Caledonia Mining Corporation Plc

Blanket Mine Q2 2025 Production and Guidance

Increased production guidance at Blanket Mine for 2025

(NYSE AMERICAN, AIM and VFEX: CMCL)

St Helier, July 16, 2025 Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces gold production from the Blanket Mine ("Blanket") in Zimbabwe for the quarter ended June 30, 2025 ("Q2 2025") and the half year ended June 30, 2025 ("H1 2025"). All production numbers are expressed on a 100 per cent basis and are based on final assays from the refiner.

Production and Guidance Summary

•   Q2 2025 gold production was 21,070 ounces, setting a new record for a second quarter; 20,773 ounces were produced in the second quarter of 2024.
•   H1 2025 gold production was 39,741 ounces, a 5.1 % increase on the 37,823 ounces produced in the first half of 2024.
•   Caledonia increases BlanketÕs production guidance to 75,500 - 79,500 ounces of gold[1].

Mark Learmonth, Chief Executive Officer, said:

"Production in the first half of 2025 was excellent and has exceeded our expectations. As a result of this strong performance, we are increasing our annual production guidance. This performance is a testament to the dedication and hard work of our team. 

"Blanket Mine continues to provide a solid foundation for growth. As we move forward, we are confident that it will continue to be a cornerstone of our success, driving value for our shareholders."

Craig James Harvey, MGSSA, MAIG, Caledonia Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a "Qualified Person" as defined by each of (i) the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act.

Enquiries:

Note: The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 (ÒMARÓ) 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. 

Cautionary Note Concerning Forward-Looking Information

Information and statements contained in this news release that are not historical facts are Òforward-looking informationÓ within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited, to CaledoniaÕs current expectations, intentions, plans, and beliefs.  Forward-looking information can often be identified by forward-looking words such as ÒanticipateÓ, ÒbelieveÓ, ÒexpectÓ, ÒgoalÓ, ÒplanÓ, ÒtargetÓ, ÒintendÓ, ÒestimateÓ, ÒcouldÓ, ÒshouldÓ, ÒmayÓ and ÒwillÓ or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. The forward-looking information contained in this news release is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.  Such factors and assumptions include, but are not limited to, achieving Blanket MineÕs annual production forecast.

To the extent any forward-looking information herein constitutes a financial outlook or future oriented financial information, any such statement is made as of the date hereof and included herein to provide prospective investors with an understanding of the Company's plans and assumptions. Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.  Such factors include, but are not limited to: risks relating to estimates of mineral reserves and mineral resources proving to be inaccurate, fluctuations in gold price, risks and hazards associated with the business of mineral exploration, development and mining, risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, employee relations; relationships with and claims by local communities and indigenous populations; political risk; risks related to natural disasters, terrorism, civil unrest, public health concerns (including health epidemics or outbreaks of communicable diseases such as the coronavirus (COVID-19)); availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining or maintaining necessary licenses and permits, diminishing quantities or grades of mineral reserves as mining occurs; global financial condition, the actual results of current exploration activities, changes to conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors, risks of increased capital and operating costs, environmental, safety or regulatory risks, expropriation, the CompanyÕs title to properties including ownership thereof, increased competition in the mining industry for properties, equipment, qualified personnel and their costs, risks relating to the uncertainty of timing of events including targeted production rate increase and currency fluctuations.  Security holders, potential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information.  By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur.  Caledonia undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

This news release is not an offer of the shares of Caledonia for sale in the United States or elsewhere. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the shares of Caledonia, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such province, state or jurisdiction.