GlobeNewswire Inc | Sep 7, 2021 02:00AM EDT

September 07, 2021

ST HELIER, Jersey, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (Caledonia or the Company) (NYSE AMERICAN: CMCL; AIM: CMCL) announces that, further to the Companys announcement on September 3, 2021 that Van Eck Vectors Junior Gold Miners ETF is now a significant shareholder of the Company as defined by the AIM Rules for Companies, it subsequently received a notification on September 3, 2021 from Van Eck Associates Corporation (Van Eck) containing details of Van Ecks shareholdings in the Company held through two of its funds. 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 the underlying issuer of Caledonia Miningexisting shares to which voting rights are attached^ii: Corporation PLC1b. Please indicate if the issuer is a non-UK issuer (please mark with an ?X?if appropriate)Non-UK issuer 2. 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 Van Eck Associates CorporationCity and country of registered office (if applicable) New York, NY USA

4. Full name of shareholder(s) (if different from 3.)^v VanEck Vectors Junior Gold MinersName ETF VanEck Vectors Junior Gold Miners UCITS ETFCity and country of registered office (if applicable) 5. Date on which the threshold was crossed or reached^vi: 19 March 20216. Date on which issuer notified (DD/MM/YYYY): 3 September 20217. Total positions of person(s) subject to the notification obligation % of voting Total rights through of Total number % of voting rights financial both of voting attached to shares instruments in % rights of (total of 8. A) (total of 8.B 1 (8.A issuer^vii + 8.B 2) + 8.B)Resulting situation onthe date on which 3.91% 3.91% 12,118,820threshold was crossed orreachedPosition of previousnotification (if N/A N/A applicable)

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 2004/ Directive 2004 Directive 2004 Directivepossible) 109/EC) /109/EC) /109/EC) 2004/109/EC) (DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)JE00BF0XVB15 473,246 3.91% SUBTOTAL 8. A 473,246 3.91 %

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 that may beType of financial Expiration Conversion acquired if the % of votinginstrument date^x Period^xi instrument is rights exercised/ converted. SUBTOTAL 8. B 1

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 ofType of financial Expiration Conversion cash voting % of votinginstrument date^x Period ^xi settlement^ rights rights xii SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notificationobligation (please mark the applicable 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 an interest in the(underlying) issuer^xiiiFull chain of controlled undertakings through which the votingrights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legalentity^xiv (please add additional rows as necessary) % of voting Total of both if rights if it % of voting rights through it equals or isName^xv equals or is financial instruments if it higher than the higher than the equals or is higher than the notifiable notifiable notifiable threshold threshold thresholdVanEck VectorsJunior Gold 3.55% 3.55%Miners ETFVanEck VectorsJunior Gold 0.36% 0.36%Miners UCITSETF

10. In case of proxy voting, please identify:Name of the proxy holder Glass LewisThe number and % of voting 473,246 shares and 3.91% voting rightrights heldThe date until which the Openvoting rights will be held

11. Additional information^xvi

Place of completion Tampa, FL USADate of completion 3 September 2021

Caledonia Mining Corporation Plc Tel: +44 1534 679 802Mark Learmonth Tel: +44 7817 841793Camilla Horsfall WH Ireland Tel: +44 20 7220 1751Adrian Hadden Blytheweigh Tel: +44 207 138 3204Tim Blythe/Megan Ray 3PPB Tel: +1 917 991 7701Patrick Chidley Tel: +1 203 940 2538Paul Durham

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014(MAR)as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.