Caledonia Mining appoints Nick Clarke to its Board as Independent Director

– JERSEY, Saint Helier –  Caledonia Mining Corporation Plc (NYSE: CMCL | LON: CMCL |  TSX: CAL) today announced that Nick Clarke has joined the board of directors of the Company as an independent non-executive director with immediate effect.

Leigh Wilson, Caledonia’s Chairman, said: “I am delighted to welcome Nick Clarke to Caledonia’s Board. Nick’s technical background, extensive corporate experience and successful track record in the mining industry will undoubtedly make a significant contribution to the Board.

“As we enter the equipping phase of the Central Shaft project at Blanket Mine, having completed shaft sinking in July, Caledonia’s management team and Board continue also to focus on new opportunities as Blanket Mine begins to ramp up to its target of 80,000 ounces of gold per year from 2022 onwards.

“Mr Clarke’s experience will provide further support in evaluating and implementing these opportunities, with Blanket Mine’s ongoing mining operations acting as the catalyst in furtherance of the Company’s growth and development.”

About Nick Clarke

Mr Clarke, who is Chairman of Central Asia Metals PLC (AIM: CAML), is a highly experienced Chartered Engineer with 45 years in the mining industry. He has held senior positions in several resource companies and is well known as a successful executive in the sector having been involved in the construction of major mining projects and conducted several fundraisings on AIM and TSX.

He has an extensive background in managing AIM and TSX listed minerals companies including his current position as Chairman of Central Asia Metals PLC, where he was CEO from 2009 until 2016. Between 2004 and 2008 he was Managing Director of Oriel Resources plc (AIM: ORI) and from 2006 to 2008 he was President and CEO of Lero Gold Corporation (TSX: LER).

Mr Clarke has significant experience as a non-executive director of a number of AIM and TSX listed resource companies having previously held non-executive directorships on the boards of Afcan Mining Corp. (TSX: AFK), Caledon Resources plc (AIM: CDN), Obtala Resources plc (AIM: OBT), Columbus Copper Corp (TSX: CCU) and Sunkar Resources plc (AIM: SKR).

Mr Clarke said: “I am delighted to join Caledonia’s Board at this exciting time in the Company’s development.

“It is a testament to the strength of Caledonia’s management team that, in what has been a turbulent period in Zimbabwe, the Blanket Mine has operated successfully, Caledonia has continued to pay a regular quarterly dividend and the Central Shaft project is nearing completion.

“I look forward to being part of Caledonia’s Board and working with my fellow directors and Caledonia’s management team to support Caledonia’s profitable growth.”

Nick is an Associate of Camborne School of Mines. He is a trustee of the Camborne School of Mines Trust and is a member of the Institution of Materials Minerals & Mining.

About Caledonia Mining

Caledonia’s primary asset is a 49% interest in an operating gold mine in Zimbabwe. In November 2018, Caledonia announced that it had signed a legally binding sale agreement to increase its holding in Blanket Mine to 64%, subject to receipt of, amongst other things, regulatory approvals.

As of June 30, 2019, Caledonia had cash of approximately US$7.9m. Blanket Mine plans to increase production from 54,511 ounces of gold in 2018 to approximately 75,000 ounces in 2021 and approximately 80,000 ounces in 2022; Blanket Mine’s target production for 2019 is between 50,000 and 53,000 ounces. Caledonia expects to publish its results for the quarter to September 30, 2019, on or around November 14, 2019.

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