This drilling programme forms part of Phase two of the feasibility study that commenced in early 2008.

Highlights
• The drilling programme for Phase two of the feasibility study has now been completed;

• All 13 boreholes intersected the Merensky Reef (MR), (of which 2 intersected pothole facies), at
expected projected depths (from plain elevation), with grades and thicknesses generally in line with
the variability expected for this reef;

• Borehole DT35 intersected high assays in the motherhole MR (10.43 g/t 3PGE + Au) (combined
platinum, palladium, rhodium and gold), 0.35% nickel (Ni) and 0.21% copper (Cu) over 0.99

metres – further results awaited from additional deflection drilling;

• Borehole DT40 intersected MR averaging 3.04 metres thick and assaying 6.71 g/t 3PGE+Au with
0.16% Ni and 0.10% Cu – further deflection results awaited;

• Boreholes DT30 and DT33, intersected specifically targeted UG2 chromitite (UG2) reef at projected
depths with higher than expected grades of up to 7.8g/t 3PGE+Au; and

• Borehole FF01, which tested continuity of MR in the adjacent down dip farm Fernkloof, intersected
MR at approximate target depth (1,597m down hole from collar).

Colin Bird, CEO of Jubilee and Tjate Project Manager said: “These new results continue to confirm the
continuity at depth of the Merensky and UG2 reefs. The lower grades seen in some of the new borehole
results correlate generally with a regional pothole within a lower grade area confined to the northwest of the farm Dsjate. The effect of this area will be considered in the options when delineating the resource and
defining a resource estimate. The drilling programme for the second phase of the feasibility study was
completed this month and the project is now rapidly advancing towards a definitive compliant mineral
resource estimate.”