Mr. Warren Becker reports

JUBILEE GOLD'S CORPORATE UPDATE

Jubilee Gold Exploration Ltd. has provided an update in connection with certain of its corporate assets, namely approximately four kilograms (kg) of gold and 450 ounces (oz) of silver that are held in a safety deposit box at CIBC, to which access has been restricted by CIBC. The matter has not been resolved and Jubilee's board of directors has authorized the company to commence legal proceedings to regain access to the corporate assets. Jubilee will be filing a notice of civil claim in the Supreme Court of British Columbia in Vancouver against Jeffrey Becker and Patti Becker, seeking recourse for recovery of the assets and ancillary relief. The balance of the company's assets are unaffected.

We seek Safe Harbor.