Sierra Leone - Update

Jubilee Platinum PLC 27 April 2004 27 April 2004 Jubilee Platinum Completes Phase One Geological Reconnaissance Programme on its York Platinum Project in Sierra Leone - Length Of Previously Known Platinum Mineralised Reef Extended by 3km - Parallel Mineralised Reef Horizon Discovered Jubilee Platinum plc ('Jubilee' or 'the Company'), the AIM quoted mining group (AIM: JLP), has completed phase one of its geological reconnaissance programme on the York platinum group metals ('PGM') project in Sierra Leone. Jubilee carries an 80% interest on the York project, with the remainder being held by Golden Prospect, a diversified investor in the natural resources sector (AIM: GOL). Overall, the results indicate an extension of the previously identified 2m wide platinum (Pt) / palladium (Pd) mineralised reef like horizon from 5.3km to 8.5km length along strike and have discovered a parallel reef horizon of mineralisation 1.2km length along strike. The programme comprised geological reconnaissance, ground magnetometry traversing and soil sampling, trenching / pitting and stream sediment sampling, with the primary objective of extending strike length of a known mineralised platinum bearing reef like horizon. As the platinum mineralisation is found in a layered association with units rich in iron minerals, a magnetometer was used to identify these horizons and thus allow selective sampling of rock and soil. • Topographic highs (raised ridges) associated with the previously identified mineralisation can be traced over a strike length of 8.5km • Mineralisation is recorded on both the most northerly line 03/04 and the southerly line 05/04, and continuation of mineralisation is inferred • A new trench yielded up to 0.44 g/t Pt in highly weathered, laterised rock, whilst soils showed anomalous values up to 0.35 g/t • A second parallel belt of mineralisation, 2km to the east of the main band around Monomo, has been discovered and traced over a strike length of 1.2km and remains open ended Colin Bird, Chief Executive of Jubilee, commented 'This is an encouraging result on what is a rare example of the classic environment for platinum group metals. We will progress our exploration and follow-up work will be commissioned to delineate further targets for drilling on this prospective project.' Ends For further information please contact: Colin Bird Justine Howarth / Cathy Malins Jubilee Platinum plc Parkgreen Communications Ltd Tel020 7584 2155 Tel 020 7287 5544 www.jubileeplatinum.com Notes To Editors: The York licence covers the central part of the Freetown Layered Gabbro Complex. This is a layered sequence of gabbroic and troctolitic rocks with some of the cyclical units having anomalous platinum, palladium, chromium, vanadium, nickel and copper mineralisation. Previous exploration (carried out by Golden Prospect and others) showed values of up to 0.57 g/t platinum, with one repeat assay up to 0.84 g/t, in weathered bedrock and palladium values up to 0.12 g/t. Golden Prospect's work traced this mineralisation over a strike length of 5.2km and noted that the mineralisation commonly, but not always, occurred in more resistant cyclical units of pyroxene troctolites, which outcrop at surface in the form of raised ridges. Polished sections of rocks studied previously have shown sulphide mineralisation, especially chalcopyrite, phyrrhotite and minor pentlandite, with associated ilmenite and magnetite. The primary platinum mineral is generally cooperite, a mineral commonly found in the Merensky platinum bearing reefs of the Bushveld Complex in South Africa. This programme has extended the length of the known PGM reef like horizon, confirmed previous exploration by Golden Prospect and discovered a parallel mineralised reef horizon. The Company considers the York Licence area to be highly prospective for PGMs. Further work including trenching, pitting and limited drilling is needed to establish evidence of primary mineralisation at depth and to determine if this occurs in economic volume or grade. This information is provided by RNS The company news service from the London Stock Exchange