Caledonia Mining Corporation Plc

(NYSE American: CMCL; AIM: CMCL; TSX: CAL)

Exercise of share options

St Helier, September 11, 2017:  Caledonia Mining Corporation Plc ("Caledonia" or the "Company") announces that it has issued and allotted 5,600 common shares of no par value each in the Company pursuant to the exercise of share options (the "Option Shares").

Application will be made by Caledonia for the Option Shares to be admitted in the form of depositary interests to trading on AIM and it is anticipated that trading in such securities will commence on September 15, 2017. 

Following issue of the Option Shares, the Company has a total number of shares in issue of 10,558,073 common shares of no par value each.  Caledonia has no shares in treasury; therefore, this figure may be used by holders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company.

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