Market Update

Jubilee Metals Group PLC

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or "the Company")

Market Update

Highlights

· Hernic Project exceeds 2 500 PGM* ounces produced in a single month during October 2018

· The Hernic Project perfectly positioned to benefit from increased metal prices for Palladium and Rhodium forming part of the PGM basket

* 6 Element Platinum Group Metals

Leon Coetzer, Chief Executive Officer, says:

"It is very gratifying to see our Hernic project deliver and exceed even on its stretched design targets so early in the project's life cycle. The project has breached, for the first time, 2 500 PGM ounces produced in a single month. This strong performance continues to favour Jubilee to benefit from the strong palladium and rhodium prices which forms part of the PGM basket produced at Hernic.

The current Q4 is yet another exciting period for Jubilee with the expected commissioning of the state of the art Dilokong Fine Chrome project as well as the PlatCro PGM project.

I look forward to providing further updates to our shareholders on these exciting projects as well as the progress made at our Kabwe project. "

United Kingdom

5 November 2018

 Contacts

Jubilee Metals Group PLC

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

Nominated Adviser

SPARK Advisory Partners LimitedMark Brady/Andrew EmmottTel: +44 (0) 203 368 3555

Broker

Shard Capital Partners LLPDamon Heath/Erik WoolgarTel +44 (0) 20 7 186 9900

JSE Sponsor

Sasfin Capital (a member of the Sasfin group)

Sharon OwensTel +27 (0) 11 809 7500