Caledonia Min Regulatory News (CMCL)

Caledonia Mining Corporation Plc

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

Notification of relevant change to significant shareholder

June 27, 2019: Caledonia Mining Corporation Plc ("Caledonia" or the "Company") announces that it has received notification of a relevant change in the interest of a significant shareholder. In accordance with AIM rule 17, the following details are notified:

(a) Identity of the significant shareholder: Sales Promotion Services S.A.

(b) Date of disclosure: June 26, 2019

(c) Date of relevant change: May 31, 2019

(d) Price, amount and class: 20,000 depositary interests; price not disclosed

(e) Nature of transaction: sale

(f) Nature and extent of significant shareholder's interest: not disclosed

The holder also notified Caledonia that it now holds an interest in 848,773 shares which, as at today's date, represents 7.89% of the Company's total issued share capital of 10,763,041 common shares.

Caledonia announced on November 13, 2017 that it had been informed that the beneficial owner of Sales Promotion Services S.A. is Heinrich Auwärter.