JOHANNESBURG, July 3 (Reuters) - Braemore Resources Plc:

* Says firm intention by Jubilee to make an offer to acquire the entire issued

and to be issued share capital of Braemore

* Says upon the scheme becoming effective, Braemore will become a wholly owned

subsidiary of Jubilee

* Says if scheme goes through its listing on the London stock exchange and on

the Johannesburg stock exchange will be cancelled

* Says acquisition will create an enlarged mining group with its flagship tjate

platinum project containing a resource of 25 million ounces

* Says the merger will provide the tjate project with add-on smelting and

refining capability

* Says Jubilee will acquire Braemore shares via an all-equity transaction,

which involves the issue of 1 new Jubilee share for every 15.818 Braemore

shares

* Shares in Johannesburg jump more than 6 percent after company announces

takeover; Jubilee shares fall more than 9 percent

((Johannesburg newsroom, +27 11 775 3155))

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