Issue of Securities

Caledonia Mining Corporation Plc

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

Issue of Securities

St Helier, June 10, 2019: Caledonia Mining Corporation Plc (the "Company" or "Caledonia") announces that following the maturing of a long term incentive plan award on June 8, 2019 a total of 13,137 securities in the Company have been issued to a member of Caledonia's staff. The securities have been issued in the form of depositary interests representing shares in the Company.

Application has been made by Caledonia for the admission of the depositary interests to trading on AIM and it is anticipated that trading in such securities will commence on June 14, 2019.

Following issue of the shares underlying the depositary interests, the Company has a total number of shares in issue of 10,763,041 common shares of no par value each. Caledonia has no shares in treasury; therefore, this figure may be used by holders of securities in the Company 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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