TIDMCMCL

Caledonia Mining Corporation PLC

01 December 2016

Caledonia Mining Corporation Plc

Confirmation of Arrangements for the

Sale of Gold

(TSX: CAL, OTCQX: CALVF, AIM: CMCL)

1 December, 2016: Caledonia Mining Corporation Plc ("Caledonia" or the "Company") confirms that, following the recent introduction of "Bond Notes" by the Reserve Bank of Zimbabwe ("RBZ"), there is no change to the settlement system in place for Blanket Mine in Zimbabwe for its gold sales.

Since January 2014, Blanket has sold all of its gold production to Fidelity Printers and Refiners Limited ("Fidelity"), which is a subsidiary of the RBZ. Blanket has received all sale proceeds within 48 hours of delivery to Fidelity in US dollars at a price which is 98.75% of the London afternoon "fix" on the day after delivery to Fidelity.

In terms of its continuing disclosure obligations, Caledonia would announce any change in the terms on which Blanket sells its gold production.

For further information please contact:

 
 Caledonia Mining Corporation        WH Ireland 
  Plc                                 Adrian Hadden/Nick Prowting 
  Mark Learmonth - CFO                Tel: +44 20 7220 1751 
  Tel: +44 1534 702 998 
  marklearmonth@caledoniamining.com 
 Maurice Mason - Investor            Blytheweigh 
  Relations                           Tim Blythe/Camilla Horsfall/Megan 
  Tel: +44 759 078 1139               Ray 
  mauricemason@caledoniamining.com    Tel: +44 20 7138 3204

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 01, 2016 02:01 ET (07:01 GMT)

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