Shares on Issue: 130,579,552Unlisted Options: 4,974,600With...

Shares on Issue: 130,579,552
Unlisted Options: 4,974,600

With doubled production in 3 years, and trebled in 4+ years.

ALSO WITH BENEFITS OF;

MELBOURNE -(Dow Jones)- Jubilee Mines NL (JBM.AU) said Tuesday it has entered into an off-take agreement with BHP Billiton Ltd. (BHP.AU) for the sale of nickel concentrate from its Cosmos operations in Western Australia.

The company's existing one-year off-take agreement with Brazil's CVRD expires on Sept. 30 and the new agreement with BHP Billiton will begin Oct. 1 and run until Sept. 30, 2008.

"We are very pleased to announce this off-take agreement with BHP Billiton following the conclusion of a very competitive bid process for our high-grade nickel concentrate, which is regarded as a premium quality product in world markets," Executive Chairman Kerry Harmanis said in a statement.

The new off-take agreement will cover nickel sulfide production from the AM1, AM2 and Tapinos deposits and first production from Jubilee's new Prospero mine, scheduled to start up in early in 2008.