Hernic Operations Update for October 2017

Jubilee Platinum Plc

 ("Registration number: 4459850")

AIM share code: JLP

AltX share code: JBL

ISIN: GB0031852162 

 ("Jubilee" or "the Company")

Hernic Operations Update for October 2017

Highlights

· The Hernic PGM Project continues to step up production reaching 45 596 tonnes processed for October 2017

· PGM1 ounces production increased by 22 % month-on-month to 1 427 ounces

· Project revenue2 increased by 18 % month-on-month to GBP 0.76 million (22 % to ZAR 13.77)3

· Project earnings4 increased by 47 % month-on-month to GBP 0.37 million (52 % to ZAR 6.65 million)

· Unit cost per PGM ounce produced continues to reduce achieving USD 406

1 = Precious Group Metals (platinum, palladium, rhodium, iridium, ruthenium, and gold)

2= Revenue from the current project phase - 100% attributable to Jubilee until full capital recovery. Revenue is projected based on latest average PGM market prices and USD exchange rates and results are only final once final Quotational Period has passed

3= Average monthly conversion rates used

4= Project Earnings include all incurred operational costs including management services and mineral royalties

CEO, Leon Coetzer, commented:

"The Hernic project continues to deliver excellent results as we step up the throughput during the final optimisation of the operation.

Our October results illustrate the significant improvement in operational performance during this optimisation phase which we expect to continue over the next quarter.

I am particularly delighted by the earnings margin that the project is already achieving with a unit cost of only USD 406 making the Hernic project one of the lowest cost PGM producers in the industry."

HERNIC OVERVIEW

The Hernic operations' performance improved significantly, which is in-line with the current focus on process optimisation as part of the final phase of the project execution. As stated previously we expected a further step increase in operational performance during Q4 2017 with the increase in feed material to the processing plant. The October results confirm this continued step improvement for Q4 2017 with a 22% increase in PGM ounce production resulting in a project unit cost per PGM ounce produced of USD 406.

The table below presents the comparative performance of the Hernic operation for Q3 2017 and the month of October 2017:

1= Revenue from the current project phase - 100% attributable to Jubilee until full capital recovery. Revenue is projected based on latest average PGM market prices and USD exchange rates and results are only final once final Quotational Period has passed

2= Average monthly conversion rates used

3= Project Earnings include all incurred operational costs including management services and mineral royalties

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The financial information in this announcement is unaudited.

United Kingdom

20 November 2017

Contacts

Jubilee Platinum PLC

Colin Bird/Leon CoetzerTel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913Andrew SarosiTel +44 (0)1752 221937

JSE Sponsor

Sasfin Capital, (a member of the Sasfin group)Sharon OwensTel +27 (0)11 809 7500

Nominated Adviser

SPARK Advisory Partners LimitedMark Brady/Andrew EmmottTel: +44 (0)203 368 3551

Broker

Beaufort Securities LimitedJon BellissTel: +44 (0) 20 7382 8300