GlobeNewswire Inc | Sep 3, 2020 02:00AM EDT

September 03, 2020

ST HELIER, Jersey, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) (Caledonia or the Company)announces that it received notification on September 2, 2020, from BlackRock, Inc., which is a significant shareholder of the Company as defined by the AIM Rules for Companies, that it has slightly decreased its interest in the Company and on September 1, 2020 crossed a particular threshold for notification of its holdings in the Company. A copy of the notification is below.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to theFCA in Microsoft Word format if possible)^i

1a. Identity of the issuer or theunderlying Caledonia Mining Corporation Plcissuer of existing shares to which votingrights are attached^ii:1b. Please indicate if the issuer is a non-UK issuer (please mark with an ?X?if appropriate)Non-UK issuer X2. Reason for the notification (please mark the appropriate box or boxes withan ?X?)An acquisition or disposal of voting rights XAn acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify)^iii: 3. Details of person subject to the notification obligation^ivName BlackRock, Inc.City and country of registered office (if Wilmington, DE, USAapplicable)4. Full name of shareholder(s) (if different from 3.)^vName City and country of registered office (if applicable)5. Date on which the threshold was crossed 01/09/2020or reached^vi:6. Date on which issuer notified (DD/MM/ 02/09/2020YYYY):7. Total positions of person(s) subject to the notification obligation % of voting % of voting rights Total rights through Total of both in number of attached to financial % voting shares instruments (8.A + 8.B) rights of (total of 8. A) (total of issuer^vii 8.B 1 + 8.B2)Resulting situationon the date onwhich 4.97% 0.65% 5.62% 11,520,860threshold wascrossed or reachedPosition ofprevious 5.22% 0.36% 5.58% notification (ifapplicable)



8. Notified details of the resulting situation on the date on which thethreshold was crossed or reached^viiiA: Voting rights attached to shares Number of voting rights^ix % of voting rightsClass/type of Direct Indirect Direct Indirectshares (Art 9 of (Art 10 of (Art 9 of (Art 10 ofISIN code (if Directive Directive Directive Directivepossible) 2004/109/EC 2004/109/EC) 2004/109/EC) 2004/109/ (DTR5.1) (DTR5.2.1) (DTR5.1) EC) (DTR5.2.1)JE00BF0XVB15 572,648 4.97% SUBTOTAL 8. A 572,648 4.97%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC(DTR5.3.1.1 (a)) Number of voting Exercise/ rights % ofType of financial Expiration Conversion that may be acquired votinginstrument date^x Period^xi if rights the instrument is exercised/converted.Securities Lending 42,000 0.36% SUBTOTAL 8. B 1 42,000 0.36%

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Exercise/ Physical or Number of % ofType of financial Expiration Conversion cash voting votinginstrument date^x Period ^xi settlement^ rights rights xiiCFD Cash 32,901 0.28% SUBTOTAL 32,901 0.28% 8.B.2



9. Information in relation to the person subject to the notification obligation(please mark theapplicable box with an ?X?)Person subject to the notification obligation is not controlled byany natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly aninterest in the (underlying) issuer^xiiiFull chain of controlled undertakings through which the voting rightsand/or thefinancial instruments are effectively held starting with the ultimate Xcontrolling natural person or legal entity^xiv(please add additional rows as necessary) % of voting rights Total of % of voting rights if through financial both if it it equals or is higher instruments if it equals orName^xv than the notifiable equals or is higher is higher threshold than the notifiable than the threshold notifiable thresholdSee Attachment

10. In case of proxy voting, please identify:Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held

11. Additional information^xvi

BlackRock Regulatory Threshold Reporting Team

Jana Blumenstein

020 7743 3650



Place of completion 12 Throgmorton Avenue, London, EC2N 2DL, U.K.Date of completion 2 September, 2020

Section 9 Attachment

% of voting rights % of voting through Total of rights if financial both if it it equals or instruments equals or isName^xv is higher if it higher than the equals or is than the notifiable higher notifiable threshold than the threshold notifiable thresholdBlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock Holdco 4, LLC BlackRock Holdco 6, LLC BlackRock Delaware Holdings Inc. BlackRock Institutional Trust Company, National Association BlackRock, Inc. Trident Merger, LLC BlackRock Investment Management, LLC BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock Capital Holdings, Inc. BlackRock Advisors, LLC BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock Holdco 4, LLC BlackRock Holdco 6, LLC BlackRock Delaware Holdings Inc. BlackRock Fund Advisors BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC BlackRock Canada Holdings LP BlackRock Canada Holdings ULC BlackRock Asset Management Canada Limited BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock (Singapore) Holdco Pte. Ltd. BlackRock HK Holdco Limited BlackRock Lux Finco S.a.r.l. BlackRock Japan Holdings GK BlackRock Japan Co., Ltd.

For further information please contact:

Caledonia Mining Corporation Plc Mark Learmonth Tel: +44 1534 679 802Maurice Mason Tel: +44 759 078 1139 WH Ireland Tel: +44 20 7220 1751Adrian Hadden/James Sinclair-Ford Blytheweigh Tel: +44 207 138 3204Tim Blythe/Camilla Horsfall/Megan Ray 3PPB Patrick Chidley Tel: +1 917 991 7701Paul Durham Tel: +1 203 940 2538