Caledonia Min Regulatory News (CMCL)

15 Feb 2008 15:24

Caledonia Mining Corporation15 February 2008 Caledonia Appoints Dr Trevor Pearton as Vice-President, Exploration and completes a $1,230,000 private placement Toronto, Ontario - February 15 2008: Caledonia Mining Corporation ("Caledonia")(TSX: CAL, NASDAQ-OTCBB: CALVF, AIM: CMCL) is pleased to announce theappointment of Dr. Trevor Pearton as Vice-President, Exploration for theCompany, following the resignation of Jeff Smith. The Board of Directors thanksJeff for his loyal service and contribution to the company over the years. Dr. Pearton has worked for Caledonia since 2001. During the time, he wasresponsible for the establishment and management of the resource bases at theBlanket Mine (operating) and the Barbrook and Eersteling Mines (now on care andmaintenance) and the assessment of the Nama project, resulting in areinterpretation of the ore body and an improved definition of the resources andmineralogical characteristics. This work provided the basis for the 2007(completed) and the 2008 exploration programs. Prior to joining Caledonia, Dr.Pearton worked for a number of financial institutions in South Africa as ahighly rated gold analyst, as well as consulting to a number of miningcompanies. He graduated from the University of the Witwatersrand with a BSc Eng(Mining Geology) and was awarded a PhD in Geology for research into Archaeangold and antimony deposits (Witwatersrand University). He is a member of theGeological Society of South Africa; elected a Fellow of the Society in 2004, amember of the South African Institute for Mining and Metallurgy and a member ofthe Witwatersrand University Mining Engineers Association Caledonia has also closed a private placement sale of 12,300,000 Units at $0.10each from which it has received gross proceeds of $1,230,000 and, after paymentof commissions of $110,700, net proceeds of $1,119,300. Each Unit consisted ofone common share of the Company and one 1-year warrant entitling the purchase ofan additional share for $0.15. The Company has applied for the new Shares to beadmitted to trading on AIM and dealings are expected to commence on February 21,2008. For more information, please contact: Stefan Hayden, President & CEO Alex Buck Andrew SmithCaledonia Mining BuckBias RBC Capital MarketsTel: +27 11 447 2499 Tel: +44 7932 740 452 Tel: 44 20 7029 7882 This information is provided by RNS The company news service from the London Stock Exchange