Caledonia Mining Corporation Plc ("Caledonia" or the "Company") (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces that it received notification on January 13, 2023 from Sales Promotion Services SA, a "significant shareholder" of the Company as defined by the AIM Rules for Companies, of a relevant change in its holding.

Upon the recent completion of the transaction to acquire Bilboes Gold Limited (see announcement by the Company on January 6, 2023), the Company issued 4,425,797 new shares representing 25.64 per cent of Caledonia’s fully diluted share capital. The Company now has three new significant shareholders, as set out in the announcement, and, as a consequence, Sales Promotion Services SA has notified the Company that its percentage interest in the fully diluted share capital has decreased from 4.03% to 3.197%.

Enquiries:

Caledonia Mining Corporation PlcMark LearmonthCamilla Horsfall Tel: +44 1534 679 802Tel: +44 7817 841793
   
Cenkos Securities plc (Nomad and Joint Broker)Adrian HaddenNeil McDonaldPearl Kellie Tel: +44 207 397 1965Tel: +44 131 220 9771Tel: +44 131 220 9775
   
Liberum Capital Limited (Joint Broker)Scott Mathieson/Kane Collings Tel: +44 20 3100 2000
   
BlytheRay Financial PRTim Blythe/Megan Ray Tel: +44 207 138 3204
   
3PPBPatrick ChidleyPaul Durham Tel: +1 917 991 7701Tel: +1 203 940 2538
   
Curate Public Relations (Zimbabwe)Debra Tatenda Tel: +263 77802131
   
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)Dzika DhanaLloyd Mlotshwa Tel: +263 (242) 745 119/33/39
Caledonia Mining (AMEX:CMCL)
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