CMCL

Caledonia Mining Corporation Plc ("Caledonia" or the "Company") (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces that it received notification on December 19, 2022 from Van Eck Associates Corporation, which is, through two of its funds, a "significant shareholder" of the Company as defined by the AIM Rules for Companies, that it has changed its interest in the Company and on December 16, 2022 crossed a particular threshold for notification of its holdings in the Company by increasing its shareholding in the company from 3.63 per cent to 4.128 per cent. A copy of the notification is below.

Enquiries:

Caledonia Mining Corporation PlcMark LearmonthCamilla Horsfall	Tel: +44 1534 679 800Tel: +44 7817 841 793
Cenkos Securities plc (Nomad and Joint Broker)Neil McDonaldPearl Kellie	Tel: +44 131 220 9771Tel: +44 131 220 9775
Liberum Capital Limited (Joint Broker)Scott Mathieson/Kane Collings	Tel: +44 20 3100 2000
BlytheRay Financial PR (UK)Tim Blythe/Megan Ray	Tel: +44 207 138 3204
3PPB (Financial PR, North America)Patrick ChidleyPaul Durham	Tel: +1 917 991 7701Tel: +1 203 940 2538
Curate Public Relations (Zimbabwe)Debra Tatenda	Tel: +263 77802131
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)
Lloyd Mlotshwa	Tel: +263 (242) 745 119/33/39

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:			Caledonia Mining Corp PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer									X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights									X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name			Van Eck Associates Corporation
City and country of registered office (if applicable)			New York, NY USA
4. Full name of shareholder(s) (if different from 3.)v
Name			VanEck Junior Gold Miners ETFVanEck Junior Gold Miners UCITS ETF
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi:			16/12/2022
6. Date on which issuer notified (DD/MM/YYYY):			19/12/2022
7. Total positions of person(s) subject to the notification obligation
	% of voting rightsattached to shares(total of 8. A)	% of voting rightsthrough financialinstruments(total of 8.B 1 + 8.B 2)		Total of both in %(8.A + 8.B)	Total number ofvoting rights ofissuervii
Resulting situation on the date on which threshold was crossed or reached	4.128%			4.128%	12,833,120
Position of previous notification (if applicable)	465,522			3.63%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type ofsharesISIN code (if possible)	Number of voting rightsix					% of voting rights
	Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)			Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)
JE00BF0XVB15	529,779					4.128%
SUBTOTAL 8. A	529,779					4.128%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financialinstrument	Expirationdatex	Exercise/ Conversion Periodxi				Number of voting rightsthat may be acquired ifthe instrument isexercised/converted.			% of voting rights
		SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financialinstrument	Expirationdatex		Exercise/ Conversion Period xi		Physical or cash settlementxii		Number ofvoting rights			% of voting rights
					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)						X
Namexv	% of voting rights if itequals or is higherthan the notifiablethreshold		% of voting rightsthrough financialinstruments if it equalsor is higher than thenotifiable threshold	Total of both if itequals or is higherthan the notifiablethreshold
VanEck Junior Gold Miners ETF	3.747%			3.747%
VanEck Junior Gold Miners UCITS ETF	0.381%			0.381%
10. In case of proxy voting, please identify:
Name of the proxy holder			Glass Lewis
The number and % of voting rights held			529,779 shares and 4.128% voting right
The date until which the voting rights will be held			Open
11. Additional informationxvi

Place of completion	Tampa, FL
Date of completion	19 December 2022