POL.L Regulatory News (POL)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Caledon Resources Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

No

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

No

An event changing the breakdown of voting rights

No

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Polo Resources Limited

4. Full name of shareholder(s)  (if different from 3.):iv

Pershing Securities Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

23 June 2011

6. Date on which issuer notified:

23 June 2011

7. Threshold(s) that is/are crossed orreached: vi, vii

26.64% (and 28.02% only if all Loan notes are exercised)

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B1GJZT14 ORD

83,311,520

83,311,520

74,472,687

74,472,687

26.64%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

8.5% Convertible Loan Notes 2013

Indicated at 46.53 Pence post Gram offer

04 February 2013

11 February 2010 to 28 January 2013. From the dealing day following the Closing Date to the close of business (at the place where the relevant Loan Note is delivered for conversion) on the date falling six dealing days prior to the Final Maturity Date (both days inclusive) and subject to terms of GRAM acquisition.

5,372,878

Nominal

Delta

1.89% of the enlarged share capital (if only Polo loan notes are converted

Total (A+B+C)

Number of voting rights

Percentage of voting rights

79,845,565

28.02% (of enlarged share capital if loan notes are exercised)

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

The shares acquired are held in the name of Pershing Securities Limited on behalf of Polo Australasia Limited, a wholly owned subsidiary of Polo Resources Limited.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Mr. Gary Good

15. Contact telephone number:

+27 82 404 3637