POL.L Regulatory News (POL)

(a) Identity of the party to the offer making the disclosure:

Polo Resources Limited

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

The naming of nominee or vehicle companies is insufficient

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

Use a separate form for each party to the offer

Caledon Resources plc

(d) Is the party to the offer making the disclosure the offeror or the offeree?

OFFEROR

(e) Date position held:

27th April 2010

(f) Has the party previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?

NO

Class of relevant security:

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

54,985,196

26.1

N/A

(2) Derivatives (other than options):

N/A

N/A

(3) Options and agreements to purchase/sell:

N/A

N/A

TOTAL:

54,985,196

26.1

N/A

Class of relevant security in relation to which subscription right exists:

Ordinary shares

Details, including nature of the rights concerned and relevant percentages:

1/ £4,700,000 Caledon Resources 8.5% Convertible Loan Notes @ 50p due July 2010

2/ £2,500,000 Caledon Resources 8.5% Convertible Loan Notes @ 47.5p due Feb 2013

Details of any irrevocable commitments or letters of intent procured by the party to the offer making the disclosure or any person acting in concert with it (see Note 3 on Rule 2.11 of the Code):

None

Details of any interests, short positions and rights to subscribe of any person acting in concert with the party to the offer making the disclosure:

Paul Ingram (Director of Polo) 2,217,500 Ordinary shares in Caledon Resources plc

Details of any interests, short positions and rights to subscribe of any person acting in concert with the party to the offer making the disclosure:

None

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer making the disclosure or any person acting in concert with it:

If there are no such agreements, arrangements or understandings, state "none"

None

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer making the disclosure, or any person acting in concert with it, and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"

None

Supplemental Form 8 (Open Positions)

NO

Supplemental Form 8 (SBL)

NO

11th May 2010

Ann Whitfield (Canaccord Genuity)

 020 7050 6564