Caledonia Mining Corporation Plc: Resource Update – Sustained Resource Growth at the Blanket Mine

November 5, 2017

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ST HELIER, CHANNEL ISLANDS–(Marketwired – Nov. 2, 2017) – Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) (NYSE American:CMCL)(NYSE MKT:CMCL)(AIM:CMCL)(TSX:CAL) is pleased to announce an increase and upgrade to the resource base at its 49% owned subsidiary, the Blanket Mine in Zimbabwe (“Blanket”).

Based on development and diamond core drilling carried out to the end of August 2017 combined with improvements to the geological model, total Measured and Indicated gold ounces at Blanket have increased by 6% from 671,000 ounces in December 2016 to 714,000 ounces today. Total Measured and Indicated resources now stand at 5.62 million tonnes at a grade of 3.95 grammes per tonne (“g/t”). Inferred gold resources at Blanket have been increased by 47% from 604,000 ounces in December 2016 to 887,000 ounces today. Total Inferred resources now stand at 5.53 million tonnes at a grade of 4.99g/t.

Category: General