Further to the announcement of Caledonia Mining Corporation Plc
(“Caledonia” or “the Company”) (NYSE AMERICAN: CMCL; AIM:
CMCL) on 23 September 2021 concerning the Maligreen project
(“Maligreen”), the Company announces that it has today filed on
SEDAR a NI 43-101 technical report on Maligreen1. As a reminder,
Maligreen is a property situated in the Gweru mining district in
the Zimbabwe Midlands and contains, as stated in the report, a NI
43-101 compliant inferred mineral resource of approximately 940,000
oz of gold. Caledonia is expecting to finalise the process of
transferring the claims from the seller shortly, at which point the
agreed consideration of US$4m will become payable.
For further information please contact:
Caledonia Mining Corporation PlcMark
LearmonthCamilla Horsfall |
Tel: +44 1534 679 802Tel: +44 7817 841793 |
WH IrelandAdrian
Hadden |
Tel: +44 20 7220 1751 |
BlytheweighTim
Blythe/Megan Ray |
Tel: +44 207 138 3204 |
3PPBPatrick
ChidleyPaul Durham |
Tel: +1 917 991 7701Tel: +1 203
940 2538 |
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.
Cautionary Note Concerning
Forward-Looking Information
Information and
statements contained in this news release that are not historical
facts are "forward-looking information", "financial outlooks"
or "future oriented financial information" (collectively,
"forward-looking information") within" within the meaning of
applicable securities legislation that involve risks and
uncertainties relating, but not limited to Caledonia's current
expectations, intentions, plans, and beliefs. Forward-looking
information can often be identified by forward-looking words such
as "anticipate", "believe", "expect", "goal", "plan", "target",
"intend", "estimate", "could", "should", "may" and "will" 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. Examples of forward-looking information in this news
release include: production guidance, estimates of future/targeted
production rates, and our plans and timing regarding further
exploration and drilling and development, construction plans,
financial and shareholders returns on investment in construction
projects and electricity production/supply to the mine. This
forward-looking information 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: failure to establish estimated resources and
reserves, the grade and recovery of ore which is mined varying from
estimates, success of future exploration and drilling programs,
reliability of drilling, sampling and assay data, assumptions
regarding the representativeness of mineralization being
inaccurate, success of planned metallurgical test-work, capital and
operating costs varying significantly from estimates, delays in
obtaining or failures to obtain required governmental,
environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the
development of projects, the completion of construction projects,
the proposed benefits from construction projects and other
factors.
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
construction plans and assumptions. Security holders, potential
security holders and other prospective investors are cautioned that
such information may not be appropriate for other purposes and
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,
contractors 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
Company's 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, construction activity and currency fluctuations.
Security holders, potential security holders and other prospective
investors are cautioned that the assumptions used in the
preparation of such forward-looking information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, accordingly, they should not place undue reliance on
such 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.
Technical disclosure in this news release has
been prepared in accordance with the requirements of the securities
laws in effect in Canada, which differ from the requirements of
United States securities laws. Such technical disclosure includes
mineral resources classification terms made in accordance with NI
43-101. NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects. These standards differ from the requirements of
the United States Securities and Exchange Commission (the “SEC”)
applicable to domestic United States reporting companies.
Accordingly, technical disclosure in this news release that
describes mineral resources estimates may not be comparable with
information made public by United States companies subject to the
SEC's reporting and disclosure requirements.
_________________________1 Refer to technical
report entitled “Caledonia Mining Corporation Plc NI 43-101 Mineral
Resource Report on the Maligreen Gold Project, Zimbabwe” by Minxcon
(Pty) Ltd dated November 2, 2021 and filed on SEDAR (www.sedar.com)
on November 5, 2021.This news release has been approved by Mr Dana
Roets (B Eng (Min.), MBA, Pr.Eng., FSAIMM, AMMSA), Chief Operating
Officer, the Company's qualified person as defined by Canada's
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101"). The Company's independent qualified person
as defined by NI 43-101, Mr. Uwe Engelmann (BSc (Zoo. & Bot.),
BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA) of Minxcon
(Pty) Ltd, the qualified person responsible for the report, has
also approved this news release.
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