Jubilee Gold Exploration Ltd. announces grant of stock options

TORONTO, March 20, 2013 /CNW/ - Jubilee Gold Exploration Ltd. (TSX.V: JUB) (the "Corporation") announces that it has granted stock options (the "Options") to purchase an aggregate of up to 1,025,000 common shares in the capital of the Corporation at an exercise price of $0.27 per common share pursuant to the Corporation's stock option plan. The Options were granted effective March 20, 2013 to certain directors, officers and employees of the Corporation. The Options will vest immediately and expire 10 years from the date of grant.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Corporation's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Corportion's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE JUBILEE GOLD INC.

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