Caledonia Mining Corporation plc

Operations

Reserves and Resources

Caledonia’s 2023 deep level drilling programme at Blanket Mine yielded encouraging results. The Company is currently evaluating the continuity of the mineralised zones on the Blanket and Eroica ore bodies in anticipation of delineating an increased overall resource. The results indicate that the existing Blanket and Eroica ore bodies have grades and widths which are generally better than expected. Total drilling for 2023 was 13,280 metres.

Highlights of the results include:

Holes Identifier

Orebody Name

Orebody Intersection

Core Length (m)

True width (m)

Grade (g/t)

Orebody Intersection depth from surface(m)

*E.O.H(m)

From (m)

To (m)

ERC750EX2308

ERCN_FW

350.00

358.40

8.40

5.80

4.95

1108.40

392.40

BLK 930EX2308

BQR_HW

176.03

200.63

24.60

13.33

5.92

1130.63

304.25

BLK 930EX2310

BLK2HW

181.30

217.30

36.00

16.31

6.12

1147.30

293.50

BLK870EX2303

BLK4_5

28.60

39.40

10.80

4.27

8.80

909.40

272.20

ARS1110EX2304

BQR

3.00

18.00

15.00

8.22

3.62

1128.00

161.00

VERTICAL LONG SECTION OF BLANKET MINE

Showing the main orebodies, mine infrastructure, highlighting the Eroica zone where recent drilling has taken place

Full details of drilling results can be seen in the press releases announced on

30 January 2024
https://polaris.brighterir.com/public/caledonia_mining/news/rns_tool/story/r7l2nvx

and 10 July 2023
https://polaris.brighterir.com/public/caledonia_mining/news/rns_tool/story/w3j603x