Caledonia Mining Corporation (CMCL)

[NYBob]

Caledonia Mining Corporation Plc (TSX: CAL; OTCQX: CALVD; AIM: CMCL)
Caledonia’s shares to commence trading on the NYSE American (formerly the NYSE MKT) -
St Helier, July 24, 2017:

Caledonia Mining Corporation Plc (the "Company" or “Caledonia”) is
pleased to announce that the New York Stock Exchange (“NYSE”) has
approved the listing of the Company’s common shares on
the NYSE American stock exchange.

http://www.caledoniamining.com/pdfs/Press%20Release%20-%20Listing%20on%20NYSE%20AMERICAN.pdf

The Company expects that its common shares will begin trading on
the NYSE American on July 27, 2017 under the trading ticker
symbol “CMCL”.

The Company remains listed on the Toronto Stock Exchange (“TSX”)
under the symbol “CAL” and depositary interests in the common
shares remain admitted to trading
on AIM of the London Stock Exchange plc under the symbol “CMCL”.

The trading of the Company’s common shares on the OTCQX
under the symbol “CALVD” is expected to cease upon the commencement
of trading on the NYSE American.

Steve Curtis, CEO, stated “This listing for the Company on
the NYSE American is another significant step for Caledonia which
joins some of the world’s best-known gold and precious metals companies
with a listing on this prestigious US exchange.

This further step in the development of Caledonia’s corporate status
has taken place against the backdrop of continued
progress on our major operational development projects, principally
the sinking of the Central Shaft at the Blanket Mine in Zimbabwe.

The Central Shaft, which is being funded from Blanket’s internal
resources, is expected to fundamentally change the nature of
Blanket’s operations by improving operating efficiencies and
providing access to deeper levels for exploration,
development and production.

Completion of the Central Shaft remains on schedule for
the fourth quarter of 2018.

The listing on the NYSE American is intended to provide
the Company with greater access to US institutional and
retail investors which in turn is hoped will result
in better overall trading liquidity,
a lower cost of capital and other benefits
for Caledonia and its shareholders”.

About Caledonia
Following the implementation of indigenisation in Zimbabwe in September
2012, Caledonia’s primary asset is a 49% interest in
an operating gold mine in Zimbabwe (“Blanket Mine”).

Blanket Mine plans to increase production from 50,351 ounces in 2016
to approximately 80,000 ounces in 2021.

Blanket Mine’s target production for 2017 is 52,000 to 57,000 ounces.

Caledonia expects to publish its results for the quarter to
June 30, 2017 on or about August 14, 2017.

Caledonia’s current dividend policy is to pay a quarterly dividend which
is currently 6.875 cents per share, or 27.5 cents per share on an
annualised basis.

For further information please contact:
Caledonia Mining Corporation Plc
Mark Learmonth
Maurice Mason
Tel: [phone]
Tel: [phone]

http://www.caledoniamining.com/pdfs/Press%20Release%20-%20Listing%20on%20NYSE%20AMERICAN.pdf

http://www.caledoniamining.com


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