Caledonia Mining Corporation Plc

(NYSE American: CMCL; AIM: CMCL)

Exercise of share options

St Helier, November 16, 2021:  Caledonia Mining Corporation Plc ("Caledonia" or the "Company") announces that Mr John McGloin, a non-executive director of the Company, has exercised options in respect of, and the Company has issued and allotted, 18,000 common shares of no par value each in the Company (the "Option Shares"). The exercise price was CAD$11.50 per Option Share.  Following this transaction, Mr McGloin holds an interest in 18,000 shares in the Company representing approximately 0.15 per cent of the issued share capital of the Company.

Application has been made by Caledonia for the Option Shares to be admitted in the form of depositary interests to trading on AIM and it is anticipated that trading in such securities will commence on or around November 19, 2021. 

Following the issue of the Option Shares, the Company has a total number of shares in issue of 12,136,823 common shares of no par value each.  Caledonia has no shares in treasury; therefore, this figure may be used by holders 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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The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR. 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY    PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED  WITH THEM