Jubilee Metals Regulatory News (JLP)

Registration number (4459850)

JSE share code: JBL

AIM share code: JLP

ISIN: GB0031852162

Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

 30 July 2013

Jubilee Platinum PLC

("Jubilee" or the "Company")

Acquisition of Platinum Australia Ltd ("PLA")

Market Update

Highlights

·; Jubilee successfully concludes a Memorandum of Understanding ("MOU") with Macquarie Bank Limited ("MBL") to provide funding in support of the proposed acquisition of PLA

·; Jubilee and PLA reach agreement to reduce the consideration for the proposed acquisition whereby PLA shareholders will hold 16.5% of the issued share capital of Jubilee following the implementation of the scheme of arrangement (the "Scheme")

Jubilee, the JSE listed and AIM quoted Mine-to-Metals specialist, is pleased to announce the successful negotiation of a MOU with MBL for a US$10.5 million debt facility secured at project level in support of Jubilee's proposed acquisition of PLA under the Scheme.

Jubilee and PLA have further agreed, subject inter alia to the MOU and to PLA shareholder approval, that PLA shareholders will now receive one Jubilee share for approximately every 5.68 PLA shares held calculated at current Jubilee shares in issue - significantly reducing the dilution of Jubilee shareholders following implementation of the Scheme. As such, PLA shareholders will hold 16.5% of the issued share capital of Jubilee following the implementation of the Scheme.

To give full effect to and to formalise this MOU, PLA and Jubilee have agreed to extend the "End Date" in clause 1.1 of the Implementation Deed from 31 July 2013 to 30 September 2013 and the PLA Deed Administrator has adjourned the Scheme meeting called for 30 July 2013 to allow PLA and Jubilee to incorporate the amendments to the Scheme Booklet following both the signing of the MOU and the adjusted scheme consideration.

Leon Coetzer, CEO of Jubilee, said:

"We are delighted to have received such significant backing from MBL - PLA's largest creditor. We are fully focused on completing this acquisition and creating a platinum mining group with the potential to be a significant player within the platinum producers in the world. We are combining strongly complementary assets between Jubilee and PLA that enable us to form a fully integrated Mine-to-Metals company - able to exploit shallow resources in the near term while continuing to develop Tjate in the longer term to the benefit of both Jubilee and existing PLA shareholders.

"While the implementation period has been extended, we are extremely pleased to have significantly reduced the cost and dilution to Jubilee shareholders and look forward to further updating the market in due course."

Contacts

Jubilee Platinum plc

Colin Bird

Tel +44 (0) 20 7584 2155

Leon Coetzer

Tel +27 (0)11 465 1913

Andrew Sarosi

Tel +44 (0) 1752 221937

JSE Sponsor

Sasfin Capital, a division of Sasfin Bank Limited

Angela Teething-Smith/Sharon Owens

Tel +27 (0) 11 809 7500

NOMAD

finnCap Ltd

Matthew Robinson/Ben Thompson - corporate finance

Joanna Weaving - corporate broking

Tel +44 (0) 20 7220 0500

Shore Capital Stockbrokers Limited (Joint Broker)

Jerry Keen/Edward Mansfield

Tel: +44 (0) 20 7 408 4090

Bishopsgate Communications Ltd

Nick Rome/Anna Michniewicz

Tel +44 (0) 20 7562 3350

Notes to Editors

Jubilee Platinum plc is a mining exploration and development company with a primary focus on platinum group elements (PGE). Through recent acquisitions, the Company has added PGE and ferroalloy smelting and refining to its capability. The Company aims to create an integrated mine-to-metals company with a primary focus on platinum. This mission is based on modern and thoroughly-proven smelting technology to process the Company's own and other's high-chrome PGE concentrates and, importantly, to improve mining environments by reprocessing mine tailings dumped by other miners.

Platinum Australia (ASX Code: PLA) owns 65.75% of the Smokey Hills Platinum Mine which is a shallow underground operation capable of producing up to 80,000oz 4E PGM per annum. Due to prevailing low metal prices the mine was placed on care and maintenance in September 2012. It is currently planned to commence treating chrome tailings through the Smokey Hills processing plant in 2013 and dependent on metal prices, to restart underground mining operations during 2014. The mine would be expected to ramp up to a production level of approximately 60,000 oz PGM per annum.

 PLA has two other advanced shallow PGM projects in South Africa, the Rooderand Platinum Project (PLA earning 70% from Atla Mining) and the Kalahari Platinum (PLA earning 49% from ARMplatinum).