will be placed with public shareholders and will rank pari passu with the existing shares in issue of Jubilee.

Leon Coetzer, Chief Executive Officer of Jubilee Platinum said, "The Board of Jubilee is pleased with the support shown by our major shareholders and we welcome new shareholders as we continue with implementation of our mine-to-metals strategy."

PRO FORMA FINANCIAL EFFECTS

At the annual general meeting of the Company held on 26 November 2010, the requisite majority of Jubilee shareholders approved an ordinary resolution authorising the directors to issue shares for cash in accordance with the Listings Requirements of the JSE ("general authority"). In accordance with the general authority, the Company has successfully placed the Placing Shares with institutional investors raising £4.422 million.

The unaudited pro forma financial effects of the issue of new ordinary shares in terms of general authority, based on the published reviewed financial results of Jubilee for the twelve months to 31 June 2011, are set out below. The financial effects have been prepared in accordance with the terms of the Listings Requirements of the JSE Limited, are for illustrative purposes only and due to their nature, may not truly reflect Jubilee's financial position or results of operations. The directors of Jubilee are responsible for the preparation of the unaudited pro forma financial effects

Notes:

1. The figures in the before column are extracted from the published reviewed results of Jubilee for the twelve month to 30 June 2011. The shares in issue include 2,072,802 shares issued in terms of the general authority prior to 30 June 2011

2. The figures in the After placing column assume that:

·; 31,585,714 new Jubilee shares issued in terms of the general authority on 24 November 2010 at 14p were in issue from 1 July 2011 for loss per share and headline loss per share purposes and the cash received on 10 October 2011 for net asset value per share and tangible net asset value per share purposes; and

·; The Placing Shares issued in terms of the general authority were in issue from 1 July 2011 for loss per share and headline loss per share purposes and the cash received on 10 October 2011 for net asset value per share and tangible net asset value per share purposes;

For further information please contact:

Colin Bird/Leon Coetzer

Jubilee Platinum plc

Tel +44 (0) 20 7584 2155 / Tel +27 (0)11 465 1913

Andrew Sarosi

Jubilee Platinum plc

Tel +44 (0) 1752 221937

Matthew Robinson/Rose Herbert - corporate finance

Joanna Weaving - corporate broking

finnCap Ltd

Tel +44 (0) 20 7600 1658

Shore Capital Stockbrokers Limited (Joint Broker)

Jerry Keen/ Edward Mansfield

Tel: +44 (0) 20 7 408 4090

Leonard Eiser/Sharon Owens

Sasfin Capital

Tel +27 (0) 11 809 7500

Nick Rome/Shabnam Bashir

Bishopsgate Communications Ltd

Tel +44 (0) 20 7562 3350